INVESTMENT LETTER
LAZARD WORLD DIVIDEND & INCOME FUND, INC.
Lazard World Dividend & Income Fund, Inc. (the "Fund"), a closed-end,
non-diversified management investment company, and Lazard Asset Management LLC
(the "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 June 17, 2005. 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 17th day
of June, 2005.
LAZARD WORLD DIVIDEND & INCOME FUND, INC.
By: /s/ Xxxxxxx Xx. Xxxxx
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Name: Xxxxxxx Xx. Xxxxx
Title: Treasurer
LAZARD ASSET MANAGEMENT LLC
By: /s/ Xxxxxx Xxxxxxx
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Name: Xxxxxx Xxxxxxx
Title:Managing Director
