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LEGG MASON NAMES 'THANKSGIVING LIST' OF STOCK SELECTIONS

 BALTIMORE, Nov. 22 /PRNewswire/ -- Legg Mason Wood Walker, Inc. today released its annual "Thanksgiving List Portfolio" containing its top 12 stock picks for 1994.
 The Baltimore-based regional securities firm disclosed that last year's portfolio rose 46.8 percent. By comparison, the S&P 500 rose 12.4 percent over the same period.
 Legg Mason's Thanksgiving List, an annual portfolio distributed to the firm's clients each year before Thanksgiving, was once a static list but has been changed to a managed portfolio in the last few years.
 "We think the guidelines of a managed portfolio are more appropriate in a rapidly changing investment environment," said E. Robert Quasman, senior vice president and director of research.
 The Thanksgiving List Portfolio is comprised of a dozen stocks which Legg Mason's research department feels represent outstanding investment opportunities for the year ahead. Year-to-year performance measurements have been based on the assumption that an equal amount of money was committed to each of the 12 stocks. This year's selections include:
 Ticker 11/18/93 52-week
 Company Symbol Price($) Range
 AMERICAN PACIFIC(A) APFC 14 37-11
 BAUSCH & LOMB BOL 51-7/8 59-43
 BEVERLY ENTERPRISES BEV 11-3/4 15-9
 HOUGHTON MIFFLIN HTN 46-1/4 50-36
 HUBCO(A) HUBC 21-1/4 25-14
 IMO INDUSTRIES IMD 6-3/4 9-4
 INDEPENDENT BANK CORP.(A) INDB 4-3/8 5-2
 OCTEL COMMUNICATIONS(A) OCTL 25 30-19
 PORTA SYSTEMS PSI 10-1/4 17-6
 SHAWMUT NATIONAL CORP. SNC 20-1/4 26-16
 WABAN, INC. WNB 12-3/4 19-12
 YOUNKERS(A) YONK 25-1/8 36-19
 (A) Legg Mason Wood Walker, Inc. makes a market in this security.
 Consistent with the firm's value-oriented investment management style, this year's stocks either sell at a low multiple of earnings or book value, provide an above average dividend yield or possess other characteristics that suggest they are undervalued or overlooked by investors.
 Since the list was first announced in 1979, its performance has exceeded that of the S&P 500 in 12 out of 15 years. Over the period, Thanksgiving List Portfolio has provided a 28.7 percent average annual return. By comparison, the S&P 500 has provided a 16.9 percent average annual return over the same period.
 Listed below are the 15 years of the Legg Mason Thanksgiving List Portfolio:
 Legg Mason Thanksgiving List Portfolio Performance(A)
 Legg Mason S&P 500
 1979 34.1 percent 17.2 percent
 1980 42.8 percent 41.2 percent
 1981 19.0 percent (5.3 percent)
 1982 56.8 percent 20.5 percent
 1983 44.9 percent 26.6 percent
 1984 29.9 percent 3.9 percent
 1985 35.4 percent 26.2 percent
 1986 26.8 percent 25.8 percent
 1987 (4.0 percent) 3.5 percent
 1988 40.1 percent 14.0 percent
 1989 10.7 percent 32.2 percent
 1990 (24.6 percent) (4.3 percent)
 1991 47.8 percent 23.9 percent
 1992 23.5 percent 15.2 percent
 1993 46.8 percent 12.4 percent
 Average Annual Return
 (1979-1993)
 All figures include dividends.
 Legg Mason Wood Walker, Inc. provides securities brokerage and investment banking services, and is a wholly owned subsidiary of Legg Mason, Inc. (NYSE: LM). Its 78 offices are located in the Eastern and Gulf South regions.
 (A) The Thanksgiving List is comprised of 12 issues recommended in the respective issues of the Legg Mason Wood Walker, Inc. Monthly Investment letter. The results prior to 1991 reflect the performance of an unmanaged list of issues held for an entire year. Beginning in 1991, the list was managed so as to enable the sale of an issue to realize a gain or minimize a problem and the proceeds reinvested. Results do not reflect commissions. The list is not a complete summary of all recommendations made during the respective periods by Legg Mason's research department. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of this list.
 -0- 11/22/93
 /CONTACT: E. Robert Quasman, director of research, ext. 5448, or Geraldine D. Leder, director of marketing, ext. 5881, of Legg Mason, 410-539-0000/
 (LM)


CO: Legg Mason Wood Walker, Inc. ST: Maryland IN: FIN SU: ECO

MK-MP -- PH005 -- 6711 11/22/93 09:34 EST
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Date:Nov 22, 1993
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