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<SEC-DOCUMENT>0001287695-07-000243.txt : 20070507
<SEC-HEADER>0001287695-07-000243.hdr.sgml : 20070507
<ACCEPTANCE-DATETIME>20070507150602
ACCESSION NUMBER:		0001287695-07-000243
CONFORMED SUBMISSION TYPE:	NSAR-B/A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20061231
FILED AS OF DATE:		20070507
DATE AS OF CHANGE:		20070507
EFFECTIVENESS DATE:		20070507

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WESTERN ASSET PREMIER BOND FUND
		CENTRAL INDEX KEY:			0001163792
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA

	FILING VALUES:
		FORM TYPE:		NSAR-B/A
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-10603
		FILM NUMBER:		07823666

	BUSINESS ADDRESS:	
		STREET 1:		385 EAST COLORADO BLVD
		CITY:			PASADENA
		STATE:			CA
		ZIP:			91101
		BUSINESS PHONE:		(626) 844-9400

	MAIL ADDRESS:	
		STREET 1:		385 EAST COLORADO BLVD
		CITY:			PASADENA
		STATE:			CA
		ZIP:			91101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WESTERN ASSET CORE PLUS BOND TRUST I
		DATE OF NAME CHANGE:	20011218
</SEC-HEADER>
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<PAGE>      PAGE  2
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<PAGE>      PAGE  3
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SIGNATURE   ANDREA MELIA
TITLE       MANAGER

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77B ACCT LTTR
<SEQUENCE>2
<FILENAME>west77b.htm
<TEXT>
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<TITLE>Illustrative Report of Independent Accountants on Internal Control Required by Form N-SAR (9/05)</TITLE>
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<META NAME="date" CONTENT="02/27/2007">
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<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000" align=center><B>Report of Independent Registered Public Accounting Firm</B></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
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<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000">To the Shareholders and Trustees of Western Asset Premier Bond Fund:</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000" align=justify>In planning and performing our audit of the financial statements of the Western Asset Premier Bond Fund (the Company) as of and for the year ended December 31, 2006, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Company&#146;s internal control over financial reporting, including control activities for safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, but not for the purpose of expressing an opinion on the effectiveness of the Company&#146;s internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Company's internal control over financial reporting.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000" align=justify>The management of the Company is responsible for establishing and maintaining effective internal control over financial reporting. &nbsp;In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. &nbsp;A company&#146;s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. &nbsp;Such internal control over financial reporting includes policies and procedures that provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company&#146;s assets that could have a material effect on the financial 
statements.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000" align=justify>Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. &nbsp;Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000" align=justify>A control deficiency exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A significant deficiency is a control deficiency, or combination of control deficiencies, that adversely affects the company&#146;s ability to initiate, authorize, record, process or report external financial data reliably in accordance with generally accepted accounting principles such that there is more than a remote likelihood that a misstatement of the company&#146;s annual or interim financial statements that is more than inconsequential will not be prevented or detected. &nbsp;A material weakness is a control deficiency, or combination of control deficiencies, that results in more than a remote likelihood that a material misstate
ment of the annual or interim financial statements will not be prevented or detected. &nbsp;</P>
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<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt; color:#000000"><BR></P>
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<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000" align=justify>Our consideration of the Company&#146;s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be significant deficiencies or material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). &nbsp;However, we noted no<B> </B>deficiencies in the Company&#146;s internal control over financial reporting and its operation, including controls for safeguarding securities, that we consider to be material weaknesses as defined above as of December 31, 2006.</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000" align=justify>This report is intended solely for the information and use of management and the Board of Trustees of the Western Asset Premier Bond Fund<B> </B>and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.</P>
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<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000" align=justify>/s/ PricewaterhouseCoopers LLP</P>
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<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000" align=justify>Baltimore, Maryland</P>
<P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt; color:#000000" align=justify>February 23, 2007</P>
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