The Securities and Exchange Commission's ("SEC") primary purpose for adopting Rule 11Ac1-5 ("Rule5") is to increase the visibility of execution quality for public investors. Rule5 requires market centers that trade national-market system securities to make available to the public monthly electronic reports that include uniform statistical measures of execution quality.

To facilitate comparisons across market centers, Rule5 adopts basic measures of execution quality (such as effective spread, rate of price improvement and disimprovement, fill rates, and speed of execution). Rule5 also sets forth specific instructions on how the measures are to be calculated. The statistical information is categorized by individual security, by order type (e.g., market and limit), and by four order sizes (100-499 shares, 500-1999 shares, 2000-4999 shares and 5000 or more shares).

Rule 11Ac1-5 reports are available for Legg Mason Wood Walker, Inc. by clicking here.

The SEC's primary purpose for adopting Rule 11Ac1-6 ("Rule6") is to assure public disclosure of the significant venues to which a broker/dealer routes its client's orders and to facilitate an evaluation of potential conflicts of interest between the broker/dealer and its clients. Rule6 requires broker/dealers that route orders in equity and option securities to make publicly available quarterly reports that identify the venues to which client orders are routed for execution. The venues that must be disclosed include the top ten and any others that receive 5 % or more of the broker/dealers orders. In addition, broker/dealers are required to disclose to clients, on request, the venues to which their individual orders were routed. The quarterly reports must also disclose the material aspects of the broker/dealer's relationship with those venues.

Rule 11Ac1-6 reports are available for Legg Mason Wood Walker, Inc. by clicking here.

For further information please visit the Securities and Exchange website at www.sec.gov.