Investment Objective: The Fund seeks to maximize current income exempt from federal income tax as is consistent with preservation of principal.
Variable Rate Demand Notes
Top Ten Municipal Sectors
|Water & Sewer||8.8||%|
|Special Tax Obligation||7.7||%|
|Pre refunded / Escrowed to Maturity||4.5||%|
Credit Quality Allocation**
Average Life (years)
Effective Duration (years)
Average Coupon (%)
Subject to AMT (%)
|(Daily NAV is available on market quotation systems using the symbol XMMUX.)|
|Monthly (Declared quarterly, paid monthly)|
* Portfolio holdings and weightings are historical and are presented here for informational purposes only. They are subject to change at any time.
** Credit quality is a measure of a bond issuer's ability to repay interest and principal in a timely manner. The credit ratings shown are based on each portfolio securityís rating as provided by Standard and Poorís, Moodyís Investors Service and/or
*** The difference between total assets and net assets, if any, is due primarily to the Fundís use of preferred shares; net assets do not include preferred shares. The Fund may employ leverage in the form of preferred stock and/or other instruments. When the Fund engages in transactions that have a leveraging effect on the Fundís portfolio, the value of the Fund will be more volatile and all other risks will tend to be compounded.
**** Percentages based on total assets.
An investment in the Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate. Fixed income securities are subject to credit risk, inflation risk, call risk, and interest rate risks. As interest rates rise, bond prices fall, reducing the value of the Fund's share price. Certain investors may be subject to the alternative minimum tax (AMT). State and local taxes may apply.
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.
For more information, please call Fund Investor Relations at 888-777-0102 or consult the Fundís web site at www.leggmason.com/cef.
Fund Investor Relations, 888-777-0102