Western Asset Premier Bond Fund shareholders of WEA elected Robert Abeles, Jr. as a new Trustee of WEA, effective May 22, 2013. The Board of WEA has appointed Kenneth D. Fuller as a new Trustee of WEA, effective May 22, 2013. Additionally, the Board of each Fund has appointed Mr. Kenneth D. Fuller as the Chief Executive Officer and President of each Fund.

Mr. Abeles is Senior Vice President, Finance and Chief Financial Officer of University of Southern California (since 2009); formerly, Director of Hanmi Financial Corporation and Hanmi Bank (2008-2009). Mr. Fuller is a Managing Director of Legg Mason & Co., LLC (since 2013); Officer and/or Director/Trustee of 162 funds associated with Legg Mason Partners Fund Advisor, LLC (since 2013); President and Chief Executive Officer of LM Asset Services, LLC (formerly a registered investment adviser) (since 2013); formerly, Senior Vice President of LMPFA (since 2012); formerly, Director of Legg Mason & Co. (2012 to 2013); formerly, Vice President of Legg Mason & Co.

(2009 to 2012); formerly, Vice President of T. Rowe Price Associates (1993 to 2009), as well as Investment Analyst and Portfolio Manager for certain asset allocation accounts (2004 to 2009). Effective June 1, 2013, Mr. Fuller will become President and Chief Executive Officer of LMPFA.