Western Asset Premier Bond Fund Announces Monthly Distribution

Pasadena, CA - July 1, 2008 - The Western Asset Premier Bond Fund (NYSE: WEA) announced today the declaration of its monthly ordinary income dividend of $0.09375 per share. The monthly dividend will be paid on July 31, 2008 to shareholders of record as of July 15, 2008. The ex-dividend date will be July 11, 2008.

This press release is not for tax reporting purposes and is being provided to announce the amount of the Fund's distributions that have been declared by the Board of Trustees. In early 2009, 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 calendar year 2008 should be characterized for purposes of reporting the distributions on your tax return (e.g., ordinary income, long-term capital gain or return of capital).

The Fund is a closed-end investment company that invests predominantly in a diversified portfolio of debt securities. Its investment adviser is Western Asset Management Company; a subsidiary of Legg Mason, Inc. Western Asset Management Company has managed the Fund since its inception in March 1973.

For Fund related questions, please contact Western Asset Management Company at (877) 844-8800.

For shareholder related questions please contact Computershare Investor Services, at (866) 290-4386.

Western Asset Premier Bond Fund Announces Actions to Restructure Leverage with Redemption of its Auction Rate Preferred Shares

New York, NY - May 22, 2008. Western Asset Premier Bond Fund (NYSE: WEA) today announced actions that would restructure the Fund's leverage and provide liquidity to holders of its auction rate preferred shares ("ARPS") on terms and conditions management and the Board of the Fund believe are in the best interests of both the common and preferred shareholders of the Fund. This transaction, if consummated, would provide liquidity for the $72 million of ARPS issued by the Fund.

Western Asset Premier Bond Fund intends to redeem all of its currently outstanding $72 million in ARPS using a combination of borrowings under a new $68 million, 364-day credit facility to be entered into with a major domestic bank, reverse repurchase agreements, cash currently in the Fund's portfolio, and/or the proceeds of sales of portfolio securities. Any use of cash currently in the Fund's portfolio or use of proceeds from the sale of portfolio securities could result in a moderate decrease in the Fund's leverage. The ARPS would be redeemed at the required liquidation preference of $25,000 per share plus accrued and unpaid dividends thereon.

The new credit facility, which was recommended by Fund management and approved by the Fund's Board of Trustees, is expected to lower the current cost of leverage for the Fund. The new financings also allow Western Asset Premier Bond Fund to change its primary method of leverage from ARPS to bank borrowings through the credit facility. Bank borrowings provide the Fund greater flexibility than ARPS to increase or decrease leverage in response to market conditions although regulatory requirements and requirements under the credit facility reduce the overall amount of leverage that can be employed using borrowings; however, the Fund may also use other investment techniques, such as reverse repurchase agreements, to increase or decrease leverage, as permitted by applicable law and the terms of the credit facility. It is also possible that the credit facility may become more expensive or unavailable in the future. On balance, however, management and the Board of the Fund believe that the potential benefits of the restructured financing will outweigh these risks.

Western Asset Premier Bond Fund is in negotiations to obtain the credit facility. While management of the Fund expects to reach definitive agreement with the bank to secure this loan shortly, there can be no assurance that the Fund will enter into a definitive credit facility or that the ARPS will be redeemed.

It is anticipated that Western Asset Premier Bond Fund will begin redeeming its ARPS in full beginning in the third quarter of this year. Additional information on the redemption will be issued subsequently via press release under the Fund's ticker, which can be accessed at www.westernasset.com.

Contact Western Asset Premier Bond Fund at 1-877-844-8800 or consult the Fund's web site at www.westernasset.com.

Western Asset Premier Bond Fund is a closed-end management investment company that invests primarily in a diversified portfolio of debt securities. It has been advised by Western Asset Management Company and sub-advised by Western Asset Management Company Limited, both subsidiaries of Legg Mason, Inc., since the Fund's inception in 2002.

