Western Asset Variable Rate Strategic Fund Inc. (“GFY”) Announces Distribution for the Month of February 2010

NEW YORK--(BUSINESS WIRE)--Western Asset Variable Rate Strategic Fund Inc., which is listed on the New York Stock Exchange under the symbol “GFY”, announced today a monthly distribution of $0.0560 per common share for February 2010. The distribution amount is unchanged from the prior month.

The distribution schedule appears below:

Month	Ex-Date	Record Date	Payable Date	Amount		Type
February	02/17/2010	02/19/2010	02/26/2010	$	0.0560	Income

This press release is not for tax reporting purposes but is being provided to announce the amount of the Fund's distributions that have been declared by the Board of Directors. In early 2011, 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 prior calendar year 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 Variable Rate Strategic Fund Inc., a non-diversified, closed-end management investment company, is managed 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 investment manager.

Contact the Fund at 1-888-777-0102 for additional information, or consult the Fund’s web site 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.