As filed with the Securities and Exchange Commission on April 30, 1999.
1933 Act File No. 33-56672
1940 Act File No. 811-7418
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 [X]
Pre-Effective Amendment No. [ ]
Post-Effective Amendment No. 15 [X]
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 [X]
Amendment No. 17
LEGG MASON GLOBAL TRUST, INC.
(Exact Name of Registrant as Specified in Charter)
100 Light Street
Baltimore, Maryland 21202
(Address of Principal Executive Offices)
Registrant's Telephone Number, including Area Code: (410) 539-0000
Copies to:
CHARLES A. BACIGALUPO ARTHUR C. DELIBERT, ESQ.
100 Light Street Kirkpatrick & Lockhart LLP
Baltimore, Maryland 21202 1800 Massachusetts Ave., N.W.
(Name and Address of Second Floor
Agent for Service) Washington, D.C. 20036-1800
It is proposed that this filing will become effective:
[ ] immediately upon filing pursuant to Rule 485(b)
[X] on May 1, 1999 pursuant to Rule 485(b)
[ ] 60 days after filing pursuant to Rule 485(a)(i)
[ ] on _________ pursuant to Rule 485(a)(i)
[ ] 75 days after filing pursuant to Rule 485(a)(ii)
[ ] on , 1999 pursuant to Rule 485(a)(ii)
If appropriate, check the following box:
[ ] This post-effective amendment designates a new effective date for a
previously filed post-effective amendment.
<PAGE>
Legg Mason Global Trust, Inc.
Contents of Registration Statement
This registration statement consists of the following papers and documents.
Cover Sheet
Table of Contents
Cross Reference Sheet
Legg Mason Global Government Trust -- Primary Shares
Legg Mason International Equity Trust -- Primary Shares
Legg Mason Emerging Markets Trust -- Primary Shares
Part A - Prospectus*
Navigator Global Government Trust
Navigator International Equity Trust
Navigator Emerging Markets Trust
Part A - Prospectus*
Legg Mason Global Government Trust
Legg Mason International Equity Trust
Legg Mason Emerging Markets Trust
(Primary Shares and Navigator Shares)
Part B - Statement of Additional Information*
Part C - Other Information
Signature Page
Exhibits
*Previously filed in Post-Effective Amendment No. 14 to the Registrant's
registration statement, SEC File No. 33-56672, on March 2, 1999.
<PAGE>
Legg Mason Global Trust, Inc.
Form N-1A Cross Reference Sheet
<TABLE>
<CAPTION>
PART A. ITEM NUMBER - PRIMARY SHARES PROSPECTUS PRIMARY SHARES PROSPECTUS CAPTION
<S> <C>
1. Front and Back Cover Pages Same
2. Risk/Return Summary: Investments, Risks and Performance Investment Objectives; Risks; Performance
3. Risk/Return Summary: Fee Table Fees and Expenses of the Funds
4. Investment Objectives, Principal Investment Strategies, Investment Objectives; Risks
and Related Risks
5. Management's Discussion of Fund Performance Not Applicable
6. Management, Organization and Capital Structure Management
7. Shareholder Information How to Invest; How to Sell Your Shares; Account
Policies; Services for Investors; Dividends and Taxes
8. Distribution Arrangements Management; How to Invest
9. Financial Highlights Information Financial Highlights
PART A. ITEM NUMBER - NAVIGATOR SHARES PROSPECTUS NAVIGATOR SHARES PROSPECTUS CAPTION
1. Front and Back Cover Pages Same
2. Risk/Return Summary: Investments, Risks and Performance Investment Objectives; Risks; Performance
3. Risk/Return Summary: Fee Table Fees and Expenses of the Funds
4. Investment Objectives, Principal Investment Strategies, Investment Objectives; Risks
and Related Risks
5. Management's Discussion of Fund Performance Not Applicable
6. Management, Organization and Capital Structure Management
7. Shareholder Information How to Invest; How to Sell Your Account Policies; Services
for Investors; Dividends and Taxes Shares;
8. Distribution Arrangements Management
9. Financial Highlights Information Financial Highlights
PART B. ITEM NUMBER STATEMENT OF ADDITIONAL INFORMATION CAPTION
10. Cover Page and Table of Contents Same
11. Fund History Description of the Funds
12. Description of the Fund and Its Investments and Risks Description of the Funds; Fund Policies; Investment Strategies and
Risks
13. Management of the Fund Management of the Funds
14. Control Persons and Principal Holders of Securities Management of the Funds
15. Investment Advisory and Other Services Management Agreement; Investment Advisory Agreement; The
Funds' Distributor
16. Brokerage Allocation and Other Practices Portfolio Transactions and Brokerage
17. Capital Stock and Other Securities Capital Stock Information
18. Purchase, Redemption, and Pricing of Shares Additional Purchase and Redemption Information;
Valuation of Fund Shares
19. Taxation of the Fund Additional Tax Information; Tax-Deferred Retirement Plans
20. Underwriters The Funds' Distributor
21. Calculation of Performance Data Performance Information
22. Financial Statements Financial Statements
Information required to be included in Part C is set forth under the appropriate
item, so numbered, in Part C of this Registration Statement.