THIS PRESS RELEASE IS NOT AN OFFER TO PURCHASE NOR A SOLICITATION OF AN OFFER TO SELL SHARES OF THE FUNDS. THIS PRESS RELEASE MAY CONTAIN STATEMENTS REGARDING PLANS AND EXPECTATIONS FOR THE FUTURE THAT CONSTITUTE FORWARD-LOOKING STATEMENTS WITHIN THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT ARE FORWARD-LOOKING AND CAN BE IDENTIFIED BY THE USE OF WORDS SUCH AS "MAY," "WILL," "EXPECT," "ANTICIPATE," "ESTIMATE," "BELIEVE," "CONTINUE" OR OTHER SIMILAR WORDS. SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON EACH FUND'S CURRENT PLANS AND EXPECTATIONS, AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS. ADDITIONAL INFORMATION CONCERNING SUCH RISKS AND UNCERTAINTIES ARE CONTAINED IN EACH FUND'S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.

Brenda Grandell, Director, Closed-End Funds, Legg Mason & Co., LLC, 212-857-8087

Western Asset Premier Bond Fund Announces Monthly Distribution

Pasadena, CA - May 1, 2008 - The Western Asset Premier Bond Fund (NYSE: WEA) announced today the declaration of its monthly ordinary income dividend of $0.09375 per share. The monthly dividend will be paid on May 30, 2008 to shareholders of record as of May 15, 2008. The ex-dividend date will be May 13, 2008.

This press release is not for tax reporting purposes and is being provided to announce the amount of the Fund's distributions that have been declared by the Board of Trustees. In early 2009, 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 calendar year 2008 should be characterized for purposes of reporting the distributions on your tax return (e.g., ordinary income, long-term capital gain or return of capital).

The Fund is a closed-end investment company that invests predominantly in a diversified portfolio of debt securities. Its investment adviser is Western Asset Management Company; a subsidiary of Legg Mason, Inc. Western Asset Management Company has managed the Fund since its inception in March 1973.

For Fund related questions, please contact Western Asset Management Company at (877) 844-8800.

For shareholder related questions please contact Computershare Investor Services, at (866) 290-4386.

Background on Auction Rate Preferred Securities (ARPS) and Closed-End Funds

Many closed-end funds sell auction rate preferred securities in order to employ leverage. These auction rate securities typically reset at either seven or 28 days. At each reset, a "Dutch auction" takes place during which a new rate is set. Recently, closed-end funds across the industry have experienced "failed auctions" in the auction rate preferred market.

We believe that this issue is a liquidity issue, not a credit issue, and most likely relates to the continued severe dislocations in the credit markets. The assets of closed-end funds, which are valued on a daily basis, serve as the collateral for issuance of auction rate preferred securities. By law, closed-end funds must have at least $2 of collateral for every $1 of auction rate preferred securities issued.

Even though these have been referred to as "failed auctions," there has been no default nor is there a loss of principal. Normally, a "Dutch auction" occurs and buyers are matched up with sellers. The clearing "bid yield" is then applied to all the securities in that auction. A "failed auction" occurs when there are not enough buyers to match with sellers. At that point, preferred shareholders who wish to sell may not be able to do so until an auction occurs where a sufficient number of buy orders are submitted.

As a result of a "failed auction," the issuer pays a rate, called "the maximum rate," as compensation to the preferred holders who typically wait until the next auction for another attempt to sell securities. The maximum rate is capped, based on a predetermined formula.

To date, these events have not had a significant effect on the operations of LMP and Western Asset's closed end funds. At current rates, the ability of the manager to manage these funds has not been impaired. We will continue to monitor the situation carefully. Preferred shares issued by the seven funds which utilize this funding source continue to be AAA/Aaa rated by one or more nationally recognized credit agencies. While failed auctions have affected the closed-end fund market, many of the high-profile failed auctions in the auction rate preferred market covered in the press, are not related to closed-end funds. These include auction rate shares issued by student loan authorities, utilities, and municipalities. At current rates, Legg Mason believes that maintaining the existing level of each fund's leverage is in the best interest of the fund and common shareholders. Other Legg Mason and Western Asset closed-end funds that employ leverage do so by other means.

Closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering and once issued, shares of closed-end funds are sold in the open market through a stock exchange. Net asset value (NAV) is total assets less total liabilities divided by the number of shares outstanding. At the time of sale, your shares may have a market price that is above or below NAV. There is no assurance that the fund will achieve its investment objective. The fund is subject to investment risks, including the possible loss of principal invested.

Legg Mason Investor Services, LLC, and Western Asset Management Co. are subsidiaries of Legg Mason Inc.

Copyright 2008 Legg Mason Investor Services, LLC. Member FINRA, SIPC

Western Asset Premier Bond Fund Announces Monthly Distribution

Pasadena, CA - February 1, 2008 - The Western Asset Premier Bond Fund (NYSE: WEA) announced today the declaration of its monthly ordinary income dividend of $0.09375 per share. The monthly dividend will be paid on February 29, 2008 to shareholders of record as of February 15, 2008. The ex-dividend date will be February 13, 2008.

This press release is not for tax reporting purposes and is being provided to announce the amount of the Fund's distributions that have been declared by the Board of Trustees. In early 2009, 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 calendar year 2008 should be characterized for purposes of reporting the distributions on your tax return (e.g., ordinary income, long-term capital gain or return of capital).

The Fund is a closed-end investment company that invests predominantly in a diversified portfolio of debt securities. Its investment adviser is Western Asset Management Company; a subsidiary of Legg Mason, Inc. Western Asset Management Company has managed the Fund since its inception in March 1973.

For Fund related questions, please contact Western Asset Management Company at (877) 844-8800.

For shareholder related questions please contact Computershare Investor Services, at (866) 290-4386.

Western Asset Premier Bond Fund Announces Monthly Distribution

Pasadena, CA - January 2, 2008 - The Western Asset Premier Bond Fund (NYSE: WEA) announced today the declaration of its monthly ordinary income dividend of $0.09375 per share. The monthly dividend will be paid on January 31, 2008 to shareholders of record as of January 15, 2008. The ex-dividend date will be January 11, 2008.

This press release is not for tax reporting purposes and is being provided to announce the amount of the Fund's distributions that have been declared by the Board of Trustees. In early 2009, 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 calendar year 2008 should be characterized for purposes of reporting the distributions on your tax return (e.g., ordinary income, long-term capital gain or return of capital).

The Fund is a closed-end investment company that invests predominantly in a diversified portfolio of debt securities. Its investment adviser is Western Asset Management Company; a subsidiary of Legg Mason, Inc. Western Asset Management Company has managed the Fund since its inception in March 1973.

For Fund related questions, please contact Western Asset Management Company at (877) 844-8800.

For shareholder related questions please contact Computershare Investor Services, at (866) 290-4386.

Western Asset Premier Bond Fund Announces Distribution

Pasadena, CA - December 3, 2007 The Western Asset Premier Bond Fund (NYSE: WEA) announced today the declaration of a distribution totaling $0.135 per share, payable on December 31, 2007 to shareholders of record as of December 14, 2007. The ex-dividend date will be December 12, 2007.

December Income Distribution ⁽¹⁾: $0.000
Capital Gain Distribution ⁽²⁾: $0.135
----------------
Total Distribution: $0.135

⁽¹⁾ Due to certain US Internal Revenue Service tax-mandated reclassifications, no ordinary income dividend payment is being made for December 2007.

⁽²⁾ Long-term capital gain distribution declared to meet excise tax requirements.

This press release is not for tax reporting purposes and is being provided to announce the amount of the Fund's distribution that has been declared by the Board of Trustees. In early 2008, 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 calendar year 2007 should be characterized for purposes of reporting the distributions on your tax return (e.g., ordinary income, long-term capital gain or return of capital).

