PASADENA, CA -- (Business Wire)

Western Asset Income Fund (NYSE: PAI) today announced a monthly distribution rate of $0.0600 per common share for the months of June, July, August and September 2011. The Fund has decreased its distributions to a level that better approximates the current level of net investment income generated by its investment portfolio. The Fund had previously paid a monthly distribution rate of $0.0650 per common share.

The distribution schedule appears below:

This press release is not 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 2012, 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 your tax return (e.g., ordinary income, long-term capital gain or return of capital).

The Fund is a closed-end investment company that invests predominantly in a diversified portfolio of debt securities. Its investment adviser is Western Asset Management Company; a subsidiary of Legg Mason, Inc. Western Asset Management Company has managed the Fund since its inception in March 1973.

For Fund-related questions, please contact Fund Investor Services at (888) 777-0102.

For shareholder-related questions please contact American Stock Transfer and Trust Company at (888) 888-0151.

All data and commentary provided within this press release is for informational purposes only. Legg Mason, Inc. and its affiliates do not engage in selling any of the shares of the Fund.

Contacts:

Western Asset Income Fund
Fund-related questions:
Funds Investor Services, 888-777-0102
or
Shareholder-related questions:
American Stock Transfer and Trust Company, 888-888-0151

Source: Western Asset Income Fund