  By using techniques of unitarized chiral perturbation theory, where the
$\Lambda(1405)$ and $\Lambda(1670)$ resonances are dynamically generated, we
evaluate the magnetic moments of these resonances and their transition magnetic
moment. The results obtained here differ appreciably from those obtained with
existing quark models. The width for the $\Lambda(1670) \to \Lambda(1405)
\gamma$ transition is also evaluated leading to a branching ratio of the order
of $2 \times 10^{-6}$.
