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Mon, November 14, 2011

Western Asset Emerging Markets Income Fund Inc. (aEMDa) Sets New Rate and Announces Quarterly Distribution for December 2011


Published on 2011-11-14 05:35:47 - Market Wire
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NEW YORK--([ ])--Western Asset Emerging Markets Income Fund Inc. (NYSE: EMD) today announced a quarterly distribution of $0.2400 per common share payable in December 2011. The Fund had previously paid a quarterly distribution of $0.2300 per share.

The distribution schedule appears below:

Month

Ex-Date

Record Date

Payable Date

Amount

December 12/14/2011 12/16/2011 12/23/2011 $0.2400

The Fund has increased its managed distribution rate to a level that better reflects both the current level of income and total return generated by the Fundas investment portfolio, and that the Fundas management believes is sustainable for foreseeable upcoming distributions pursuant to the Fund having adopted a managed distribution policy.

Under the terms of the Fundas managed distribution policy, the Fund seeks to maintain a consistent distribution level, stated as a fixed rate per common share per quarter, that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fundas aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund's assets and will constitute a return of the shareholderas capital. A return of capital is not taxable; rather it reduces a shareholderas tax basis in his or her shares of the Fund.

The Board of Directors may reduce the Fundas quarterly distribution rate in the future or terminate or suspend the managed distribution policy at any time. Any such reduction in the quarterly distribution rate, termination or suspension could have an adverse effect on the market price of the Fund's shares.

Based on the Fund's accounting records as of the date of this press release, the Fund estimates that approximately 86.16% of the cumulative fiscal year-to-date distributions through December 2011 are sourced from net investment income, 2.37% are sourced from short-term capital gains and 11.47% are sourced from long-term capital gains. The estimated components of the distribution announced today will be provided to shareholders of record in a separate notice.

Please note that neither this press release nor the separate notice should be used for tax reporting purposes and that each is being provided to announce the amount and estimated source of the Fund's distributions that have been declared by the Board of Directors. In early 2012, 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 shareholderas tax return (e.g., ordinary income, long-term capital gain or return of capital).

Western Asset Emerging Markets Income Fund Inc., a non-diversified, closed-end management investment company, is managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Legg Mason, Inc. and is sub-advised by Western Asset Management Company, an affiliate of the investment manager.

Contact the Fund at 1-888-777-0102 for additional information, or consult the Fundas web site at [ www.leggmason.com/cef ].

Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Fund.

Contributing Sources