ADMINISTRATIVE SERVICES AGREEMENT

                        LEGG MASON INVESTMENT TRUST, INC.



         AGREEMENT  made this 1st day of  August,  2000 by and  between  LMM LLC

("Manager"),  a Maryland limited liability company, and Legg Mason Fund Adviser,

Inc. ("Administrator"),  a Maryland corporation,  each of which is registered as

an investment adviser under the Investment Advisers Act of 1940.



         WHEREAS,   the  Manager  is  the  investment   adviser  of  Legg  Mason

Opportunity  Trust (the "Fund"),  a series of Legg Mason Investment  Trust, Inc.

(the "Corporation"), an open-end,  non-diversified management investment company

registered  under the  Investment  Company  Act of 1940,  as amended  (the "1940

Act"); and



         WHEREAS,  the Manager wishes to retain the  Administrator to provide it

with certain administrative services in connection with the Manager's management

of the Fund; and



         WHEREAS,  the  Administrator is willing to furnish such services on the

terms and conditions hereinafter set forth;



         NOW,  THEREFORE,  in consideration of the promises and mutual covenants

herein contained, it is agreed as follows:



         1.     Appointment.  The Manager hereby appoints the  Administrator  as

administrator  for the Fund for the  period  and on the  terms set forth in this

Agreement.  The Administrator accepts such appointment and agrees to furnish the

services herein set forth for the compensation herein provided.



         2.     Delivery  of   Documents.   The  Manager   has   furnished   the

Administrator  with copies properly  certified or  authenticated  of each of the

following:



                (a) The Corporation's  Articles of Incorporation,  as filed with

the State  Department of  Assessments  and Taxation of the State of Maryland and

all amendments thereto;



                (b) The Corporation's By-Laws and all amendments thereto;



                (c)  Resolutions  of  the   Corporation's   Board  of  Directors

authorizing the appointment of the Manager as the investment adviser and manager

for the Fund, and approving the Management Agreement between the Manager and the

Corporation with respect to the Fund (the "Management Agreement");



                (d) The Corporation's  Registration Statement on Form N-1A under

the  Securities  Act of 1933,  as  amended,  and the 1940 Act as filed  with the

Securities and Exchange Commission,  including all exhibits thereto, relating to

shares of common stock of the Fund, and all amendments thereto;



                (e) The Fund's most recent prospectus(es); and



                (f) The   Fund's   most   recent    statement(s)of    additional

information.



The Manager will furnish the Administrator  from time to time with copies of all

amendments of or supplements to the foregoing.

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