Legg Mason Affiliated Closed-End Funds Conference Call

Closed-end funds that are affiliated with Legg Mason, Inc. ("Legg Mason”) and are advised or sub-advised by Western Asset Management have issued manager commentary. The commentary provides the respective portfolio manager’s views on the current market and their outlook for the remainder of 2011.

Portfolio managers from Western Asset Management Company, a Legg Mason affiliate, participated in the live quarterly update on May 18, 2011. The call featured the following speakers:

• Mark Lindbloom – Portfolio Manager, Market Overview
• Robert Amodeo – Portfolio Manager, Municipals
• Matt Duda – Portfolio Manager & Research Analyst, Emerging Markets Debt
• Michael Buchanan – Head of Credit, Credit Markets
• Peter Stutz – Portfolio Manager & Research Analyst, Treasury Inflation-Protected Securities (TIPS)
• Ronald Mass – Head of Structured Products, Mortgage-Backed Securities

Investors can access a replay of this call by phone or by visiting our website:

Investment advisory and sub-advisory services are provided by subsidiaries of Legg Mason, including: Western Asset Management Company and Western Asset Management Company Limited.

Legg Mason affiliates comprise the 6th largest closed-end fund managers in the U.S., with $12.2 billion in assets under management as of March 31, 2011.

All data and commentary provided is for informational purposes only. Legg Mason, Inc. and all of its affiliates do not engage in the sale of shares of the funds.