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Western Asset Variable Rate Strategic Fund Inc. Announces Results of Annual Meeting of Shareholders

  Western Asset Variable Rate Strategic Fund Inc. Announces Results of Annual
  Meeting of Shareholders

Business Wire

NEW YORK -- February 4, 2013

Western Asset Variable Rate Strategic Fund Inc. (NYSE: GFY) announced today
the results of the votes cast at the Fund’s annual meeting of shareholders
held on January 25, 2013.

Paolo M. Cucchi, Riordan Roett and Jeswald W. Salacuse were elected as Class I
Directors of the Fund by shareholders of the Fund’s common stock to hold
office until the annual meeting of shareholders in the year 2016 or thereafter
when respective successors are duly elected and qualified.

Western Asset Variable Rate Strategic Fund Inc. is a non-diversified
closed-end management investment company that is advised 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
adviser.

Contact the Fund at 1-888-777-0102 for more information or consult the Fund’s
web site at www.lmcef.com.

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

Contact:

Media:
Western Asset Variable Rate Strategic Fund Inc.
Maria Rosati, 212-805-6036
mrosati@leggmason.com