Western Asset High Yield Defined Opportunity Fund Inc. Announces Conference Call

Western Asset High Yield Defined Opportunity Fund Inc. (NYSE: HYI), the most recent addition to the closed-end fund family affiliated with Legg Mason, Inc., announced today a conference call to update shareholders and potential investors on the Fund’s performance and investment activities since its successful initial public offering on October 27, 2010. The call will be held on December 20, 2010 at 4:15 p.m. (Eastern Time). Michael Buchanan, Head of Global Credit, and Chris Kilpatrick, Research Analyst, at Western Asset Management Company, will discuss the Fund’s investment portfolio and market outlook and will conclude with a question and answer session.

You may listen to this call by teleconference:

Dial-in information:

Date: December 20, 2010

Time: 4:15 p.m. (Eastern Time)

USA Toll Free Number: 1-866-515-4784

Passcode: Legg Mason

A replay of the call will be made available and instructions on how to access the replay will be provided at a future date by press release.

The Fund's primary investment objective is to provide high income. As a secondary investment objective, the Fund will seek capital appreciation. There can be no assurance the Fund will achieve its investment objectives.

The Fund seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its net assets in a portfolio of high-yield corporate fixed-income securities with varying maturities. “High-yield” refers to below investment grade quality (also commonly referred to as “junk bonds”). When choosing investments, Western Asset will focus on high-yield securities that exhibit pricing inefficiencies, improving credit conditions that offer income opportunities and the potential for high real yields and capital appreciation.

Other funds in the Legg Mason-affiliated closed-end fund family include ClearBridge Energy MLP Fund Inc. (NYSE: CEM), LMP Capital & Income Fund Inc. (NYSE: SCD), LMP Corporate Loan Fund Inc. (NYSE: TLI), LMP Real Estate Income Fund Inc. (NYSE: RIT), Western Asset Emerging Markets Debt Fund Inc. (NYSE: ESD), Western Asset Emerging Markets Income Fund Inc. (NYSE: EMD), Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE: GDO), Western Asset Global High Income Fund Inc. (NYSE: EHI), Western Asset Global Partners Income Fund Inc. (NYSE: GDF), Western Asset High Income Fund Inc. (NYSE: HIF), Western Asset High Income Fund II Inc. (NYSE: HIX), Western Asset High Income Opportunity Fund Inc. (NYSE: HIO), Western Asset Income Fund (NYSE: PAI), Western Asset Inflation Management Fund Inc. (NYSE: IMF), Western Asset Intermediate Muni Fund Inc. (NYSE Amex: SBI), Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE: IGI), Western Asset Managed High Income Fund Inc. (NYSE: MHY), Western Asset Managed Municipals Fund Inc. (NYSE: MMU), Western Asset Mortgage Defined Opportunity Fund Inc. (NYSE: DMO), Western Asset Municipal Defined Opportunity Trust Inc. (NYSE: MTT), Western Asset Municipal High Income Fund Inc. (NYSE: MHF), Western Asset Municipal Partners Fund Inc. (NYSE: MNP), Western Asset Premier Bond Fund (NYSE: WEA), Western Asset Variable Rate Strategic Fund Inc. (NYSE: GFY) and Western Asset Worldwide Income Fund Inc. (NYSE: SBW).

Legg Mason Partners Fund Advisor, LLC (“LMPFA”) is the Fund's investment manager. Investment sub-advisory services are provided by Western Asset Management Company (“Western Asset”). LMPFA and Western Asset are wholly owned subsidiaries of Legg Mason, Inc. (“Legg Mason”).

Legg Mason is the 6th largest closed-end fund manager in the U.S., with $10 billion in closed-end assets under management as of September 30, 2010.

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

For more information please call 1-888-777-0102 or consult the Funds’ web site at www.leggmason.com/cef.

SYMBOLS:NYSE: CEM; DMO; EHI; EMD; ESD; GDF; GDO; GFY; HIF; HIO; HIX; HYI; IGI; IMF; MHF; MHY; MMU; MNP; MTT; PAI; RIT; SBW; SCD; TLI; WEANYSE Amex: SBI

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