Western Asset Global Corporate Defined Opportunity Fund Inc. (“GDO”) Sets New Rate and Announces Distributions for the Months of September, October and November 2011

NEW YORK--()--Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE: GDO) today announced monthly distributions of $0.1275 per common share for September, October and November 2011. The Fund had previously paid a monthly distribution of $0.1300 per share since its initial distribution in January 2010 following its initial public offering in November 2009.

The distribution schedule appears below:

Month

     

Ex-Date

     

Record Date

     

Payable Date

     

Amount

     

Type

September 09/21/2011 09/23/2011 09/30/2011 $0.1275 Income
October 10/19/2011 10/21/2011 11/01/2011 $0.1275 Income
November 11/16/2011 11/18/2011 11/25/2011 $0.1275 Income
 

The Fund has decreased its distributions to a level that better approximates the current level of net investment income generated by its investment portfolio. As the Fund reinvests principal and income, it reinvests at lower levels as interest rates remain low.

This press release is not for tax reporting purposes but is being provided to announce the amount of the Fund’s distributions that have been declared by the Board of Directors. In early 2012, after definitive information is available, the Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder’s tax return (e.g., ordinary income, long-term capital gain or return of capital).

Western Asset Global Corporate Defined Opportunity Fund Inc. is a non-diversified, limited-term, closed-end management investment company that is managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Legg Mason, Inc. It is sub-advised by Western Asset Management Company (“WAMCo”) and certain of WAMCo’s foreign-based affiliates; WAMCo and its affiliates are also affiliates of the investment manager.

Contact the Fund at 1-888-777-0102 for additional information, or consult the Fund’s web site at www.leggmason.com/cef.

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.

Contacts

Legg Mason & Co. LLC
Brenda Grandell, 212-857-8087
Director, Closed-End Funds

Contacts

Legg Mason & Co. LLC
Brenda Grandell, 212-857-8087
Director, Closed-End Funds