Legg Mason Appoints Head of International Asset Management

    - Ron Dewhurst to Join Legg Mason as Senior Managing Director -

    BALTIMORE, Feb. 4 /CNW/ -- Legg Mason, Inc. (NYSE:   LM) announced today
that Ronald R. Dewhurst will join the Company as a Senior Managing Director
and Head of International Asset Management. Mr. Dewhurst will become a senior
member of Legg Mason's management team and will focus on accelerating the
expansion of Legg Mason's business outside the U.S.
    Mr. Dewhurst will have responsibility for planning and executing Legg
Mason's global growth strategy, working with Legg Mason investment
subsidiaries and distribution units throughout Europe, Asia and the Americas.
He will maintain offices in London and in Melbourne, Australia. Mr. Dewhurst
will join the firm on February 11th.
    Most recently, Mr. Dewhurst was Chief Executive Officer of I00F, an
investment management company in Australia from 2004 to 2007. Prior to that,
from 1993 - 2002, he held various positions at J.P. Morgan including Head of
Asian Equities, Hong Kong; Head of European Equities, London and Head of the
Americas, New York, for J.P. Morgan Investment Management and J.P. Morgan
Fleming Asset Management. He was also a member of the J.P. Morgan Global
Committee for Private Banking and Asset Management.
    Mark R. Fetting, President and CEO of Legg Mason stated, "Global
expansion is one of our most important priorities as a firm. I believe that we
can build upon the solid base we have in our existing distribution business to
penetrate new markets that represent profitable growth for Legg Mason. Many of
our subsidiaries have already begun to expand their global business, and under
Ron's leadership, we expect to capture more value in markets where we are
already present, and to extend our reach to new markets. Ron's deep expertise
in investment services and his experience across global markets make him an
important addition to our leadership team."
    Mr. Dewhurst said, "I am excited to join Legg Mason, a highly respected
firm that is established in key global markets, but that has room to grow. The
Legg Mason investment subsidiaries represent a truly distinctive group of
best-in-class asset managers. Helping Legg Mason to optimize its global
franchise is a unique opportunity for me, and I look forward very much to
getting started."
    About Legg Mason
    Legg Mason is a global asset management firm, with approximately $998
billion in assets under management as of December 31, 2007. The Company
provides active asset management in many major investment centers throughout
the world. Legg Mason is headquartered in Baltimore, Maryland, and its common
stock is listed on the New York Stock Exchange (symbol: LM).

For further information:

For further information: Maria Rosati of Legg Mason, Inc., 
+1-212-805-6036 Web Site: http://www.leggmason.com

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