Revised Dividend Policy and Dividend Declaration

27 April 2018

Lazard World Trust Fund (the "Fund")

Adoption of Revised Dividend Policy and

Dividend Declaration

The Board of Lazard World Trust Fund is pleased to announce a revision to its dividend policy, which is effective for fiscal years commencing 1 April 2018. Under the new policy, it is the Fund's intention to pay a total annual dividend equivalent to 6% of the Net Asset Value calculated at the start of each financial year, payable in equal quarterly instalments over the course of that year. The first such instalment will be paid for the quarter ended 30 June 2018. It is intended that the quarterly instalments in each year will be paid in or about the months of August, November, February and May.

The revised policy is part of the Board's strategy to enhance demand for the Fund's shares. The Board believes that the increase in the level of dividend should broaden the appeal of the Fund to potential new investors and is therefore in the best interest of the Fund and its existing shareholders. The future dividend payments may be funded out of capital reserves to the extent that current year net income and revenue reserves are insufficient.

The revised dividend policy will be subject to annual shareholder approval at the Annual General Meetings of the Fund, commencing with the Annual General Meeting which is expected to be held in September 2018.

Dividend declaration

In light of the above, the Board have today declared the second dividend of 6.4925p in respect of the year to 31 March 2018, which is payable on 8 June 2018 to Shareholders who appear on the register on 11 May 2018 with an ex-dividend date of 10 May 2018. In respect of the year ended 31 March 2018, the Fund's total dividend payments amounted to 12.985p (equal to 3.5% of the Fund's net asset value of £3.71 on 31 March 2017, in accordance with the dividend policy in effect for the fiscal years ended 31 March 2017).

This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation. Upon the publication of this announcement the inside information within is now considered to be in the public domain.

Enquiries:

Link Company MattersJenny Thompson +44 (0)20 7954 9599

Cenkos Securities plc +44 (0)20 7397 8900Will Rogers Andrew Worne Alex Collins