We compute magnetic moments of baryons with a heavy quark in the bound state approach for heavy baryons. In this approach the heavy baryon is considered as a heavy meson bound to a light baryon. The latter is represented as a soliton excitation of light meson fields. We obtain the magnetic moments by sandwiching pertinent components of the electromagnetic current operator between the bound state wave-functions. We extract this current operator from the coupling to the photon field after extending the action to be gauge invariant.
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