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  <p align="center" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED
  STATES</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES
  AND EXCHANGE COMMISSION</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington, D.C. 20549</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">FORM&nbsp;8-K</font></b></h1>
  
  <h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT
  REPORT</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">PURSUANT
  TO SECTION&nbsp;13 OR 15(D)&nbsp;OF THE</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">SECURITIES
  EXCHANGE ACT OF 1934</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of Report (Date of earliest event reported): <b>May&nbsp;6,
  2008</b></font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">LEGG
  MASON, INC.</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of registrant as specified in charter)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Maryland</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1-8529</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">52-1200960</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other jurisdiction<br>
    of incorporation)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission File <br>
    Number)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS Employer <br>
    Identification No.)</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.66%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">100 Light Street, Baltimore, Maryland</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.26%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.08%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">21202</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.66%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive offices)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.26%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.08%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Zip Code)</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registrant&#146;s telephone number, including area code:&nbsp;<b>(410) 539-0000</b></font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Not applicable</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Former name or former address, if changed since last report)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.15pt;">Check the appropriate box below if the Form&nbsp;8-K
  filing is intended to simultaneously satisfy the filing obligation of the
  registrant under any of the following provisions (<i>see </i>General
  Instruction A.2. below):</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;letter-spacing:-.15pt;">o</font><font size="2" style="font-size:10.0pt;letter-spacing:-.15pt;">&#160;&#160;&#160; Written communications
  pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</font></p>
  
  <p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;letter-spacing:-.15pt;">o</font><font size="2" style="font-size:10.0pt;letter-spacing:-.15pt;">&#160;&#160;&#160; Soliciting material pursuant
  to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
  
  <p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;letter-spacing:-.15pt;">o</font><font size="2" style="font-size:10.0pt;letter-spacing:-.15pt;">&#160;&#160;&#160; Pre-commencement
  communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17
  CFR 240.14d-2(b))</font></p>
  
  <p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;letter-spacing:-.15pt;">o</font><font size="2" style="font-size:10.0pt;letter-spacing:-.15pt;">&#160;&#160;&#160; Pre-commencement
  communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17
  CFR 240.13e-4(c))</font></p>
  
  <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0in 0in 0in 0in;">
  
  <p align="left" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  </div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="left" style="margin:0in 0in .0001pt;text-align:left;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105627\08-13749-2\task2932809\13749-2-ba.htm',USER='105627',CD='May 12 07:55 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item
  8.01&#160; Other Events.</font></b></p>
  
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Offer and Sale of Equity Units</font></i></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On May&nbsp;6, 2008, Legg Mason,&nbsp;Inc. (the
  &#147;Company&#148;) made available to investors a prospectus supplement, dated May&nbsp;6,
  2008, and a prospectus, dated May&nbsp;6, 2008, with respect to the issuance by
  the Company of 20,000,000 equity units (&#147;Equity Units&#148;).&#160; The Equity Units were offered and sold
  pursuant to an underwriting agreement dated May&nbsp;6, 2008 (the &#147;Underwriting
  Agreement&#148;) among the Company and the underwriters named therein (the &#147;Underwriters&#148;).&#160; The Underwriters have a 13-day option to
  purchase up to an additional 3,000,000 Equity Units, solely to cover
  over-allotments, if any.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each Equity Unit has a stated amount of $50 and is
  initially comprised of (i)&nbsp;a purchase contract which will obligate the
  holder to purchase from the Company, no later than June&nbsp;30, 2011, a
  certain number of shares of the Company&#146;s common stock, $0.10 par value, for
  $50; and (ii)&nbsp;a 1/20, or 5%, undivided beneficial interest in $1,000
  principal amount of the Company&#146;s 5.60% senior notes due June&nbsp;30, 2021
  (the &#147;Notes&#148;).&#160; Holders of the Equity
  Units will be entitled to receive quarterly contract adjustment payments of a
  rate of 1.40%&nbsp;per year of the stated amount of $50 per unit.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Notes were issued pursuant to an indenture, dated May&nbsp;12,
  2008 (the &#147;Base Indenture&#148;), between the Company and The Bank of New York, as
  trustee (the &#147;Trustee&#148;), as amended and supplemented by a supplemental
  indenture dated as of May&nbsp;12, 2008 (the &#147;First Supplemental Indenture&#148;)
  between the Company and the Trustee.&#160; The
  Company filed the Base Indenture on May&nbsp;6, 2008 with the Securities and
  Exchange Commission (the &#147;Commission&#148;) as Exhibit&nbsp;4(a)&nbsp;to the
  Company&#146;s Form&nbsp;S-3.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The purchase contracts are being issued pursuant to a
  Purchase Contract and Pledge Agreement, dated as of May&nbsp;12, 2008 (the
  &#147;Purchase Contract and Pledge Agreement&#148;), among the Company, The Bank of New
  York, in its capacity as the purchase contract agent, and The Bank of New York,
  in its capacity as the collateral agent, custodial agent and securities
  intermediary.&#160; Under the terms of the
  Purchase Contract and Pledge Agreement, the Notes are being pledged as
  collateral to secure the holders&#146; obligation to purchase the shares of common
  stock under the purchase contracts. &#160;The
  Notes will be remarketed, subject to certain terms and conditions, prior to the
  purchase contract settlement date pursuant to the terms of the Purchase
  Contract and Pledge Agreement and a remarketing agreement to be entered into
  among the Company, The Bank of New York, as purchase contract agent, and a
  reset agent and remarketing agent to be designated by the Company.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Current Report on Form&nbsp;8-K is being filed to
