<SEC-DOCUMENT>0001193125-23-251666.txt : 20240205
<SEC-HEADER>0001193125-23-251666.hdr.sgml : 20240205
<ACCEPTANCE-DATETIME>20231005171526
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-23-251666
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20231005

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Clarion Partners Real Estate Income Fund Inc.
		CENTRAL INDEX KEY:			0001762562
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		620 8TH AVENUE
		STREET 2:		47TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		8887770102

	MAIL ADDRESS:	
		STREET 1:		620 8TH AVENUE
		STREET 2:		47TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEGG MASON PARTNERS INSTITUTIONAL TRUST
		CENTRAL INDEX KEY:			0000889512
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		LEGG MASON & CO., LLC
		STREET 2:		620 EIGHTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		1-877-721-1926

	MAIL ADDRESS:	
		STREET 1:		LEGG MASON & CO., LLC
		STREET 2:		620 EIGHTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CITIFUNDS INSTITUTIONAL TRUST
		DATE OF NAME CHANGE:	19981030

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEGG MASON PARTNERS VARIABLE EQUITY TRUST
		CENTRAL INDEX KEY:			0001176343
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		LEGG MASON & CO., LLC
		STREET 2:		620 EIGHTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		1-877-721-1926

	MAIL ADDRESS:	
		STREET 1:		LEGG MASON & CO., LLC
		STREET 2:		620 EIGHTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Legg Mason Partners Variable Portfolios IV
		DATE OF NAME CHANGE:	20060501

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SMITH BARNEY MULTIPLE DISCIPLINE TRUST
		DATE OF NAME CHANGE:	20021004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SMITH BARNEY MULTIPLE DISCIPLINE ACCOUNT TRUST
		DATE OF NAME CHANGE:	20020626

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEGG MASON PARTNERS INCOME TRUST
		CENTRAL INDEX KEY:			0000764624
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		LEGG MASON & CO., LLC
		STREET 2:		620 EIGHTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		1-877-721-1926

	MAIL ADDRESS:	
		STREET 1:		LEGG MASON & CO., LLC
		STREET 2:		620 EIGHTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEGG MASON PARTNERS INCOME FUNDS
		DATE OF NAME CHANGE:	20060407

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SMITH BARNEY INCOME FUNDS
		DATE OF NAME CHANGE:	19941228

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SMITH BARNEY SHEARSON INCOME FUNDS
		DATE OF NAME CHANGE:	19931015

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WESTERN ASSET HIGH INCOME FUND II INC.
		CENTRAL INDEX KEY:			0001058239
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		620 EIGHTH AVENUE
		STREET 2:		47TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		8887770102

	MAIL ADDRESS:	
		STREET 1:		620 EIGHTH AVENUE
		STREET 2:		47TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SALOMON BROTHERS HIGH INCOME FUND II INC
		DATE OF NAME CHANGE:	19980421