The Fund is a closed-end investment company that invests predominantly in a diversified portfolio of debt securities. Its investment adviser is Western Asset Management Company; a subsidiary of Legg Mason, Inc. Western Asset Management Company has managed the Fund since its inception in March 1973.

For Fund related questions, please contact Western Asset Management Company at (877) 844-8800.

For shareholder related questions please contact Computershare Investor Services, at (866) 290-4386.

Western Asset Premier Bond Fund Announces Monthly Distribution

Pasadena, CA - November 1, 2007 - The Western Asset Premier Bond Fund (NYSE: WEA) announced today the declaration of its monthly ordinary income dividend of $0.09375 per share. The monthly dividend will be paid on November 30, 2007 to shareholders of record as of November 15, 2007. The ex-dividend date will be November 13, 2007.

This press release is not for tax reporting purposes and is being provided to announce the amount of the Fund's distributions that have been declared by the Board of Trustees.  In early 2008, 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 calendar year 2007 should be characterized for purposes of reporting the distributions on your tax return (e.g., ordinary income, long-term capital gain or return of capital).

The Fund is a closed-end investment company that invests predominantly in a diversified portfolio of debt securities. Its investment adviser is Western Asset Management Company; a subsidiary of Legg Mason, Inc. Western Asset Management Company has managed the Fund since its inception in March 1973.

For Fund related questions, please contact Western Asset Management Company at (877) 844-8800.

For shareholder related questions please contact Computershare Investor Services, at (866) 290-4386.

Western Asset Premier Bond Fund Announces Monthly Distribution

October 1, 2007 -- The Western Asset Premier Bond Fund (NYSE: WEA) announced today the declaration of its monthly ordinary income dividend of $0.09375 per share. The monthly dividend will be paid on October 31, 2007 to shareholders of record as of October 15, 2007. The ex-dividend date will be October 11, 2007.

This press release is not for tax reporting purposes and is being provided to announce the amount of the Fund's distributions that have been declared by the Board of Trustees. In early 2008, 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 calendar year 2007 should be characterized for purposes of reporting the distributions on your tax return (e.g., ordinary income, long-term capital gain or return of capital).

The Fund is a closed-end investment company that invests predominantly in a diversified portfolio of debt securities. Its investment adviser is Western Asset Management Company; a subsidiary of Legg Mason, Inc. Western Asset Management Company has managed the Fund since its inception in March 1973.

CONTACT:
For Fund related questions:
Western Asset Management Company, 877-844-8800
or
For shareholder related questions:
Computershare Investor Services, 866-290-4386

Western Asset Premier Bond Fund Announces Monthly Distribution

September 4, 2007 -- The Western Asset Premier Bond Fund (NYSE: WEA) announced today the declaration of its monthly ordinary income dividend of $0.09375 per share. The monthly dividend will be paid on September 28, 2007 to shareholders of record as of September 14, 2007. The ex-dividend date will be September 12, 2007.

This press release is not for tax reporting purposes and is being provided to announce the amount of the Fund's distributions that have been declared by the Board of Trustees. In early 2008, 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 calendar year 2007 should be characterized for purposes of reporting the distributions on your tax return (e.g., ordinary income, long-term capital gain or return of capital).

The Fund is a closed-end investment company that invests predominantly in a diversified portfolio of debt securities. Its investment adviser is Western Asset Management Company; a subsidiary of Legg Mason, Inc. Western Asset Management Company has managed the Fund since its inception in March 1973.

CONTACT:
For Fund related questions:
Western Asset Management Company, 877-844-8800
or
For shareholder related questions:
Computershare Investor Services, 866-290-4386

Western Asset Premier Bond Fund Announces Monthly Distribution

August 1, 2007 -- The Western Asset Premier Bond Fund (NYSE: WEA) announced today the declaration of its monthly ordinary income dividend of $0.09375 per share. The monthly dividend will be paid on August 31, 2007 to shareholders of record as of August 15, 2007. The ex-dividend date will be August 13, 2007.