  satisfy the requirement to file copies of certain agreements executed in
  connection with the issuance and the offering of the Equity Units.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The foregoing disclosure is qualified in its entirety
  by reference to the Underwriting Agreement which is attached hereto as Exhibit&nbsp;1.1,
  the Purchase Contract and Pledge Agreement, a form of which is attached hereto
  as Exhibit&nbsp;4.1, the form of Corporate Units and Treasury Units which is
  attached hereto as Exhibit&nbsp;4.2, the First Supplemental Indenture, a form
  of which is attached hereto as Exhibit&nbsp;4.3, the form of Note which is
  attached hereto as Exhibit&nbsp;4.4 and the Base Indenture previously filed
  with the Commission as described above.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">April&nbsp;9,
  2008 Credit Agreement Amendment No.&nbsp;3 and Term Loan Amendment No.&nbsp;2</font></i></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On April&nbsp;9, 2008, the Company, as Borrower; Citibank, N.A., as
  Administrative Agent (&#147;Citibank&#148;); and the other banks thereto, entered into
  Amendment No.&nbsp;3 (&#147;Credit Agreement Amendment No.&nbsp;3&#148;) to the unsecured
  Five-Year Revolving Credit Agreement (the &#147;Revolving Credit Agreement&#148;), dated October&nbsp;14,
  2005, among the Company; Citibank; Citigroup Global Markets Inc., as Lead
  Arranger and Book Manager; and Bank of America, N.A., JPMorgan Chase Bank,
  N.A., The Bank of New York and Deutsche Bank AG New York Branch, as
  Co-Syndication Agents; and the other banks thereto (collectively, the
  &#147;Lenders&#148;).&#160; In addition, on April&nbsp;9,
  2008, the Company, Citibank and the other banks thereto, entered into Amendment
  No.&nbsp;2 (&#147;Term Loan Amendment No.&nbsp;2,&#148; and, together with Credit
  Agreement Amendment No.&nbsp;3, the &#147;April&nbsp;9 Amendments&#148;) to the unsecured
  Term Loan Agreement (the &#147;Term Loan Agreement&#148;), dated October&nbsp;14, 2005,
  among the Company and the Lenders.&#160; Each
  of the April&nbsp;9 Amendments excludes from Consolidated EBITDA, for purposes
  of the calculation of the financial </font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105627\08-13749-2\task2932809\13749-2-ba.htm',USER='105627',CD='May 12 07:55 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">covenants, up to a certain amount of cash charges, as well as any cash
  gains, related to asset-backed securities held by funds managed by the Company
  or any of its subsidiaries.&#160; Each of the April&nbsp;9
  Amendments also excludes, for purposes of the calculation of the financial
  covenants and the lien covenant, certain non-recourse indebtedness.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">May&nbsp;7,
  2008 Credit Agreement Amendment No.&nbsp;4 and Term Loan Amendment No.&nbsp;3</font></i></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On May&nbsp;7, 2008, the Company, as Borrower; Citibank; and the other
  banks thereto, entered into Amendment No.&nbsp;4 (&#147;Credit Agreement Amendment No.&nbsp;4&#148;)
  to the Revolving Credit Agreement.&#160; In
  addition, on May&nbsp;7, 2008, the Company, Citibank and the other banks
  thereto, entered into Amendment No.&nbsp;3 (&#147;Term Loan Amendment No.&nbsp;3,&#148;
  and, together with Credit Agreement Amendment No.&nbsp;4, the &#147;May&nbsp;7
  Amendments&#148;) to the Term Loan Agreement.&#160;
  The May&nbsp;7 Amendments exclude, for calculation of the leverage
  ratio, the Equity Units (as defined below) to the extent accorded equity
  treatment by the ratings agencies, as well as the Company&#146;s 6-3/4% Senior Notes
  due July&nbsp;2, 2008 (the &#147;Senior Notes&#148;) to the extent such notes have been
  defeased or satisfied and discharged in full.&#160;
  Each of the May&nbsp;7 Amendments also excludes, for purposes of the
  lien covenant, any amounts held in an escrow or trust account for purposes of defeasing
  or discharging in full the Senior Notes.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Amendment
  to Note Purchase Agreement</font></i></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On May&nbsp;5, 2008, the Company entered into an amendment of the note
  purchase agreement (the &#147;Note Purchase Agreement&#148;), </font><font size="2" style="font-size:10.0pt;">dated as of January&nbsp;14, 2008, by and among the Company,
  an affiliate of Kohlberg Kravis Roberts&nbsp;&amp; Co. L.P. (&#147;KKR&#148;), the other
  purchasers named therein, and, for certain limited purposes, KKR,</font><font size="2" style="font-size:10.0pt;"> in respect of the Company&#146;s 2.5% Convertible Senior Notes due
  2015.&#160; The amendment excludes, for
  calculation of the debt incurrence covenant, the Equity Units, certain
  non-recourse debt, contingent obligations related to assets in which funds
  managed by the Company or any of its subsidiaries have invested, as well as
  certain other amounts.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The foregoing descriptions of the April&nbsp;9
  Amendments, the May&nbsp;7 Amendments and the amendment to the Note Purchase
  Agreement do not purport to be complete and are qualified in their entirety by
  reference to the amendment and agreement documents, which are filed as exhibits
  hereto and incorporated herein by reference.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item
  9.01 Financial Statements and Exhibits.</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&nbsp;Exhibits</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit&nbsp;No.</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="87%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:87.72%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit&nbsp;Title</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.1</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Underwriting Agreement,
    dated May&nbsp;6, 2008, among Legg Mason Inc. and Citigroup Global Markets
    Inc. and Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith Incorporated, as
    representatives of the several underwriters listed on Schedule I thereto.</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.1</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form&nbsp;of Purchase
    Contract and Pledge Agreement, among Legg Mason,&nbsp;Inc. and The Bank of
    New York as Purchase Contract Agent and The Bank of New York as Collateral
    Agent, Custodial Agent and Securities Intermediary.</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.2</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form&nbsp;of Corporate
    Units and Treasury Units (included in Exhibit&nbsp;4.1).</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.3</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form&nbsp;of First
    Supplemental Indenture, between Legg Mason,&nbsp;Inc. and The Bank of New
    York, as Trustee.</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.4</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form&nbsp;of 5.60%
    senior notes due June&nbsp;30, 2021 (included in Exhibit&nbsp;4.3).</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Note Purchase Agreement, dated
    January&nbsp;14, 2008, by and among Legg Mason,&nbsp;Inc., the purchasers
    named therein, and for limited purposes, Kohlberg Kravis Roberts&nbsp;&amp;
