Donald Froude tapped by Legg Mason 10/4/06

Legg Mason Names Donald E. Froude Head of U.S. Retail Distribution


BALTIMORE, Oct. 4 /PRNewswire-FirstCall/ -- Legg Mason, Inc. (NYSE: LM)
today announced the appointment of Donald E. Froude as managing director
and head of U.S. Distribution. With almost 30 years of investment services
experience, Froude will be responsible for the group's overall management
including sales, marketing, client service, product development and
business development throughout the United States.
Froude joins from Columbia Management, the asset management arm of Bank
of America, where he served as president of intermediary distribution from
2004 to 2006. Prior to that, he was chief executive officer of Quick &
Reilly, the brokerage investment arm of Fleet Boston Financial that was
folded into Bank of America in 2004. Prior to joining Quick & Reilly, he
held several leadership positions at Prudential Securities and Deutsche
Bank Alex Brown.
"Don is an accomplished business leader whose diverse sales experience
fits well with the mission of U.S. distribution as we build the new Legg
Mason after the acquisition of Citigroup's asset management businesses in
December, 2005. His chief responsibility will be to grow our assets under
management and build our U.S. business across a broader array of third
party distribution channels," stated Mark Fetting, senior executive vice
president and head of Legg Mason's managed global investments.
"Don is ideally positioned to work with our talented sales teams at
Legg Mason as we take advantage of the tremendous opportunity to bring our
highly regarded investment managers into the expanded distribution
platforms acquired with Citigroup's asset management business. Having
someone with his team-oriented approach and impressive track record will
complement the skills of our existing leaders as they undertake this
exciting task," continued Fetting.
Legg Mason, Inc. is a global asset management firm, structured as a
holding company, with on-the-ground capabilities around the world. As of
June 30, 2006, its assets under management aggregated approximately $855
billion. The firm is headquartered in Baltimore, Maryland, and its common
stock is listed on the New York Stock Exchange (symbol: LM).