X0303 4 2008-08-25 0 0000202375 LAZARE KAPLAN INTERNATIONAL INC LKI 0000921663 TEMPELSMAN MAURICE 19 WEST 44TH STREET 16TH FLOOR NEW YORK NY 10036 1 1 1 0 Chairman of the Board Common Stock 1730409 I Owned through three Grantor Retained Annuity Trusts Common Stock 6434 D Common Stock 1528416 I Partnership Stock Option (Right to Buy) 9.5 2008-08-25 4 A 0 30000 9.5 A 2008-08-25 2013-08-25 Common Stock 30000 120000 D On April 9, 2008, the reporting person created a Grantor Retained Annuity Trust, which contains 1,009,352 shares. The reporting person also has two other Grantor Retained Annuity Trusts which contain 71,679 shares and 649,378 shares of Common Stock, respectively. The shares contained in these three GRAT's were previously directly held by the reporting person. The shares are owned by Leon Tempelsman & Son, a New York limited partnership of which each of Maurice Tempelsman and Leon Tempelsman are sole general partners. Consists of Employee Stock Options granted under the Lazare Kaplan International Inc. Long Term Incentive Plan, subject to shareholder approval. The options vest in three equal installments on 5/31/09, 5/31/10, and 5/31/11. Maurice Tempelsman 2008-08-26