    Co. L.P. </font></p>
    </td>
   </tr>
  </table>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\105627\08-13749-2\task2932809\13749-2-ba.htm',USER='105627',CD='May 12 07:55 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(incorporated by reference to the
    Company&#146;s Current Report on Form&nbsp;8-K for the event on January&nbsp;14,
    2008)</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.2</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5-Year Revolving Credit Agreement, dated
    as of October&nbsp;14, 2005, between Legg Mason,&nbsp;Inc., as Borrower;
    Citibank, N.A., as Administrative Agent; Citigroup Global Markets Inc., as
    Lead Arranger and Book Manager; and Bank of America, N.A., JPMorgan Chase
    Bank, N.A., The Bank of New York and Deutsche Bank AG New York Branch, as
    Co-Syndication Agents; and the other banks thereto (incorporated by reference
    to the Company&#146;s Current Report on Form&nbsp;8-K for the event on
    October&nbsp;14, 2005)</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.3</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Term Loan Agreement,
    dated as of October&nbsp;14, 2005, between Legg Mason,&nbsp;Inc., as
    Borrower; Citibank, N.A., as Administrative Agent; Citigroup Global Markets
    Inc., as Lead Arranger and Book Manager; and Bank of America, N.A., JPMorgan
    Chase Bank, N.A., The Bank of New York and Deutsche Bank AG New York Branch,
    as Co-Syndication Agents; and the other banks thereto (incorporated by
    reference to the Company&#146;s Current Report on Form&nbsp;8-K for the event on
    October&nbsp;14, 2005)</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.4</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment, dated May&nbsp;5, 2008, by and
    among Legg Mason,&nbsp;Inc., the purchasers named therein, and for limited
    purposes, Kohlberg Kravis Roberts&nbsp;&amp; Co. L.P., to the note purchase
    agreement, </font><font size="2" style="font-size:10.0pt;">dated as
    of January&nbsp;14, 2008, </font><font size="2" style="font-size:10.0pt;">by and
    among Legg Mason,&nbsp;Inc., the purchasers named therein, and for limited
    purposes, Kohlberg Kravis Roberts&nbsp;&amp; Co. L.P.</font><font size="2" style="font-size:10.0pt;">, </font><font size="2" style="font-size:10.0pt;">filed herewith</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.5</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment No.&nbsp;1 to the 5-Year
    Revolving Credit Agreement, dated as of January&nbsp;3, 2008, between Legg
    Mason,&nbsp;Inc., as Borrower; Citibank, N.A., as Administrative Agent; and
    the other banks thereto </font><font size="2" style="font-size:10.0pt;">(incorporated by reference to the Company&#146;s Current Report on
    Form&nbsp;8-K for the event on January&nbsp;3, 2008)</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.6</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment No.&nbsp;2 to the 5-Year
    Revolving Credit Agreement, dated as of January&nbsp;3, 2008, between Legg
    Mason,&nbsp;Inc., as Borrower; Citibank, N.A., as Administrative Agent; and
    the other banks thereto </font><font size="2" style="font-size:10.0pt;">(incorporated by reference to the Company&#146;s Current Report on
    Form&nbsp;8-K for the event on January&nbsp;3, 2008)</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.7</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment No.&nbsp;3 to the 5-Year
    Revolving Credit Agreement, dated as of April&nbsp;9, 2008, between Legg
    Mason,&nbsp;Inc., as Borrower; Citibank, N.A., as Administrative Agent; and
    the other banks thereto, filed herewith</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.8</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment No.&nbsp;4 to the 5-Year
    Revolving Credit Agreement, dated as of May&nbsp;7, 2008, between Legg
    Mason,&nbsp;Inc., as Borrower; Citibank, N.A., as Administrative Agent; and
    the other banks thereto, filed herewith</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.9</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment No.&nbsp;1 to the Term Loan
    Agreement, dated as of January&nbsp;3, 2008, between Legg Mason,&nbsp;Inc.,
    as Borrower; Citibank, N.A., as Administrative Agent; and the other banks
    thereto </font><font size="2" style="font-size:10.0pt;">(incorporated
    by reference to the Company&#146;s Current Report on Form&nbsp;8-K for the event
    on January&nbsp;3, 2008)</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.10</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment No.&nbsp;2 to the Term Loan
    Agreement, dated as of April&nbsp;9, 2008, between Legg Mason,&nbsp;Inc., as
    Borrower; Citibank, N.A., as Administrative Agent; and the other banks thereto,
    filed herewith</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.11</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment No.&nbsp;3 to the Term Loan
    Agreement, dated as of May&nbsp;7, 2008, between Legg Mason,&nbsp;Inc., as
    Borrower; Citibank, N.A., as Administrative Agent; and the other banks
    thereto, filed herewith</font></p>
    </td>
   </tr>
  </table>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\105627\08-13749-2\task2932809\13749-2-ba.htm',USER='105627',CD='May 12 07:55 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURES</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant
  to the requirements of the Securities Exchange Act of 1934, the registrant has
  duly caused this report to be signed on its behalf by the undersigned hereunto
  duly authorized.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="52%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:52.22%;">
    <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
    </td>
    <td width="47%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:47.78%;">
    <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">LEGG MASON, INC.</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="52%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:52.22%;">
    <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></p>
    </td>
    <td width="47%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:47.78%;">
    <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">(Registrant)</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="52%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:52.22%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.86%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="43%" valign="top" style="padding:0in .7pt 0in .7pt;width:43.92%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="52%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:52.22%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.86%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="43%" valign="top" style="padding:0in .7pt 0in .7pt;width:43.92%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.68%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:</font></p>
    </td>
    <td width="46%" valign="top" style="padding:0in .7pt 0in .7pt;width:46.54%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May&nbsp;12, 2008</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.86%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
    </td>
    <td width="43%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:43.92%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;/s/ Thomas P.
