Exhibit 12.1

LAZARD GROUP LLC

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (a)(b)



The following table sets forth the ratio of earnings to fixed charges for Lazard Group and its subsidiaries on a
consolidated basis.



|                                                                                                                          |  |                                         |         |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|------------------------------------------------------------------------------------------------------------------------- |  | --------------------------------------- | ------- | - | ----------------------- | - | ------- |  | ---- | ------- | ---- | - | ------- |  | - | ------- |  | - | -------
|                                                                                                                          |  | Nine MonthPeriod EndedSeptember 30,2008 |         |   | Year Ended December 31,
|                                                                                                                          |  |                                         | 2007    |   | 2006                    |   | 2005    |  | 2004 |         | 2003
|                                                                                                                          |  | (dollars in thousands)                 
|Operating income (loss) from continuing operations                                                                        |  | $                                       | (28,718 | ) |                         | $ | 436,064 |  | $    | 333,676 |      | $ | 345,676 |  | $ | 367,824 |  | $ | 438,736
|AddFixed charges                                                                                                         |  |                                         | 126,898 |   |                         |   | 154,790 |  |      | 119,698 |      |   | 94,659  |  |   | 55,327  |  |   | 47,664 
|                                                                                                                          |  |                                         |         |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|Operating income from continuing operations before fixed charges                                                          |  | $                                       | 98,180  |   |                         | $ | 590,854 |  | $    | 453,374 |      | $ | 440,335 |  | $ | 423,151 |  | $ | 486,400
|                                                                                                                          |  |                                         |         |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|Fixed Charges:                                                                                                            |  |                                         |         |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|Interest (c)                                                                                                              |  | $                                       | 111,366 |   |                         | $ | 136,529 |  | $    | 104,348 |      | $ | 78,375  |  | $ | 39,551  |  | $ | 34,967 
|Other (d)                                                                                                                 |  |                                         | 15,532  |   |                         |   | 18,261  |  |      | 15,350  |      |   | 16,284  |  |   | 15,776  |  |   | 12,697 
|                                                                                                                          |  |                                         |         |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|Total fixed charges                                                                                                       |  | $                                       | 126,898 |   |                         | $ | 154,790 |  | $    | 119,698 |      | $ | 94,659  |  | $ | 55,327  |  | $ | 47,664 
|                                                                                                                          |  |                                         |         |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|Ratio of earnings to fixed charges (e)                                                                                    |  |                                         |        |   |                         |   | 3.82    |  |      | 3.79    |      |   | 4.65    |  |   | 7.65    |  |   | 10.20  
|                                                                                                                          |  |                                         |         |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|Deficiency in the coverage of operating income from continuing operations before fixed charges to total fixed charges (f) |  | $                                       | 28,718  |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|                                                                                                                          |  |                                         |         |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|Supplemental information, excluding the impact of the LAM Merger (f):                                                     |  |                                         |         |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|Operating income from continuing operations, excluding the impact of the LAM Merger                                       |  | $                                       | 170,832 |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|AddFixed charges                                                                                                         |  |                                         | 126,898 |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|                                                                                                                          |  |                                         |         |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|Operating income from continuing operations before fixed charges, excluding the impact of the LAM Merger                  |  | $                                       | 297,730 |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|                                                                                                                          |  |                                         |         |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|Total fixed charges                                                                                                       |  | $                                       | 126,898 |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|                                                                                                                          |  |                                         |         |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|Ratio of earnings to fixed charges, excluding the impact of the LAM Merger                                                |  |                                         | 2.35    |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        
|                                                                                                                          |  |                                         |         |   |                         |   |         |  |      |         |      |   |         |  |   |         |  |   |        



|(a) | Data presented relates to the Companys continuing operations.
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|(b) | For purposes of computing the ratio of earnings to fixed charges:
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| |  |  | earnings for the nine month period ended September 30, 2008 and for the years ended December 31, 2007, 2006, 2005, 2004 and 2003 represent income from continuing
operations before income taxes and minority interest in net income, and, for periods prior to May 10, 2005, the date of Lazard Ltds equity public offering, before distributions for services rendered by managing directors and employee members
of LAM, and before fixed charges; and
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| |  |  | fixed charges represent the interest expense from continuing operations and the portion of rental expense from continuing operations which represents an appropriate
interest factor.
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|(c) | The Companys policy is to include interest expense on unrecognized tax benefits in income tax expense. Accordingly, such interest expense is not included in the computations
of the ratio of earnings to fixed charges.
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---

|(d) | Other fixed charges consists of the interest factor in rentals.
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|(e) | The results of operations for periods until Lazard Ltds equity public offering and the financing transactions on May 10, 2005 are not comparable to results of operations for
subsequent periods as described below:
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| |  |  | payment for services rendered by Lazard Groups managing directors, which, as a result of Lazard Group operating as a limited liability company, historically
had been accounted for as distributions from members capital, or in some cases as minority interest, rather than as compensation and benefits expense. As a result, Lazard Groups operating income historically had not reflected payments
for services rendered by its managing directors. For periods subsequent to the consummation of the equity public offering, the consolidated financial statements of Lazard Group include all payments for services rendered by its managing directors in
compensation and benefits expense;
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| |  |  | the use of proceeds from the financing transactions; and
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| |  |  | the net incremental expense related to the financing transactions.
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|(f) | The deficiency for the nine month period ended September 30, 2008 was the result of charges for compensation and benefits expense of $197,550 and non-compensation-related
transaction costs of $2,000 recorded in connection with the LAM Merger (see Note 7 of Notes to Condensed Consolidated Financial Statements). Excluding the impact of the LAM Merger, the ratio of earnings to fixed charges would have been 2.35.
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