Western Asset Income Fund Announces Financial Position as of September 30, 2009

NEW YORK--(BUSINESS WIRE)--Western Asset Income Fund, which is listed on the New York Stock Exchange under the symbol “PAI,” today announced the financial position of the Fund as of September 30, 2009.

	Current Q	Previous Q	Prior Yr Q
	September 30, 2009	June 30, 2009	September 30, 2008
Total Net Assets	$122,071,681	$111,761,958	$113,823,475
NAV Per Share of Common Stock (a)	$12.95	$11.86	$12.12
Market Price Per Share	$13.45	$11.75	$10.29
Premium / Discount	3.86%	-0.93%	-15.10%
Outstanding Shares	9,429,567	9,419,636	9,389,431
Total Net Investment Income (b)	$1,876,623	$1,841,505	$2,361,771
Total Net Investment Income Per Share (b)	$0.20	$0.20	$0.25
Total Net Realized/Unrealized
Gain/(Loss) (b)	$10,567,307	$17,736,883	($19,552,413)
Total Net Realized/Unrealized
Gain/(Loss) Per Share (b)	$1.12	$1.88	($2.08)
Undistributed/(Overdistributed) Net Investment
Income (c)	$23,160	$407,649	$1,142,705
Undistributed/(Overdistributed) Net Investment
Income Per Share (c)	$0.002	$0.043	$0.122

Footnotes:

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

(b) For the quarter and period indicated.

(c) As of the period 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.

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 the Fund at 1-888-777-0102 for additional information, or consult the Fund’s website at www.leggmason.com/cef.

All data and commentary provided within this press release is for informational purposes only. Legg Mason, Inc. and all of its affiliates do not engage in selling any of the shares of the Fund. The Fund's common shares are traded on the New York Stock Exchange.