    Lemke</font></p>
    </td>
   </tr>
   <tr>
    <td width="52%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:52.22%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.86%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="43%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:43.92%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Thomas P. Lemke</font></p>
    </td>
   </tr>
   <tr>
    <td width="52%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:52.22%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.86%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="43%" valign="top" style="padding:0in .7pt 0in .7pt;width:43.92%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Vice President and General Counsel</font></p>
    </td>
   </tr>
   <tr height="0">
    <td width="42" style="border:none;"></td>
    <td width="348" style="border:none;"></td>
    <td width="29" style="border:none;"></td>
    <td width="329" style="border:none;"></td>
   </tr>
  </table>
  
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="left" style="margin:0in 0in .0001pt;text-align:left;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105627\08-13749-2\task2932809\13749-2-ba.htm',USER='105627',CD='May 12 07:55 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">INDEX TO EXHIBITS</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit&nbsp;No.</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="87%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:87.72%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit&nbsp;Title</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="87%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.1</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Underwriting Agreement,
    dated May&nbsp;6, 2008, among Legg Mason Inc. and Citigroup Global Markets
    Inc. and Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith Incorporated, as
    representatives of the several underwriters listed on Schedule I thereto.</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.1</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form&nbsp;of Purchase
    Contract and Pledge Agreement, among Legg Mason,&nbsp;Inc. and The Bank of
    New York as Purchase Contract Agent and The Bank of New York as Collateral
    Agent, Custodial Agent and Securities Intermediary.</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.2</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form&nbsp;of Corporate
    Units and Treasury Units (included in Exhibit&nbsp;4.1).</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.3</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form&nbsp;of First
    Supplemental Indenture, between Legg Mason,&nbsp;Inc. and The Bank of New
    York, as Trustee.</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.4</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form&nbsp;of 5.60%
    senior notes due June&nbsp;30, 2021 (included in Exhibit&nbsp;4.3).</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Note Purchase Agreement, dated
    January&nbsp;14, 2008, by and among Legg Mason,&nbsp;Inc., the purchasers
    named therein, and for limited purposes, Kohlberg Kravis Roberts&nbsp;&amp;
    Co. L.P. (incorporated by reference to the Company&#146;s Current Report on
    Form&nbsp;8-K for the event on January&nbsp;14, 2008)</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.2</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5-Year Revolving Credit Agreement, dated
    as of October&nbsp;14, 2005, between Legg Mason,&nbsp;Inc., as Borrower;
    Citibank, N.A., as Administrative Agent; Citigroup Global Markets Inc., as
    Lead Arranger and Book Manager; and Bank of America, N.A., JPMorgan Chase
    Bank, N.A., The Bank of New York and Deutsche Bank AG New York Branch, as Co-Syndication
    Agents; and the other banks thereto (incorporated by reference to the
    Company&#146;s Current Report on Form&nbsp;8-K for the event on October&nbsp;14,
    2005)</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.3</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Term Loan Agreement,
    dated as of October&nbsp;14, 2005, between Legg Mason,&nbsp;Inc., as
    Borrower; Citibank, N.A., as Administrative Agent; Citigroup Global Markets
    Inc., as Lead Arranger and Book Manager; and Bank of America, N.A., JPMorgan
    Chase Bank, N.A., The Bank of New York and Deutsche Bank AG New York Branch,
    as Co-Syndication Agents; and the other banks thereto (incorporated by
    reference to the Company&#146;s Current Report on Form&nbsp;8-K for the event on
    October&nbsp;14, 2005)</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.4</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment, dated May&nbsp;5, 2008, by and
    among Legg Mason,&nbsp;Inc., the purchasers named therein, and for limited
    purposes, Kohlberg Kravis Roberts&nbsp;&amp; Co. L.P., to the note purchase
    agreement, </font><font size="2" style="font-size:10.0pt;">dated as
    of January&nbsp;14, 2008, </font><font size="2" style="font-size:10.0pt;">by and
    among Legg Mason,&nbsp;Inc., the purchasers named therein, and for limited
    purposes, Kohlberg Kravis Roberts&nbsp;&amp; Co. L.P.</font><font size="2" style="font-size:10.0pt;">, </font><font size="2" style="font-size:10.0pt;">filed herewith</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.5</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment No.&nbsp;1 to the 5-Year
