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 and the pro forma ratio of earnings to fixed charges
for Lazard Group and its subsidiaries on a consolidated basis.



|                                                                 |  |                                          |         |                         |      |                                          |      |                             |         |  |      |         |  |           |         |  |   |         |  |   |         |  |   |        
|---------------------------------------------------------------- |  | ---------------------------------------- | ------- | ----------------------- | ---- | ---------------------------------------- | ---- | --------------------------- | ------- |  | ---- | ------- |  | --------- | ------- |  | - | ------- |  | - | ------- |  | - | -------
|                                                                 |  |                                          |         |                         |      |                                          |      |                             |         |  |      |         |  | Pro Forma
|                                                                 |  | Nine MonthPeriod EndedSeptember 30, 2007 |         | Year Ended December 31, |      | Nine MonthPeriod EndedSeptember 30, 2007 |      | Year EndedDecember 31, 2006
|                                                                 |  |                                          | 2006    |                         | 2005 |                                          | 2004 |                             | 2003    |  | 2002 |         | 
|                                                                 |  | (dollars in thousands)                   |         |                         |      |                                         
|Operating income from continuing operations                      |  | $                                        | 286,468 |                         | $    | 333,676                                  |      | $                           | 345,676 |  | $    | 367,824 |  | $         | 438,736 |  | $ | 357,861 |  | $ | 269,808 |  | $ | 296,816
|AddFixed charges                                                |  |                                          | 111,416 |                         |      | 119,698                                  |      |                             | 94,659  |  |      | 55,327  |  |           | 47,664  |  |   | 40,039  |  |   | 128,076 |  |   | 156,558
|                                                                 |  |                                          |         |                         |      |                                          |      |                             |         |  |      |         |  |           |         |  |   |         |  |   |         |  |   |        
|Operating income from continuing operations before fixed charges |  | $                                        | 397,884 |                         | $    | 453,374                                  |      | $                           | 440,335 |  | $    | 423,151 |  | $         | 486,400 |  | $ | 397,900 |  | $ | 397,884 |  | $ | 453,374
|                                                                 |  |                                          |         |                         |      |                                          |      |                             |         |  |      |         |  |           |         |  |   |         |  |   |         |  |   |        
|Fixed Charges:                                                   |  |                                          |         |                         |      |                                          |      |                             |         |  |      |         |  |           |         |  |   |         |  |   |         |  |   |        
|Interest (c)                                                     |  | $                                        | 98,437  |                         | $    | 104,348                                  |      | $                           | 78,375  |  | $    | 39,551  |  | $         | 34,967  |  | $ | 29,966  |  | $ | 115,097 |  | $ | 141,208
|Other (d)                                                        |  |                                          | 12,979  |                         |      | 15,350                                   |      |                             | 16,284  |  |      | 15,776  |  |           | 12,697  |  |   | 10,073  |  |   | 12,979  |  |   | 15,350 
|                                                                 |  |                                          |         |                         |      |                                          |      |                             |         |  |      |         |  |           |         |  |   |         |  |   |         |  |   |        
|Total fixed charges                                              |  | $                                        | 111,416 |                         | $    | 119,698                                  |      | $                           | 94,659  |  | $    | 55,327  |  | $         | 47,664  |  | $ | 40,039  |  | $ | 128,076 |  | $ | 156,558
|                                                                 |  |                                          |         |                         |      |                                          |      |                             |         |  |      |         |  |           |         |  |   |         |  |   |         |  |   |        
|Ratio of earnings to fixed charges (e)                           |  |                                          | 3.57    |                         |      | 3.79                                     |      |                             | 4.65    |  |      | 7.65    |  |           | 10.20   |  |   | 9.94    |  |   | 3.11    |  |   | 2.90   
|                                                                 |  |                                          |         |                         |      |                                          |      |                             |         |  |      |         |  |           |         |  |   |         |  |   |         |  |   |        

---

|(a) | Data presented relates to the Companys continuing operations.
|--- | --------------------------------------------------------------



|(b) | For purposes of computing the ratio of earnings to fixed charges:
|--- | -----------------------------------------------------------------



| |  |  | earnings for the nine month period ended September 30, 2007 and for the years ended December 31, 2006, 2005, 2004, 2003 and 2002 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 as described in Note 1 of the accompanying Notes to Condensed Consolidated Financial
Statements, before distributions for services rendered by managing directors and employee members of LAM, and before fixed charges,
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | 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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| | The pro forma ratio of earnings to fixed charges gives effect to the net incremental interest expense related to the June, 2007 issuance of $600 million aggregate principal amount
of 6.85% senior notes due 2017 and the repayment of Lazard Group LLCs $96 million senior promissory note and $50 million subordinated promissory note.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|(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 and pro forma ratio of earnings to fixed charges.
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|(d) | Other fixed charges consists of the interest factor in rentals.
|--- | ---------------------------------------------------------------



|(e) | The results of operations for periods until the 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.
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the use of proceeds from the financing transactions.
| | - |  | ----------------------------------------------------



| |  |  | the net incremental expense related to the financing transactions.
| | - |  | ------------------------------------------------------------------