WEA Western Asset Premier Bond Fund

Western Asset Premier Bond Fund, which is listed on the New York Stock Exchange under the symbol “WEA”, today announced the financial position of the Fund as of March 31, 2017.

        Current Q Previous Q Prior Yr Q March 31, 2017 December 31, 2016 March 31, 2016 Total Assets (a) $ 228,287,583 $ 227,204,145 $ 217,002,185 Total Net Assets(a) $ 167,975,665 $ 165,254,651 $ 156,460,992 NAV Per Share of Common Stock (b) $ 14.11 $ 13.88 $ 13.15 Market Price Per Share $ 13.35 $ 12.95 $ 12.55 Premium / (Discount) (5.39 )% (6.70 )% (4.56 )% Outstanding Shares 11,904,750 11,903,224 11,899,563   Total Net Investment Income (c) $ 2,501,523 $ 2,385,265 $ 2,622,074 Total Net Realized/Unrealized Gain/(Loss) (c) $ 2,906,007   $ (897,608 ) $ 1,352,609   Net Increase (Decrease) in Net Assets From Operations (c) $ 5,407,530   $ 1,487,657   $ 3,974,683     Earnings per Common Share Outstanding Total Net Investment Income (c) $ 0.21 $ 0.20 $ 0.22 Total Net Realized/Unrealized Gain/(Loss) (c) $ 0.24   $ (0.08 ) $ 0.11   Net Increase (Decrease) in Net Assets From Operations (c) $ 0.45   $ 0.12   $ 0.33     Undistributed/(Overdistributed) Net Investment Income (d) $ 947,108 $ 1,153,679 $ 3,453,752 Undistributed/(Overdistributed) Net Investment Income Per Share (d) $ 0.08 $ 0.10 $ 0.29   Loan Outstanding (d) $ 58,000,000 $ 58,000,000 $ 58,000,000  

Footnotes:

(a) The difference between total assets and total net assets is due primarily to the Fund’s use of borrowings, which are included in total assets; total net assets do not include borrowings.

(b) NAVs are calculated as of the close of business on the last business day in the periods indicated above.

(c) For the quarter indicated.

(d) As of the period indicated above.

This financial data is unaudited.

The Fund files its semi-annual and annual reports with the Securities and Exchange Commission, as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year on Form N-Q. These reports are available on the Commission’s website at www.sec.gov. To obtain information on Form N-Q or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102.

Western Asset Premier Bond 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. (“Legg Mason”). Western Asset Management Company has managed the Fund since its inception in 2002.

For more information about the Fund, please call 1-888-777-0102 or consult the Fund’s web site at www.lmcef.com. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.

Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Fund.

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Media:Legg MasonMaria Rosati, (212) 805-6036mrosati@leggmason.com