ZIF Western Asset Zenix Income F

Western Asset Zenix Income Fund Inc. (NYSE: ZIF) announces its portfolio composition as of June 30, 2008. Investment Objective: The Fund seeks high current income. Portfolio Composition*: � Asset Allocation � High Yield 88.1% Investment Grade 7.9% Emerging Markets 3.6% Non-Investment Grade 2.6% US Dollar 2.0% Local Currency 0.6% Investment Grade 1.0% US Dollar 1.0% Cash & Other Securities 0.4% � Credit Quality Allocation (Higher of S&P/Moody/Fitch) Aaa/AAA 0.4% Aa/AA 0.5% A/A 1.6% Baa/BBB 6.8% Ba/BB 24.5% B/B 49.7% Caa/CCC 16.5% � Top Ten High Yield Industries Consumer Cyclical 14.6% Communications 12.3% Capital Goods 9.9% Electric 9.6% Consumer Non Cyclical 8.9% Basic Industry 8.8% Energy 7.0% Transportation 3.9% Natural Gas 3.7% Technology 3.4% � � Average Life (years) 8.2 Effective Duration (years) 4.7 Average Credit Quality (S&P) B � � Portfolio Statistics: � Inception Date April 27, 1988 Inception Price $10.00 Total Net Assets $46,613,311 Market Price $2.32 NAV $2.46 (Daily NAV is available on market quotation systems using the symbol XZIFX.) � � Distribution Rate $0.0210 per share Frequency Monthly (Declared quarterly, paid monthly) Leverage** 42.89% * 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 Zenix Income Fund Inc., a diversified investment management company, 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 and Western Asset Management Company Limited, affiliates 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.