Emerald Financial Group yesterday announced the second in a series of free monthly seminars entitled "Investment Opportunities in an Era of Uncertainty". It will feature the investment strategy of Private Capital Management (PCM), a wholly owned subsidiary of Legg Mason, who have been named the new managers of the Legg Mason US Smaller Companies Fund.

Private Capital Management this year had the distinction of receiving The Nelson Best Money Manager's Award, as the best performing US Value manager of the last 10 years for the period ending March 31, 2002 for their 10 year average annual return of 26.10 percent.

Gary Queen, vice president of PCM, and Peter Heggerman, vice president of Legg Mason Offshore Funds' Caribbean region, will today give their overview of the market, and discuss why PCM's low risk approach/high return strategy has worked well in both bull and bear markets

The two will also explain how PCM identifies "undiscovered" companies which Wall Street analysts ignore yet consistently provide investors with above average returns; their viewpoint on the sectors which are poised to enjoy superior growth; and how you can access PCM's investment expertise through the Legg Mason US Smaller Companies Value Fund.

PCM manages over $10 billion dollars and was originally formed in 1986 as a family office to exclusively manage the money of the Collier family, one of the wealthiest Forbes 400 families. As a result of their success, their reputation grew among wealthy investors and the firm later selectively expanded their client base to provide their investment management services to qualifying investors who were able to meet their $2.5million minimum investment level. Their focus on the preservation of their investors' money has led to them having the distinction of having posted positive annual returns in 15 of the last 16 years. Evidence of PCM's success in investing in companies that they believe to be selling at significant discounts to their private market value is the fact that 43 companies in PCM portfolio's since 1998 have been either merged or acquired by other companies.

In August 2001, Legg Mason one of the US largest diversified financial service companies acquired PCM. As investment advisor to Legg Mason's US Smaller Companies Value Fund, PCM's expertise is now available to investors for a low entry level of $5,000.

Investing in the Legg Mason US Smaller Companies Value Fund also includes access to PCM's president and chief financial officer Bruce Sherman who is widely regarded as one of the most astute portfolio managers of this generation. He uses a unique low risk/high return investment strategy that has consistently outperformed the S&P500 by more than 50 percent per year since 1987.

David Bolden, president of Emerald Financial Group, said: "The challenging market conditions we are now passing through makes first hand access to internationally respected money managers extremely important in order to help investors make informed decisions. Both Private Capital Management and Legg Mason's experience is second to none. We invite investors to come and hear more about Legg Mason's US Smaller Companies Value Fund and PCM's investment advice, which was previously not available to the average investor."

The seminar will take place today at the Fairmont Hamilton Princess from 5.30 pm to 6.45pm.

For more information about the seminar or to reserve a place, contact Patricia Moore: 292 3235 or e-mail seminaremerald.bm .