Western Asset Emerging Markets Income Fund II Inc., which is listed on
the New York Stock Exchange under the symbol “EDF,”
announced today the completion of the merger of Western Asset Emerging
Markets Income Fund Inc. with and into Western Asset Emerging Markets
Income Fund II Inc. Effective prior to the opening of business on
November 3, 2008, shareholders of Western Asset Emerging Markets Income
Fund Inc. (which previously traded on the New York Stock Exchange under
the symbol “EMD”)
became shareholders of Western Asset Emerging Markets Income Fund II Inc.
Each share of common stock of Western Asset Emerging Markets Income Fund
Inc. converted into an equivalent dollar amount (to the nearest $0.001)
of full shares of common stock of Western Asset Emerging Markets Income
Fund II, based on the net asset value per share of each Fund calculated
at the close of business on Friday, October 31, 2008. Western Asset
Emerging Markets Income Fund II reported a net asset value per share of
$10.04 and Western Asset Emerging Markets Income Fund Inc. reported a
net asset value per share of $9.96 as of the close of business on
Friday, October 31, 2008. The conversion ratio was calculated at
0.992105 common shares of Western Asset Emerging Markets Income Fund II
for each common share of Western Asset Emerging Markets Income Fund Inc.
Western Asset Emerging Markets Income Fund II did not issue any
fractional shares to Western Asset Emerging Markets Income Fund Inc.
shareholders. In lieu thereof, Western Asset Emerging Markets Income
Fund II purchased all fractional shares at the current net asset value
of the shares and remitted the cash proceeds to former Western Asset
Emerging Markets Income Fund Inc. shareholders in proportion to their
fractional shares.
As of October 31, 2008, the post-merger net assets of Western Asset
Emerging Markets Income Fund II Inc. totaled $287,389,862 and its net
asset value per common share was $10.04 based on approximately
28,614,020 shares outstanding.
Also effective prior to the opening of business on November 3, 2008,
Western Asset Emerging Markets Income Fund II Inc. was renamed Western
Asset Emerging Markets Income Fund Inc. and will trade on the New York
Stock Exchange under the symbol “EMD”.
The Cusip number for the Fund’s common stock
is 95766E103.
Western Asset Emerging Markets Income Fund Inc. is a closed-end,
non-diversified management investment company. Legg Mason Partners Fund
Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc., serves as
the Fund’s investment manager and Western
Asset Management Company, an affiliate of the investment manager, serves
as the Fund’s sub-adviser.
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
