KIRKPATRICK & LOCKHART LLP 1800 Massachusetts Avenue, NW
Second Floor
Washington, DC 20036-1800
202.778.9100
www.kl.com
ARTHUR C. DELIBERT
(202) 778-9042
[email protected]
January 17, 2001
Legg Mason Investors Trust, Inc.
100 Light Street
Baltimore, MD 21202
Dear Sir or Madam:
Legg Mason Investors Trust, Inc. (the "Corporation") is a corporation
organized under the laws of the State of Maryland by Articles of Incorporation
dated May 5, 1993. You have requested our opinion as to certain matters
regarding the issuance of certain Shares of the Corporation. As used in this
letter, the term "Shares" means the Institutional Class shares of common stock
of Legg Mason American Leading Companies Trust, Legg Mason Balanced Trust, Legg
Mason U.S. Small-Capitalization Value Trust, and Legg Mason Financial Services
Fund, each a Series of the Corporation, as well as Financial Intermediary Class
shares of Legg Mason Balanced Trust. This opinion is valid with respect to each
Class and Series listed in the preceding sentence only during the time that
Post-Effective Amendment No. 18 to the Corporation's Registration Statement on
Form N-1A is effective and has not been superseded by another post-effective
amendment, containing a prospectus applicable to that Class and Series, that has
become effective.
We have, as counsel, participated in various corporate and other
matters relating to the Corporation. We have examined copies of the Articles of
Incorporation and By-Laws, the minutes of meetings of the directors and other
documents relating to the organization and operation of the Corporation, either
certified or otherwise proven to our satisfaction to be genuine, and we are
generally familiar with its business affairs. Based upon the foregoing, it is
our opinion that, when sold in accordance with the Corporation's Articles of
Incorporation, By-Laws and the terms contemplated by Post-Effective Amendment
No. 18 to the Corporation's Registration Statement, the Shares will have been
legally issued, fully paid and nonassessable by the Corporation.
We hereby consent to the filing of this opinion in connection with
Post-Effective Amendment No. 18 to the Corporation's Registration Statement on
Form N-1A (File No. 33-62174) being filed with the Securities and Exchange
Commission. We also consent to the reference to our firm in the Statement of
Additional Information filed as part of the Registration Statement.
Sincerely,
/s/ Kirkpatrick & Lockhart LLP
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KIRKPATRICK & LOCKHART LLP
