Legg Mason Hosting Conference Call to Discuss Fiscal Second Quarter Operating Results

    - General Public Invited to Participate Via Special Access Line -

    BALTIMORE, Oct. 20 /CNW/ -- Legg Mason, Inc. (NYSE:   LM) will announce
operating results for its fiscal 2009 second quarter ended September 30, 2008
on Wednesday, October 29, 2008 in a press release that will be issued at
approximately 8:00 a.m., E.D.T.  The press release will also be available on
the firm's Web site at leggmason.com.
    A conference call to discuss the company's results will be hosted by Mark
R. Fetting, President and CEO of Legg Mason, Inc., at 10:00 a.m., E.D.T.  This
call will be open to the general public.  Interested participants can access
the conference call by dialing 1-866-261-7147 (or for international calls
1-703-639-1227) at least 10 minutes prior to the scheduled start to ensure
    The call will also be accessible through the firm's Web site at
leggmason.com.  For those participants unable to listen to the live broadcast
of the conference call, a replay will be available on the Legg Mason Web site
under the Investor Relations section or by dialing 1-888-266-2081 (or for
international calls 1-703-925-2533), access Pin Number 1296997 after the
completion of the call.  Please note that the replay will be available
beginning at 3:00 p.m., E.D.T. on Wednesday, October 29, 2008 and ending on
November 12, 2008.
    Legg Mason, Inc. is a global asset management firm, with $923 billion in
assets under management as of June 30, 2008.  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).
    Legg Mason, Inc.

For further information:

For further information: Mary Athridge, Corporate Communications, of
Legg Mason, Inc., +1-212-805-6035 Web Site: http://www.leggmason.com

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