Morningstar® Investment Profile™ | Disclosure Statement Morningstar - Free Trial   Legg Mason WA Interm Maturity CA Muni I  SICYX   Snapshot Total Returns Rating & Risk Portfolio Nuts & Bolts Analyst Report Quote datadef_ratings Legg Mason WA Interm Maturity CA Muni I  SICYX   Morningstar Report Overall Morningstar Rating™ What is this? As of 2009-10-31 Out of Muni California Int/Sh 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    4.45 Yrs    Avg Credit Quality    AA As of 2009-09-30 Day Change $ 0.01    NAV (2009-11-20) $ 8.69    YTD Return % (2009-11-20) 10.73%    Total Assets ($ mil) 148 View Data Definitions   Performance     Growth of $10,000 Fund: Legg Mason WA Interm Maturity CA Muni I (from 1999-01-01 to 2009-10-31) Category: Muni California Int/Sh Index: BarCap Municipal TR USD Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-20 Inception date: 1995-09-08 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 10.73 8.10 3.59 3.61 4.41 4.53 +/- Category 1.15 -1.11 0.84 0.76 0.22 --- +/- BarCap Municipal TR USD -1.41 -3.57 -0.66 -0.75 --- --- Standardized Annual Returns %   more on standardized returns Quarter-End (as of 2009-09-30) 12.54 9.58 4.33 4.03 4.57 4.72 Month-End (as of 2009-10-31) 10.09 7.70 3.38 3.46 4.41 4.53 After Tax Returns % (as of 2009-09-30 )   On Distribution --- 7.70 3.38 3.46 4.41 --- On Distribution & Sale of Shares --- 6.45 3.46 3.52 4.38 --- Morningstar Rating --- --- --- # of compared funds covered (3 yrs : out of 77 funds), (5 yrs : out of 69 funds), (10 yrs : out of 37 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 % General Obligations 6.46 Advance Refunded 3.36 State Appropriated Tobacco --- Non-state Appropriated Tobacco --- Education 2.72 Health --- Housing --- Industrial 8.15 Transportation 8.51 Utilities 1.50 Water/Sewer 3.26 Misc. Revenue 66.03 Bond Quality % of Bonds AAA 27.8 AA 39.7 A 25.6 BBB 6.9 BB 0.0 B 0.0 Below B 0.0 Not Rated 0.0   Asset Allocation % of Net Assets Cash 0.0 Stocks 0.0 Bonds 100.0 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 Turnover % 23 Total Number of Bond Holdings 65 30 Day SEC Yield % 3.50 % of Assets in Top 10 Holdings 34.26 ending as of 2009-09-30 View Data Definitions Top 10 Holdings Maturity Date Amount $000 Value $000 % of Net Assets San Diego Calif Pub Facs Fing Sewer 5% 2020-05-15 5,000 5,722 4.11 California Statewide Cmntys De Rev 6.25% 2024-08-01 5,000 5,675 4.07 M-S-R Engy Auth 6.125% 2029-11-01 5,000 5,578 4.00 Los Angeles Calif Convention & Lease 5% 2020-08-15 5,000 5,316 3.81 San Francisco Calif City & Cnt Airp 6.5% 2019-05-01 5,000 5,094 3.66 California Health Facs Fing Au Re 5.125% 2022-07-01 4,500 4,659 3.34 California St G O Bds 5.5% 2021-08-01 4,000 4,486 3.22 Livermore Calif Redev Agy Tax Tax 5.25% 2015-08-01 3,675 3,764 2.70 Los Angeles Calif Dept Arpts A Rev 5.5% 2019-05-15 3,500 3,755 2.69 Puerto Rico Comwlth Aqueduct & Rev Bd 5% 2028-07-01 3,500 3,711 2.66 Data through 2009-09-30   Other Information Fund Inception: 1995-09-08 Portfolio Manager  (Start Date) Joseph P. Deane  (1991-12-31) Deane is portfolio manger with Western Asset. Prior to joining the firm in 2005, he was with Citigroup Asset Management or one of its affiliates since 1972. Robert E. Amodeo  (2006-10-30) Amodeo is portfolio manger with Western Asset. Prior to joining the firm in 2005, he was a managing director and portfolio manger with Salomon Brothers Asset Management Inc. from 1992 to 2005. Amodeo holds the Chartered Financial Analyst designation. Kenneth S. Leech  (2006-10-30) 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  (2006-10-30) 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 David T. Fare  (2007-03-30) Fare is portfolio manger with Western Asset. Prior to joining the firm in 2005, he was with Citigroup Asset Management or one of its affiliates since 1989. Sales Charge % (taken from prospectus dated 2009-03-30) Front: None Deferred: None Expense Ratio % 0.52 based on net assets (taken from annual report dated 2008-11-30) Correspondence Information Legg Mason & Co., LLC 55 Water Street, 32nd Floor New York,  NY  10004 USA Telephone: 800-451-2010 787-759-8333 Data on this page does not include the fund's short positions (if any). Show Data Definitions © Copyright 2009 Morningstar, Inc. All rights reserved. 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