</TABLE>
<PAGE>
Legg Mason Global Trust, Inc.
Part C. Other Information
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Item 23. Exhibits
(A) (a) Articles of Incorporation 4
(b) Articles Supplementary 4
(c) Articles of Amendment 4
(d) Articles Supplementary 2
(e) Articles of Amendment 4
(B) By-Laws 4
(C) Specimen security -- not applicable
(D) (a) Investment Advisory Agreement--International Equity Trust 1
(b) Management Agreement--International Equity Trust 1
(c) Amended Investment Advisory Agreement -- Global Government
Trust 4
(c) (i) Investment Sub-Advisory Agreement -- Global Government
Trust 5
(ii) Sub-Administration Agreement -- Global Government Trust 5
(d) Management Agreement--
Global Government Trust 1
(e) Investment Advisory Agreement--Emerging Markets Trust3
(f) Management Agreement--Emerging Markets Trust3
(E) Underwriting Agreement
(a) Global Government Trust 4
(b) International Equity Trust 4
(c) Emerging Markets Trust 3
(F) Bonus, profit sharing or pension plans -- none
(G) Custodian Agreement 4
(a) Amendment to Custodian Agreement 4
(H) (a) Transfer Agency and Service Agreement 4
(b) Credit Agreement 5
(c) Credit Agreement Amendment 6
(I) Opinion and consent of counsel
(a) Opinion of Counsel
(1) Global Government Trust 4
(2) International Equity Trust 4
(3) Emerging Markets Trust 2
(b) Consent of Counsel -- filed herewith
(J) Other opinions, appraisals, rulings and consents --
Accountant's consent
(a) Global Government Trust 7
(b) International Equity Trust 7
(c) Emerging Markets Trust 7
(K) Financial statements omitted from Item 22 -- none
(L) Agreement for providing initial capital 4
(M) Plan pursuant to Rule l2b-1
(a) Global Government Trust 4
(b) International Equity Trust 4
(c) Emerging Markets Trust 3
(N)(27) Financial Data Schedules 7
(O) Copies of Plans Pursuant to Rule 18f-3 -- none
</TABLE>
- -----------------
1 Incorporated by reference to corresponding Exhibit of Post-Effective Amendment
No. 7 to the registration statement, SEC File No. 33-56672, filed August 31,
1995.
2 Incorporated by reference to corresponding Exhibit of Post-Effective Amendment
No. 8 to the registration
<PAGE>
statement, SEC File No. 33-56672, filed February 16, 1996.
3 Incorporated by reference to corresponding Exhibit of Post-Effective Amendment
No. 9 to the registration statement, SEC File No. 33-56672, filed November 18,
1996.
4 Incorporated by reference to corresponding Exhibit of Post-Effective Amendment
No. 12 to the registration statement, SEC File No. 33-56672, filed April 30,
1997.
5 Incorporated by reference to corresponding Exhibit of Post-Effective Amendment
No. 13 to the registration statement, SEC File No. 33-56672, filed April 30,
1998.
6 Incorporated by reference to corresponding exhibit of Bartlett Capital
Trust's Registration Statement, Post-Effective Amendment No. 27, SEC File No.
2-80648, filed March 2, 1999.
7 Incorporated by reference to the corresponding Exhibit of Post-Effective
Amendment No. 14 to the registration statement, SEC File No. 33-56672, filed
March 2, 1999.
Item 24. Persons Controlled by or under Common Control with Registrant
None.
