Mid-Cap

Portfolio Manager:

Strategy:

Mid-Cap is designed for investors seeking a long-term capital appreciation through an investment in securities in the mid-cap segment of U.S. markets that are trading at a significant discount to their expected value. The strategy focuses on stocks of companies facing special situations such as unusual or possibly one-time developments that the manager believes make them attractive for investment and on the company's ability to generate excess cash flow, earn high returns on capital, and allocate capital efficiently.

Investment objective: Capital Appreciation

Inception of style: 1985

Mid-Cap Style Assets Under Management: $1.4 billion*

Account Minimum to Invest: $10 million

* Includes Mutual Funds, Registered and Non-Registered Accounts as of 6/30/10.
** Legg Mason Investor Services, LLC is the distributor of this fund. LMIS is a subsidiary of Legg Mason, Inc.