Western Asset Variable Rate Strategic Fund Inc., which is traded on the New York Stock Exchange under the symbol ?GFY,? announced today the results of the votes cast at the Fund's annual meeting of shareholders held on January 28, 2011.

Shareholders voted to elect Leslie H. Gelb, R. Jay Gerken, and William R. Hutchinson as Class II Directors of the Fund to hold office until the annual meeting of shareholders in the year 2014 or thereafter until their respective successors are duly elected and qualified.

Western Asset Variable Rate Strategic Fund Inc. is a non-diversified closed-end management investment company. It 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.

Contact the Fund at 1-888-777-0102 for more information, or visit the Fund's web site at www.leggmason.com/cef.

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

Legg Mason & Co. LLC
Brenda Grandell, 212-857-8087
Director, Closed-End Funds