QUARTERLY FINANCIAL DATA (Tables)

12 Months Ended

Mar. 31, 2011

QUARTERLY FINANCIAL DATA

QUARTERLY FINANCIAL DATA

			Quarter Ended
Fiscal 2011(1)			Mar. 31		Dec. 31			Sept. 30		Jun. 30
Operating Revenues			$	713,430	$	721,928		$	674,794	$	674,165
Operating Expenses				614,290		624,936			586,895		571,388
	Operating Income			99,140		96,992			87,899		102,777
Other Non-Operating Income (Expense)				3,486		(9,836	)		15,409		(30,670	)
Income before Income Tax Provision				102,626		87,156			103,308		72,107
		Income tax provision		31,858		33,792			26,720		27,064
Net Income				70,768		53,364			76,588		45,043
		Less: Net income (loss) attributable to noncontrolling interests		1,731		(8,256	)		1,253		(2,888	)
Net Income attributable to Legg Mason, Inc.			$	69,037	$	61,620		$	75,335	$	47,931
Net Income per Share attributable to Legg Mason, Inc. common shareholders:
	Basic		$	0.45	$	0.41		$	0.50	$	0.30
	Diluted			0.45		0.41			0.50		0.30
	Cash dividend per share			0.06		0.06			0.04		0.04
Stock price range:
	High			37.29		37.72			31.04		34.83
	Low			32.21		29.68			24.94		27.36
Assets Under Management:
	End of period		$	677,646	$	671,799		$	673,467	$	645,362
	Average			673,495		672,399			658,585		668,268

(1)

Due to rounding of quarterly results, total amounts for each fiscal year may differ immaterially from the annual results.

As of May 20, 2011, the closing price of Legg Mason's common stock was $33.55.

QUARTERLY FINANCIAL DATA
(Continued)
(Dollars in thousands, except per share amounts)
(Unaudited)

			Quarter Ended
Fiscal 2010(1)			Mar. 31			Dec. 31			Sept. 30			Jun. 30
Operating Revenues			$	671,420		$	690,479		$	659,896		$	613,084
Operating Expenses				565,584			611,331			582,012			554,769
	Operating Income			105,836			79,148			77,884			58,315
Other Non-Operating Income (Expense)				(4,116	)		(6,909	)		(2,891	)		22,389
Income before Income Tax Provision				101,720			72,239			74,993			80,704
		Income tax provision		36,619			26,006			27,671			28,380
Net Income				65,101			46,233			47,322			52,324
		Less: Net income attributable to noncontrolling interests		1,494			1,311			1,548			2,270
Net Income attributable to Legg Mason, Inc.			$	63,607		$	44,922		$	45,774		$	50,054
Net Income per Share attributable to Legg Mason, Inc. common shareholders:
	Basic		$	0.40		$	0.28		$	0.30		$	0.35
	Diluted			0.39			0.28			0.30			0.35
	Cash dividend per share			0.03			0.03			0.03			0.03
Stock price range:
	High			31.95			33.70			33.08			26.74
	Low			24.00			26.99			22.06			15.53
Assets Under Management:
	End of period		$	684,549		$	681,614		$	702,700		$	656,857
	Average			681,227			693,254			684,034			647,218

(1)

Due to rounding of quarterly results, total amounts for each fiscal year may differ immaterially from the annual results.