Western Asset Inflation Management Fund Inc. Announces Results of Annual Meeting of Stockholders: Proposal to Liquidate and Dissolve the Fund is Approved

Western Asset Inflation Management Fund Inc. (the “Fund”) (NYSE:IMF) announced today the results of the votes cast at the annual meeting of stockholders held on April 25, 2014.

Stockholders voted to approve the liquidation and dissolution of the Fund pursuant to the Plan of Liquidation and Dissolution adopted by the Board of Directors of the Fund (Proposal 2).

It is expected that the effective date of the liquidation will be May 30, 2014 and the transfer agent will close the books of the Fund on that date (the “Liquidation Date”). The proportionate interests of stockholders in the assets of the Fund will be fixed on the basis of their respective holdings at the close of business on the Liquidation Date. It is expected that prior to the opening of business on June 2, 2014, the Fund will cease trading on the New York Stock Exchange. The Fund will then liquidate and distribute its remaining net assets on or about Monday, June 2, 2014.

Prior to the Liquidation Date, in preparation for the liquidation of the Fund, at the discretion of the Fund’s portfolio management, the assets of the Fund will be liquidated and the Fund will cease to pursue its investment objective.

In addition, Eileen A. Kamerick, Dr. Riordan Roett and Jeswald W. Salacuse were elected as Class III Directors of the Fund by holders of its common stock to hold office until the annual meeting of stockholders in the year 2017 or thereafter when their respective successors are duly elected and qualified or until they resign or are otherwise removed. Kenneth D. Fuller was elected as a Class II Director of the Fund by holders of its common stock to hold office until the annual meeting of stockholders in the year 2016 or until his successor has been duly elected and qualified or until he resigns or is otherwise removed (Proposal 1).

Western Asset Inflation Management Fund Inc. is a non-diversified, closed-end management investment company managed by Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc. (“Legg Mason”), and is subadvised by Western Asset Management Company, an affiliate of the investment adviser.

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.