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SALOMON BROTHERS HIGH YIELD BOND FUND IN
		DATE OF NAME CHANGE:	19980319
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>Multi-Registrant</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Morgan, Lewis&nbsp;&amp; Bockius LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">One Federal Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Boston, MA
02110 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">October 5, 2023 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">VIA EDGAR </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Investment
Management </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, DC 20549 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Christina DiAngelo Fettig </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">Re:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>The Registrants (the &#147;Registrants&#148;) and Funds (the &#147;Funds&#148;) Listed in Annex A</U>
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ms.&nbsp;Fettig: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of the
Registrants,<SUP STYLE="font-size:75%; vertical-align:top">1</SUP> we are filing this letter to respond to the comments you delivered by telephone on August&nbsp;10, 2023 on behalf of the Staff (the &#147;Staff&#148;) of the Securities and Exchange
Commission after the Staff&#146;s review of certain filings made by the Funds, in each case with respect to the fiscal year listed beside the name of the applicable Fund in Annex A hereto. For convenience of reference, summaries of the comments of
the Staff have been included herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. <U>Comment</U> (Western Asset High Income Fund II): With regard to the amended Form <FONT
STYLE="white-space:nowrap">N-CSR</FONT> filed on July&nbsp;10, 2023, please note that Rule <FONT STYLE="white-space:nowrap">8b-15</FONT><SUP STYLE="font-size:75%; vertical-align:top">2</SUP> states that an amendment to any report required to include
the certifications specified in Rule <FONT STYLE="white-space:nowrap">30a-2(a)</FONT> must include new certifications by each principal executive officer and principal financial officer of the registrant. In future filings, please include new
certifications with any such amendments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant advises the Staff that the Fund will include new certificates in
amended Form <FONT STYLE="white-space:nowrap">N-CRS</FONT> filings in the future. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. <U>Comment</U> (Western Asset Premier Institutional U.S. Treasury
Reserves, Western Asset Premier Institutional Government Reserves, and Western Asset Premier Institutional Liquid Reserves): Rule <FONT STYLE="white-space:nowrap">2a-7(c)(2)(v)</FONT> states that a money market fund that owns shares of another money
market fund may not impose liquidity fees. Please explain whether the Funds&#146; current disclosure is consistent with that rule. </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:75%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">When used in the responses below, term &#147;Fund&#148; refers to the applicable Fund and the term
&#147;Registrant&#148; refers to the applicable Registrant listed beside the name of such Fund in Annex A. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:75%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Any reference to a &#147;Section&#148; or a &#147;Rule&#148; relates, as applicable, to a section of the
Investment Company Act of 1940, as amended, or to a rule thereunder. </P></TD></TR></TABLE>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant notes that the Funds&#146; filings have general disclosure
stating that references to a Fund include the underlying master fund, but the Registrant acknowledges that more specific disclosure may add greater clarity. Each Fund&#146;s disclosure relating to the Fund&#146;s compliance with Rule <FONT
STYLE="white-space:nowrap">2a-7,</FONT> including the use of liquidity fees, will be updated in future filings in light of the recent amendments to Rule <FONT STYLE="white-space:nowrap">2a-7.</FONT> More specifically, disclosure will be added to
clarify that a feeder fund will pass through on the same terms any liquidity fee from its master fund and may not otherwise charge a liquidity fee while operating as a feeder fund. In addition, the Registrant supplementally confirms no liquidity fee
has been charged, or will be charged, by a feeder fund, except that it will pass through to its investors the same terms of any liquidity fee imposed by the applicable master fund. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. <U>Comment</U> (Western Asset Premier Institutional U.S. Treasury Reserves, Western Asset Premier Institutional Government Reserves, and Western Asset
Premier Institutional Liquid Reserves): Rule <FONT STYLE="white-space:nowrap">2a-7(h)(10)(iv)</FONT> requires that a money market fund post prominently on its website a link to the fund&#146;s most recent Form
<FONT STYLE="white-space:nowrap">N-MFP</FONT> filing. Please explain whether the Funds&#146; website disclosure is consistent with the requirements of the rule. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant confirms that the Funds&#146; website disclosure has been updated consistent with the
Staff&#146;s comment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. <U>Comment</U> (each series of Legg Mason Partners Variable Equity Trust): With regard to the Registrant&#146;s filing on Form <FONT
STYLE="white-space:nowrap">N-CEN:</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">i. Please explain why the Registrant did not check the box in Item C.3.i to indicate that the
Funds are underlying funds to variable annuity or variable life insurance contracts. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant
