LEGG MASON GLOBAL TRUST, INC.
SUPPLEMENT TO THE:
PRIMARY SHARES PROSPECTUS
NAVIGATOR SHARES PROSPECTUS
DATED MAY 1, 1999
Effective September 15, 1999, Legg Mason Global Government Trust will
change its name to Legg Mason Global Income Trust and the following changes will
take effect:
The Fund will expand its core strategies to include corporate,
mortgage-backed and asset-backed debt securities. The Fund will maintain its
global mandate, but will add investment grade and a limited amount of below
investment grade debt of non-governmental issuers to its current mix of
sovereign credits in developed and emerging markets. Specifically, the Fund will
invest a minimum of 25% of its assets in government and sovereign debt, rather
than the current minimum of 75%.
In contrast to the sovereign debt obligations that the Fund has emphasized
in the past, corporate debt may be subject to greater credit risk, I.E., the
risk that an issuer of securities will be unable to pay principal and interest
when due, or that the value of the security will suffer because investors
believe the issuer is less able to pay. This is broadly gauged by the credit
ratings of the securities in which the Fund invests; however, the ratings are
only the opinions of the agencies issuing them and are not absolute guarantees
as to quality.
The Fund will retain its current overall standard of credit quality by
investing a minimum of 75% of its assets in investment grade securities. The
Fund's investment objective - capital appreciation and current income in order
to achieve an attractive total return consistent with prudent investment risk -
will also remain unchanged.
Investors in the Fund will receive a revised prospectus on or about
September 15, 1999 reflecting the Fund's new investment strategies. Please read
it carefully.
THE DATE OF THIS SUPPLEMENT IS AUGUST 13, 1999.
