Morningstar® Investment Profile™ | Disclosure Statement Morningstar - Free Trial   Western Asset Emerging Markets Debt I  SEMDX   Snapshot Total Returns Rating & Risk Portfolio Nuts & Bolts Analyst Report Quote datadef_ratings Western Asset Emerging Markets Debt I  SEMDX   Morningstar Report Overall Morningstar Rating™ What is this? As of 2009-10-31 Out of Emerging Markets Bond Funds Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance. Morningstar® Style Box™ What is this?    Avg Duration    6.80 Yrs    Avg Credit Quality    BBB As of 2009-09-30 Day Change $ 0.00    NAV (2009-11-20) $ 5.08    YTD Return % (2009-11-20) 43.50%    Total Assets ($ mil) 16 View Data Definitions   Performance     Growth of $10,000 Fund: Western Asset Emerging Markets Debt I (from 1999-01-01 to 2009-10-31) Category: Emerging Markets Bond Index: BarCap US Agg Bond TR USD Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-20 Inception date: 1996-10-17 10yr and Inception Returns as of 2009-10-31 YTD Returns as of 2009-11-20 YTD 1 Year 3 Year 5 Year 10 Year Since Inception Fund 43.50 58.04 8.16 9.53 13.62 11.75 +/- Category 13.22 17.38 2.56 1.71 1.95 --- +/- BarCap US Agg Bond TR USD 36.59 45.55 1.71 4.26 --- --- Standardized Annual Returns %   more on standardized returns Quarter-End (as of 2009-09-30) 40.40 23.34 8.10 9.80 14.01 11.78 Month-End (as of 2009-10-31) 41.24 54.22 7.81 9.50 13.62 11.75 After Tax Returns % (as of 2009-09-30 )   On Distribution --- 50.24 2.70 4.72 8.62 --- On Distribution & Sale of Shares --- 34.41 3.63 5.39 8.84 --- Morningstar Rating --- --- --- # of compared funds covered (3 yrs : out of 72 funds), (5 yrs : out of 52 funds), (10 yrs : out of 40 funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is none, the maximum deferred sales fee is none, and the maximum redemption sales fee is none. The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.   Portfolio Profile     Sector Breakdown % US Government US Treasuries --- TIPS --- US Agency --- Mortgage Mortgage Pass-Thru --- Mortgage CMO --- Mortgage ARM --- Credit US Corporate --- Asset-Backed --- Convertible --- Municipal --- Corporate Inflation-Protected --- Foreign Foreign Corp --- Foreign Govt --- Cash --- Bond Quality % of Bonds AAA 0.0 AA 0.0 A 7.9 BBB 50.0 BB 37.1 B 4.0 Below B 1.0 Not Rated 0.0   Asset Allocation % of Net Assets Cash 5.6 Stocks 0.0 Bonds 94.4 Other 0.0 Foreign Stocks 0.0 (as a % of Assets) Data through 2009-09-30 Data through 2009-09-30 Holding Status Total Number of Stock Holdings 2 Turnover % 35 Total Number of Bond Holdings 64 30 Day SEC Yield % 6.37 % of Assets in Top 10 Holdings 45.20 ending as of 2009-09-30 View Data Definitions Top 10 Holdings Maturity Date Amount $000 Value $000 % of Net Assets Russian Federation 7.5% 2030-03-31 1,140 1,248 8.26 Republic Of Turkey 6.875% 2036-03-17 1,125 1,131 7.48 REPUBLIC OF VENEZUELA 2016-02-26 1,208 894 5.91 Pemex Proj Fdg Master Tr 6.625% 2035-06-15 853 825 5.46 Petronas Cap 144A 5.25% 2019-08-12 590 601 3.98 Brazil(Fed Rep Of) 10% 2012-01-01 988 543 3.59 Vale Overseas 6.875% 2036-11-21 500 519 3.43 True Move 10.75% 2013-12-16 400 386 2.55 Rshb Captl Russ Ag Bk Ser Regs Confidential 7.125pct 14jan14 2014-01-14 330 344 2.27 Kazmunaigaz Fin Sub Bv Gtd G 144A 8.375% 2013-07-02 320 342 2.27 Data through 2009-09-30   Other Information Fund Inception: 1996-10-17 Portfolio Manager  (Start Date) Matthew C. Duda  (2006-03-31) Duda has been employed as a portfolio manager for the past five years with Salomon Brothers and its affiliates. Prior to joining Western Asset in 2001, Duda was a vice president and investment strategist at Credit Suisse-First Boston Corporation from 1997 to 2001. Keith J. Gardner  (2006-03-31) Gardner has served as a portfolio manager at Western Asset since November 1994. Previously, he spent seven years as a portfolio manager and trader at T. Rowe Price Associates, and three years as a financial analyst at Salomon Brothers.He has over 25 years of investment experience. Kenneth S. Leech  (2006-03-31) Leech transitioned into a CIO Emeritus role in September 2008 and joined Western Asset as Chief Investment Officer in 1990. Prior to joining Western in 1990, he was a portfolio manager with Greenwich Capital Markets from 1988 to 1990; the First Boston Corporation from 1980 to 1988; and the National Bank of Detroit from 1977 to 1980.He has over 32 years of investment experience. Stephen A. Walsh  (2006-03-31) Walsh is a chief investment officer of Western Asset Management Company since September 2008. Prior to joining Western in 1990, he was a portfolio manager at Security Pacific Investment Managers from 1989 to 1991. Prior to that, Walsh was a portfolio manager at Atlantic Richfield Company from 1981 to 1988.He has over 27 years of investment experience Michael C. Buchanan  (2007-05-17) Michael Buchanan, Managing Director, is head of US credit products, a senior member of the Core Fixed Income team and a member of the Global Credit Committee. He joined in 2003 from Janus Capital Management, where he was an Executive Vice President and managed high yield portfolios. Previously, he was a Managing Director at BlackRock Financial Management, where he was a senior high yield portfolio manager and a member of the firm’s investment strategy group; and a Vice President at Conseco Capital Management, where he managed high yield portfolios and was responsible for the trading of high yield debt, bank loans and emerging market debt. Mr. Buchanan holds a BA in business economics and organizational behavior/management from Brown University. He is a CFA charterholder. Sales Charge % (taken from prospectus dated 2009-08-31) Front: None Deferred: None Expense Ratio % 0.75 based on net assets (taken from annual report dated 2009-02-28) Correspondence Information Legg Mason & Co., LLC 55 Water Street, 32nd Floor New York,  NY  10004 USA Telephone: 888-425-6432 Data on this page does not include the fund's short positions (if any). Show Data Definitions © Copyright 2009 Morningstar, Inc. All rights reserved. Morningstar, the Morningstar logo, Morningstar.com, Morningstar Tools are either trademark or service marks of Morningstar, Inc. Past performance is no guarantee of future results. Returns will vary and shares may be worth more or less than their original cost when sold.