respectfully acknowledges that the above mentioned disclosure was inadvertently omitted and advises the Staff that it will so indicate in future Form <FONT STYLE="white-space:nowrap">N-CEN</FONT> filings. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">ii. Please explain why the Registrant did not check the box in Item C.8.c to indicate that waived fees are subject to recoupment. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant respectfully acknowledges that the above mentioned disclosure was inadvertently omitted and
advises the Staff that it will so indicate in future Form <FONT STYLE="white-space:nowrap">N-CEN</FONT> filings. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5. <U>Comment</U> (Western Asset SMASh
Series TF Fund): With regard to the Registrant&#146;s filing on Form <FONT STYLE="white-space:nowrap">N-CEN:</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">i. In light of the
Fund&#146;s investments in tender option bond floating rate notes, please explain why the Registrant did not check the boxes in Items C.7.n.iii or iv to indicate that the fund entered into reverse repurchase agreement or similar financing
transactions under Rule <FONT STYLE="white-space:nowrap">18f-4(d)(1)(i)</FONT> or (ii). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant
respectfully acknowledges that the above mentioned disclosure was inadvertently omitted and advises the Staff that it will so indicate in future Form <FONT STYLE="white-space:nowrap">N-CEN</FONT> filings as appropriate. </P>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">ii. In light of the Fund&#146;s investments in TBA securities, please explain why the Registrant
did not check the box in Items C.7.n.vi to indicate that the fund invested in securities on a when-issued or forward-settling basis, or with a <FONT STYLE="white-space:nowrap">non-standard</FONT> settlement cycle in reliance on Rule <FONT
STYLE="white-space:nowrap">18f-4(f).</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: Item C.7 requests disclosure of the Fund&#146;s reliance on
certain statutory exemptions and rules &#147;during the reporting period.&#148; The Registrant respectfully notes that the Fund did not make investments in TBA securities during the relevant reporting period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">6. <U>Comment</U> (each series of Legg Mason Partners Variable Equity Trust): With regard to the Registrant&#146;s filing on Form <FONT
STYLE="white-space:nowrap">N-CEN,</FONT> please explain why Item C.9.c is not checked to indicate that Western Asset is a subadviser of the Funds. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant advises the Staff that it did not previously identify Western Asset as a subadviser to the Funds because no
assets had been allocated to Western Asset. However, the Registrant advises the Staff that it intends to change this practice, and will identify Western Asset as a subadviser to the Funds in future Form <FONT STYLE="white-space:nowrap">N-CEN</FONT>
filings, whether or not it has been allocated assets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7. <U>Comment</U> (Clarion Partners Real Estate Income Fund Inc.): With regard to the
Registrant&#146;s filing on Form <FONT STYLE="white-space:nowrap">N-CEN,</FONT> please explain why Item B.23 is not checked to indicate that the Registrant paid a dividend or made a distribution in the nature of a dividend payment that was required
to be accompanied by a written statement pursuant to Section&nbsp;19(a) of the Act and Rule <FONT STYLE="white-space:nowrap">19a-1</FONT> thereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant confirms that it did not make any distributions during the fiscal year that required it to issue a notice
under Section&nbsp;19(a) (a &#147;19(a) Notice&#148;). The Registrant evaluates distributions on a book basis for purposes of determining whether a portion of the payment is derived from a source that requires the issuance of a 19(a) Notice. On a
book basis, none of the Fund&#146;s distributions during the fiscal year required a 19(a) Notice. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8. <U>Comment</U> (Clarion Partners Real Estate Income
Fund Inc.): Noting that the Fund&#146;s website contains <FONT STYLE="white-space:nowrap">year-end</FONT> Section&nbsp;19(a) notices, please confirm that the Fund is estimating the nature of distributions throughout the year that would, if
applicable, result in Section&nbsp;19(a) notices during the year as opposed to only at <FONT STYLE="white-space:nowrap">year-end.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant confirms that the Fund is estimating the nature of distributions throughout the year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9. <U>Comment</U> (Clarion Partners Real Estate Income Fund Inc.): Please explain whether the investments in
<FONT STYLE="white-space:nowrap">non-consolidated</FONT> joint ventures should be identified as affiliates and included in an affiliates table required by Articles <FONT STYLE="white-space:nowrap">12-14</FONT> of Regulation <FONT
STYLE="white-space:nowrap">S-X.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: As described in the Registrant&#146;s Registration Statement, the Fund enters
into joint ventures or other <FONT STYLE="white-space:nowrap">co-ownership</FONT> arrangements with third parties to gain indirect exposure to Private CRE investments. The Registrant confirms that, at this time, it does not have control over any of
its joint venture arrangements, as the Fund is not able to make decisions on behalf of such joint venture arrangement without unanimous consent from the third party partner. In most cases, generally accepted accounting principles does not require
the Fund to consolidate joint ventures it does not control. As such, the Registrant does not include these <FONT STYLE="white-space:nowrap">non-consolidated</FONT> joint ventures as affiliates in an affiliates table. </P>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10. <U>Comment</U> (Clarion Partners Real Estate Income Fund Inc.): With regard to the Fund&#146;s joint venture
investments, please confirm that the Fund is aware of the AICPA guidance on joint venture transparency, as memorialized in the minutes of the September&nbsp;20, 2021 meeting of the Investment Companies Entities Expert Panel available through the
