Fund Description: Western Asset Intermediate Muni Fund, formerly the Intermediate Municipal Fund, Inc. is a diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The Fund seeks as high a level of current income exempt from federal income tax as is consistent with prudent investing. FUND STRATEGY: Under normal market conditions, the fund invests at least two-thirds of its total assets in municipal securities that are rated A or better by Standard & Poor's or Moody's, or have an equivalent rating by any nationally recognized rating organization (or, in the opinion of the manager applying standards established by the directors, of comparable quality to those so rated) at the time of investment. Only investment grade securities (BBB or higher) are considered. The fund's policy is to invest at least 80% of total assets in municipal securities with remaining maturities of less than 15 years and to maintain a dollar-weighted average maturity of the entire portfolio of not less than three but not more than 10 years. 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.