Certain Closed End Funds Advised by Western Asset Management Company
Announce New Directors/Trustees and Officer
NEW YORK -- May 28, 2013
Legg Mason Partners Fund Advisor, LLC:
Western Asset Income Fund (NYSE: PAI), and
Western Asset Premier Bond Fund (NYSE: WEA) (together, the “Funds”).
The Funds announced today the retirement of R. Jay Gerken as Director/Trustee
of the Funds and as Chief Executive Officer and President of the Funds,
effective May 22, 2013. Mr. Gerken served as a Director/Trustee for the Funds
since 2006 and as President since 2007.
The stockholders of PAI elected Robert Abeles, Jr. and Kenneth D. Fuller as
new Directors of PAI, effective May 22, 2013. The shareholders of WEA elected
Robert Abeles, Jr. as a new Trustee of WEA, effective May 22, 2013. The Board
of WEA has appointed Kenneth D. Fuller as a new Trustee of WEA, effective May
Additionally, the Board of each Fund has appointed Mr. Fuller as the Chief
Executive Officer and President of each Fund.
Mr. Abeles is Senior Vice President, Finance and Chief Financial Officer of
University of Southern California (since 2009); formerly, Director of Hanmi
Financial Corporation and Hanmi Bank (2008-2009).
Mr. Fuller is a Managing Director of Legg Mason & Co., LLC (“Legg Mason &
Co.”) (since 2013); Officer and/or Director/Trustee of 162 funds associated
with Legg Mason Partners Fund Advisor, LLC (“LMPFA”) (since 2013); President
and Chief Executive Officer of LM Asset Services, LLC (formerly a registered
investment adviser) (since 2013); formerly, Senior Vice President of LMPFA
(since 2012); formerly, Director of Legg Mason & Co. (2012 to 2013); formerly,
Vice President of Legg Mason & Co. (2009 to 2012); formerly, Vice President of
T. Rowe Price Associates (1993 to 2009), as well as Investment Analyst and
Portfolio Manager for certain asset allocation accounts (2004 to 2009).
Effective June 1, 2013, Mr. Fuller will become President and Chief Executive
Officer of LMPFA.
An investment in a Fund involves risk, including loss of principal. Investment
return and the value of shares will fluctuate. Any 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 Funds.
For more information, please call Investor Relations: 888-777-0102, or consult
the Funds’ web site at www.lmcef.com.
Maria Rosati, 212-805-6036
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