Item 25. Indemnification
Article ELEVENTH of the Articles of Incorporation provides that to the
maximum extent permitted by applicable law (including Maryland law and the
Investment Company Act of 1940 "1940 Act") the directors and officers of the
Registrant shall not be liable to the Registrant or to any of its stockholders
for monetary damages. Article ELEVENTH also provides that no amendment,
alteration or repeal of the contents contained in the preceding sentence or the
adoption, alteration or amendment of any other provision of the Articles or
By-Laws inconsistent with Article ELEVENTH shall adversely affect any limitation
of liability of any director or officer of the Registrant with respect to any
act or failure to act which occurred prior to such amendment, alteration, repeal
or adoption.
Section 11.2 of Article ELEVENTH of the Registrant's Articles of
Incorporation provides that the Registrant shall indemnify its present and past
directors, officers, employees and agents, and persons who are serving or have
served at the Registrant's request in similar capacities for other entities to
the maximum extent permitted by applicable law (including Maryland law and the
1940 Act). Section 2-418 (b) of the Maryland Corporations and Associations Code
("Maryland Code") permits the Registrant to indemnify its directors unless it is
established that the act or omission of the director was material to the matter
giving rise to the proceeding, and (a) the act or omission was committed in bad
faith or was the result of active and deliberate dishonesty; (b) the director
actually received an improper personal benefit in money, property or services;
or (c) in the case of a criminal proceeding, the director had reasonable cause
to believe the act or omission was unlawful. Indemnification may be made against
judgments, penalties, fines, settlements and reasonable expenses incurred in
connection with a proceeding, in accordance with the Maryland Code. Pursuant to
Section 2-418(j)(2) of the Maryland Code, the Registrant is permitted to
indemnify its officers, employees and agents to the same extent. The provisions
set forth above apply insofar as consistent with Section 17(h) of the 1940 Act,
which prohibits indemnification of any director or officer of the Registrant
against any liability of the Registrant or its shareholders to which such
director or officer otherwise would be subject by reason of willful misfeasance,
bad faith, gross negligence or reckless disregard of the duties involved in the
conduct of his office.
Section 10.1 of Article X of the By-Laws sets forth the procedures by
which the Registrant will indemnify its directors, officers, employees and
agents. Section 10.2 of Article X of the By-Laws provides that the Registrant
may purchase and maintain insurance on behalf of the above-mentioned persons to
the extent permitted by law.
Registrant undertakes to carry out all indemnification provisions of
its Articles of Incorporation and By-Laws in accordance with Investment Company
Act Release No. 11330 (September 4, 1980) and successor releases.
Under the Distribution Agreement, the Fund agrees to indemnify, defend,
and hold the Distributor, its several officers and directors, and any person who
controls the Distributor within the meaning of Section 15 of the Securities Act
of 1933 "1933 Act", free and harmless from and against any and all claims,
<PAGE>
demands, liabilities and expenses (including the cost of investigating or
defending such claims, demands or liabilities and any counsel fees incurred in
connection therewith) which the Distributor, its officers or directors, or any
such controlling person may incur, under the 1933 Act or under common law or
otherwise, arising out of or based upon any alleged untrue statement of a
material fact contained in the Registration Statement or arising out of or based
upon any alleged omission to state a material fact required to be stated or
necessary to make the Registration Statement not misleading, provided that in no
event shall anything contained in the Distribution Agreement be construed so as
to protect the Distributor against any liability to the Corporation or its
shareholders to which the Distributor would otherwise be subject by reason of
willful misfeasance, bad faith, or gross negligence in the performance of its
duties, or by reason of its reckless disregard of its obligations and duties
under the Agreement.
Item 26. Business and Other Connections of Investment Adviser
I. Legg Mason Fund Adviser, Inc. ("Manager"), investment manager to the
Registrant, is a registered investment adviser incorporated on January 20, 1982.
The Manager is engaged primarily in the investment advisory business. The
Manager also serves as manager and/or investment adviser to seventeen open-end
investment company portfolios. Information as to the officers and directors of
the Manager is included in its Form ADV filed June 24, 1998 with the Securities
and Exchange Commission (registration number 801-16958) and is incorporated
herein by reference.
II. Western Asset Management Company ("Western"), adviser to the
Registrant's Legg Mason Global Government Trust series, is a registered
investment adviser incorporated on October 5, 1971. Western is primarily engaged
in the investment advisory business. Western also serves as investment adviser
for sixteen open-end investment company portfolios and one closed-end investment
company. Information as to the officers and directors of Western is included in
its Form ADV filed on June 30, 1998 with the Securities and Exchange Commission
(registration number 801-08162) and is incorporated herein by reference.
