MPT Western Asset Munici

Salomon Brothers Municipal Partners Fund II Inc. (NYSE: MPT) as of March 31, 2006 Investment Objective: The Fund seeks a high level of current income exempt from regular Federal income tax, consistent with the preservation of capital. -0- *T Portfolio Composition* Industry Allocations -------------------- Education 23.4% General Revenue 9.6 Power 9.4 Healthcare 9.3 Pollution Control Revenue 7.1 Utilities 7.0 Facilities 6.9 Transportation 6.7 Pre-Refunded 6.7 General Obligation 4.8 Escrowed to Maturity 4.0 Industrial Development Revenue 3.8 Water 0.8 Housing 0.4 Bond Bank 0.1 Credit Quality (Higher of S&P or Moody's) ----------------------------------------- Aaa/AAA 75.4% Aa/AA 11.2 A/A 8.3 Baa/BBB 5.1 Average Effective Maturity 7.6 years Average Unleveraged Duration 7.95 years Average Leveraged Duration 12.15 years *Portfolio holdings and weightings are subject to change at any time. Portfolio Statistics -------------------- Inception Date July 29, 1993 Leverage (Preferred Stock) $45 million Leverage Percentage 34.46% Average Price $105.88 Average Coupon 5.38% Total Net Assets $130.588 million Dividend Rate $0.0550 per share Frequency Monthly Market Price $13.12 NAV $14.25 Call Statistics --------------- Non-Callable 18.4% 2006 11.0 2007 2.4 2008 1.0 2009 2.6 2010 4.8 2011 5.1 2012 11.0 2013 2.5 2014 8.3 2015 27.6 2016 4.4 2017 0.9 *T Salomon Brothers Municipal Partners Fund II Inc., a diversified investment management company, is managed by Salomon Brothers Asset Management Inc, a wholly owned subsidiary of Legg Mason, Inc. For more information, please call 1-888-777-0102 or consult the Fund's web site at www.leggmason.com/InvestorServices. Note: On December 1, 2005, Citigroup Inc. ("Citigroup") sold substantially all of its worldwide asset management business, Citigroup Asset Management ("CAM"), to Legg Mason, Inc. ("Legg Mason"). As part of this transaction, the investment adviser for the fund(s) referenced herein became a wholly owned subsidiary of Legg Mason. Under a licensing agreement between Citigroup and Legg Mason, the names of the funds, the names of any classes of shares of funds, and the names of investment advisers of the funds, as well as all logos, trademarks, and service marks related to Citigroup or any of its affiliates ("Citi Marks") are licensed for use by Legg Mason. Citi Marks include, but are not limited to, "Smith Barney," "Salomon Brothers," "Citi," and "Citigroup Asset Management". Legg Mason and its affiliates, as well as the Fund's investment adviser, are not affiliated with Citigroup. All Citi Marks are owned by Citigroup, and are licensed for use until no later than one year after the date of the licensing agreement.