ClearBridge Advisors Votes Against Cablevision Bid Made by the Dolan Family

    NEW YORK, Oct. 17 /CNW/ - ClearBridge Advisors, a US equity manager owned
by Legg Mason, Inc, (NYSE:   LM) today announced that it has decided to vote its
shares against the proposed $36.26 per share bid made by the founding Dolan
family. At the proposed offering price, ClearBridge Advisors does not feel
that the shareholders are being adequately compensated for the expected growth
in Cablevision's free cash flow -- as reflected in its Schedule 14A dated
September 14, 2007 -- nor the value of the other assets owned by the company.
    As of its most recent 13F filing dated June 30, 2007, ClearBridge
Advisors owned more than 31 million shares with a market value in excess of
$1 billion.

    About ClearBridge Advisors
    ClearBridge Advisors was created in 2005 from the Legg Mason, Inc.
transaction with Citigroup. Focused on equity investing, ClearBridge Advisors
traces its asset management strengths back 40 years to a number of prominent
firms. ClearBridge Advisors manages more than $112 billion(*) in assets for
individual and institutional investors in approximately 75 countries across
the globe.

    (*) As of June 30, 2007

For further information:

For further information: Maria Rosati of Legg Mason, +1-212-805-6036,
Web Site:

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