MPT Western Asset Munici

Western Asset Municipal Partners Fund II Inc., which is listed on the New York Stock Exchange under the symbol "MPT", today announced the financial position of the Fund as of March 31, 2007. Current Qtr Previous Qtr Prior Yr's Qtr March 31, December 31, March 31, 2007� 2006� 2006� � Total Assets (a) $ 132,110,891� $ 132,611,425� $ 130,872,927� Total Net Assets (a) $ 86,853,371� $ 87,291,763� $ 85,587,662� � NAV Per share of Common Stock (b) $ 14.46� $ 14.53� $ 14.25� Market Price Per Share $ 13.29� $ 13.06� $ 13.12� Premium / (Discount) (8.09)% (10.12)% � (7.93)% Outstanding Shares 6,007,094� 6,007,094� 6,007,094� � Total Net Investment Income (c)(d) $ 1,278,377� $ 1,218,811� $ 1,234,461� Total Net Investment Income Per Share (c)(d)+ $ 0.21� $ 0.20� $ 0.21� � Distributions paid to Preferred Shareholders from Net Investment Income (c) $ 413,325� $ 410,891� $ 369,152� Distributions paid to Preferred Shareholders from Net Investment Income Per Share (c)+ $ 0.07� $ 0.07� $ 0.06� � Total Net Realized / Unrealized Gain / (Loss)(c) $ (492,486) $ 247,591� $ (1,174,202) Total Net Realized / Unrealized Gain / (Loss) Per Share (c)+ $ (0.08) $ 0.04� $ (0.20) � Undistributed / (Overdistributed) Net Investment Income (e) $ 183,993� $ 131,133� $ 220,236� Undistributed / (Overdistributed) Net Investment Income Per Share (e)+ $ 0.03� $ 0.02� $ 0.04� � Footnotes: (a) The difference between total assets and total net assets is due primarily to the issuance of preferred stock and/or the Fund's use of borrowings; total assets do not include accrued expenses, other liabilities, borrowings and the redemption value of preferred stock, if any. (b) NAVs are calculated as of the close of business on the last business day in the periods indicated above. (c) For the quarter indicated. (d) Excludes distributions paid to preferred stockholders from net investment income. (e) As of the period indicated above. + Per Share information based on shares of Common Stock outstanding. � This financial data is unaudited. The Fund files its semi-annual and annual reports with the Securities and Exchange Commission as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year on Form N-Q. These reports are available on the Commission's website at www.sec.gov. To obtain information on the Form N-Q or a semi-annual or annual report from the Fund, shareholders can call 1-800-777-0102. Western Asset Municipal Partners Fund II 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 adviser. For more information, call Investor Relations at 1-888-777-0102, or visit the Fund's web site at http://www.leggmason.com/InvestorServices.