This press release is not for tax reporting purposes and is being provided to announce the amount of the Fund's distributions that have been declared by the Board of Trustees. In early 2008, 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 calendar year 2007 should be characterized for purposes of reporting the distributions on your tax return (e.g., ordinary income, long-term capital gain or return of capital).

The Fund is a closed-end investment company that invests predominantly in a diversified portfolio of debt securities. Its investment adviser is Western Asset Management Company; a subsidiary of Legg Mason, Inc. Western Asset Management Company has managed the Fund since its inception in March 1973.

CONTACT:
For Fund related questions:
Western Asset Management Company, 877-844-8800
or
For shareholder related questions:
Computershare Investor Services, 866-290-4386

Western Asset Premier Bond Fund Announces Monthly Distribution

July 2, 2007 -- The Western Asset Premier Bond Fund (NYSE: WEA) announced today the declaration of its monthly ordinary income dividend of $0.09375 per share. The monthly dividend will be paid on July 31, 2007 to shareholders of record as of July 13, 2007. The ex-dividend date will be July 11, 2007.

This press release is not for tax reporting purposes and is being provided to announce the amount of the Fund's distributions that have been declared by the Board of Trustees. In early 2008, 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 calendar year 2007 should be characterized for purposes of reporting the distributions on your tax return (e.g., ordinary income, long-term capital gain or return of capital).

The Fund is a closed-end investment company that invests predominantly in a diversified portfolio of debt securities. Its investment adviser is Western Asset Management Company; a subsidiary of Legg Mason, Inc. Western Asset Management Company has managed the Fund since its inception in March 1973.

CONTACT:
Fund related questions:
Western Asset Management Company, 877-844-8800
or
Shareholder related questions:
Computershare Investor Services, 866-290-4386

Western Asset Premier Bond Fund Announces Monthly Distribution

June 1, 2007 -- The Western Asset Premier Bond Fund (NYSE: WEA) announced today the declaration of its monthly ordinary income dividend of $0.09375 per share. The monthly dividend will be paid on June 29, 2007 to shareholders of record as of June 15, 2007. The ex-dividend date will be June 13, 2007.

This press release is not for tax reporting purposes and is being provided to announce the amount of the Fund's distributions that have been declared by the Board of Trustees. In early 2008, 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 calendar year 2007 should be characterized for purposes of reporting the distributions on your tax return (e.g., ordinary income, long-term capital gain or return of capital).

The Fund is a closed-end investment company that invests predominantly in a diversified portfolio of debt securities. Its investment adviser is Western Asset Management Company; a subsidiary of Legg Mason, Inc. Western Asset Management Company has managed the Fund since its inception in March 1973.

CONTACT:
Fund related questions:
Western Asset Management Company, 877-844-8800
or
Shareholder related questions:
Computershare Investor Services, 866-290-4386

Western Asset Premier Bond Fund Announces Capital Gain Distribution

May 8, 2007 -- The Western Asset Premier Bond Fund (NYSE: WEA) announced today the declaration of a long-term capital gain of $0.0581 per share. The distribution will be paid on May 31, 2007 to shareholders of record as of May 18, 2007. The ex-dividend date will be May 16, 2007.

This press release is not for tax reporting purposes and is being provided to announce the amount of the Fund's distributions that have been declared by the Board of Directors. In early 2008, 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 calendar year 2007 should be characterized for purposes of reporting the distributions on your tax return (e.g., ordinary income, long-term capital gain or return of capital).

The Fund is a closed-end investment company that invests predominantly in a diversified portfolio of debt securities. Its investment adviser is Western Asset Management Company; a subsidiary of Legg Mason, Inc. Western Asset Management Company has managed the Fund since its inception in March 1973.

