Fund Description: Western Asset Municipal Partners Fund, formerly the Salomon Brothers Municipal Partners Fund, is a diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The fund's primary investment objective is to seek a high level of current income exempt from federal income taxes, consistent with the preservation of capital. The Fund's secondary investment objective is to enhance portfolio value by purchasing tax exempt securities that, in the opinion of its investment adviser, may appreciate in value relative to other similar obligations in the marketplace. FUND MANAGEMENT: Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc. (NYSE: LM), is the Fund's investment manager, and provides administrative and management services to the Fund. Western Asset Management Company, an affiliate of the adviser, is the Fund's subadviser and is responsible for the day-to-day portfolio management of the Fund.