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 *
  HIRSCHMANN JAMES W III
 2. Date of Event Requiring Statement (Month/Day/Year)
05/01/2006		 3. Issuer Name and Ticker or Trading Symbol
LEGG MASON INC [LM]
(Last)
(First)
(Middle)
385 E. COLORADO BLVD.		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

PASADENA, CA 91101		 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 9,031
D
 

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
Stock Options (Right to buy) (1) 07/23/1998 07/22/2006 Common Stock 4,879 $ 20.49 D  
Stock Options (Right to buy) (1) 07/23/2002 07/22/2010 Common Stock 13,200 $ 26.31 D  
Stock Options (Right to buy) (1) 07/20/2004 07/22/2012 Common Stock 6,000 $ 52.07 D  
Stock Options (Right to buy) (1) 06/09/2005 07/22/2013 Common Stock 25,000 $ 85.76 D  
Stock Options (Right to buy) (2) 10/17/2005 07/19/2013 Common Stock 45,000 $ 104 D  
Stock Options (Right to buy) (1) 04/17/2006 07/22/2014 Common Stock 50,000 $ 122.93 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
HIRSCHMANN JAMES W III
385 E. COLORADO BLVD.
PASADENA, CA 91101		       President  

Signatures

/s/ Erin L. Clark, Attorney-in-fact for James W. Hirschmann III 05/11/2006
**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) Employee stock options cumulatively exercisable annually in 20% increments commencing on the exercisable date indicated.
(2) Stock options vest ratably over four years starting on the effective grant date and are only exercisable if, within four years of the grant date, Legg Mason, Inc. Common Stock has closed at or above $127.50 per share for 30 consecutive trading days.

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