For Immediate Release
Western Asset Inflation Management Fund Inc.
Announces Preliminary Results of Tender Offer
New York, NY, January 17, 2007 — Western Asset Inflation Management Fund Inc. (NYSE: IMF) (the “Fund”) announced
today that the Fund’s tender offer for 433,463 of its issued and outstanding shares of common stock, representing
approximately 5% of the Fund’s outstanding shares, expired on Wednesday, January 17, 2007 at 5:00 p.m., New York City time.
The tender offer is pursuant to a Settlement Agreement, dated as of February 13, 2006, between the Fund and Karpus
Management, Inc. (including certain affiliates thereof).
Based upon current information, approximately 5,308,896 shares were tendered, including shares tendered pursuant to
notices of guaranteed delivery. This number is subject to adjustment and should not be considered as final. Because the
number of shares tendered exceeds 433,463 shares, the tender offer has been oversubscribed. Therefore, in accordance with the
terms of the tender offer, the Fund will purchase shares on a pro rata basis for all tendering stockholders. Payment for such
shares will be made on or about January 25, 2007. The purchase price of properly tendered shares is __DOCTEXT__nbsp;17.08 per share (which is
98% of the net asset value per share determined as of the close of the regular trading session of the New York Stock Exchange
on January 17, 2007).
Western Asset Inflation Management Fund Inc. is a closed-end management investment company whose primary
objective is total return. Current income is a secondary objective. The Fund is traded on the New York Stock Exchange under
the trading symbol “IMF”. The Fund is advised by Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of
Legg Mason, Inc., and is sub-advised by Western Asset Management Company and Western Asset Management Company
Limited, affiliates of the Investment Advisor.
Periodically updated information on the Fund can be obtained by calling the Fund’s dedicated teleph