LAZARD ASSET MANAGEMENT LTD
13F-NT, 1999-05-13
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        UNITED STATES


        SECURITIES AND EXCHANGE COMMISSION
        Washington, D.C.  20549

        FORM 13F

        FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended:  03/31/99

Check here if Amendment [ ]; Amendment Number:  ____
  This Amendment (Check only one.):     [ ] is a restatement.
                                        [ ] adds new holdings entries.
                                        
Institutional Investment Manager Filing this Report:

Name:           Lazard Asset Management Ltd.
Address:        21 Moor Street
                London UK 2C2P2HT
                

13F File Number:  28-6558

The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and 
complete, and that it is understood that all required items, statements, 
schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:

Name:   Nicholas S Parkes
Title:  Chief Operating Officer
Phone:  171-588-2721

Signature, Place, and Date of Signing:

    Nicholas S. Parkes		     London, UK                 May 13, 1999
    [Signature]                   [City, State]              [Date]

Report Type (Check only one.):

[ ]   13F HOLDINGS REPORT.  (Check here if all holdings of this reporting 
manager are reported in this report.)

[X]   13F NOTICE.  (Check here if no holdings reported are in this report, and
all holdings are reported by other reporting manager(s).)

[ ]   13F COMBINATION REPORT.  (Check here if a portion of the holdings for 
this reporting manager are reported in this report and a portion are 
reported by other reporting manager(s).)


List of Other Managers Reporting for this Manager:

        13F File Number    Name

        28-61              Lazard Freres & Co. LLC


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