following link: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">https://us.aicpa.org/content/dam/aicpa/interestareas/frc/industryinsights/downloadabledocuments/inv/inv-ep-minutes/2018-2021-archived-meeting-highlights.pdf
</FONT></FONT> </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant confirms that it is aware of AICPA guidance on joint venture transparency and
considers such guidance when preparing its financial statements. For each joint venture arrangement that the Fund has entered into with a third party partner, the joint venture invests solely in a single underlying property. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">11. <U>Comment</U> (Clarion Partners Real Estate Income Fund Inc.): With respect to the Fund&#146;s Mosaic joint venture investment referenced in the
Fund&#146;s Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> filing, please explain why the summarized financial information in the notes to consolidated financial statements of the Fund does not tie to the financial statements of the consolidated
financial joint venture contained in the filing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The summarized financial information in the notes to the consolidated
financial statements of the Registrant does not tie to the consolidated financial statements for the Mosaic at Largo JV LLC (&#147;Mosaic JV&#148;) because the Registrant and Mosaic JV use different accounting bases when preparing <FONT
STYLE="white-space:nowrap">year-end</FONT> financial statements. Specifically, the Registrant presents the summarized financial information at fair value in its notes to the consolidated financial statements, and Mosiac JV presents its financial
statements on a historical cost basis. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12. <U>Comment</U> (Clarion Partners Real Estate Income Fund Inc.): In future Form
<FONT STYLE="white-space:nowrap">N-CSR</FONT> filings, please note that: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">i. Item 8(a)(1) <I>[now Item 13(a)(1)]</I> requires disclosure of
the date as of which the information regarding portfolio managers is provided, which must be the date of the filing. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant advises the Staff that it will provide such information in future Form <FONT
STYLE="white-space:nowrap">N-CSR</FONT> filings. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">ii. Item 8(a)(3) <I>[now Item 13(a)(3)]</I> requires disclosure of the date as of which
the information regarding the compensation of portfolio managers is provided, which must be the end of the Registrant&#146;s most recently completed fiscal year, except in the case of a newly identified portfolio manager. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant advises the Staff that it will provide such information in future Form <FONT
STYLE="white-space:nowrap">N-CSR</FONT> filings. </P>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">13. <U>Comment</U> (Clarion Partners Real Estate Income Fund Inc.): With respect to the Fund&#146;s registration
statement disclosure: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">i. Please confirm whether the Fund&#146;s investment in money market funds generated acquired fund fees and expenses
that are required to be disclosed in the fee table. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant confirms that the Fund&#146;s
investment in money market funds generated less than one basis point of acquired fund fees and expenses. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">ii. Please confirm whether
recaptured expenses are reflected in the fee table. In addition, it appears that (i)&nbsp;some previously waived and/or reimbursed expenses of Class&nbsp;I shares were recaptured and some remain subject to recapture and (ii)&nbsp;the fee table
suggests that expenses for Class&nbsp;I shares are expected to be below the fee cap. Please explain why the Fund would not include in the fee table estimated expenses that are subject to recapture. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant typically includes a footnote to the expense table disclosing that recaptured expenses are
excluded from the fee table and provides the amount of the excluded recaptured expenses. In its last post-effective amendment to its registration statement on Form <FONT STYLE="white-space:nowrap">N-2,</FONT> the expense table was based on estimated
assets under management, and the Registrant did not expect that its Class&nbsp;I shares would be in a position to recapture expenses. A majority of the previously waived expenses available for recapture in future periods are fund-level waivers that
cannot be recouped until all classes are below their specified caps and all classes have recouped all previously waived class specific expenses. Class&nbsp;S shares operate significantly above their cap and the share class is made up entirely of
seed money. Therefore, the Registrant believes its Class&nbsp;S shares have a remote likelihood of recouping any previously waived expenses prior to their expiration and remaining fund-level waivers available for recoupment would likely expire. As
of the date of this letter, Class&nbsp;I shares have not recouped any expenses this year. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">iii. With regard to the fee table and the
financial highlights, the Staff&#146;s position is that waived and/or reimbursed expenses may be recaptured up to three years from the date of waiver or reimbursement, not three years from the end of the fiscal year in which such expenses were
waived and/or reimbursed. Please confirm that waived and/or reimbursed expenses are being recouped in a manner consistent with the Staff&#146;s position. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant confirms that this disclosure remains consistent with the disclosure contained in the audited
