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Lazard World Dividend & Income Fund and Lazard Global Total Return and Income Fund Announce Partial Results of Joint Annual Meeting of Stockholders and Adjournment of Meeting With Respect to One Proposal

NEW YORK--(BUSINESS WIRE)--

Lazard World Dividend & Income Fund, Inc. (NYSE:LOR) and Lazard Global Total Return and Income Fund, Inc. (NYSE:LGI) (together with LOR, the "Funds") today announced the voting results of certain of the proposals voted on at the Funds' 2019 Joint Annual Meeting of Stockholders (the "Annual Meeting"), which was held today, October 18, 2019. With respect to one proposal that stockholders of each Fund were asked to consider and vote on at the Annual Meeting—the proposal to merge LOR with and into LGI, pursuant to an Agreement and Plan of Merger (the "Merger Proposal"), LGI has adjourned its Annual Meeting (such adjourned meeting, the "Adjourned Annual Meeting") in order to allow stockholders additional time to vote on the Merger Proposal. The Adjourned Annual Meeting will be held at the offices of Lazard Asset Management LLC ("LAM"), 30 Rockefeller Plaza, 58th Floor, Conference Room 58A, New York, New York 10112, on Friday, November 15, 2019, at 3:00 p.m., local time. LGI stockholders of record at the close of business on August 20, 2019 are entitled to vote at the Adjourned Annual Meeting. The voting results of the proposals voted on at the Annual Meeting are summarized below.

Merger Proposal

The holders of a majority of LOR's outstanding shares of common stock have approved the Merger Proposal. As noted above, LGI has adjourned its Annual Meeting with respect to this proposal to allow stockholders additional time to vote on the Merger Proposal. LGI's Board of Directors recommends a vote "FOR" the Merger Proposal. Consummation of the merger of LOR with and into LGI requires the approval of the Merger Proposal by each Fund's stockholders.

Director Elections

Robert M. Solmson and Nathan A. Paul have been elected by stockholders as Class I Directors of LOR, and Kenneth S. Davidson, Nancy A. Eckl and Trevor W. Morrison have been elected by stockholders as Class II Directors of LGI, each to serve for a term expiring at the Funds' 2022 Joint Annual Meeting of Stockholders and until his or her successor is duly elected and qualified.

An indirect subsidiary of Lazard Ltd (LAZ), LAM, the Funds' investment manager, offers a range of equity, fixed-income, and alternative investment products worldwide. As of September 30, 2019, LAM and affiliated asset management companies in the Lazard Group managed $230.9 billion worth of client assets. For more information about LAM, please visit www.LazardAssetManagement.com. Follow LAM at @LazardAsset.

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