Western Asset Municipal Defined Opportunity Trust Inc. (NYSE: MTT) Announces Scheduled Termination

Western Asset Municipal Defined Opportunity Trust Inc. (the "Fund"), a term fund, announced today that the scheduled termination of the Fund is expected to occur on or about April 30, 2021 (the "Termination Date"). Pursuant to the terms of the Fund's prospectus, dated March 26, 2009, the Fund's twelve year expected term was scheduled to expire on or about April 30, 2021. Proceeds from the termination of the Fund will be paid to stockholders promptly after the Termination Date (the "Liquidating Payment"). The proportionate interests of stockholders in the assets of the Fund will be fixed on the basis of their respective holdings at the close of business on the Termination Date. Prior to the opening of business on May 3, 2021, the Fund will cease trading on the New York Stock Exchange.

The Liquidating Payment will be made in lieu of the Fund's April distribution payment.

The Fund, a non-diversified, closed-end management investment company, is managed by Legg Mason Partners Fund Advisor, LLC ("LMPFA"), and is sub-advised by Western Asset Management Company, LLC ("Western Asset"), an affiliate of LMPFA. Both LMPFA and Western Asset are indirect wholly-owned subsidiaries of Franklin Resources, Inc. ("Franklin Resources").

The Fund files its semi-annual and annual reports with the Securities and Exchange Commission (the "SEC"). These reports are available on the SEC's website at www.sec.gov. Contact the Fund at 1-888-777-0102 for additional information, 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. This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the Fund's current plans and expectations, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Additional information concerning such risks and uncertainties are contained in the Fund's filings with the SEC. Franklin Resources and its affiliates do not engage in selling shares of the Fund.

Category: Fund Announcement

Source: Franklin Resources, Inc.

Source: Legg Mason Closed End Funds

View source version on businesswire.com: https://www.businesswire.com/news/home/20210416005157/en/