Western Asset Premier Bond Fund Announces Monthly Distribution

PASADENA, Calif.--(Business Wire)--
The Western Asset Premier Bond Fund (NYSE:WEA) announced today the
declaration of its monthly ordinary income dividend of $0.09375 per
share. The monthly dividend will be paid on September 30, 2008 to
shareholders of record as of September 15, 2008. The ex-dividend date
will be September 11, 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 March 1973.

Western Asset Premier Bond Fund
For Fund related questions:
Western Asset Management Company
877-844-8800
or
For shareholder related questions:
Computershare Investor Services
866-290-4386

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