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The distribution schedule appears below:
Month Ex-Date Record Date Payable Date Amount Type March 03/18/2009 03/20/2009 03/27/2009 $0.0500 Income April 04/15/2009 04/17/2009 04/24/2009 $0.0500 Income May 05/20/2009 05/22/2009 05/29/2009 $0.0500 Income
In declaring the new rate, the Fund cited that headline inflation in the U.S., as measured by the Consumer Price Index for All Urban Consumers (CPI-U), decreased significantly from 4.1% at the end of December 2007 to 0.1% at the end of December 2008 year over year. The prior year's inflation increase was driven by the run up in commodities which have since shed most of their gains in the latter-half of 2008. During 2009 CPI-U is expected to be negative on a year-over-year basis for several months and it appears as though the long-term prospects for inflation remain contained. Should inflation continue to decrease, the U.S. TIPS in which the Fund invests would suffer in the short-run from lower inflation accretion which, in turn, may result in a further decrease in income from the investment portfolio.
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 2010, 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 respective 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 Inflation Management 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.
SOURCE: Western Asset Inflation Management Fund Inc.
Legg Mason & Co., LLC Brenda Grandell, 212-857-8087 Director, Closed End Funds
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