Closed End Funds Conference Calls & Commentaries

Conference Calls

Legg Mason's family of closed-end funds quarterly conference call, dated March 5, 2010

This quarterly conference call will provide market and strategy insight from our portfolio managers and/or research analysts for our family of closed-end funds.

Listen now (34:30)

Focused Segments of the Conference Call

Market Overview: Stephen Walsh – Chief Investment Officer (7:45)
Municipals: Robert Amodeo – Portfolio Manager (4:00)
Structured Products: Ron Mass – Head of Structured Products (3:00)
Corporate Bonds: Michael Buchanan – Head of Credit (9:10)
Emerging Markets Debt: Matthew Duda – Portfolio Manager (3:30)
TIPS: Peter Stutz – Portfolio Manager (4:15)

Michael Buchanan
Western Asset Global Corporate Defined Opportunity Fund Inc.

January 27, 2010

Listen now (20 minutes)
Call Notes

Peter Vanderlee
Michael Clarfeld
LMP Capital and Income Fund Inc.

November 20, 2009

Listen now (7.5 minutes)
Call Notes

Michael Buchanan
Western Asset Investment Grade Defined Opportunity Trust Inc.

August 18, 2009

Listen now (20 minutes)
Call Notes

Like other public companies, closed-end funds have a one-time initial public offering. Thus, once their shares are first issued, shares are not continually offered by the closed-end fund, but trade in the open market through a stock exchange. Also, like other common stocks, share prices of closed-end funds will fluctuate with market conditions and, at the time of sale, may be worth more or less than your original investment. Shares of closed-end exchange-traded funds may trade at a discount or premium to their original offering price, and often trade at a discount to their net asset value (a price that reflects the value of the fund's underlying portfolio plus other assets, less the fund's liabilities divided by the number of shares outstanding). Investment return, price and net asset value will fluctuate with changes in market conditions.

INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Legg Mason Investor Services, LLC, and Western Asset Management Company are subsidiaries of Legg Mason, Inc.