Western Asset Mortgage Defined Opportunity Fund Inc. Announces Conference Call

Western Asset Mortgage Defined Opportunity Fund Inc. (NYSE: DMO) announced today a conference call to update investors on the Fund’s performance and investment activities. The call will be held on Thursday, May 27, 2010 at 4:15 p.m. (Eastern Time). Ronald Mass, Head of Structured Products at Western Asset Management, will discuss the Fund’s investment portfolio and market outlook and will conclude with a question and answer session.

Investors can listen to this call by teleconference:

Dial-in information:

        
        
           
        
        
           
        
        
        
      
      
        
        
        
        
        
        
        
           
        
      
      
        
          Date:
        
        
        
        
        
        
          May 27, 2010
        
      
      
        
        
        
        
        
        
        
           
        
      
      
        
          Time:
        
        
        
        
        
        
          4:15 p.m. (Eastern Time)
        
      
      
        
        
        
        
        
        
        
           
        
      
      
        
          USA Toll Free Number:
        
        
        
        
        
        
          1-800-369-3358
        
      
      
        
        
        
        
        
        
        
           
        
      
      
        
          Pass code:
        
        
        
        
        
        
          Legg Mason
        
      
      
        
        
        
        
        
        
        
           
        
      
    
    

A replay of the call will be made available and instructions on how to access the replay will be provided at a future date by press release.

Western Asset Mortgage Defined Opportunity Fund’s primary investment objective is to provide current income and then to liquidate on or about March 1, 2022. As a secondary investment objective, the Fund will seek capital appreciation. There can be no assurance, however, that the Fund’s investment objectives will be achieved. An investment in the Fund entails a risk of loss and the Fund’s shares may decline in value.

The Fund seeks to achieve its investment objectives by investing primarily in a diverse portfolio of mortgage-backed securities (“MBS”), consisting primarily of non-agency residential mortgage-backed securities and commercial mortgage-backed securities. The Fund intends to invest in MBS directly, and indirectly through a separate investment in a public-private investment fund ("PPIF") formed in connection with the Legacy Securities Public-Private Investment Program ("PPIP") established by the U.S. Department of the Treasury. Under no circumstances will the Fund invest more than 40% of the net proceeds of its offering in the PPIF. DMO expands upon the existing closed-end fund offerings that encompass a range of taxable and tax-exempt investment objectives. Other funds in the Legg Mason-affiliated closed-end fund family include Western Asset Global High Income Fund Inc. (NYSE: EHI), Western Asset Emerging Markets Income Fund Inc. (NYSE: EMD), Western Asset Emerging Markets Debt Fund Inc. (NYSE: ESD), Western Asset Global Partners Income Fund Inc. (NYSE: GDF), Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE: GDO), Western Asset Variable Rate Strategic Fund Inc. (NYSE: GFY), Western Asset High Income Fund Inc. (NYSE: HIF), Western Asset High Income Opportunity Fund Inc. (NYSE: HIO), Western Asset High Income Fund II Inc. (NYSE: HIX), Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE: IGI), Western Asset Inflation Management Fund Inc. (NYSE: IMF), Western Asset Managed High Income Fund Inc. (NYSE: MHY), Western Asset Income Fund (NYSE: PAI), Western Asset Worldwide Income Fund Inc. (NYSE: SBW), and Western Asset Premier Bond Fund (NYSE: WEA).

Tax-exempt funds include Western Asset Intermediate Muni Fund Inc. (NYSE Amex: SBI), Western Asset Municipal High Income Fund Inc. (NYSE: MHF), Western Asset Managed Municipals Fund Inc. (NYSE: MMU), Western Asset Municipal Defined Opportunity Trust Inc. (NYSE: MTT) and Western Asset Municipal Partners Fund Inc. (NYSE: MNP).

Legg Mason Partners Fund Advisor, LLC (“LMPFA”) is the Fund's investment manager. Investment sub-advisory services are provided by Western Asset Management Company (“WAM”) and certain of its affiliates. LMPFA and WAM are both wholly-owned subsidiaries of Legg Mason, Inc.

Legg Mason is the 6th largest closed-end fund manager in the U.S., with over $8.0 billion in assets under management as of March 31, 2010.

For more information please call 1-888-777-0102 or consult the Funds’ web site at www.leggmason.com/cef.