WESTERN ASSET TRUST, INC.
MONEY MARKET PORTFOLIO
SHORT DURATION PORTFOLIO
LIMITED DURATION PORTFOLIO
INTERMEDIATE PORTFOLIO
CORE PORTFOLIO
LONG DURATION PORTFOLIO
SUPPLEMENT TO PROSPECTUS DATED OCTOBER 30, 1995
The following information replaces the first paragraph in the section captioned
"Fee Waivers" on page 8 of the Prospectus:
The Adviser has voluntarily agreed to waive a portion of its fees for the
Intermediate Portfolio and the Limited Duration Portfolio, so that the fee for
the Intermediate Portfolio is 0.35% of the Portfolio's average daily net assets,
and the fee for the Limited Duration Portfolio is 0.30% of the Portfolio's
average daily net assets, until December 31, 1996. The Adviser has also
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 Core and Long Duration Portfolios, 0.45% of the
Portfolio's average daily net assets for such month for the Intermediate
Portfolio,and 0.40% of the Portfolio's average daily net assets for such month
for the Limited Duration, Money Market and Short Duration Portfolios, until
December 31, 1996. For all the Portfolios, the Administrator has voluntarily
agreed to limit its annual fee to 0.05% of each Portfolio's average daily net
assets.
Dated: August 5, 1996
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WESTERN ASSET TRUST, INC.
MONEY MARKET PORTFOLIO
SHORT DURATION PORTFOLIO
LIMITED DURATION PORTFOLIO
INTERMEDIATE PORTFOLIO
CORE PORTFOLIO
LONG DURATION PORTFOLIO
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
DATED OCTOBER 30, 1995
The following statement replaces the first paragraph in the section captioned
"Expense Limitations" on page 21 of the Statement of Additional Information:
The Adviser has voluntarily agreed to waive a portion of its fees for the
Intermediate Portfolio and the Limited Duration Portfolio, so that the fee for
the Intermediate Portfolio is 0.35% of the Portfolio's average daily net assets,
and the fee for the Limited Duration Portfolio is 0.30% of the Portfolio's
average daily net assets, until December 31, 1996. The Adviser has also
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 Core and Long Duration Portfolios, 0.45% of the
Portfolio's average daily net assets for such month for the Intermediate
Portfolio, and 0.40% of the Portfolio's average daily net assets for such month
for the Limited Duration, Money Market and Short Duration Portfolios, until
December 31, 1996. For the Core Portfolio, the Adviser waived advisory fees
of $69,422, $158,373 and $71,911 for the years ended June 30, 1995, 1994 and
1993, respectively. For the Intermediate Portfolio, the Adviser waived all
advisory fees for the year ended June 30, 1995. These agreements are
voluntary and may be terminated at any time.
Dated: August 5, 1996
