Lazard London Chairman Marcus Agius, 60, to Retire, Effective December 31, 2006; Lazard London Continues to Be Led by William Rucker, Its Chief Executive Officer

"Marcus Agius began his investment banking career with Lazardalmost 35 years ago, and we thank him for his many distinguishedcontributions," said Bruce Wasserstein, Lazard's Chairman and ChiefExecutive Officer. "Part of his legacy is Lazard's depth of talent inLondon and Europe. We wish Marcus continued success."

Mr. Agius stated, "Retiring from Lazard is especially difficultfor me after all these years. I have had a wonderful time at Lazard,and will be leaving with the firm in excellent shape. I wholeheartedlybelieve that the firm's business model of providing high qualityindependent advice is as relevant today as it has ever been."

Lazard, one of the world's preeminent financial advisory and assetmanagement firms, operates from 29 cities across 16 countries in NorthAmerica, Europe, Asia, Australia and South America. With originsdating back to 1848, the firm provides services including mergers andacquisitions advice, asset management, corporate finance, andrestructuring advice to corporations, partnerships, institutions,governments, and individuals.