III. Batterymarch Financial Management, Inc. ("Batterymarch"),
investment adviser to the Registrant's Legg Mason International Equity Trust and
Legg Mason Emerging Markets Trust series, is a registered investment adviser
incorporated on September 19, 1994. Batterymarch is engaged primarily in the
investment advisory business. Information as to the officers and directors of
Batterymarch is included in its Form ADV filed June 26, 1998 with the Securities
and Exchange Commission (registration number 801-48035) and is incorporated
herein by reference.
IV. Western Asset Global Management Limited ("Western Asset Global"),
investment sub-adviser to the Registrant's Legg Mason Global Government Trust
series, is a corporation organized under the laws of the United Kingdom, is
registered with the Securities and Exchange commission as an investment adviser
and is regulated by the Investment Management Regulatory Organization under the
UK Financial Services Act of 1986. Western Asset Global has provided management
of global and international fixed income portfolios since its inception;
however, it does not manage assets for any other investment company. Information
as to the officers and directors of Western Asset Global is included in its Form
ADV filed June 24, 1998 with the Securities and Exchange Commission
(registration number 801-21068) and is incorporated herein by reference.
Item 27. Principal Underwriters
(a) Legg Mason Cash Reserve Trust
Legg Mason Special Investment Trust, Inc.
Legg Mason Value Trust, Inc.
Legg Mason Tax-Exempt Trust, Inc.
Legg Mason Income Trust, Inc.
Legg Mason Total Return Trust, Inc.
Legg Mason Tax-Free Income Fund
Legg Mason Investors Trust, Inc.
Legg Mason Focus Trust, Inc.
<PAGE>
Legg Mason Light Street Trust, Inc.
LM Institutional Fund Advisors I, Inc.
LM Institutional Fund Advisors II, Inc.
(b) The following table sets forth information concerning each
director and officer of the Registrant's principal
underwriter, Legg Mason Wood Walker, Incorporated ("LMWW").
<TABLE>
<CAPTION>
Position and Positions and
Name and Principal Offices with Offices with
Business Address* Underwriter - LMWW Registrant
- ----------------- ------------------ ----------
<S> <C> <C>
Raymond A. Mason Chairman of the None
Board
John F. Curley, Jr. Retired Vice Chairman Chairman of the Board
of the Board and Director
James W. Brinkley President and None
Director
Edmund J. Cashman, Jr. Senior Executive None
Vice President and
Director
Richard J. Himelfarb Senior Executive Vice None
President and
Director
Edward A. Taber III Senior Executive Vice President and Director
President and
Director
Robert A. Frank Executive Vice None
President and
Director
Robert G. Sabelhaus Executive Vice None
President and
Director
Charles A. Bacigalupo Senior Vice None
President,
Secretary and
Director
F. Barry Bilson Senior Vice None
President and
Director
Thomas M. Daly, Jr. Senior Vice None
President and
Director
Jerome M. Dattel Senior Vice None
President and
Director
<PAGE>
Robert G. Donovan Senior Vice None
President and
Director
Thomas E. Hill Senior Vice None
One Mill Place President and
Easton, MD 21601 Director
Arnold S. Hoffman Senior Vice None
1735 Market Street President and
Philadelphia, PA 19103 Director
Carl Hohnbaum Senior Vice None
24th Floor President and
Two Oliver Plaza Director
Pittsburgh, PA 15222
William B. Jones, Jr. Senior Vice None
1747 Pennsylvania President and
Avenue, N.W. Director
Washington, D.C. 20006
Laura L. Lange Senior Vice None
President and
Director
Marvin H. McIntyre Senior Vice None
1747 Pennsylvania President and
Avenue, N.W. Director
Washington, D.C. 20006
Mark I. Preston Senior Vice None
President and
Director
Joseph Sullivan Senior Vice None
President and
Director
M. Walter D'Alessio, Jr. Director None
1735 Market Street
Philadelphia, PA 19103
