LMP Capital and Income Fund Inc. (NYSE: SCD) today announced that effective immediately, Harry D. “Hersh” Cohen, Peter Vanderlee, CFA, and Michael Clarfeld, CFA, of ClearBridge Advisors have been named lead portfolio managers of the Fund. As the lead portfolio managers, they are responsible for the day-to-day management of the Fund’s equity assets and for the allocation of the Fund’s assets between equity and fixed income investments. The portfolio management team from Western Asset Management Company will continue to be responsible for the Fund’s fixed income investments.

As of June 30, 2009, ClearBridge Advisors had approximately $47.1 billion in assets under management, and Hersh Cohen, Peter Vanderlee, and Michael Clarfeld collectively bring with them over 60 years of investment industry experience. Mr. Cohen currently manages ClearBridge Advisors’ Appreciation portfolios and Mr. Vanderlee currently manages ClearBridge Advisors’ Dividend Strategy portfolios. Together, they manage ClearBridge Advisors’ Equity Income Builder portfolios. Mr. Clarfeld has been with ClearBridge Advisors since 2006.

  • Hersh Cohen is Chief Investment Officer, Managing Director, and Senior Portfolio Manager with ClearBridge Advisors, a unit of Legg Mason, Inc. Mr. Cohen has over 40 years of investment industry experience and was a nominee for Morningstar’s Domestic-Equity Manager of the Year in 2008 for Legg Mason Partners Appreciation Fund. Mr. Cohen received his BA from Western Reserve University and earned a PhD in Psychology from Tufts University.
  • Peter Vanderlee, CFA, is a Managing Director and Portfolio Manager with ClearBridge Advisors. He has 10 years of investment management experience and 12 years of related investment experience. He received his MS from the University of Technology, Eindhoven, Holland, and earned his MBA from New York University. He is a member of the CFA Institute.
  • Michael Clarfeld, CFA, is a Director and Portfolio Manager with ClearBridge Advisors. He has 10 years of investment management experience. He received his BA from Duke University, is a member of the CFA Institute and the New York Society of Security Analysts.

“These appointments reflect a careful analysis of ClearBridge’s investment capabilities as we continue to examine ways to best serve our clients. Each of these managers has a proven record in managing income-oriented portfolios, and we believe that shareholders in this Fund will benefit from the insights they’ve gained from successful management of similar portfolios. We believe the investment expertise of this team of equity portfolio managers will complement the existing team of fixed income portfolio managers at Western Asset Management,” said Peter Sundman, Chief Executive Officer of ClearBridge Advisors.

The Fund will host a conference call with the new equity portfolio management team to discuss their views on the Fund and the broader markets.

CALL DATE: August 11, 2009 CALL TIME: 4:15 pm (Eastern Time) DIAL-IN NUMBER: 1-888-831-4305 PASSCODE: Legg Mason

Shortly after its conclusion, a replay of the call will be made available on the Fund’s website at www.leggmason.com/cef.

LMP Capital and Income Fund Inc. is a non-diversified, closed-end management investment company. Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Legg Mason, Inc., serves as the Fund's investment manager and is sub-advised by ClearBridge Advisors, LLC, and Western Asset Management Company, affiliates of the investment manager.

For more information, please contact the Fund at 1-888-777-0102 or consult the Fund’s web site at www.leggmason.com/cef.

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