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 manager’s views on the current market and their outlook for the end of 2009.

Portfolio managers from Western Asset Management, a Legg Mason affiliate, participated in the live quarterly update on November 13, 2009. The call featured the following speakers:

• Stephen Walsh – Chief Investment Officer, Market Overview
• Michael Buchanan – Head of Credit, High-Yield Bonds
• Robert Amodeo – Portfolio Manager, Municipals
• Kevin Ritter – Trader, Emerging Markets Debt
• Peter Stutz – Portfolio Manager, Treasury Inflation-Protected Securities (TIPS)

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 is the 6th largest closed-end fund manager in the U.S., with $7.6 billion in assets under management as of September 30, 2009.

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. The funds’ common shares are traded on the New York Stock Exchange or the NYSE Amex.

SYMBOLS:

NYSE: EFL; EHI; EMD; ESD; GDF; GDO; GFY; HIF; HIO; HIX; IGI; IMF; MHF; MHY; MMU; MNP; MTT; PAI; SBW; SCD; WEA

NYSE Amex: SBI