0000898432-04-000698 Sample Contracts

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FEE WAIVER AGREEMENT
Fee Waiver Agreement • August 31st, 2004 • Legg Mason Income Trust Inc

Legg Mason Fund Adviser, Inc. ("LMFA") hereby agrees that it will waive its compensation (and, to the extent necessary, bear other expenses) through April 30, 2005, to the extent that expenses of each class of Legg Mason Limited Duration Bond Portfolio (formerly U.S. Government Intermediate-Term Portfolio) of Legg Mason Income Trust, Inc. (the "Fund") (exclusive of taxes, interest, brokerage and extraordinary expenses) would exceed an annual rate of 1.00% for Primary Class and 0.50% for Institutional Class.

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