EMDa Western Asset Emerging Markets Income Fund

Western Asset Emerging Markets Income Fund Inc., Western Asset Worldwide Income Fund Inc., Western Asset Emerging Markets Debt Fund Inc. Stockholders Approve Mergers and Investment Objective Change at Special Shareholder Meeting

Western Asset Emerging Markets Income Fund Inc. (NYSE:EMD), Western Asset Worldwide Income Fund Inc. (NYSE:SBW) and Western Asset Emerging Markets Debt Fund Inc. (NYSE:ESD) announced today the results of the votes cast at the joint special meeting of stockholders of EMD, SBW and ESD held on December 12, 2016.

Stockholders of both EMD and ESD voted to approve the merger of EMD with and into ESD, and stockholders of SBW and ESD voted to approve the merger of SBW with and into ESD. The mergers are expected to be effective prior to the opening of business on December 19, 2016.

Upon completion of the mergers, each share of common stock of EMD and SBW will convert into an equivalent dollar amount (to the nearest $0.0001) of full shares of common stock of ESD, based on the net asset value of each Fund on the date of the applicable merger. ESD will not issue fractional shares to EMD and SBW stockholders. In lieu of issuing fractional shares, ESD will pay cash to each former holder of EMD and SBW common stock in an amount equal to the net asset value of the fractional shares of ESD Fund common stock that the investor would otherwise have received in the merger.

Additionally, stockholders of ESD voted to approve the amendment of ESD’s primary investment objective to high current income and its secondary investment objective to capital appreciation. This change is not expected to have a material impact on ESD’s investments.

Effective with the mergers, ESD will change its NYSE ticker symbol from ESD to the ticker symbol EMD. The merged fund is anticipated to begin trading under the EMD ticker symbol on December 19, 2016.

EMD, SBW and ESD are non-diversified closed-end management investment companies managed by Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc., and sub-advised by Western Asset Management Company, which is also a subsidiary of Legg Mason, Inc.

Contact each Fund at 1-888-777-0102 for additional information, or consult each Fund's web site at www.lmcef.com. Hard copies of each fund’s complete audited financial statements are available free of charge upon request.

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.

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.

EN
13/12/2016

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