Exhibit(p)
INVESTMENT LETTER
LAZARD GLOBAL TOTAL RETURN AND INCOME FUND, INC.
Lazard Global Total Return and Income Fund, Inc. (the "Fund"), a closed-end,
non-diversified management investment company, and Lazard Asset Management LLC
("Purchaser"), intending to be legally bound, hereby agree as follows:
1. In order to provide the Fund with its initial capital, the Fund hereby
sells to Purchaser and Purchaser purchases 5,237 shares of Common Stock
(par value $0.001) of the Fund at a price of $19.10 per share (the
"Shares") as of the close of business on April 20, 2004. The Fund
hereby acknowledges receipt from Purchaser of funds in the amount of
$100,026.70 in full payment for the Shares.
2. Purchaser represents and warrants to the Fund that the Shares are being
acquired for investment and not with a view to distribution thereof,
and that Purchaser has no present intention to redeem or dispose of the
Shares.
IN WITNESS WHEREOF, the parties have executed this agreement as of the __th day
of April, 2004.
LAZARD GLOBAL TOTAL RETURN AND INCOME FUND, INC.
By: _______________________________________
Name: Xxxxxxx Xx. Xxxxx
Title: Treasurer
LAZARD ASSET MANAGEMENT LLC
By: _______________________________________
Name: Xxxxxx Xxxxxxx
Title: Managing Director
