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Legg Mason Emerging Markets Trust


Portfolio Information as of 9/30/08

Top Ten Holdings
  Fund
Petroleo Brasileiro SA 4.7%
Companhia Vale Do Rio Doce 3.5%
Gazprom 3.2%
Samsung Electronic 2.4%
China Mobile Ltd 2.2%
Sasol 1.8%
Industrial & Com B 1.7%
America Movil SAB De CV 1.6%
Mobile Telesystems 1.2%
UNIBANCO UNIAO DE BANCOS BRAS 1.2%

Top Ten Countries
  Fund
Brazil 18%
Korea, Republic Of 13%
Russian Federation 10%
South Africa 9%
Taiwan 9%
China 8%
Mexico 6%
India 5%
Hong Kong 4%
Turkey 4%

Holdings and Sectors are subject to change; please review the fund's Shareholder Report.

View the complete holdings
FIXED INCOME
> Western Asset Absolute Return Portfolio
> Western Asset Core Bond Portfolio
> Western Asset Core Plus Bond Portfolio
> Western Asset Emerging Markets Debt
> Western Asset Global High Yield
> Western Asset High Yield Portfolio
> Western Asset Inflation Indexed Plus Bond Portfolio
> Western Asset Intermediate Bond Portfolio
> Western Asset Intermediate Plus Bond Portfolio
> Western Asset Limited Duration Bond Portfolio
> Western Asset Non-U.S. Opportunity Bond Portfolio
EQUITY
> Batterymarch U.S. Small Cap Equity Portfolio
> Legg Mason American Leading Companies Trust
> Legg Mason Emerging Markets Trust
> Legg Mason Growth Trust
> Legg Mason International Equity Trust
> Legg Mason Opportunity Trust
> Legg Mason Special Investment Trust
> Legg Mason Value Trust
> Legg Mason Partners Funds
> The Royce Funds



Investors should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information about the Fund. To obtain a free prospectus, click here or call 1-888-425-6432. Please read the prospectus carefully before investing.

All investments involve risk, including possible loss of principal.

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