Western Asset Global Corporate Defined Opportunity Fund Inc. (“GDO”) Sets New Rate and Announces Distributions for the Months of December 2012, January and February 2013

NEW YORK--(BUSINESS WIRE)--Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE: GDO) today announced monthly distributions of $0.1200 per common share for December 2012, January and February 2013. The December distribution of $0.1200 per common share is comprised of $0.0422 of income, $0.0015 of short-term capital gain and $0.0763 of long-term capital gain. The Fund had previously paid a monthly distribution of $0.1250 per share.

The distribution schedule appears below:

Month	Ex-Date	Record Date	Payable Date	Amount	Type
December	12/12/2012	12/14/2012	12/21/2012	$0.0422	Income
December	12/12/2012	12/14/2012	12/21/2012	$0.0015	Short-Term Capital Gain
December	12/12/2012	12/14/2012	12/21/2012	$0.0763	Long-Term Capital Gain
January	01/16/2013	01/18/2013	01/25/2013	$0.1200	Income
February	02/13/2013	02/15/2013	02/22/2013	$0.1200	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 yields remain at historic lows.

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 2013 and early 2014, 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.lmcef.com.

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.