Certain Western Asset Sub-Advised Closed-End Funds Announce Portfolio Manager Change

Western Asset Emerging Markets Debt Fund Inc. (NYSE: ESD),

Western Asset Emerging Markets Income Fund Inc. (NYSE: EMD),

Western Asset High Income Fund Inc. (NYSE: HIF),

Western Asset High Income Fund II Inc. (NYSE: HIX),

Western Asset High Income Opportunity Fund Inc. (NYSE: HIO),

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE: HYI),

Western Asset Inflation Management Fund Inc. (NYSE: IMF),

Western Asset Intermediate Muni Fund Inc. (NYSE Amex: SBI),

Western Asset Managed High Income Fund Inc. (NYSE: MHY),

Western Asset Managed Municipals Fund Inc. (NYSE: MMU),

Western Asset Mortgage Defined Opportunity Fund Inc. (NYSE: DMO),

Western Asset Municipal High Income Fund Inc. (NYSE: MHF),

Western Asset Municipal Partners Fund Inc. (NYSE: MNP),

Western Asset Variable Rate Strategic Fund Inc. (NYSE: GFY),

Western Asset Worldwide Income Fund Inc. (NYSE: SBW), and

LMP Capital and Income Fund Inc. (NYSE: SCD), which are subadvised by Western Asset Management Company, today issued the following statement:

In his role as CIO Emeritus, S. Kenneth Leech plays an active, hands-on role in determining Western Asset’s investment philosophy and strategy, working closely with CIO Stephen A. Walsh and serving on various investment strategy committees.

As part of a planned and strategic evolution, Mr. Leech has gradually focused more of his time on the global investment marketplace and on managing global portfolios, while continuing to play a lead role in shaping Western Asset’s overall investment strategies and macro themes.

In light of his changing role and expected further concentration on global accounts, as of May 1, Mr. Leech will no longer serve as a portfolio manager for non-global portfolios, including non-global closed-end funds. While Mr. Leech continues to help shape Western Asset’s overall investment strategy, his day-to-day role is becoming more concentrated on global portfolios. To reflect this global focus, he will continue to serve as a portfolio manager of the global funds Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE: GDO); Western Asset Global High Income Fund Inc. (NYSE: EHI); and Western Asset Global Partners Income Fund Inc. (NYSE: GDF), but not of the non-global funds.

As CIO, Mr. Walsh will remain listed as part of the portfolio management team on all funds.

The Funds are managed by Legg Mason Partners Fund Advisor, LLC, and subadvised by Western Asset Management Company. LMP Capital and Income Fund Inc. is also subadvised by ClearBridge Advisors, LLC. All are wholly owned subsidiaries of Legg Mason, Inc.

Contact the Funds at 1-888-777-0102 for more information, or consult the Funds’ web site at www.leggmason.com/cef.

Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Fund.

LMP Capital and Income (NYSE:SCD)
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