Legg Mason Equity Funds
Legg Mason Value Trust, Inc.
Legg Mason Total Return Trust, Inc.
Legg Mason Special Investment Trust, Inc.
Legg Mason American Leading Companies Trust
Legg Mason Balanced Trust
Legg Mason U.S. Small-Capitalization Value Trust
SUPPLEMENT TO THE PRIMARY SHARES PROSPECTUS DATED JULY 31, 1999
The first full paragraph on page 23 of the Prospectus is replaced in its
entirety with the following:
James B. Hagerty, CFA, Dale H. Rabiner, CFA and Peter A.
Sorrentino, CFA jointly manage Balanced Trust. Mr. Hagerty and Mr.
Rabiner are senior portfolio mangers of Bartlett. Mr. Sorrentino
is Director of Equity Research. Mr. Hagerty has been employed by
Bartlett since 1994 and has responsibility for the equity
selection process for the Private Client Group at Bartlett. Mr.
Rabiner has been employed by Bartlett since 1983 and has served
since then as Managing Director of its Fixed Income Group. Mr.
Sorrentino joined Bartlett in 1999 and is responsible for
Bartlett's equity investment processes.
This supplement supersedes all prior supplements.
This Supplement is dated March 17, 2000.
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Navigator Equity Funds
Navigator Class of Legg Mason Value Trust, Inc.
Navigator Class of Legg Mason Total Return Trust, Inc.
Navigator Class of Legg Mason Special Investment Trust, Inc.
Navigator Class of Legg Mason American Leading Companies Trust
Navigator Class of Legg Mason Balanced Trust
Navigator Class of Legg Mason U.S. Small-Capitalization Value Trust
SUPPLEMENT TO THE NAVIGATOR SHARES PROSPECTUS DATED JULY 31, 1999
The second paragraph on page 17 of the Prospectus is replaced in its entirety
with the following:
James B. Hagerty, CFA, Dale H. Rabiner, CFA and Peter A.
Sorrentino, CFA jointly manage Balanced Trust. Mr. Hagerty and Mr.
Rabiner are senior portfolio mangers of Bartlett. Mr. Sorrentino
is Director of Equity Research. Mr. Hagerty has been employed by
Bartlett since 1994 and has responsibility for the equity
selection process for the Private Client Group at Bartlett. Mr.
Rabiner has been employed by Bartlett since 1983 and has served
since then as Managing Director of its Fixed Income Group. Mr.
Sorrentino joined Bartlett in 1999 and is responsible for
Bartlett's equity investment processes.
This Supplement is dated March 17, 2000.
