January 26, 2000
LAZARD RETIREMENT SERIES, INC.
SUPPLEMENT TO PROSPECTUS DATED MAY 1, 1999
* * *
LAZARD RETIREMENT INTERNATIONAL FIXED-INCOME PORTFOLIO
LAZARD RETIREMENT STRATEGIC YIELD PORTFOLIO
THE FOLLOWING INFORMATION SUPERSEDES ANY CONTRARY INFORMATION
CONTAINED IN THE SECTION OF FUND'S PROSPECTUS ENTITLED "FUND MANAGEMENT."
Investment decisions for each of the Lazard Retirement International
Fixed-Income Portfolio and Lazard Retirement Strategic Yield Portfolio are made
by a team of the Investment Manager's portfolio managers, and no one person is
primarily responsible for the day-to-day management of the assets of the
Portfolio.
