Western Asset Emerging Markets Income Fund Inc., which is listed on the
New York Stock Exchange under the symbol “EMD”,
announced today that, at its Special Meeting of Stockholders held
earlier today, stockholders voted to approve the merger of Western Asset
Emerging Markets Income Fund Inc. with and into Western Asset Emerging
Markets Income Fund II Inc. (NYSE: EDF).
The merger is expected to be effective prior to the opening of business
on November 3, 2008.
Upon completion of the merger, each share of common stock of Western
Asset Emerging Markets Income Fund Inc. (Cusip #95766F100) will convert
into an equivalent dollar amount (to the nearest $0.001) of full shares
of common stock of Western Asset Emerging Markets Income Fund II Inc.
(Cusip #95766E103), based on the net asset value of each Fund. Western
Asset Emerging Markets Income Fund II will not issue fractional shares
to Western Asset Emerging Markets Income Fund shareholders. In lieu of
issuing fractional shares, Western Asset Emerging Markets Income Fund II
will pay cash to each former holder of Western Asset Emerging Markets
Income Fund common stock in an amount equal to the net asset value of
the fractional shares of Western Asset Emerging Markets Income Fund II
common stock that investor would otherwise have received in the merger.
Effective with the merger and prior to the opening of business on
November 3, 2008, Western Asset Emerging Markets Income Fund II Inc.
will be renamed “Western Asset Emerging
Markets Income Fund Inc.” and trade on the New
York Stock Exchange under the symbol “EMD”
(Cusip #95766F100).
Western Asset Emerging Markets Income Fund Inc. and Western Asset
Emerging Markets Income Fund II Inc. are non-diversified closed-end
management investment companies managed by Legg Mason Partners Fund
Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc., and
sub-advised by Western Asset Management Company, which is also a
subsidiary of Legg Mason, Inc.
Contact the Fund at 1-888-777-0102 for additional information, or
consult the Fund's web site at www.leggmason.com/cef.
THIS PRESS RELEASE IS NOT AN OFFER TO PURCHASE NOR A SOLICITATION OF AN
OFFER TO SELL SHARES OF THE FUNDS. THIS PRESS RELEASE MAY CONTAIN
STATEMENTS REGARDING PLANS AND EXPECTATIONS FOR THE FUTURE THAT
CONSTITUTE FORWARD-LOOKING STATEMENTS WITHIN THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995. ALL STATEMENTS OTHER THAN STATEMENTS OF
HISTORICAL FACT ARE FORWARD-LOOKING AND CAN BE IDENTIFIED BY THE USE OF
WORDS SUCH AS “MAY,” “WILL,”
“EXPECT,” “ANTICIPATE,”
“ESTIMATE,” “BELIEVE,”
“CONTINUE” OR
OTHER SIMILAR WORDS. SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON EACH
FUND’S CURRENT PLANS AND EXPECTATIONS, AND
ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS
TO DIFFER MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING
STATEMENTS. ADDITIONAL INFORMATION CONCERNING SUCH RISKS AND
UNCERTAINTIES ARE CONTAINED IN EACH FUND’S
FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.
Legg Mason & Co., LLC
Brenda Grandell, 212-857-8087
Director,
Closed-End Funds