    Revolving Credit Agreement, dated as of January&nbsp;3, 2008, between Legg
    Mason,&nbsp;Inc., as Borrower; Citibank, N.A., as Administrative Agent; and
    the other banks thereto </font><font size="2" style="font-size:10.0pt;">(incorporated by reference to the Company&#146;s Current Report on
    Form&nbsp;8-K for the event on January&nbsp;3, 2008)</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.6</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment No.&nbsp;2 to the 5-Year
    Revolving Credit Agreement, dated as of January&nbsp;3, 2008, between Legg
    Mason,&nbsp;Inc., as Borrower; Citibank, N.A., as Administrative Agent; and
    the other banks thereto </font><font size="2" style="font-size:10.0pt;">(incorporated by reference to the Company&#146;s Current Report on
    Form&nbsp;8-K for the event on January&nbsp;3, 2008)</font></p>
    </td>
   </tr>
  </table>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.7</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment No.&nbsp;3 to the 5-Year
    Revolving Credit Agreement, dated as of April&nbsp;9, 2008, between Legg
    Mason,&nbsp;Inc., as Borrower; Citibank, N.A., as Administrative Agent; and
    the other banks thereto, filed herewith</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.8</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment No.&nbsp;4 to the 5-Year
    Revolving Credit Agreement, dated as of May&nbsp;7, 2008, between Legg
    Mason,&nbsp;Inc., as Borrower; Citibank, N.A., as Administrative Agent; and
    the other banks thereto, filed herewith</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.9</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment No.&nbsp;1 to the Term Loan
    Agreement, dated as of January&nbsp;3, 2008, between Legg Mason,&nbsp;Inc.,
    as Borrower; Citibank, N.A., as Administrative Agent; and the other banks
    thereto </font><font size="2" style="font-size:10.0pt;">(incorporated
    by reference to the Company&#146;s Current Report on Form&nbsp;8-K for the event
    on January&nbsp;3, 2008)</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.10</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment No.&nbsp;2 to the Term Loan
    Agreement, dated as of April&nbsp;9, 2008, between Legg Mason,&nbsp;Inc., as
    Borrower; Citibank, N.A., as Administrative Agent; and the other banks
    thereto, filed herewith</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.11</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="87%" valign="top" style="padding:0in .7pt 0in .7pt;width:87.72%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment No.&nbsp;3 to the Term Loan
    Agreement, dated as of May&nbsp;7, 2008, between Legg Mason,&nbsp;Inc., as
    Borrower; Citibank, N.A., as Administrative Agent; and the other banks
    thereto, filed herewith</font></p>
    </td>
   </tr>
  </table>
  
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "a08-13749_28k.htm", "description": "8-K", "secsgml_size_bytes": 90367}]
metadata_filer: {"company-data": {"conformed-name": "LEGG MASON INC", "cik": "0000704051", "assigned-sic": "6282", "irs-number": "521200960", "state-of-incorporation": "MD", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-08529", "film-number": "08821785"}, "business-address": {"street1": "100 LIGHT ST", "city": "BALTIMORE", "state": "MD", "zip": "21202-1476", "phone": "4105390000"}, "mail-address": {"street1": "100 LIGHT ST", "city": "BALTIMORE", "state": "MD", "zip": "21202-1476"}}
text: UNITED
  STATES
  SECURITIES
  AND EXCHANGE COMMISSION
  Washington, D.C. 20549
  FORM 8-K
  CURRENT
  REPORT
  PURSUANT
  TO SECTION 13 OR 15(D) OF THE
  SECURITIES
  EXCHANGE ACT OF 1934
  Date of Report (Date of earliest event reported):
  May 6,
  2008
  LEGG
  MASON, INC.
  (Exact name of registrant as specified in charter)
  Maryland
  1-8529
  52-1200960
  (State or other jurisdiction
  of incorporation)
  (Commission File
  Number)
  (IRS Employer
  Identification No.)
  100 Light Street, Baltimore, Maryland
  21202
  (Address of principal executive offices)
  (Zip Code)
  Registrant's telephone number, including area code:
  (410) 539-0000
  Not applicable
  (Former name or former address, if changed since last report)
  Check the appropriate box below if the Form 8-K
  filing is intended to simultaneously satisfy the filing obligation of the
  registrant under any of the following provisions (
  see
  General
  Instruction A.2. below):
  o
  Written communications
  pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  o
  Soliciting material pursuant
  to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  o
  Pre-commencement
  communications pursuant to Rule 14d-2(b) under the Exchange Act (17
  CFR 240.14d-2(b))
  o
  Pre-commencement
  communications pursuant to Rule 13e-4(c) under the Exchange Act (17
  CFR 240.13e-4(c))
  Item
  8.01  Other Events.
  Offer and Sale of Equity Units
  On May 6, 2008, Legg Mason, Inc. (the
  "Company") made available to investors a prospectus supplement, dated May 6,
  2008, and a prospectus, dated May 6, 2008, with respect to the issuance by
  the Company of 20,000,000 equity units ("Equity Units").  The Equity Units were offered and sold
  pursuant to an underwriting agreement dated May 6, 2008 (the "Underwriting
  Agreement") among the Company and the underwriters named therein (the "Underwriters").  The Underwriters have a 13-day option to
  purchase up to an additional 3,000,000 Equity Units, solely to cover
  over-allotments, if any.
