Lazard, Inc. — Director's Dealing 2010

May 12, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lazard Ltd (LAZ)
CIK: 0001311370
Period of Report: 2010-05-10

Reporting Person: Hoffman Scott D (General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-05-10	Class A common stock	C	25000	—	Acquired	25000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-05-10	Class II Interests of LAZ-MD Holdings LLC	$	C	25000	Disposed		Class A Common Stock (25000)	Direct

Footnotes

F1: The shares of Class A common stock were acquired upon the exchange of Class II interests of LAZ-MD Holdings LLC. See footnote 2 below.

F2: The Class II Interests of LAZ-MD Holdings are exchangeable on a one for one basis for Class A comon stock of Lazard Ltd. By their terms these Class II Interests became effectively exchangeable on May 10, 2010.