Edgar Filing: Lazard Ltd

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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3235-0287

Expires:

January 31, 2005

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

GOLDMAN SACHS GROUP INC/

2. Issuer Name and Ticker or Trading Symbol
Lazard Ltd [LAZ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

85 BROAD ST,

3. Date of Earliest Transaction (Month/Day/Year)
05/06/2005

(Street)

NEW YORK, NY 10004

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	05/06/2005		S		1,400	D	$ 24.17	5,978,700	I	See Footnote ⁽¹⁾
Class A Common Stock	05/06/2005		S		1,000	D	$ 24.16	5,977,700	I	See Footnote ⁽¹⁾
Class A Common Stock	05/06/2005		S		500	D	$ 24.12	5,977,200	I	See Footnote ⁽²⁾
Class A Common Stock	05/06/2005		S		5,700	D	$ 24.11	5,971,500	I	See Footnote ⁽¹⁾
Class A Common Stock	05/06/2005		S		500	D	$ 24.1	5,971,000	I	See Footnote ⁽¹⁾
Class A Common Stock	05/06/2005		P		95,000	A	$ 24	6,066,000	I	See Footnote ⁽¹⁾
Class A Common Stock	05/06/2005		P		25,000	A	$ 23.9	6,091,000	I	See Footnote ⁽¹⁾
Class A Common Stock	05/06/2005		P		10,000	A	$ 23.75	6,101,000	I	See Footnote ⁽¹⁾
Class A Common Stock	05/06/2005		S		1,000	D	$ 24.25	6,100,000	I	See Footnote ⁽¹⁾
Class A Common Stock	05/09/2005		P		4,000	A	$ 25	6,104,000	I	See Footnote ⁽¹⁾
Class A Common Stock	05/09/2005		P		50,000	A	$ 23.7	6,154,000	I	See Footnote ⁽¹⁾
Class A Common Stock	05/09/2005		S		2,500	D	$ 23.3	6,151,500	I	See Footnote ⁽¹⁾
Class A Common Stock	05/09/2005		S		53,000	D	$ 23.29	6,098,500	I	See Footnote ⁽¹⁾
Class A Common Stock	05/09/2005		S		200	D	$ 23.25	6,098,300	I	See Footnote ⁽¹⁾
Class A Common Stock	05/09/2005		S		2,600	D	$ 23.24	6,095,700	I	See Footnote ⁽¹⁾
Class A Common Stock	05/09/2005		S		1,200	D	$ 23.23	6,094,500	I	See Footnote ⁽¹⁾
Class A Common Stock	05/09/2005		P		2,500	A	$ 23.2	6,097,000	I	See Footnote ⁽¹⁾
Class A Common Stock	05/09/2005		P		80	A	$ 23.16	6,097,080	I	See Footnote ⁽¹⁾
Class A Common Stock	05/09/2005		P		25,000	A	$ 23	6,122,080	I	See Footnote ⁽¹⁾
Class A Common Stock	05/09/2005		S		195,100	D	$ 23	5,926,980	I	See Footnote ⁽¹⁾
Class A Common Stock	05/09/2005		P		25,000	A	$ 22.99	5,951,980	I	See Footnote ⁽¹⁾
Class A Common Stock	05/09/2005		P		225,000	A	$ 22.98	6,176,980	I	See Footnote ⁽¹⁾
Class A Common Stock	05/09/2005		P		100	A	$ 22.89	6,177,080	I	See Footnote ⁽¹⁾
Class A Common Stock	05/09/2005		S		70,000	D	$ 24.1	6,107,080	I	See Footnote ⁽¹⁾
Class A Common Stock	05/09/2005		P		74,000	A	$ 23.02	6,181,080	I	See Footnote ⁽¹⁾
Class A Common Stock	05/10/2005		P		16,800	A	$ 23.42	6,197,880	I	See Footnote ⁽¹⁾
Class A Common Stock	05/10/2005		P		36,500	A	$ 23.16	6,234,380	I	See Footnote ⁽¹⁾
Class A Common Stock	05/10/2005		S		9,000	D	$ 23.38	6,225,380	I	See Footnote ⁽¹⁾
Class A Common Stock	05/10/2005		S		232,000	D	$ 23.3	5,993,380	I	See Footnote ⁽¹⁾
Class A Common Stock	05/10/2005		P		1,100	A	$ 23.3	5,994,480	I	See Footnote ⁽¹⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
GOLDMAN SACHS GROUP INC/ 85 BROAD ST NEW YORK, NY 10004		X
GOLDMAN SACHS & CO 85 BROAD ST C/O GOLDMAN SACHS & CO NEW YORK, NY 10004		X

Signatures

/s/ Ted Chang, Attorney-in-Fact		05/23/2005
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The securities reported herein as indirectly purchased and sold were beneficially owned directly by Goldman, Sachs & Co. ("Goldman Sachs"). Without admitting any legal obligation, Goldman Sachs will remit appropriate profits, if any, to the Issuer. Goldman Sachs is a wholly-owned subsidiary of The Goldman Sachs Group, Inc.
(2)	The securities reported herein as purchased and sold were purchased and sold and were beneficially owned directly by Goldman Sachs International ("GSI"). Without admitting any legal obligation, GSI or an affiliate will remit appropriate profits, if any, to the Issuer. GSI is a wholly-owned subsidiary of The Goldman Sachs Group, Inc.

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