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Western Asset Managed Municipals Fund Inc. Announces Financial Position as of August 31, 2012

  Western Asset Managed Municipals Fund Inc. Announces Financial Position as
  of August 31, 2012

Business Wire

NEW YORK -- November 08, 2012

Western Asset Managed Municipals Fund Inc. (NYSE: MMU) today announced the
financial position of the Fund as of August 31, 2012.

                         Current Q        Previous Q        Prior Yr Q
                         August 31, 2012   May 31, 2012       August 31, 2011
Total Assets (a)         $ 855,857,360     $ 850,633,844      $ 788,158,378
Total Net Assets (a)     $ 605,104,701     $ 594,961,831      $ 537,647,653
NAV Per Share of Common  $ 14.20           $ 13.98            $ 12.70
Stock (b)
Market Price Per Share   $ 14.65           $ 13.86            $ 12.53
Premium / (Discount)       3.17        %     (0.86       )%     (1.34       )%
Outstanding Shares         42,622,817        42,562,180         42,345,099
                                                              
Total Net Investment     $ 8,859,656       $ 8,661,629        $ 9,231,561
Income (c)
Total Net
Realized/Unrealized      $ 8,907,967       $ 7,742,967        $ 14,644,279
Gain/(Loss) (c)
Preferred Dividends Paid
from Net Investment      $ (167,682    )   $ (189,763    )    $ (130,450    )
Income (c)
Net Increase (Decrease)
in Net Assets From       $ 17,599,941     $ 16,214,833      $ 23,745,390  
Operations (c)
                                                              
Earnings per Common
Share Outstanding
Total Net Investment     $ 0.20            $ 0.20             $ 0.22
Income (c)
Total Net
Realized/Unrealized      $ 0.21            $ 0.18             $ 0.35
Gain/(Loss) (c)
Preferred Dividends Paid
from Net Investment      $ (0.00       )   $ (0.00       )    $ (0.00       )
Income (c)
Net Increase
(Decrease)in Net Assets  $ 0.41           $ 0.38            $ 0.57        
From Operations (c)
                                                              
Undistributed Net        $ 17,674,551      $ 17,286,230       $ 16,027,397
Investment Income (d)
Undistributed Net
Investment Income
Per Share (d)            $ 0.41            $ 0.41             $ 0.38
                                                              
Preferred Shares         $ 250,000,000     $ 250,000,000      $ 250,000,000
Outstanding (d)

Footnotes:

(a) The difference between total assets and total net assets is due primarily
to its outstanding auction rate preferred stock (“ARPS); total net assets do
not include the liquidation value of ARPS.

(b) NAVs are calculated as of the close of business on the last business day
in the periods indicated above.

(c) For the quarter indicated.

(d) As of the date indicated above.

This financial data is unaudited.

The Fund files its semi-annual and annual reports with the Securities and
Exchange Commission, as well as its complete schedule of portfolio holdings
for the first and third quarters of each fiscal year on Form N-Q. These
reports are available on the Commission’s website at www.sec.gov. To obtain
information on Form N-Q or a semi-annual or annual report from the Fund,
shareholders can call 1-888-777-0102.

Western Asset Managed Municipals Fund Inc., a non-diversified, closed-end
investment management 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 manager.

For more information, please call 1-888-777-0102 or consult the Fund’s web
site at www.lmcef.com.

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.

Contact:

Western Asset Managed Municipals Fund Inc.
Maria Rosati, 212-805-6036
mrosati@leggmason.com