WEA Western Asset Premier Bond Fund

Western Asset Premier Bond Fund, which is listed on the New York Stock Exchange under the symbol �WEA�, announced today a distribution from income of $0.09375 per common share for the month of November 2008. This distribution is payable November 28, 2008 to shareholders of record as of November 14, 2008. The ex-dividend date will be November 12, 2008. This press release is not for tax reporting purposes and is being provided to announce the amount of the Fund�s distributions that have been declared by the Board of Trustees. In early 2009, after definitive information is available, the Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by the Fund during the calendar year 2008 should be characterized for purposes of reporting the distributions on your tax return (e.g., ordinary income, long-term capital gain or return of capital). The Fund is a closed-end investment company that invests predominantly in a diversified portfolio of debt securities. Its investment adviser is Western Asset Management Company; a subsidiary of Legg Mason, Inc. Western Asset Management Company has managed the Fund since its inception in 2002.