W. William Brab Senior Vice None
President
Deepak Chowdhury Senior Vice None
255 Alhambra Circle President
Coral Gables, FL 33134
Harry M. Ford, Jr. Senior Vice None
President
Dennis A. Green Senior Vice None
President
<PAGE>
William F. Haneman, Jr. Senior Vice None
One Battery Park Plaza President
New York, New York 10005
Theodore S. Kaplan Senior Vice None
President and
General Counsel
Seth J. Lehr Senior Vice None
1735 Market St President
Philadelphia, PA 19103
Horace M. Lowman, Jr. Senior Vice None
President and
Asst. Secretary
Robert L. Meltzer Senior Vice None
One Battery Park Plaza President
New York, NY 10004
Jonathan M. Pearl Senior Vice None
1777 Reisterstown Rd. President
Pikesville, MD 21208
John A. Pliakas Senior Vice None
125 High Street President
Boston, MA 02110
Gail Reichard Senior Vice None
President
Timothy C. Scheve Senior Vice None
President and
Treasurer
Elisabeth N. Spector Senior Vice None
President
Robert J. Walker, Jr. Senior Vice None
200 Gibraltar Road President
Horsham, PA 19044
William H. Bass, Jr. Vice President None
Nathan S. Betnun Vice President None
John C. Boblitz Vice President None
Andrew J. Bowden Vice President None
D. Stuart Bowers Vice President None
Edwin J. Bradley, Jr. Vice President None
Scott R. Cousino Vice President None
Joseph H. Davis, Jr. Vice President None
1735 Market Street
Philadelphia, PA 19380
<PAGE>
Terrence R. Duvernay Vice President None
1100 Poydras St.
New Orleans, LA 70163
John R. Gilner Vice President None
Richard A. Jacobs Vice President None
C. Gregory Kallmyer Vice President None
Edward W. Lister, Jr. Vice President None
Marie K. Karpinski Vice President Vice President
and Treasurer
Mark C. Micklem Vice President None
1747 Pennsylvania Ave.
Washington, DC 20006
Hance V. Myers, III Vice President None
1100 Poydras St.
New Orleans, LA 70163
Gerard F. Petrik, Jr. Vice President None
Douglas F. Pollard Vice President None
K. Mitchell Posner Vice President None
1735 Market Street
Philadelphia, PA 19103
Carl W. Riedy, Jr. Vice President None
Jeffrey M. Rogatz Vice President None
Thomas E. Robinson Vice President None
Douglas M. Schmidt Vice President None
Robert W. Schnakenberg Vice President None
1111 Bagby St.
Houston, TX 77002
Henry V. Sciortino Vice President None
1735 Market St.
Philadelphia, PA 19103
Chris Scitti Vice President None
Eugene B. Shephard Vice President None
1111 Bagby St.
Houston, TX 77002-2510
Lawrence D. Shubnell Vice President None
Alexsander M. Stewart Vice President None
One World Trade Center
New York, NY 10048
Robert S. Trio Vice President None
1747 Pennsylvania Ave.
<PAGE>
Washington, DC 20006
William A. Verch Vice President None
Lewis T. Yeager Vice President None
Joseph F. Zunic Vice President None
</TABLE>
* All addresses are 100 Light Street, Baltimore, Maryland 21202,
unless otherwise indicated.
(c) The Registrant has no principal underwriter which is not an
affiliated person of the Registrant or an affiliated person of
such an affiliated person.
Item 28. Location of Accounts and Records
State Street Bank and Trust Company
P.O. Box 1713
Boston, Massachusetts 02105
Item 29. Management Services
None
Item 30. Undertakings
None
<PAGE>
SIGNATURE PAGE
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant, Legg Mason Global Trust, Inc.,
has duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereto duly authorized, in the City of Baltimore and State of
Maryland, on the 30th day of April, 1999.
LEGG MASON GLOBAL TRUST, INC.
By: /s/ Marie K. Karpinski
----------------------------------
Marie K. Karpinski
Vice President and Treasurer
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in the
capacities and on the dates indicated:
Signature Title Date
- --------- ----- ----
/s/ John F. Curley, Jr. Chairman of the Board April 30, 1999
- -------------------------------- and Director
John F. Curley, Jr.