financial statements and the language contained in the expense recapture policy approved by the Fund&#146;s Board. We understand that it is the Staff&#146;s position that to the extent the recoupment period is greater than three years, that the
recoupment may become more &#147;probable than not&#148; and a liability must be recorded. The Registrant has conducted a FAS 5 analysis with respect to recoupment and concluded that a liability is not necessary, which is consistent with the audited
financial statements. The Registrant notes that the Staff previously raised similar comments related to the treatment of recoupment with respect to the Registrant&#146;s registration statement filed on Form
<FONT STYLE="white-space:nowrap">N-2</FONT> on December&nbsp;21, 2018. The Registrant refers the Staff to a letter in response to the Staff&#146;s comment, filed as EDGAR correspondence on April&nbsp;
15, 2019 (available here: <A HREF="http://www.sec.gov/Archives/edgar/data/1762562/000119312519106905/filename13.htm">https://www.sec.gov/Archives/edgar/data/1762562/000119312519106905/filename13.htm</A> </P>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">iv. Please explain how the disclosure requirements of Item 4.3 of Form <FONT
STYLE="white-space:nowrap">N-2,</FONT> regarding the audit requirement with respect to senior securities, have been met. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant confirms that it has incorporated the audited senior securities information by reference to its
audited financial statements consistent with the &#147;Dear Chief Financial Officer&#148; letter from the Chief Accountant of the Division of Investment Management Annual Industry Comment Letter dated February&nbsp;14, 2001 (the &#147;CFO
Letter&#148;). To meet the audit requirement of the senior securities table per Item 4.3 of Form <FONT STYLE="white-space:nowrap">N-2,</FONT> the Dear CFO Letter states that the independent accountant must express an opinion on the senior securities
table itself or on a financial statement or financial highlights that include the senior securities table, and registrants must include, or incorporate by reference, this opinion in the registration statement. The Dear CFO Letter notes that one way
to meet the senior securities audit requirement is for the registrants to include the senior securities table information with the per share and ratio information in the financial highlights. Since the financial highlights are specifically covered
by the audit opinion, the senior securities table information also would be covered. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Registrant has incorporated the audited senior
securities information by reference to its audited financial statements on Form <FONT STYLE="white-space:nowrap">N-CSR,</FONT> which includes the financial highlights containing the audited senior securities information and the opinion of its
independent registered public accounting firm thereon. As such, the Registrant believes that it has satisfied the requirement to include audited senior securities information pursuant to Item 4.3 of Form <FONT STYLE="white-space:nowrap">N-2.</FONT>
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">14. <U>Comment</U> (Western Asset SMASh Series Core Completion Fund): In the case of disclosure relating to swap agreements where one leg of the swap has
a variable rate, please disclose either the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">end-of-year</FONT></FONT> interest rate or the
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">end-of-period</FONT></FONT> reference rate, as required by footnote 4 to Article <FONT STYLE="white-space:nowrap">12-12</FONT> of Regulation
<FONT STYLE="white-space:nowrap">S-X.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant acknowledges the Staff&#146;s comment and will include the
requested disclosure for the Fund in future filings. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">15. <U>Comment</U> (Western Asset SMASh Series Core Completion Fund): FASB ASC <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">815-10-50-1</FONT></FONT></FONT> requires that an entity with derivatives instruments disclose in its financial statements, among other things, how and why
it uses derivatives. Please address whether this requirement is satisfied in the Fund&#146;s disclosure relating to its use of options. Please also address whether the stated reasons for investing in other derivatives is sufficiently detailed and
not overly generalized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant acknowledges the Staff&#146;s comment and will revise the Fund&#146;s disclosure
with respect to its use of options in future filings to the extent applicable. In addition, the Registrant has reviewed the Fund&#146;s disclosures relating to its investments in other derivatives and believes that they provide investors with
sufficient information regarding such investments and are appropriate in light of the Fund&#146;s investment strategy. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">16. <U>Comment</U> (General): For
each Fund that invest in tender option bonds, please include in the Fund&#146;s financial statements or related footnotes disclosure regarding the average dollar amount outstanding and the average interest rate of these instruments, as required by
Item <FONT STYLE="white-space:nowrap">6-07(3)</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X.</FONT> </P>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant acknowledges the Staff&#146;s comment and will include the
requested disclosure for the applicable Funds in future filings. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">17. <U>Comment</U> (Money market funds and series of Legg Mason Partners Variable Equity
Trust): With respect to Funds that are money market funds and Funds that are series of Legg Mason Partners Variable Equity Trust, as the Funds&#146; filings on Form <FONT STYLE="white-space:nowrap">N-CEN</FONT> identify Franklin Templeton Investor
Services as a transfer agent and as an affiliated person, please explain why that relationship is not discussed in a footnote on related party transactions in the Funds&#146; financial statements. For other Funds, which do include such footnote
