Western Asset Variable Strategic Rate Fund Inc. Announces Liquidating Distribution

Western Asset Variable Rate Strategic Fund Inc. (the “Fund”) (NYSE: GFY) announced today that the Fund liquidated as planned on November 20, 2020 and the proportionate interests of stockholders in the assets of the Fund were determined as of that date. The Fund’s liquidating distribution of $16.3200 per share is anticipated to be paid on or about November 30, 2020. Prior to the opening of business on November 23, 2020, the Fund will cease trading on the New York Stock Exchange.

Western Asset Variable Rate Strategic Fund Inc. is a non-diversified, closed-end management investment company that is advised by Legg Mason Partners Fund Advisor, LLC (“LMPFA”), an indirect wholly-owned subsidiary of Franklin Resources, Inc. (“Franklin Resources”), and is sub-advised by Western Asset Management Company, LLC, Western Asset Management Company Limited and Western Asset Management Company Pte. Ltd., affiliates of LMPFA and indirect wholly-owned subsidiaries of Franklin Resources.

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. Franklin Resources and its affiliates do not engage in selling shares of the Fund.

Category: Fund Announcement

Source: Franklin Templeton

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Media Contact: Fund Investor Services-1-888-777-0102