/s/ Edward A. Taber, III President and Director April 30, 1999
- --------------------------------
Edward A. Taber, III
/s/ Richard G. Gilmore Director April 30, 1999
- --------------------------------
Richard G. Gilmore*
/s/ Arnold L. Lehman Director April 30, 1999
- --------------------------------
Arnold L. Lehman*
/s/ Jill E. McGovern Director April 30, 1999
- --------------------------------
Jill E. McGovern*
<PAGE>
/s/ T. A. Rodgers Director April 30, 1999
- --------------------------------
T. A. Rodgers*
/s/ Marie K. Karpinski Vice President April 30, 1999
- -------------------------------- and Treasurer
Marie K. Karpinski
*Signatures affixed by Marie K. Karpinski pursuant to powers of attorney dated
May 8, 1998, a copy of which is filed herewith.
<PAGE>
POWER OF ATTORNEY
I, the undersigned Director/Trustee of the following investment companies:
LEGG MASON CASH RESERVE TRUST LEGG MASON VALUE TRUST, INC.
LEGG MASON INCOME TRUST, INC. LEGG MASON TOTAL RETURN TRUST, INC.
LEGG MASON GLOBAL TRUST, INC. LEGG MASON SPECIAL INVESTMENT TRUST, INC.
LEGG MASON TAX EXEMPT TRUST, INC. LEGG MASON INVESTORS TRUST, INC.
LEGG MASON TAX-FREE INCOME FUND
plus any other investment company for which Legg Mason Fund Adviser, Inc. acts
as investment adviser or manager and for which the undersigned individual serves
as Director/Trustee hereby severally constitute and appoint each of MARIE K.
KARPINSKI, KATHI D. BAIR, ARTHUR J. BROWN and ARTHUR C. DELIBERT my true and
lawful attorney-in-fact, with full power of substitution, and with full power to
sign for me and in my name in the appropriate capacity, any Registration
Statements on Form N-1A, all Pre-Effective Amendments to any Registration
Statements of the Funds, any and all subsequent Post-Effective Amendments to
said Registration Statements, any supplements or other instruments in connection
therewith, to file the same with the Securities and Exchange Commission and the
securities regulators of appropriate states and territories, and generally to do
all such things in my name and behalf in connection therewith as said
attorney-in-fact deems necessary or appropriate, to comply with the provisions
of the Securities Act of 1933 and the Investment Company Act of 1940, all
related requirements of the Securities and Exchange Commission and all
requirements of appropriate states and territories. I hereby ratify and confirm
all that said attorney-in-fact or their substitutes may do or cause to be done
by virtue hereof.
WITNESS my hand on the date set forth below.
SIGNATURE DATE
- --------- ----
/s/ Richard G. Gilmore May 8, 1998
- ----------------------------------------
Richard G. Gilmore
/s/ T. A. Rodgers May 8, 1998
- ----------------------------------------
T. A. Rodgers
/s/ Charles F. Haugh May 8, 1998
- ----------------------------------------
Charles F. Haugh
/s/ Arnold L. Lehman May 8, 1998
- ----------------------------------------
Arnold L. Lehman
/s/ Jill E. McGovern May 8, 1998
- ---------------------------------------
Jill E. McGovern
/s/ Edward A. Taber, III May 8, 1998
- ----------------------------------------
Edward A. Taber, III
/s/ Edmund J. Cashman, Jr. May 8, 1998
- ----------------------------------------
Edmund J. Cashman, Jr.
/s/ John F. Curley, Jr. May 8, 1998
- ----------------------------------------
John F. Curley, Jr.
/s/ Raymond A. Mason May 8, 1998
- ----------------------------------------
Raymond A. Mason
Kirkpatrick & Lockhart LLP
1800 Massachusetts Avenue, NW
2nd Floor
Washington, DC 20036
Exhibit 23(I)(b)
April 30, 1999
Legg Mason Global Trust, Inc.
100 Light Street
Baltimore, MD 21202
Dear Sir or Madam:
We hereby consent to the incorporation by reference of our opinions
dated February 15, 1996, March 31, 1993, and November 28, 1994, regarding
certain matters in connection with the issuance of shares by Legg Mason Emerging
Markets Trust, Legg Mason Global Government Trust, and Legg Mason International
Equity Trust, respectively, each a separate series of shares of Legg Mason
Global Trust, Inc. ("Company"), in Post-Effective Amendment No. 15 to the
Company's Registration Statement, to be filed with the Securities and Exchange
Commission on April 30, 1999. We also consent to the reference to our firm under
the caption "The Corporation's Legal Counsel" in the Statement of Additional
Information.
Sincerely,
KIRKPATRICK & LOCKHART LLP
By: /s/ Arthur C. Delibert
--------------------------
Arthur C. Delibert