disclosure, please also report the fees payable to the affiliated transfer agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: For the money market Funds, Franklin
Templeton Investor Services was included as a transfer agent for the Funds in error. The transfer agent for the money market Funds during the reporting period was, and currently is, BNY Mellon Investment Servicing (US) Inc., who is not an affiliated
person (within the meaning of the Investment Company Act of 1940, as amended) of the Funds. The Registrant will revise its disclosure with respect to the money market Funds in future filings to remove the reference to Franklin Templeton Investor
Services. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For Funds that are series of Legg Mason Partners Variable Equity Trust, for which Franklin Templeton Investor Services does
serve as transfer agent, the Funds will include the requested additional disclosure regarding fees payable to the affiliated transfer agent in future financial statements to the extent required by GAAP and applicable regulations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">18. <U>Comment</U> (General): Please confirm that waivers made with respect to each Fund were made in accordance with Rule
<FONT STYLE="white-space:nowrap">18f-3(b)</FONT> and applicable Staff guidance. For example, for Western Asset New Jersey Municipals Fund, it appears that waivers with respect to Class&nbsp;I shares exceed the class-specific expenses for that class.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrants so confirm. For Western Asset New Jersey Municipals Fund, specifically, the Registrant notes that the
Fund does not have an expense limitation arrangement with the Fund&#146;s investment adviser in respect of Class&nbsp;A and Class&nbsp;C shares. In general, when Fund level expenses are waived, they are not always reflected in the fee table for each
class because not every class has a relevant contractual waiver in place (i.e., it might be thought of as voluntary with respect to certain classes and therefore not permitted to be shown in the table). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">19. <U>Comment</U> (Western Asset Managed Municipals Fund): Please explain why gross expense figures in the fee table differ from those in the audited
financial highlights. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant notes that gross expenses in the Fund&#146;s financial highlights included interest
expense and fees related to TOB trusts, which the Fund determined would not recur in the subsequent year. As a result, the Fund restated its expense information in its fee and expense table pursuant to Instruction 3(d)(ii) of Item 3 of Form <FONT
STYLE="white-space:nowrap">N-1A.</FONT> The Registrant intends in the future to clarify when such restatements have occurred by using a footnote to the fee table. </P>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">20. <U>Comment</U> (Western Asset SMASh Series TF Fund): Please explain why net expense figures in the fee table
do not reflect interest expenses that are excluded under the expense limitation agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: See response to Comment #19.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">21. <U>Comment</U> (Western Asset New York Municipals Fund): Please reconcile the fee table in the Fund&#146;s prospectus for the prior year with the
audited financial highlights. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: See response to Comment #19. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">22. <U>Comment</U> (Western California Municipals Fund): A footnote to the fee table in the Fund&#146;s current prospectus states that management fees have
been restated, but it does not appear that they actually were restated. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant acknowledges the Staff&#146;s
comment and will file a supplement to the Fund&#146;s prospectus updating the above mentioned disclosure. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">23. <U>Comment</U> (Western Asset Premier
Institutional U.S. Treasury Reserves, Western Asset Premier Institutional Government Reserves, and Western Asset Premier Institutional Liquid Reserves): The fee tables in the Funds&#146; prospectuses do not appear to gross up expenses for the
management fees of the underlying master funds, as required by Instruction 1(d)(i) to Item 3 of Form <FONT STYLE="white-space:nowrap">N-1A.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant respectfully declines to make changes in response to this comment. The Registrant notes that footnote 1 to
each Fund&#146;s fee table provides the following clarification with respect to fees and expenses of the Fund as a feeder fund, consistent with Instruction 1(d)(i) to Item 3 of Form <FONT STYLE="white-space:nowrap">N-1A</FONT> (Western Asset Premier
Institutional Government Reserves provided below for reference): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The fund is a feeder fund that invests in securities through an
underlying mutual fund, Government Portfolio. The information in this table and in the Example below reflects the direct fees and expenses of the fund and its allocated share of fees and expenses of Government Portfolio. Since the fund invests all
of its investable assets in Government Portfolio, the fund&#146;s management agreement provides that the investment management fee of the fund will be reduced by the investment management fee allocated to the fund by Government Portfolio. The gross
expenses in the financial highlights do not reflect the reduction in the fund&#146;s management fee by the amount paid by the fund for its allocable share of the management fee paid to Government Portfolio. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Please contact the undersigned at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">617-951-8267</FONT></FONT> with any questions or comments
you might have regarding the above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