  Each Equity Unit has a stated amount of $50 and is
  initially comprised of (i) a purchase contract which will obligate the
  holder to purchase from the Company, no later than June 30, 2011, a
  certain number of shares of the Company's common stock, $0.10 par value, for
  $50; and (ii) a 1/20, or 5%, undivided beneficial interest in $1,000
  principal amount of the Company's 5.60% senior notes due June 30, 2021
  (the "Notes").  Holders of the Equity
  Units will be entitled to receive quarterly contract adjustment payments of a
  rate of 1.40% per year of the stated amount of $50 per unit.
  The Notes were issued pursuant to an indenture, dated May 12,
  2008 (the "Base Indenture"), between the Company and The Bank of New York, as
  trustee (the "Trustee"), as amended and supplemented by a supplemental
  indenture dated as of May 12, 2008 (the "First Supplemental Indenture")
  between the Company and the Trustee.  The
  Company filed the Base Indenture on May 6, 2008 with the Securities and
  Exchange Commission (the "Commission") as Exhibit 4(a) to the
  Company's Form S-3.
  The purchase contracts are being issued pursuant to a
  Purchase Contract and Pledge Agreement, dated as of May 12, 2008 (the
  "Purchase Contract and Pledge Agreement"), among the Company, The Bank of New
  York, in its capacity as the purchase contract agent, and The Bank of New York,
  in its capacity as the collateral agent, custodial agent and securities
  intermediary.  Under the terms of the
  Purchase Contract and Pledge Agreement, the Notes are being pledged as
  collateral to secure the holders' obligation to purchase the shares of common
  stock under the purchase contracts.  The
  Notes will be remarketed, subject to certain terms and conditions, prior to the
  purchase contract settlement date pursuant to the terms of the Purchase
  Contract and Pledge Agreement and a remarketing agreement to be entered into
  among the Company, The Bank of New York, as purchase contract agent, and a
  reset agent and remarketing agent to be designated by the Company.
  This Current Report on Form 8-K is being filed to
  satisfy the requirement to file copies of certain agreements executed in
  connection with the issuance and the offering of the Equity Units.
  The foregoing disclosure is qualified in its entirety
  by reference to the Underwriting Agreement which is attached hereto as Exhibit 1.1,
  the Purchase Contract and Pledge Agreement, a form of which is attached hereto
  as Exhibit 4.1, the form of Corporate Units and Treasury Units which is
  attached hereto as Exhibit 4.2, the First Supplemental Indenture, a form
  of which is attached hereto as Exhibit 4.3, the form of Note which is
  attached hereto as Exhibit 4.4 and the Base Indenture previously filed
  with the Commission as described above.
  April 9,
  2008 Credit Agreement Amendment No. 3 and Term Loan Amendment No. 2
  On April 9, 2008, the Company, as Borrower; Citibank, N.A., as
  Administrative Agent ("Citibank"); and the other banks thereto, entered into
  Amendment No. 3 ("Credit Agreement Amendment No. 3") to the unsecured
  Five-Year Revolving Credit Agreement (the "Revolving Credit Agreement"), dated October 14,
  2005, among the Company; Citibank; Citigroup Global Markets Inc., as Lead
  Arranger and Book Manager; and Bank of America, N.A., JPMorgan Chase Bank,
  N.A., The Bank of New York and Deutsche Bank AG New York Branch, as
  Co-Syndication Agents; and the other banks thereto (collectively, the
  "Lenders").  In addition, on April 9,
  2008, the Company, Citibank and the other banks thereto, entered into Amendment
  No. 2 ("Term Loan Amendment No. 2," and, together with Credit
  Agreement Amendment No. 3, the "April 9 Amendments") to the unsecured
  Term Loan Agreement (the "Term Loan Agreement"), dated October 14, 2005,
  among the Company and the Lenders.  Each
  of the April 9 Amendments excludes from Consolidated EBITDA, for purposes
  of the calculation of the financial
  covenants, up to a certain amount of cash charges, as well as any cash
  gains, related to asset-backed securities held by funds managed by the Company
  or any of its subsidiaries.  Each of the April 9
  Amendments also excludes, for purposes of the calculation of the financial
  covenants and the lien covenant, certain non-recourse indebtedness.
  May 7,
  2008 Credit Agreement Amendment No. 4 and Term Loan Amendment No. 3
  On May 7, 2008, the Company, as Borrower; Citibank; and the other
  banks thereto, entered into Amendment No. 4 ("Credit Agreement Amendment No. 4")
  to the Revolving Credit Agreement.  In
  addition, on May 7, 2008, the Company, Citibank and the other banks
  thereto, entered into Amendment No. 3 ("Term Loan Amendment No. 3,"
  and, together with Credit Agreement Amendment No. 4, the "May 7
  Amendments") to the Term Loan Agreement. 
  The May 7 Amendments exclude, for calculation of the leverage
  ratio, the Equity Units (as defined below) to the extent accorded equity
  treatment by the ratings agencies, as well as the Company's 6-3/4% Senior Notes
  due July 2, 2008 (the "Senior Notes") to the extent such notes have been
  defeased or satisfied and discharged in full. 
  Each of the May 7 Amendments also excludes, for purposes of the
  lien covenant, any amounts held in an escrow or trust account for purposes of defeasing
  or discharging in full the Senior Notes.
