Western Asset Municipal Partners Fund Inc. as of March 31, 2008

Business Wire,  May 5, 2008  

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NEW YORK -- Western Asset Municipal Partners Fund Inc. (NYSE: MNP) announces its portfolio composition as of March 31, 2008.

Investment Objective: The Fund seeks as high a level of current income exempt from regular Federal income tax as is consistent with preservation of principal.

Portfolio Composition*:

Asset Allocation
Municipals                   97.0%
Cash & Other Securities  3.0%
Top Ten Municipal Sectors
Health Care                15.9%
Pre-Refunded Municipals    14.2%
Transportation             13.0%
Water & Sewer          11.4%
Local                      9.0%
Power                      8.4%
Industrial Revenue         7.3%
Special Tax                3.5%
Lease                      3.0%
Other/Revenue              2.4%
Credit Quality Allocation (Higher of S&P/Moody/Fitch)
AAA                                                        68.4%
AA                                                         18.7%
A                                                          7.4%
BBB                                                        5.3%
BB                                                         0.2%
Call Schedule
Not Callable   16.2%
2008           13.1%
2009           4.9%
2010           9.1%
2011           4.1%
2012           9.7%
2013           2.7%
2014           7.7%
2015           9.4%
2016           7.3%
2017           10.3%
2018           5.7%
Average Coupon (%)                 5.3
Average Life (years)              10.6
Effective Duration (years)         6.9
Average Credit Quality (S&P)   AA+

Portfolio Statistics:

[TABLE OMITTED]
Distribution Rate                 $0.0500 per share
Frequency          Declared Quarterly, paid Monthly
Leverage**                                   37.13%

*Portfolio holdings and weightings are historical and are presented here for informational purposes only. They are subject to change at any time.

** The Fund may employ leverage in the form of loans, preferred stock, reverse repurchase agreements and/or other instruments. If the Fund establishes a segregated account in which it maintains cash and/or liquid securities equal in value to its obligation in respect of the reverse repurchase agreements (or other instruments), these investments are not considered to be a borrowing or a "senior security" for purposes of the asset coverage requirements under the 1940 Act, although they may have the same economic effect as other types of leverage.

Western Asset Municipal Partners Fund Inc., a diversified closed-end investment management company traded on the New York Stock Exchange under the symbol "MNP," is advised by Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc. and is sub-advised by Western Asset Management Company, an affiliate of the adviser.

Past performance is no guarantee of future results. An investment in the Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate.

For more information, please call Fund Investor Services at 888-777-0102 or consult the Fund's web site at www.leggmason.com/cef.

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