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<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Sincerely,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">/s/ Barry N. Hurwitz</TD></TR>
</TABLE></DIV>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Annex A </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="19%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="58%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>Registrant</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>1940 Act</B><br><B>File No.</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Fund</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Fiscal Year<BR>Reviewed</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Clarion Partners Real Estate Income Fund Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT STYLE="white-space:nowrap">811-23408</FONT></TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Clarion Partners Real Estate Income Fund Inc.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">12/31/2022</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ROWSPAN="6"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Legg Mason Partners Income Trust</P></TD>
<TD VALIGN="bottom" ROWSPAN="6">&nbsp;&nbsp;</TD>
<TD ROWSPAN="6" NOWRAP VALIGN="top">&nbsp;</TD>
<TD ROWSPAN="6" NOWRAP VALIGN="top" ALIGN="right"><FONT STYLE="white-space:nowrap">811-04254</FONT></TD>
<TD ROWSPAN="6" NOWRAP VALIGN="top">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Western Asset Managed Municipals Fund</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">2/28/2023</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Western Asset California Municipals Fund</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">2/28/2023</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Western Asset New York Municipals Fund</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">3/31/2023</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Western Asset Intermediate-Term Municipals Fund</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">3/31/2023</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Western Asset Pennsylvania Municipals Fund</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">3/31/2023</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Western Asset New Jersey Municipals Fund</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">3/31/2023</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ROWSPAN="5"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Legg Mason Partners Institutional Trust</P></TD>
<TD VALIGN="bottom" ROWSPAN="5">&nbsp;&nbsp;</TD>
<TD ROWSPAN="5" NOWRAP VALIGN="top">&nbsp;</TD>
<TD ROWSPAN="5" NOWRAP VALIGN="top" ALIGN="right"><FONT STYLE="white-space:nowrap">811-06740</FONT></TD>
<TD ROWSPAN="5" NOWRAP VALIGN="top">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Western Asset SMASh Series Core Completion Fund</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">2/28/2023</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Western Asset SMASh Series TF Fund</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">2/28/2023</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Western Asset Premier Institutional U.S. Treasury Reserves</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">8/31/2022</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Western Asset Premier Institutional Government Reserves</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">8/31/2022</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Western Asset Premier Institutional Liquid Reserves</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">8/31/2022</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ROWSPAN="5"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Legg Mason Partners Variable Equity Trust</P></TD>
<TD VALIGN="bottom" ROWSPAN="5">&nbsp;&nbsp;</TD>
<TD ROWSPAN="5" NOWRAP VALIGN="top">&nbsp;</TD>
<TD ROWSPAN="5" NOWRAP VALIGN="top" ALIGN="right"><FONT STYLE="white-space:nowrap">811-21128</FONT></TD>
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<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Franklin Templeton Moderate Model Portfolio</TD>
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<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">12/31/2022</TD>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Franklin Templeton Moderately Conservative Model Portfolio</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">12/31/2022</TD>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Franklin Templeton Aggressive Model Portfolio</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">12/31/2022</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Franklin Templeton Conservative Model Portfolio</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">12/31/2022</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Franklin Templeton Moderately Aggressive Model Portfolio</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">12/31/2022</TD>
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<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Western Asset High Income Fund II Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT STYLE="white-space:nowrap">811-08709</FONT></TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Western Asset High Income Fund II Inc.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">4/30/2023</TD>
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