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Western Asset High Yield Defined Opportunity Fund Inc. Replay Now Available for Conference Call

^{Published on 2010-12-22 13:56:35 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Western Asset High Yield Defined Opportunity Fund Inc. (NYSE: HYI), held a live conference call on December 20, 2010 to provide an update on the Fund's performance and investment activities since its successful initial public offering on October 27, 2010. Western Asset Management Company (aWestern Asseta) portfolio manager Michael Buchanan, along with research analyst Chris Kilpatrick, discussed the Fund's investment portfolio and outlook and then concluded with a question and answer session.

Investors can access the replay of this call by phone or by visiting our website:

The Fund's primary investment objective is to provide high income. As a secondary investment objective, the Fund will seek capital appreciation. There can be no assurance the Fund will achieve its investment objectives.

The Fund seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its net assets in a portfolio of high-yield corporate fixed income securities with varying maturities. aHigh-yielda refers to below investment grade quality (also commonly referred to as ajunk bondsa). When choosing investments, Western Asset will focus on high-yield securities that it believes exhibit pricing inefficiencies, improving credit conditions that offer income opportunities and the potential for high real yields and capital appreciation.

An investment in the Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate. Commentary is provided for informational purposes only. The shares of the Fund trade on the NYSE and are not sold by Legg Mason Partners Fund Advisor, LLC or any of its affiliates.

Western Asset High Yield Defined Opportunity Fund Inc. is a non-diversified, limited-term, closed-end management investment company which is advised by Legg Mason Partners Fund Advisor, LLC and subadvised by Western Asset; both are wholly owned subsidiaries of Legg Mason, Inc. (aLegg Masona).

Legg Mason is the 6th largest closed-end fund manager in the U.S., with $10 billion in assets under management as of September 30, 2010.

For more information please call 1-888-777-0102 or consult the Fundsa™ web site at [ www.leggmason.com/cef ].