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Lazard Global Total Return and Income Fund and Lazard World Dividend & Income Fund Authorize Increase in Monthly Distribution

NEW YORK--(BUSINESS WIRE)-- The Board of Directors of each of Lazard Global Total Return and Income Fund, Inc. ("LGI") (NYSE:LGI) and Lazard World Dividend & Income Fund, Inc. ("LOR" and together with LGI, the "Funds") (NYSE:LOR) has authorized the Funds to pay, commencing in January 2018, monthly distributions equivalent to 1/12th of 7% of each of LGI's and LOR's net asset value per share on the last business day of December 2017. This represents an increase in the Funds' monthly distribution rates, as LGI and LOR formerly paid monthly distributions equivalent to 1/12th of 6.25% and 6.5%, respectively, of the respective Fund's net asset value per share on the last business day of the previous calendar year.

Portfolio data as of September 29, 2017, including performance, asset allocation, top 10 holdings, sector weightings, regional exposure, and other Fund characteristics have been posted on Lazard Asset Management's ("LAM") website, www.LazardNet.com. Additionally, any notices required by Section 19(a) of the Investment Company Act of 1940, as amended, which provide 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.

LGI's objective is total return consisting of capital appreciation and current income. LGI invests in a portfolio of approximately 60 to 80 US and non-US equity securities, including American Depository Receipts. LGI generally invests in securities of companies with market capitalizations greater than $2 billion and may invest in emerging markets.1 LGI seeks enhanced income by investing in short duration (typically less than one year) emerging market forward currency contracts and other emerging market debt instruments.

LOR's objective is total return through a combination of dividends, income, and capital appreciation. LOR'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. LOR 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 Funds' investment manager, offers a range of equity, fixed-income, and alternative investment products worldwide. As of September 30, 2017, LAM and affiliated asset management companies in the Lazard Group managed $238 billion worth of client assets. For more information about LAM, please go to www.LazardNet.com.

1 As announced in a press release dated August 18, 2016, LGI's Board of Directors approved changes to the Fund's investment strategy effective on or around September 1, 2016.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171120006028/en/

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

Source: Lazard Global Total Return and Income Fund, Inc. and Lazard World Dividend & Income Fund, Inc.