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FILED PURSUANT TO RULE 497(e)
REGISTRATION FILE NO. 33-40682
January 31, 1997
THE LAZARD FUNDS, INC.
INSTITUTIONAL SHARES ONLY
SUPPLEMENT TO PROSPECTUS DATED NOVEMBER 1, 1996
THE FOLLOWING INFORMATION SUPERSEDES ANY CONTRARY INFORMATION CONTAINED IN THE
PROSPECTUS.
The minimum initial investment is $1,000,000 for Institutional Shares
of each Portfolio.
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