Legg Mason lost $325.1 million in the fiscal fourth quarter ended March 31, or $2.29 per diluted share, compared to a loss of $255.5 million, or $181per diluted share, in the fourth quarter of fiscal 2008.

Legg Mason said the quarter was greatly impacted by the elimination of all remaining structured investment vehicle securities from its money market funds, resulting in losses of $367.4 million, after income taxes and operating expense reductions. The firm also took a charge of $38.2 million for real estate lease losses. Legg Mason originally had an exposure to SIVs totaling more than $10 billion.

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