CONTACT:
For The Western Asset Premier Bond Fund
Computershare, 866-290-4386

Western Asset Premier Bond Fund Announces Distribution

May 1, 2007 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a distribution of $0.09375 per share, payable on May 31, 2007, to shareholders of record on May 15, 2007. Ex-date will be May 11, 2007.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

CONTACT:
For The Western Asset Premier Bond Fund
Computershare, 866-290-4386

Western Asset Premier Bond Fund Announces Distribution

April 2, 2007 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a distribution of $0.09375 per share, payable on April 30, 2007, to shareholders of record on April 13, 2007. Ex-date will be April 11, 2007.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

CONTACT:
For The Western Asset Premier Bond Fund
Computershare, 866-290-4386

Western Asset Premier Bond Fund Announces Dividend

March 1, 2007 The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a distribution of $0.09375 per share, payable on March 30, 2007, to shareholders of record on March 15, 2007. Ex-date will be March 13, 2007.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

February 1, 2007 The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a distribution of $0.09375 per share, payable on February 28, 2007, to shareholders of record on February 15, 2007. Ex-date will be February 13, 2007.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

January 1, 2007 The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a distribution of $0.09375 per share, payable on January 31, 2007, to shareholders of record on January 12, 2007. Ex-date will be January 10, 2007.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

December 4, 2006 The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of distributions totaling $0.26390 per share, payable on December 29, 2006, to shareholders of record on December 15, 2006. Ex-date will be December 13, 2006. The payment consists of the following components on a per share basis:

December Income Distribution    $ 0.07026
Capital Gain Distribution⁽¹⁾    $ 0.19364
----------------
Total Distributions    $ 0.26390

⁽¹⁾Long-term capital gain distribution declared to meet excise tax requirements.

This press release is not for tax reporting purposes and is being provided to announce the amount of the Fund's distributions that have been declared. In early 2007, 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 calendar year 2006 should be characterized for purposes of reporting the distributions on a shareholder's tax return (e.g., ordinary income, long-term capital gain or return of capital).

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

November 1, 2006 The Western Asset Premier Bond Fund (NYSE: WEA) (CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on November 30, 2006, to shareholders of record on November 15, 2006. Ex-date will be November 13, 2006.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

October 2, 2006 The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105)announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on October 31, 2006, to shareholders of record on October 13, 2006. Ex-date will be October 11, 2006.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

September 1, 2006 The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on September 29, 2006, to shareholders of record on September 15, 2006. Ex-date will be September 13, 2006.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

August 1, 2006 The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on August 31, 2006, to shareholders of record on August 15, 2006. Ex-date will be August 11, 2006.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

July 3, 2006 The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on July 31, 2006, to shareholders of record on July 14, 2006. Ex-date will be July 12, 2006.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

June 1, 2006 The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on June 30, 2006, to shareholders of record on June 15, 2006. Ex-date will be June 13, 2006.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

May 1, 2006 The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on May 31, 2006, to shareholders of record on May 15, 2006. Ex-date will be May 11, 2006.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

April 3, 2006 The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on April 28, 2006, to shareholders of record on April 13, 2006. Ex-date will be April 11, 2006.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

March 2, 2006 The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on March 31, 2006, to shareholders of record on March 15, 2006. Ex-date will be March 13, 2006.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

February 1, 2006 The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on February 28, 2006, to shareholders of record on February 15, 2006. Ex-date will be February 13, 2006.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

January 3, 2006 The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on January 31, 2006, to shareholders of record on January 20, 2006. Ex-date will be January 18, 2006.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

November 1, 2005

The Western Asset Premier Bond Fund announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on November 30, 2005, to shareholders of record on November 15, 2005. Ex-date will be November 10, 2005.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386

Western Asset Premier Bond Fund Announces Dividend

October 3, 2005

The Western Asset Premier Bond Fund announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on October 31, 2005, to shareholders of record on October 17, 2005. Ex-date will be October 13, 2005.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386

Western Asset Premier Bond Fund Announces Dividend

September 1, 2005

The Western Asset Premier Bond Fund announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on September 30, 2005, to shareholders of record on September 15, 2005. Ex-date will be September 13, 2005.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact Computershare at 866.290.4386

