Baltimore, MD - January 18, 2005 - Legg Mason, Inc. (NYSE: LM) announced today that its Board of Directors has declared a regular quarterly dividend on its common stock in the amount of $0.15 per share, payable April 4, 2005 to shareholders of record at the close of business on March 3, 2005.

Legg Mason, Inc., headquartered in Baltimore, is a holding company that provides asset management, securities brokerage, investment banking and related financial services through its subsidiaries.

For further information:
F. Barry Bilson
Legg Mason, Inc
(410) 539-0000