Legg Mason Appoints Nelson Peltz to Board of Directors

Buffalo, New York 10/30/2009 01:00 AM GMT (TransWorldNews)

Legg Mason, Inc. (NYSE: LM) Has appointed Nelson Peltz to the Board of Directors. Mr. Peltz is the Chief Executive Officer and a founding partner of Trian Fund Management, L.P. With the addition of Mr. Peltz, the Board of Directors now has 14 members, including 13 independent directors. He will be elected on October 27, 2009. Trian Fund Management currently owns 6,946,756 shares, or about 4.3% of Legg Mason's outstanding common stock.

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About Legg Mason

Legg Mason is a global asset management firm, with $703 billion in assets under management as of September 30, 2009. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).

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