Jan. 2, 2003 — Legg Mason Inc. (LM) said it acquired the business and assets of Rothschild Asset Management (Singapore) Ltd., which manages approximately $1 billion of fixed income and equity assets in separate accounts and unit trusts.

About 70% of these assets are in fixed income accounts, with the remainder primarily in Singapore/Asian-based equity accounts.

Legg Mason noted it will merge the acquired business into its wholly-owned subsidiary, Legg Mason Asset Management (Asia) Pte Ltd.

Terms of the transaction were not disclosed.