ClearBridge Names Scott Glasser Co-Chief Investment Officer

ClearBridge Advisors LLC today announced the appointment of Scott Glasser as Co-CIO for the investment manager.  He joins current Chief Investment Officer, Hersh Cohen in oversight of the firm's investment strategies.  Mr. Glasser and Mr. Cohen were co-managers of the firm's Appreciation strategy from 1995 to 2009.  Scott has been an important mentor for our investment staff, and has been instrumental in strengthening the firm's investment discipline.  He is a critical part of our leadership team and will be a driving force in our future success," stated Terrence J. Murphy, President of ClearBridge Advisors. Scott joined a ClearBridge predecessor in 1993 and has served as portfolio manager since 1994.  He has also served as Director of Research and currently sits on the firm's Management and Risk Committees.  Scott will remain Co-Portfolio Manager on the ClearBridge Appreciation strategy while Margaret Vitrano will take over co-management of the ClearBridge Large Cap Growth strategy which she will manage with current Co-Portfolio Manager, Peter Bourbeau.   Peter has been co-managing the ClearBridge Large Cap Growth strategy since 2003. Hersh Cohen, Chief Investment Officer and Senior Portfolio Manager commented, "Scott and I co-managed the Appreciation fund for close to 15 years.  He is a valued partner who understands the importance of solid fundamental research.  His leadership has earned the respect of his colleagues and I look forward to working with him as co-CIO's."   As part of a larger effort by Legg Mason to highlight the brand identities of its affiliated investment managers in its product names, U.S. mutual funds managed by ClearBridge will drop the Legg Mason name and be branded ClearBridge only.  For example, the Legg Mason ClearBridge Appreciation fund will now be the ClearBridge Appreciation fund.  The roll out is expected to be completed over the next several months.   To coincide with the product renaming and to further streamline the fund family ClearBridge will be changing its name to ClearBridge Investments by January 2013 to better reflect the firm's business.