Baltimore, Maryland — July 17, 2006 — Legg Mason, Inc. (NYSE: LM) will announce operating results for its fiscal 2007 first quarter on Tuesday, July 25, 2006 in a press release that will be issued at approximately 7:00 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 Raymond A. "Chip" Mason, chairman and CEO of Legg Mason, Inc., at 8:45 a.m., E.D.T. This call will be open to the general public. Interested participants can access the conference call by dialing 1-866-219-5885 (or for international calls 1-703-639-1124) at least 10 minutes prior to the scheduled start to ensure connection.

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 or transcript 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 939673, after the completion of the call.

Legg Mason is a global asset management firm, structured as a holding company, with on-the-ground asset management capabilities around the world. The firm is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).

For further information:
Mary Athridge
Corporate Communications
410-454-4421