Notes to Financial Statements
Legg Mason Global Trust, Inc.
(Amounts in Thousands)
1. Significant Accounting Policies:
The Legg Mason Global Trust, Inc. ("Trust"), consisting of the Global Government Trust ("Global Government"),
the International Equity Trust ("International Equity"), and the Emerging Markets Trust ("Emerging Markets")
(each separately referred to as a "Fund" and collectively as the "Funds"), is registered under the Investment
Company Act of 1940, as amended, as an open-end, diversified investment company.
Each Fund's securities are valued on the basis of market quotations or, lacking such quotations, at fair value as
determined under the guidance of the Board of Directors. Securities for which market quotations are readily
available are valued at the last sale price of the day for a comparable position, or, in the absence of any such
sales, the last available bid price for a comparable position. Where a security is traded on more than one market,
which may include foreign markets, the securities are generally valued on the market considered by each Fund's
adviser to be the primary market. Each Fund will value its foreign securities in U.S. dollars on the basis of the
then-prevailing exchange rates.
Most securities held by Global Government are valued on the basis of valuations furnished by an independent
service which utilizes both dealer-supplied valuations and electronic data processing techniques which take into
account appropriate factors such as institutional-size trading in similar groups of securities, yield, quality, coupon
rate, maturity, type of issue, trading characteristics and other data. Securities with remaining maturities of 60 days
or less are valued at amortized cost.
The books and records of the Funds are maintained in U.S. dollars. Foreign currency amounts are translated into
U.S. dollars on the following basis:
(i) market value of investment securities, assets and liabilities at the closing daily rate