Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Abbaei Mike
 2. Date of Event Requiring Statement (Month/Day/Year)
07/19/2007		 3. Issuer Name and Ticker or Trading Symbol
LEGG MASON INC [LM]
(Last)
(First)
(Middle)
100 LIGHT STREET		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Executive Vice President
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

BALTIMORE, MD 21202		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 85,778.05 (1)
D
 
Common Stock 570
I
As UTMA custodian for children

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) 07/24/2001(2) 07/22/2009 Common Stock 30,000 $ 32.69 D  
Employee Stock Option (right to buy) 07/23/2002(2) 07/22/2010 Common Stock 21,000 $ 26.31 D  
Employee Stock Option (right to buy) 07/22/2003(2) 07/22/2011 Common Stock 8,700 $ 46.39 D  
Employee Stock Option (right to buy) 07/20/2004(2) 07/22/2012 Common Stock 5,300 $ 52.07 D  
Employee Stock Option (right to buy) 10/17/2005(2) 07/19/2013 Common Stock 35,000 $ 104 D  
Employee Stock Option (right to buy) 11/29/2005(2) 07/22/2013 Common Stock 10,000 $ 122.91 D  
Employee Stock Option (right to buy) 11/29/2006(2) 07/22/2014 Common Stock 25,000 $ 95.66 D  
Phantom Stock   (3)   (3) Common Stock 11,978.57 $ (4) D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Abbaei Mike
100 LIGHT STREET
BALTIMORE, MD 21202		       Executive Vice President  

Signatures

/s/ Erin L. Clark, Attorney-in-fact for Mike Abbaei 07/30/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Includes 26.0452 shares of Legg Mason, Inc. Common Stock pursuant to the Employee Stock Purchase Plan.
(2) Employee Stock option cumulativey exercisable annually in 20% increments commencing on the exercisable date indicated.
(3) Phantom Stock units acquired pursuant to and under the conditions of the Legg Mason & Co., LLC Deferred Compensation Phantom Stock Plan, as amended. See Exhibit 10.7 of Form 10-K for the fiscal year ended March 31, 2007.
(4) 1-for-1

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