-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 8PY8FDuh6sQVTVb1X9qA9w==

<SEC-DOCUMENT>0000704051-03-000111.txt : 20030527
<SEC-HEADER>0000704051-03-000111.hdr.sgml : 20030526
<ACCEPTANCE-DATETIME>20030527130229
ACCESSION NUMBER:		0000704051-03-000111
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030331
FILED AS OF DATE:		20030527

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEGG MASON INC
		CENTRAL INDEX KEY:			0000704051
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				521200960
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0331

	BUSINESS ADDRESS:	
		STREET 1:		100 LIGHT ST
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21202-1476
		BUSINESS PHONE:		4105390000

	MAIL ADDRESS:	
		STREET 1:		100 LIGHT ST
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21202-1476

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SCHIPKE ROGER W
		CENTRAL INDEX KEY:			0001212111

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08529
		FILM NUMBER:		03719529

	BUSINESS ADDRESS:	
		STREET 1:		C/O LEG MASON INC
		STREET 2:		100 LIGHT STREET
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21202
		BUSINESS PHONE:		4104544415

	MAIL ADDRESS:	
		STREET 1:		100 LIGHT STREET
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21202
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>

<ownershipDocument>

    <documentType>5</documentType>

    <periodOfReport>2003-03-31</periodOfReport>


    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>1</form4TransactionsReported>

    <issuer>
        <issuerCik>0000704051</issuerCik>
        <issuerName>LEGG MASON INC</issuerName>
        <issuerTradingSymbol>LM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001212111</rptOwnerCik>
            <rptOwnerName>SCHIPKE ROGER W</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Common Stock</value>
        </securityTitle>
        <transactionDate>
            <value>2002-06-03</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>M</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value>L</value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>300</value>
            </transactionShares>
            <transactionValue>
                <value>8.32</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>13332</value>
                <footnoteId id="F1"/>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Stock Options (Right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>8.32</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2002-06-03</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>M</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value>L</value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>300</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1993-07-27</value>
        </exerciseDate>
        <expirationDate>
            <value>2003-07-26</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>300</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>0</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <footnotes>
        <footnote id="F1">The reporting person indirectly owns 1,000 shares of Common Stock by trust.  The reporting person disclaims beneficial ownership of all securities held by trust, and this report should not be deemed an admission that the reporting person is the beneficial owner of such securities for any purposes of Section 16 or for any other purposes.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Thomas C. Merchant, Attorney-in-fact</signatureName>
        <signatureDate>2003-05-27</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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