Western Asset Emerging Markets Income Fund Inc., which is listed on the
New York Stock Exchange under the symbol “EMD,”
today announced distributions of $0.2254 per common share from net
investment income, $0.0022 per common share from short-term capital
gains and $0.0098 per common share from long-term capital gains, payable
October 31, 2008, to shareholders of record as of October 24, 2008, with
an ex-dividend date of October 22, 2008. These distributions are being
paid to common shareholders prior to the Fund’s
merger with and into Western Asset Emerging Markets Income Fund II Inc.
(NYSE: EDF) effective prior to the opening of business on November 3,
2008.
Western Asset Emerging Markets Income Fund Inc. will merge with and into
Western Asset Emerging Markets Income Fund II Inc. following the close
of business on October 31, 2008. Effective with the merger and prior to
the opening of business on November 3, 2008, shareholders of Western
Asset Emerging Markets Income Fund Inc. will become shareholders of
Western Asset Emerging Markets Income Fund II Inc. Following the
completion of 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).
In order to facilitate this transaction, Western Asset Emerging Markets
Income Fund Inc. will suspend its distribution reinvestment plan for the
month of October 2008, and distribution reinvestment plan participants
will instead receive cash payments. Any shareholder that is a
participant in the Western Asset Emerging Markets Income Fund Inc.
distribution reinvestment plan will automatically become re-enrolled in
the distribution reinvestment plan for Western Asset Emerging Markets
Income Fund II Inc. Any investor who is not currently a plan participant
but wishes to become one may either contact American Stock Transfer and
Trust Company, in writing at 59 Maiden Lane, New York, NY 10038 or by
telephone at 1-877-248-6417, or speak with his or her financial advisor.
This press release is not for tax reporting purposes but is being
provided to announce the amount of the Fund's distributions that have
been declared by the Board of Directors. In early 2009, 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 a shareholder's tax return (e.g.,
ordinary income, long-term capital gain or return of capital).
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.
Legg Mason & Co., LLC
Brenda Grandell, 212-857-8087
Director,
Closed-End Funds
