Legg Mason Hires Peter Bain to Head High Net WorthAdvisory Group.

Business Editors

BALTIMORE--(BUSINESS WIRE)--June 12, 2000

Legg Mason, Inc. (NYSE: LM) is pleased to announce that Peter L. Bain has joined Legg Mason as Executive Vice President of its Asset Management Group and head of its high net worth advisory management business.

Raymond A. Mason, chairman and CEO of Legg Mason, said, "Peter brings to our asset management effort considerable knowledge and depth, particularly in the high net worth arena." Peter joined Legg Mason from Berkshire Capital Corporation, a privately held, New York City based financial advisory firm which specializes in providing mergers and acquisitions advice to the financial services industry and, in particular, investment management firms.

At Berkshire, Peter was a managing director and a member of the firm's Management Committee.

Peter is a graduate of Trinity College and Harvard Law School.

Legg Mason, Inc., headquartered in Baltimore, is a financial services holding company which provides investment advisory, securities brokerage, investment banking and related financial services through its wholly owned subsidiaries.