  Amendment
  to Note Purchase Agreement
  On May 5, 2008, the Company entered into an amendment of the note
  purchase agreement (the "Note Purchase Agreement"),
  dated as of January 14, 2008, by and among the Company,
  an affiliate of Kohlberg Kravis Roberts & Co. L.P. ("KKR"), the other
  purchasers named therein, and, for certain limited purposes, KKR,
  in respect of the Company's 2.5% Convertible Senior Notes due
  2015.  The amendment excludes, for
  calculation of the debt incurrence covenant, the Equity Units, certain
  non-recourse debt, contingent obligations related to assets in which funds
  managed by the Company or any of its subsidiaries have invested, as well as
  certain other amounts.
  The foregoing descriptions of the April 9
  Amendments, the May 7 Amendments and the amendment to the Note Purchase
  Agreement do not purport to be complete and are qualified in their entirety by
  reference to the amendment and agreement documents, which are filed as exhibits
  hereto and incorporated herein by reference.
  Item
  9.01 Financial Statements and Exhibits.
  (d) Exhibits
  Exhibit No.
  Exhibit Title
  1.1
  Underwriting Agreement,
    dated May 6, 2008, among Legg Mason Inc. and Citigroup Global Markets
    Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as
    representatives of the several underwriters listed on Schedule I thereto.
  4.1
  Form of Purchase
    Contract and Pledge Agreement, among Legg Mason, Inc. and The Bank of
    New York as Purchase Contract Agent and The Bank of New York as Collateral
    Agent, Custodial Agent and Securities Intermediary.
  4.2
  Form of Corporate
    Units and Treasury Units (included in Exhibit 4.1).
  4.3
  Form of First
    Supplemental Indenture, between Legg Mason, Inc. and The Bank of New
    York, as Trustee.
  4.4
  Form of 5.60%
    senior notes due June 30, 2021 (included in Exhibit 4.3).
  99.1
  Note Purchase Agreement, dated
    January 14, 2008, by and among Legg Mason, Inc., the purchasers
    named therein, and for limited purposes, Kohlberg Kravis Roberts &
    Co. L.P.
  2
  (incorporated by reference to the
    Company's Current Report on Form 8-K for the event on January 14,
    2008)
  99.2
  5-Year Revolving Credit Agreement, dated
    as of October 14, 2005, between Legg Mason, Inc., as Borrower;
    Citibank, N.A., as Administrative Agent; Citigroup Global Markets Inc., as
    Lead Arranger and Book Manager; and Bank of America, N.A., JPMorgan Chase
    Bank, N.A., The Bank of New York and Deutsche Bank AG New York Branch, as
    Co-Syndication Agents; and the other banks thereto (incorporated by reference
    to the Company's Current Report on Form 8-K for the event on
    October 14, 2005)
  99.3
  Term Loan Agreement,
    dated as of October 14, 2005, between Legg Mason, Inc., as
    Borrower; Citibank, N.A., as Administrative Agent; Citigroup Global Markets
    Inc., as Lead Arranger and Book Manager; and Bank of America, N.A., JPMorgan
    Chase Bank, N.A., The Bank of New York and Deutsche Bank AG New York Branch,
    as Co-Syndication Agents; and the other banks thereto (incorporated by
    reference to the Company's Current Report on Form 8-K for the event on
    October 14, 2005)
  99.4
  Amendment, dated May 5, 2008, by and
    among Legg Mason, Inc., the purchasers named therein, and for limited
    purposes, Kohlberg Kravis Roberts & Co. L.P., to the note purchase
    agreement,
  dated as
    of January 14, 2008,
  by and
    among Legg Mason, Inc., the purchasers named therein, and for limited
    purposes, Kohlberg Kravis Roberts & Co. L.P.
  ,
  filed herewith
  99.5
  Amendment No. 1 to the 5-Year
    Revolving Credit Agreement, dated as of January 3, 2008, between Legg
    Mason, Inc., as Borrower; Citibank, N.A., as Administrative Agent; and
    the other banks thereto
  (incorporated by reference to the Company's Current Report on
    Form 8-K for the event on January 3, 2008)
  99.6
  Amendment No. 2 to the 5-Year
    Revolving Credit Agreement, dated as of January 3, 2008, between Legg
    Mason, Inc., as Borrower; Citibank, N.A., as Administrative Agent; and
    the other banks thereto
  (incorporated by reference to the Company's Current Report on
    Form 8-K for the event on January 3, 2008)
  99.7
  Amendment No. 3 to the 5-Year
    Revolving Credit Agreement, dated as of April 9, 2008, between Legg
    Mason, Inc., as Borrower; Citibank, N.A., as Administrative Agent; and
    the other banks thereto, filed herewith
  99.8
  Amendment No. 4 to the 5-Year
    Revolving Credit Agreement, dated as of May 7, 2008, between Legg
    Mason, Inc., as Borrower; Citibank, N.A., as Administrative Agent; and
    the other banks thereto, filed herewith
  99.9
  Amendment No. 1 to the Term Loan
    Agreement, dated as of January 3, 2008, between Legg Mason, Inc.,
    as Borrower; Citibank, N.A., as Administrative Agent; and the other banks
    thereto
  (incorporated
    by reference to the Company's Current Report on Form 8-K for the event
    on January 3, 2008)
  99.10
  Amendment No. 2 to the Term Loan
    Agreement, dated as of April 9, 2008, between Legg Mason, Inc., as
    Borrower; Citibank, N.A., as Administrative Agent; and the other banks thereto,
    filed herewith
  99.11
  Amendment No. 3 to the Term Loan
    Agreement, dated as of May 7, 2008, between Legg Mason, Inc., as
    Borrower; Citibank, N.A., as Administrative Agent; and the other banks
    thereto, filed herewith
  3
  SIGNATURES
  Pursuant
  to the requirements of the Securities Exchange Act of 1934, the registrant has
  duly caused this report to be signed on its behalf by the undersigned hereunto
  duly authorized.
