Legg Mason Affiliated Closed-End Funds Conference Call

Closed-end funds that are affiliated with Legg Mason and are advised or sub-advised by Western Asset Management and ClearBridge Advisors have issued manager commentary. The commentary provides the respective manager’s views on the current market and their outlook for 2009.

Portfolio managers from Western Asset Management and ClearBridge Advisors, two of Legg Mason’s affiliates, participated in the quarterly update. The call featured the following speakers:

ClearBridge Advisors

• Robert Gendelman – Senior Portfolio Manager - LMP Capital and Income Fund (SCD)

Western Asset Management

• Stephen Walsh – Chief Investment Officer, Market Overview
• Michael Buchanan – Portfolio Manager, High-Yield and Investment Grade Corporate Bonds
• Keith Gardner – Portfolio Manager, Emerging Markets Debt
• Jeffrey Katz – Research Analyst, Mortgage-Backed Securities
• Joseph Deane – Portfolio Manager, Tax-Exempt Securities
• Peter Stutz – Portfolio Manager – Inflation-Linked Securities (TIPS)

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

Investment advisory and sub-advisory services are provided by subsidiaries of Legg Mason, Inc., including: Western Asset Management Company; Legg Mason Partners Fund Advisor, LLC; and Western Asset Management Company Limited.

Legg Mason is the 6^th largest closed-end fund manager in the U.S., with $5.9 billion in assets under management as of December 31, 2008.

For more information:

• Please call 1-888-777-0102 or consult the Funds' web site at http://www.leggmason.com/cef

SYMBOLS:

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

NYSE Alternext US: SBI