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Western Asset Income Fund and Western Asset Premier Bond Fund Announce Portfolio Manager Change

2011-04-15 08:00 ET - News Release

NEW YORK -- (Business Wire)

Western Asset Income Fund (NYSE: PAI) and Western Asset Premier Bond Fund (NYSE: WEA), which are advised by Western Asset Management Company, a subsidiary of Legg Mason, Inc., 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, but not of the non-global funds.

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

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.


Legg Mason & Co., LLC
Brenda Grandell, 212-857-8087
Director, Closed-End Funds
Mary Athridge, 212-805-6035
Media Relations

Source: Legg Mason, Inc.

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