Legg Mason Southeast Asia Special Situations Trust

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About The Fund

Investment Aim

To achieve medium to long-term capital appreciation by investing at least 70% of the Fund in securities issued by companies that are incorporated, domiciled or listed, or have a significant economic interest, in South and South-East Asia countries.

Performance Benchmark

MSCI AC Far East ex Japan, ex China. Ex Hong Kong, ex Taiwan, ex Korea (S$)

CPF Investment Scheme

Included under the CPF Investment Scheme (Ordinary Account)
CPF Investment Scheme - List A Fund

	Unit NAV
NAV:	SGD 0.748
High*:	SGD 2.406
Low*:	SGD 0.340
*Based on since inception month end prices.

Fund Size:	SGD 176 million

About the Investment Strategy

Primary focus on "Special Situations" companies, which can include corporate restructuring or re-engineering, management change, new product introduction or innovation, new business injections and changes in the regulatory and business environment.
The Manager's strategy when investing in large-cap stocks is to use a systematic, thematic approach in information gathering and analysis to capture periodic market mis-pricing in the large-cap stocks areas where there are sufficient market signals and data points available. The managers intend to devote more of their internal research resources to seek out and analyze mid-cap and small cap stocks where opportunities for significant securities mis-pricing are more abundant.

About the Investment Team

With offices in London, Singapore, Hong Kong, Tokyo, New York, So Paulo, Warsaw and Melbourne, Legg Mason International Equities has investment teams with extensive track records located in markets around the world. The team focuses is on managing Asian Equities.

General Fund Literarture

Fact Sheet
Fact Sheet (Chinese)
Prospectus
Annual Report
Interim Report

This document, prepared by Legg Mason International Equities (Singapore) Pte. Limited ("Legg Mason"), is for information only and does not constitute an offer nor solicitation to buy or sell any units of the Fund. The prospectus of the Fund is available and may be obtained from Legg Mason or its authorised distributors. Investors should read the prospectus prior to any subscription. All applications for units in the Fund must be made on the application forms accompanying the prospectus. An investment in the Fund is subject to investment risks, including the possible loss of the principal amount invested. The value of units and the income accruing to the units, if any, may fall or rise and past performance is not necessarily a guide for future performance.

The CPF interest rate for the Ordinary Account is based on the 12-month fixed deposit and month-end savings rate of the major local banks. With effect from 1 January 2008, an additional 1% per annum will be paid on the first S$60,000 of a CPF member's combined balances, including up to S$20,000 in the Ordinary Account. In addition, the interest rate for the CPF Special Account will be pegged to the yield of 10-year Singapore government bond plus 1%. Nevertheless, the CPF Board will pay a legislated minimum annual interest rate of 2.5% on the CPF Ordinary Account and for 2008 and 2009, a minimum annual interest rate of 4.0% on the CPF Special Account.

All opinions and estimates in this document constitute Legg Mason's judgement as of this date and are subject to change without notice. Legg Mason, its affiliates, officers or directors, may have an interest in the acquisition or disposal of the securities mentioned herein.

Distribution of this document may be restricted in certain jurisdictions; persons into whose possession this publication comes should inform themselves of and observe such restrictions. This document does not constitute the distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute this document. This Fund is not available to US citizens, residents or greencard holders and may not be available in all jurisdictions.