Lazard Hires Spiro Youakim as a Managing Director in Investment Banking

Enhances Firm’s Global Expertise in Metals & Mining

LONDON--(BUSINESS WIRE)--Lazard Ltd (NYSE:LAZ) announced today that Spiro Youakim has joined the firm as a Managing Director and a senior member of the firm's global Metals & Mining financial advisory team. Based in London, Mr. Youakim joined Lazard from Citigroup, where he was a Managing Director and Head of European Metals & Mining investment banking.

“Spiro is a highly respected investment banker, having advised on some of the most significant and transformational deals in the metals and mining sector”

“Spiro is a highly respected investment banker, having advised on some of the most significant and transformational deals in the metals and mining sector,” said Charles Ward III, President of Lazard. “His specialist skills and industry knowledge will be of tremendous benefit to our clients.”

Mr Youakim, 40, recently advised on a number of major transactions, including Mittal Steel's acquisition of Arcelor; Severstal's acquisitions of Rouge Steel and Lucchini and its equity offering in November 2006; Gerdau's acquisition of Quanex; and the sale by Anglo American of Highveld Steel & Vanadium to Evraz.

“This is a strong addition to our team in London and we are delighted to add a banker of Spiro Youakim's stature to our business," said William Rucker, CEO of Lazard London and Deputy CEO of Lazard's European Investment Banking business. “He brings enormous experience as a senior banker in the metals and mining sector.”

Mr Youakim will work with Lazard’s global Metals & Mining team, which has recently advised on such announced and completed transactions as BHP Billiton's proposed merger with Rio Tinto; Quanex’s spin off of its aluminum building products division and subsequent sale to Gerdau; the merger of ZiniFex with Oxiana; Rank Group's acquisition of Alcoa’s aluminum packaging assets; and the sale of Minnesota Steel to Essar Steel Holdings.

Mr Youakim began his investment-banking career in 1991 at Credit Lyonnais, and in 1996 joined Schroders, which ultimately became part of Citigroup. He was promoted to Managing Director at the end of 2005.

About Lazard

Lazard, one of the world’s preeminent financial advisory and asset management firms, operates from 40 cities across 23 countries in North America, Europe, Australia, Asia, Central and South America. The firm provides advice on mergers and acquisitions, restructuring and capital raising, as well as asset management services, to corporations, partnerships, institutions, governments and individuals. For more information on Lazard, please visit www.lazard.com.

LAZ-G