Western Asset Premier Bond Fund Announces Dividend

August 1, 2005

The Western Asset Premier Bond Fund announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on August 31, 2005, to shareholders of record on August 15, 2005. Ex-date will be August 11, 2005.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, July 1, 2005 The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on July 29, 2005, to shareholders of record on July 15, 2005. Ex-date will be July 13, 2005.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, June 1, 2005

The Western Asset Premier Bond Fund (NYSE:WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on June 30, 2005, to shareholders of record on June 15, 2005. Ex-date will be June 13, 2005.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe Trust Company N.A. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, May 2, 2005

The Western Asset Premier Bond Fund (NYSE: WEA - News; CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on May 31, 2005, to shareholders of record on May 13, 2005. Ex-date will be May 11, 2005.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe Trust Company N.A. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, April 1, 2005

The Western Asset Premier Bond Fund (NYSE:WEA - News; CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on April 29, 2005, to shareholders of record on April 15, 2005. Ex-date will be April 13, 2005.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe Trust Company N.A. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, March 1, 2005 -- The Western Asset Premier Bond Fund (NYSE:WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.09375 per share, payable on March 31, 2005, to shareholders of record on March 15, 2005. Ex-date will be March 11, 2005.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe Trust Company N.A. at 866-290-4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, February 1, 2005 -- The Western Asset Premier Bond Fund (NYSE: WEA)(CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on February 28, 2005, to shareholders of record on February 15, 2005. Ex-date will be February 11, 2005.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe Trust Company N.A. at 866-290-4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, December 1, 2004 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on December 17, 2004, to shareholders of record on December 13, 2004. Ex-date will be December 9, 2004.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe Trust Company N.A. at 866-290-4386.

Fitch Affirms Western Asset Premier Bond Fund's Preferred Shares Ratings

Los Angeles, December 1, 2004 -- Fitch Ratings affirms the ratings on the following Western Asset Premier Bond Fund's auction market preferred shares at 'AAA':

• Auction market preferred shares, 1,440 shares series M;
• Auction market preferred shares, 1,440 shares series W.
  

The affirmation is based on the fund's consistent compliance with asset coverage and preferred share basic maintenance amount tests, as well as the quality and experience of the asset manager.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment-grade bonds. The fund is registered under the Investment Company Act of 1940, which permits closed-end funds to borrow funds through the issuance of debt and preferred stock. Under the 1940 Act, closed-end funds may borrow up to 50% of the fund's value through the issuance of preferred shares and debt. The fund's current outstanding preferred share issuance equates to approximately 29% of its total managed assets, and the fund has no outstanding debt.

Founded in 1971 with offices in Pasadena, London, and Singapore, Western Asset Management Company is a wholly owned subsidiary of Legg Mason, Inc. As of Sept. 30, 2004, Western Asset Management Company had approximately $177 billion in assets under management.

For more information, contact Fitch Ratings Media Relations at 212-908-0278.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, November 5, 2004 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on November 30, 2004, to shareholders of record on November 15, 2004. Ex-date will be November 10, 2004.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe Trust Company N.A. at 866-290-4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, October 5, 2004 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on October 29, 2004, to shareholders of record on October 15, 2004.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe Trust Company N.A. at 866-290-4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, Sept. 7, 2004 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP:957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on September 30, 2004, to shareholders of record on September 17, 2004.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions: EquiServe Trust Company N.A. 866-290-4386

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, Aug. 3, 2004 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on August 31, 2004, to shareholders of record on August 16, 2004.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions: EquiServe Trust Company N.A. 866-290-4386

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, July 6, 2004 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on July 30, 2004, to shareholders of record on July 16, 2004.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, June 4, 2004 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on June 30, 2004, to shareholders of record on June 15, 2004.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, May 3, 2004 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on May 28, 2004, to shareholders of record on May 17, 2004.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, April 5, 2004 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on April 30, 2004, to shareholders of record on April 15, 2004.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, March 4, 2004 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on March 31, 2004, to shareholders of record on March 15, 2004.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, February 4, 2004 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on February 27, 2004, to shareholders of record on February 17, 2004.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund

Los Angeles, December 22, 2003 --Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announces dividends and distributions totalling $0.141250 payable on January 9, 2004 to shareholders of record on December 30, 2003. Ex-Date is December 26, 2003. The payment consists of the following components on a per share basis:

*Additional Ordinary Income Dividend declared to meet excise tax requirements.

