FILED PURSUANT TO RULE 497(e)
REGISTRATION FILE NO. 33-40682
August 26, 1996
THE LAZARD FUNDS, INC.
Supplement to Prospectus Dated May 1, 1996
The following information supplements and supersedes any contrary
information contained in the Prospectus under the caption "Determination of Net
Asset Value."
Debt securities maturing in 60 days or less are valued at amortized
cost, except where to do so would not reflect accurately their fair value, in
which case such securities would be valued at their fair value as determined
under the supervision of the Board of Directors.
