Market Overview

Western Asset Municipal High Income Fund Inc. Portfolio Composition as of June 30, 2018

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Western Asset Municipal High Income Fund Inc. (NYSE:MHF) announces its
portfolio composition as of June 30, 2018.

Investment Objective: The Fund seeks high current income exempt
from Federal income taxes.

 

Portfolio Composition*:

 

Asset Allocation

Municipal

 

99.2%

Variable Rate Demand Notes

0.8%

 

Top Ten Municipal Sectors

Industrial Revenue 24.4%
Transportation 19.7%
Health Care 12.4%
Water & Sewer 10.4%
Pre refunded/ Escrowed to Maturity 8.0%
Education 6.2%
Lease Backed 5.9%
Special Tax Obligation 5.0%
Local 2.6%
Housing 1.7%
 

Credit Quality Allocation**

AAA 3.7%
AA 10.1%
A 35.9%
BBB 38.5%
BB 4.2%
CCC 1.3%
Not Rated 6.4%
 

Call Statistics

Not Callable 13.5%
2018 6.3%
2019 7.3%
2020 10.8%
2021 6.8%
2022 11.3%
2023 10.6%
2024 8.9%
2025 10.6%
2026 6.2%
2027 5.5%
2028 2.2%
 

Average Life (years)

7.7

Effective Duration (years)

6.1

Average Coupon (%)

5.4

Subject to AMT (%)

15.2
 

Portfolio Statistics:

Inception Date

November 28, 1988

Inception Price

$10.00

Total Assets

$168,911,811
 

Market Price

$7.23

NAV

$7.81
(Daily NAV is available on market quotation systems using the symbol
XMHFX.)
 

Distribution Rate

$0.0255 per share

Frequency

Monthly (Declared quarterly, paid monthly)

 
*   Portfolio holdings and weightings are historical and are presented
here for informational purposes only. They are subject to change at
any time.
**

Credit quality is a measure of a bond issuer's ability to repay
interest and principal in a timely manner. The credit ratings
shown are based on each portfolio security's rating as provided by
Standard and Poor's, Moody's Investors Service and/or Fitch
Ratings, Ltd. and typically range from AAA (highest) to D
(lowest), or an equivalent and/or similar rating. For this
purpose, when two or more of the agencies have assigned differing
ratings to a security, the highest rating is used. Securities that
are unrated by all three agencies are reflected as such. The
credit quality of the investments in the Fund's portfolio does not
apply to the stability or safety of the Fund. These ratings are
updated monthly and may change over time. Please note, the Fund
itself has not been rated by an independent rating agency.

 

Western Asset Municipal High Income Fund Inc., a diversified closed-end
investment management company, is advised by Legg Mason Partners Fund
Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc., and is
sub-advised by Western Asset Management Company, an affiliate of the
advisor.

An investment in the Fund involves risk, including loss of principal.
Investment return and the value of shares will fluctuate. Fixed income
securities are subject to credit risk, inflation risk, call risk, and
interest rate risk. As interest rates rise, bond prices fall, reducing
the value of the Fund's share price. Certain investors may be subject to
the alternative minimum tax (AMT). State and local taxes may apply. The
Fund may invest in derivative instruments. Derivative instruments can be
illiquid, may disproportionately increase losses, and have a potentially
large impact on Fund performance.

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

For more information, please call Fund Investor Services at
1-888-777-0102, or consult the Fund's web site at http://www.lmcef.com.
Hard copies of the Fund's complete audited financial statements are
available free of charge upon request.

FN1112214

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