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Legg Mason Acquires Singapore Asset Manager

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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.