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LEGG MASON NAMES TABER TO SENIOR ROLE IN INVESTMENT ADVISORY BUSINESS

LEGG MASON NAMES TABER TO SENIOR ROLE IN INVESTMENT ADVISORY BUSINESS
 BALTIMORE, July 9 /PRNewswire/ -- Legg Mason, Inc. (NYSE: LM) announced today that Edward A. Taber III will join the company in late summer as executive vice president, with broad responsibilities in its investment advisory business.
 Taber was previously a managing director and head of the taxable bond division at T. Rowe Price of Baltimore, which he joined in 1973. He was also a member of the management committee and the board of directors of T. Rowe Price Associates, where he served as president and director of several of its mutual funds.
 In making the announcement, Raymond A. Mason, Legg Mason's chairman and chief executive officer said: "Ed Taber will provide senior management coordination of our investment advisory activities. His extensive experience in investment management, particularly in the international and fixed income markets, complements our desire to add to our mutual fund offerings and identify additional opportunities to expand our investment advisory capabilities."
 He added that the company had been looking for an executive to lead its investment management business and was prepared to search the country for the person with the right mix of experience and abilities. He said he was pleased to identify and attract someone of Taber's caliber to Legg Mason from the company's own backyard.
 Taber served as president and director of T. Rowe Price's Prime Reserve Fund, Short-Term Bond Fund, and U.S. Treasury Funds, and he was chairman and director of the GNMA Fund. He was director of the High Yield Fund, the Institutional International Funds, International Equity Fund, International Funds, Inc. and the New Income Funds.
 A graduate of Dartmouth College, he received his M.B.A. from the Harvard Business School. He was a captain in the U.S. Marine Corps and was awarded the Silver Star. Prior to joining T. Rowe Price, he served as treasurer of the Federal Home Loan Bank of Boston.
 Taber, who expects to join Legg Mason on Sept. 8, said of the Legg Mason opportunity: "Legg Mason's position in the investment advisory business reminds me of where T. Rowe Price was a decade ago. It is on the threshold of significant asset growth at a time when the opportunities in the industry have never been greater. It is exciting to look at the possibilities for its investment advisory business and be in a position to shape its future."
 The appointment is subject to confirmation by the company's board of directors at its meeting later this month.
 Legg Mason derives 15 percent of its revenues from its investment advisory activities. Through its subsidiaries, Legg Mason has $11 billion in assets under management. Legg Mason's investment advisory subsidiaries include Western Asset Management Company of Los Angeles, a large institutional fixed income manager, Legg Mason Capital Management of Baltimore, which manages equity, fixed income and cash management portfolios for individuals and institutions, and Legg Mason Fund Adviser, Inc., which manages its family of 10 mutual funds.
 Legg Mason, Inc. is a holding company which provides securities brokerage, investment advisory, investment banking and mortgage banking services through its wholly owned subsidiaries.
 -0- 7/9/92
 /CONTACT: Geraldine D. Leder of Legg Mason, 410-539-0000/
 (LM) CO: Legg Mason, Inc. ST: Maryland IN: FIN SU: PER


CK-OS -- NY040 -- 8128 07/09/92 11:41 EDT
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Date:Jul 9, 1992
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