Welcome
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 Chip
Mason
CEO, Legg Mason, Inc.
Good morning. I want to tell you how much we appreciate your coming to
this conference. It is going to be a great event. I think you will find
that some of the speakers will be very interesting. This will be very
worth your time, and I appreciate your taking the time to come to the
conference. We will have an array of people here who are involved in the
company. We expect over 1,000 people to be in attendance, which is certainly
a tribute to Bill Miller and the talented group of people who run Legg
Mason Funds.
Thank you for being here. 
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ILLUSTRATIONS
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The comments, opinions, and predictions about any particular security, the economy, and "the market" made by Legg Mason, Inc., Legg Mason Funds Management, Inc., Legg Mason Wood Walker, Inc., and its affiliates are based on their own analysis and any forward predictions that may result from that analysis are not representative of actual future performance of any security, the economy, or "the market".
For a free prospectus containing more complete information, including charges and expenses on any Legg Mason fund, contact your Legg Mason Financial Advisor, call 1-800-577-8589, or visit www.leggmasonfunds.com. Please read the prospectus carefully before investing or sending money.
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