Lazard World Dividend & Income Fund Declares Monthly Distribution

  Lazard World Dividend & Income Fund Declares Monthly Distribution

Business Wire

NEW YORK -- November 15, 2012

The Board of Directors of Lazard World Dividend & Income Fund, Inc. (the
"Fund") (NYSE:LOR) has authorized the Fund to declare today, pursuant to a
level distribution policy, a monthly distribution of $0.06635 per share on the
Fund’s outstanding common stock. The distribution is payable on December 21,
2012 to shareholders of record on December 12, 2012. The ex-dividend date is
December 10, 2012.

Portfolio data as of October 31, 2012, including performance, asset
allocation, top 10 holdings, sector weightings, regional exposure, and other
Fund characteristics have been posted on Lazard Asset Management LLC's ("LAM")
website, www.LazardNet.com. Additionally, the notice required by Section 19(a)
of the Investment Company Act of 1940, as amended, which provides information
regarding the respective estimated amounts of each monthly distribution
derived from net investment income, net realized capital gains (short- and
long-term) and return of capital, will also be available on www.LazardNet.com.

The Fund’s objective is total return, through a combination of dividends,
income, and capital appreciation. The Fund’s net assets are invested in a
portfolio of approximately 60 to 90 world equity securities, consisting
primarily of stocks selected from the current holdings of other accounts
managed by LAM. The equity portfolio is broadly diversified in both developed
and emerging market countries and across the capitalization spectrum. The Fund
seeks enhanced income by investing in short duration (typically less than one
year) emerging market forward currency contracts and other emerging market
debt instruments.

An indirect subsidiary of Lazard Ltd (NYSE: LAZ), LAM, the Fund’s investment
manager, offers a range of equity, fixed-income, and alternative investment
products worldwide. As of September 30, 2012, LAM and affiliated asset
management companies in the Lazard Group managed $160 billion worth of client
assets. For more information about LAM, please go to www.LazardNet.com.

Contact:

Lazard
Media:
Judi Mackey, +1-212-632-1428
judi.mackey@lazard.com
Investors:
Ben Wulfsohn, +1-800-823-6300
ben.wulfsohn@lazard.com