EFL Eaton Vance Floating Rate 2022 Target Term Trust

Western Asset Emerging Markets Floating Rate Fund Inc., which is listed on the New York Stock Exchange under the symbol ๏ฟฝEFL๏ฟฝ, announced today distributions of $0.0850 per common share per month for the months of March, April and May 2008. The distribution schedule appears below: Month ๏ฟฝ Ex-Date ๏ฟฝ Record Date ๏ฟฝ Payable Date ๏ฟฝ Amount March ๏ฟฝ 03/18/08 ๏ฟฝ 03/20/08 ๏ฟฝ 03/28/08 ๏ฟฝ $ 0.0850 April 04/16/08 04/18/08 04/25/08 $ 0.0850 May 05/21/08 05/23/08 05/30/08 $ 0.0850 Under the Fund๏ฟฝs managed distribution policy, the Fund seeks to maintain a consistent distribution level, stated as a fixed rate per common share per month, that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund๏ฟฝs aggregate net investment income and net realized capital gains are less than the amount of the new distribution level, the difference will be distributed from the Fund's assets and will constitute a return of the shareholder๏ฟฝs capital. A return of capital is not taxable; rather it reduces a shareholder๏ฟฝs tax basis in his or her shares of the Fund. The Board of Directors may terminate or suspend the managed distribution policy at any time. Any such termination or suspension could have an adverse effect on the market price of the Fund's shares. Based on the Fund's accounting records, as of the date of this press release, the Fund estimates that approximately 91.53% of the cumulative fiscal year-to-date distributions through May 2008 are sourced from net investment income and 8.47% are sourced from long-term capital gains. The estimated components of each distribution will be provided to shareholders of record in a separate notice. Please note that this press release should not be used for tax reporting purposes and is being provided to announce the amount of the Fund's distributions that have been declared by the Board of Directors. In early 2009, after definitive information is available, the Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder๏ฟฝs tax return (e.g., ordinary income, long-term capital gain or return of capital). Western Asset Emerging Markets Floating Rate Fund Inc. is a non-diversified, closed-end management investment company. Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc., serves as the Fund๏ฟฝs investment manager and Western Asset Management Company, an affiliate of the investment manager, serve as the Fund๏ฟฝs sub-adviser. Contact the Fund at 1-888-777-0102 for additional information, or consult the Fund๏ฟฝs web site at www.leggmason.com/cef.