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Legg Mason Reports Assets Under Management for September 2010

BALTIMORE, Oct. 12 /PRNewswire-FirstCall/ -- Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of $674 billion as of September 30, 2010.

                             LEGG MASON, INC. AND SUBSIDIARIES
                                   (Amounts in billions)
                                        (Unaudited)

    Assets Under
     Management
                 Preliminary
                               September
                                  2010    June 2010  March 2010
                             ----------   ---------  ----------
    Equity                         $169.6     $155.8     $173.8
    Fixed
     Income                         371.6      357.9      364.3
                                    -----      -----      -----
      Long-Term                     541.2      513.7      538.1
    Liquidity                       132.3      131.7      146.4
                                    -----      -----      -----
      Total                        $673.5     $645.4     $684.5
                                   ------     ------     ------

    Assets Under
     Management
                  Preliminary
                                   December              September
                                     2009                 2009
                                 ---------           ----------
    Equity                            $168.7               $165.6
    Fixed
     Income                            365.8                385.7
                                       -----                -----
      Long-Term                        534.5                551.3
    Liquidity                          147.1                151.4
                                       -----                -----
      Total                           $681.6               $702.7
                                      ------               ------

A conference call to discuss the company's results will be hosted by Mark R. Fetting, chairman and CEO of Legg Mason, Inc., at 8:30 a.m., E.D.T. on October 27, 2010. This call will be open to the general public. Interested participants can access the conference call by dialing 1-866-843-0890 (or for international calls 1-412-317-9250) enter elite number 2878175 when prompted. Please dial in at least 10 minutes prior to the scheduled start to ensure connection. The call will also be accessible through the firm's website at www.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 1-877-344-7529 (or for international calls 1-412-317-0088), conference number 444905. Please note that the replay will be available beginning at 5:00 p.m. E.D.T. on Wednesday, October 27, 2010 and ending on November 11, 2010.

About Legg Mason

Legg Mason is a global asset management firm with $674 billion in assets under management as of September 30, 2010. 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).

SOURCE Legg Mason, Inc.