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IMPORTANT PERFORMANCE INFORMATION: The performance data quoted represents past performance, which is no guarantee of future results, and current performance may be higher or lower than the performance shown.  Average annual total returns and calendar year returns assuming reinvestment of all distributions at net asset value and the deduction of all fund expenses. Performance would have been lower if fees had not been reimbursed or waived in various periods. Performance for other share classes will vary due to differences in sales charge structure and class expenses. All classes of shares are not available through all distribution channels.

The Current SEC 7-day yield represents net interest income generated by the investments for the past 7 days and assumes that the same income is generated each week over a 365-day period. The 7-day yield more closely reflects current fund earnings than does total returns. Yields for other share classes may vary due to differences in sales charge structure and class expenses. The Fund's yields reflect expense reimbursements or fee waivers, if any, absent these expense reimbursements and/or fee waivers, performance would have been lower.

Please see each fund's individual page for more information regarding fees and expenses.

Daily Change indicates change in the net asset value from the previous business day.

You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

IMPORTANT INFORMATION: All investments involve risk, including loss of principal. Past performance is no guarantee of future results. Please see each product’s web page for specific details regarding investment objective, risks, performance and other important information. Review this information carefully before you make any investment decision.

Carefully consider a fund’s investment objectives, risks, charges and expenses before investing. Please view the prospectus or summary prospectus for this and other information. Read it carefully.

FINANCIAL ADVISORS: Please note that not all share classes may be available for sale at your firm. Please call the Legg Mason Sales Desk 1-800-822-5544 or your Legg Mason Sales contact for more information.

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