  LEGG MASON, INC.
  (Registrant)
  Date:
  May 12, 2008
  By:
  /s/ Thomas P.
    Lemke
  Thomas P. Lemke
  Senior Vice President and General Counsel
  INDEX TO EXHIBITS
  Exhibit No.
  Exhibit Title
  1.1
  Underwriting Agreement,
    dated May 6, 2008, among Legg Mason Inc. and Citigroup Global Markets
    Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as
    representatives of the several underwriters listed on Schedule I thereto.
  4.1
  Form of Purchase
    Contract and Pledge Agreement, among Legg Mason, Inc. and The Bank of
    New York as Purchase Contract Agent and The Bank of New York as Collateral
    Agent, Custodial Agent and Securities Intermediary.
  4.2
  Form of Corporate
    Units and Treasury Units (included in Exhibit 4.1).
  4.3
  Form of First
    Supplemental Indenture, between Legg Mason, Inc. and The Bank of New
    York, as Trustee.
  4.4
  Form of 5.60%
    senior notes due June 30, 2021 (included in Exhibit 4.3).
  99.1
  Note Purchase Agreement, dated
    January 14, 2008, by and among Legg Mason, Inc., the purchasers
    named therein, and for limited purposes, Kohlberg Kravis Roberts &
    Co. L.P. (incorporated by reference to the Company's Current Report on
    Form 8-K for the event on January 14, 2008)
  99.2
  5-Year Revolving Credit Agreement, dated
    as of October 14, 2005, between Legg Mason, Inc., as Borrower;
    Citibank, N.A., as Administrative Agent; Citigroup Global Markets Inc., as
    Lead Arranger and Book Manager; and Bank of America, N.A., JPMorgan Chase
    Bank, N.A., The Bank of New York and Deutsche Bank AG New York Branch, as Co-Syndication
    Agents; and the other banks thereto (incorporated by reference to the
    Company's Current Report on Form 8-K for the event on October 14,
    2005)
  99.3
  Term Loan Agreement,
    dated as of October 14, 2005, between Legg Mason, Inc., as
    Borrower; Citibank, N.A., as Administrative Agent; Citigroup Global Markets
    Inc., as Lead Arranger and Book Manager; and Bank of America, N.A., JPMorgan
    Chase Bank, N.A., The Bank of New York and Deutsche Bank AG New York Branch,
    as Co-Syndication Agents; and the other banks thereto (incorporated by
    reference to the Company's Current Report on Form 8-K for the event on
    October 14, 2005)
  99.4
  Amendment, dated May 5, 2008, by and
    among Legg Mason, Inc., the purchasers named therein, and for limited
    purposes, Kohlberg Kravis Roberts & Co. L.P., to the note purchase
    agreement,
  dated as
    of January 14, 2008,
  by and
    among Legg Mason, Inc., the purchasers named therein, and for limited
    purposes, Kohlberg Kravis Roberts & Co. L.P.
  ,
  filed herewith
  99.5
  Amendment No. 1 to the 5-Year
    Revolving Credit Agreement, dated as of January 3, 2008, between Legg
    Mason, Inc., as Borrower; Citibank, N.A., as Administrative Agent; and
    the other banks thereto
  (incorporated by reference to the Company's Current Report on
    Form 8-K for the event on January 3, 2008)
  99.6
  Amendment No. 2 to the 5-Year
    Revolving Credit Agreement, dated as of January 3, 2008, between Legg
    Mason, Inc., as Borrower; Citibank, N.A., as Administrative Agent; and
    the other banks thereto
  (incorporated by reference to the Company's Current Report on
    Form 8-K for the event on January 3, 2008)
  99.7
  Amendment No. 3 to the 5-Year
    Revolving Credit Agreement, dated as of April 9, 2008, between Legg
    Mason, Inc., as Borrower; Citibank, N.A., as Administrative Agent; and
    the other banks thereto, filed herewith
  99.8
  Amendment No. 4 to the 5-Year
    Revolving Credit Agreement, dated as of May 7, 2008, between Legg
    Mason, Inc., as Borrower; Citibank, N.A., as Administrative Agent; and
    the other banks thereto, filed herewith
  99.9
  Amendment No. 1 to the Term Loan
    Agreement, dated as of January 3, 2008, between Legg Mason, Inc.,
    as Borrower; Citibank, N.A., as Administrative Agent; and the other banks
    thereto
  (incorporated
    by reference to the Company's Current Report on Form 8-K for the event
    on January 3, 2008)
  99.10
  Amendment No. 2 to the Term Loan
    Agreement, dated as of April 9, 2008, between Legg Mason, Inc., as
    Borrower; Citibank, N.A., as Administrative Agent; and the other banks
    thereto, filed herewith
  99.11
  Amendment No. 3 to the Term Loan
    Agreement, dated as of May 7, 2008, between Legg Mason, Inc., as
    Borrower; Citibank, N.A., as Administrative Agent; and the other banks
    thereto, filed herewith