Salomon Brothers Emerging Markets Floating Rate Fund Inc. Sets New Rate and Announces a dividend of $0.05900 for the months of September, October and November 2005

Business Wire, August 1, 2005

NEW YORK -- Salomon Brothers Emerging Markets Floating Rate Fund Inc., which is listed on the New York Stock Exchange under the symbol "EFL," has announced a dividend of $0.05900 per common share for the months of September, October and November 2005. The Fund had previously paid a distribution of $0.05400 per common share. The dividend schedules for these months appears below:

Declaration Date  Ex-Dividend    Record        Payable

September           07/25/05     09/09/05   09/13/05       09/30/05

October             07/25/05     10/14/05   10/18/05       10/28/05

November            07/25/05     11/10/05   11/15/05       11/25/05

In declaring the new rate, the Fund cited increased income from the availability of higher short-term interest rates. The floating rate nature of the Fund makes its income sensitive to changes in the short-term rates.

Salomon Brothers Emerging Markets Floating Rate Fund Inc., a non-diversified investment management company, is managed by Salomon Brothers Asset Management Inc, an indirect wholly owned subsidiary of Citigroup Inc.

For more information, call Investor Relations at 1-888-777-0102 or 1-800-SALOMON, or visit the Fund's web site at www.sbam.com.