WESTERN ASSET TRUST, INC.
Corporate Securities Portfolio
Mortgage Securities Portfolio
International Securities Portfolio
Supplement to Prospectus dated October 30, 1995
The following information is inserted in the section captioned "Fee Waivers"
on page 4 of the Prospectus:
"Western Asset has also voluntarily undertaken to waive fees and/or
reimburse the International Portfolio to the extent that Portfolio's
expenses (exclusive of taxes, interest, brokerage and other transaction
expenses and any extraordinary expenses) exceed during any month an
annual rate of 0.85% of average daily net assets for such month. These
waiver and reimbursement agreements are in effect until June 30, 1996."
The following information is inserted in the section captioned "Management and
Other Expenses" on page 27 of the Prospectus:
"Western Asset has voluntarily agreed to waive its fees or reimburse
each of the Domestic Portfolios to the extent the Portfolio's expenses
(exclusive of taxes, interest, brokerage and other transaction expenses
and any extraordinary expenses) exceed during any month an annual
percentage rate equal to 0.25% of the Portfolio's average daily net
assets, and Western Asset has voluntarily agreed to waive its fees or
reimburse the International Portfolio to the extent that Portfolio's
expenses (exclusive of taxes, interest, brokerage and other transaction
expenses and any extraordinary expenses) exceed during any month an
annual percentage rate equal to 0.85% of that Portfolio's average daily
net assets. These waiver and reimbursement agreements are in effect
until June 30, 1996."
January 4, 1996
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WESTERN ASSET TRUST, INC.
Corporate Securities Portfolio
Mortgage Securities Portfolio
International Securities Portfolio
Supplement to Statement of Additional Information dated October 30, 1995
The following information is inserted in the section captioned "Expense
Limitations" on page 26 of the Statement of Additional Information:
"Western Asset has agreed to waive its fees or reimburse each of the
Corporate and Mortgage Portfolios to the extent a Portfolio's expenses
(exclusive of taxes, interest, brokerage and other transaction expenses
and any extraordinary expenses) exceed during any month an annual
percentage rate equal to 0.25% of the Portfolio's average daily net assets.
Western Asset has agreed to waive its fees or reimburse the International
Portfolio to the extent the Portfolio's expenses (exclusive of taxes,
interest, brokerage and other transaction expenses and any extraordinary
expenses) exceed during any month an annual percentage rate equal to 0.85%
of the Portfolio's average daily net assets. These voluntary expense
limitations are in effect to June 30, 1996."
January 4, 1996
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WESTERN ASSET TRUST, INC.
Money Market Portfolio
Short Duration Portfolio
Limited Duration Portfolio
Intermediate Duration Portfolio
Full Range Duration Portfolio
Long Duration Portfolio
Supplement to Prospectus dated October 30, 1995
The following information is inserted in the section captioned "Fee Waivers" on
page 8 of the Prospectus:
"The Adviser has voluntarily agreed to waive its fees and/or reimburse each
Portfolio to the extent the Portfolio's expenses (exclusive of taxes,
interest, brokerage and other transaction expenses and any other
extraordinary expenses) exceed during any month an annual rate of 0.50% of
the Portfolio's average daily net assets for such month for the Limited
Duration, Intermediate Duration, Full Range Duration and Long Duration
Portfolios, and 0.40% of the Portfolio's average daily net assets for such
month for the Money Market and Short Duration Porfolios until June 30,
1996. For the Limited Duration, Money Market, Full Range Duration and
Long Duration Portfolios, the Administrator has voluntarily agreed to
limit its annual fee to 0.05% of the Portfolios average daily net assets."
January 4, 1996