For more information, contact Princeton Administrators, L. P. at (800) 543-6217.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, December 2, 2003 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on December 19, 2003, to shareholders of record on December 9, 2003.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, November 6, 2003 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on November 28, 2003, to shareholders of record on November 13, 2003.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, October 8, 2003 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on October 31, 2003, to shareholders of record on October 20, 2003.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866 290-4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, September 5, 2003 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on September 30, 2003, to shareholders of record on September 17, 2003.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 800-426-5523.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, August 7, 2003 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on August 29, 2003, to shareholders of record on August 18, 2003.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866 290 4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, July 10, 2003 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on July 31, 2003, to shareholders of record on July 18, 2003.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, June 9, 2003 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on June 30, 2003, to shareholders of record on June 17, 2003.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, May 7, 2003 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on May 30, 2003, to shareholders of record on May 16, 2003.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, March 6, 2003 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on March 31, 2003, to shareholders of record on March 18, 2003.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund

Los Angeles, February 5, 2003 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on February 28, 2003, to shareholders of record on February 14, 2003.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund

Los Angeles, December 23, 2002 -- Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announces dividends and distributions totaling $0.116250 payable on January 10, 2003 to shareholders of record on December 31, 2002. Ex-Date is December 27, 2002. The payment consists of the following components on a per share basis:

*Special Dividend declared to meet excise tax requirements.

For more information, contact Princeton Administrators, L. P. at (800) 543-6217.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, December 4, 2002 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on December 20, 2002, to shareholders of record on December 10, 2002.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, November 8, 2002 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income of $0.10625 per share, payable on November 29, 2002, to shareholders of record on November 14, 2002.

Western Asset Premier Bond Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, October 8, 2002 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income of $0.10625 per share, payable on October 31, 2002, to shareholders of record on October 18, 2002.

Western Asset Premier Bond Fund is a newly organized, diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, September 5, 2002 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income dividend of $0.10625 per share, payable on September 30, 2002, to shareholders of record on September 17, 2002.

Western Asset Premier Bond Fund is a newly organized, diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, August 8, 2002 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income of $0.10625 per share, payable on August 30, 2002, to shareholders of record on August 19, 2002.

Western Asset Premier Bond Fund is a newly organized, diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund Announces Dividend

Los Angeles, July 9, 2002 -- The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) announced today the declaration of a regular ordinary income of $0.10625 per share, payable on July 31, 2002, to shareholders of record on July 18, 2002. Going forward, it is the Fund's intention to declare monthly dividends in the first or second week of each month with a payment date of the last business day of the same month.

Western Asset Premier Bond Fund is a newly organized, diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund Announces First Dividend

Los Angeles, June 6, 2002 -- The Board of Trustees of Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) today declared the Trust's monthly dividend, payable on June 28, 2002, for shareholders of record as of June 17, 2002. The dividend for the Western Asset Premier Bond Fund appears below:

Western Asset Premier Bond Fund is a newly organized, diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at 866.290.4386.

Western Asset Premier Bond Fund Announces First Dividend

Los Angeles, May 8, 2002 -- The Board of Trustees of The Western Asset Premier Bond Fund (NYSE: WEA CUSIP: 957664105) today declared the Trust's first monthly dividend, payable on May 31, 2002, for shareholders of record as of May 20, 2002. The initial dividend for the Western Asset Premier Bond Fund appears below:

Western Asset Premier Bond Fund is a newly organized, diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. Its investment advisor is Western Asset Management Company, a subsidiary of Legg Mason, Inc.

For shareholder related questions, please contact EquiServe L.P. at (800) 426-5523.

*As of May 7,2002