Western Asset High Income Opportunity Fund Inc. (“HIO”) Sets New Rate and Announces Distributions for the Months of September, October and November 2013

Western Asset High Income Opportunity Fund Inc. (NYSE: HIO) announced today monthly distributions of $0.0375 per common share for September, October and November 2013. The Fund had previously paid a monthly distribution of $0.0390 per share.

The distribution schedule appears below:

The Fund has decreased its distributions to a level that better approximates the current level of net investment income generated by its investment portfolio. As the Fund reinvests principal and income, it reinvests at lower levels as yields remain at historic lows.

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 2014, 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 High Income Opportunity Fund Inc., a 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.lmcef.com.

Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Fund.