Edgar Filing: Western Asset Income Fund

Western Asset Income Fund

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-02351

Western Asset Income Fund

(Exact Name of Registrant as Specified In Its Charter)


Address of Principal Executive Offices:		385 East Colorado Boulevard
		Pasadena, CA 91101

Name and address of agent for service:		Charles A. Ruys de Perez 385 East Colorado Boulevard Pasadena, CA 91101

Registrant’s telephone number, including area code: (410) 539-0000

Date of fiscal year end: December 31, 2007

Date of reporting period: March 31, 2007

Item 1 – Schedule of Investments

Portfolio of Investments

Western Asset Income Fund

March 31, 2007 (Unaudited)

(Amounts in Thousands)


	Rate		Maturity Date	Par		Value
Long-Term Securities — 96.3%
Corporate Bonds and Notes — 70.0%
Aerospace and Defense — 0.2%
L-3 Communications Corp.	7.625	%	6/15/12	$	275	$	283

Airlines — 0.3%
Continental Airlines Inc.	6.545	%	8/2/20		171		178
Continental Airlines Inc.	7.256	%	9/15/21		209		225

							403

Automobiles — 4.1%
DaimlerChrysler NA Holding Corp.	7.300	%	1/15/12		245		264
Ford Motor Co.	7.450	%	7/16/31		3,550		2,747	^A
General Motors Corp.	8.250	%	7/15/23		3,450		3,105	^A

							6,116

Building Products — 0.5%
American Standard Inc.	8.250	%	6/1/09		500		528
Nortek Inc.	8.500	%	9/1/14		225		219

							747

Capital Markets — 3.4%
BankAmerica Capital III	5.930	%	1/15/27		215		209	^A,B
Lehman Brothers Holdings Inc.	5.000	%	1/14/11		1,340		1,329
Lehman Brothers Holdings Inc.	5.750	%	1/3/17		110		110
Merrill Lynch and Co. Inc.	6.110	%	1/29/37		320		310
Morgan Stanley	5.050	%	1/21/11		1,780		1,772
Morgan Stanley	4.750	%	4/1/14		60		57
The Bear Stearns Cos. Inc.	5.550	%	1/22/17		720		706
The Goldman Sachs Group Inc.	6.345	%	2/15/34		555		548

							5,041

Chemicals — 0.6%
The Dow Chemical Co.	7.375	%	11/1/29		800		890

Commercial Banks — 2.8%
Comerica Capital Trust II	6.576	%	2/20/37		360		349	^C
Rabobank Capital Funding Trust II	5.260	%	12/31/49		115		112	^C,D
Rabobank Capital Funding Trust III	5.254	%	12/31/16		1,145		1,104	^C,D
RBS Capital Trust III	5.512	%	9/29/49		1,460		1,437	^C
SunTrust Capital VIII	6.100	%	12/1/66		390		365	^C
Wachovia Capital Trust III	5.800	%	3/15/42		200		202	^C
Wells Fargo Capital X	5.950	%	12/15/36		620		597

							4,166

Commercial Services and Supplies — 0.3%
Waste Management Inc.	7.375	%	5/15/29		415		456

Communications Equipment — N.M.
Motorola Inc.	7.625	%	11/15/10		56		60


Consumer Finance — 5.2%
American Express Co.	6.800	%	9/1/66	$	1,000	$	1,065	^C
Capital One Financial Corp.	7.125	%	8/1/08		90		92
Ford Motor Credit Co.	7.375	%	10/28/09		4,425		4,417
GMAC LLC	8.000	%	11/1/31		1,610		1,726
Nelnet Inc.	7.400	%	9/29/36		460		473	^C

							7,773

Containers and Packaging — 0.1%
Graphic Packaging International Corp.	9.500	%	8/15/13		200		213

Diversified Financial Services — 9.9%
AGFC Capital Trust I	6.000	%	1/15/67		300		300	^C,D
AIG SunAmerica Global Financing VI	6.300	%	5/10/11		1,880		1,963	^D
American Express Travel Related Services Co. Inc.	5.250	%	11/21/11		300		302	^D
Bank of America Corp.	7.800	%	9/15/16		250		291
Beaver Valley II Funding	9.000	%	6/1/17		300		341
Capital One Bank	5.750	%	9/15/10		310		314
Capital One Bank	6.500	%	6/13/13		330		345
Capital One Capital IV	6.745	%	2/17/37		390		374	^C
Chase Capital II	5.860	%	2/1/27		725		708	^A,B
Citigroup Inc.	6.125	%	8/25/36		550		559
Deutsche Bank Capital Funding Trust	5.628	%	1/19/49		670		658	^A,C,D
Glen Meadow Pass-Through Certificates	6.505	%	2/12/67		310		315	^C,D
HSBC Finance Capital Trust IX	5.911	%	11/30/35		1,350		1,340	^C
HSBC Finance Corp.	5.700	%	6/1/11		1,730		1,756
ILFC E-Capital Trust II	6.250	%	12/21/65		790		809	^A,C,D
Mizuho Preferred Capital Co. LLC	8.790	%	12/29/49		110		115	^C,D
Residential Capital Corp.	6.000	%	2/22/11		1,770		1,746
UBS Preferred Funding Trust V	6.243	%	5/12/49		1,120		1,156	^C
ZFS Finance USA Trust II	6.450	%	12/15/65		1,440		1,440	^C,D

							14,832

Diversified Telecommunication Services — 4.3%
AT&T Corp.	8.000	%	11/15/31		440		544
BellSouth Corp.	4.750	%	11/15/12		320		312
Embarq Corp.	7.082	%	6/1/16		330		336
Qwest Capital Funding Inc.	7.250	%	2/15/11		1,150		1,177
Qwest Communications International Inc.	7.500	%	2/15/14		850		876
Qwest Corp.	6.875	%	9/15/33		1,000		965	^A
Verizon Global Funding Corp.	5.850	%	9/15/35		570		539
Verizon New York Inc.	6.875	%	4/1/12		1,540		1,625

							6,374

Electric Utilities — 5.2%
Exelon Corp.	6.750	%	5/1/11		1,050		1,094
FirstEnergy Corp.	6.450	%	11/15/11		60		63
FirstEnergy Corp.	7.375	%	11/15/31		460		523
Pacific Gas and Electric Co.	6.050	%	3/1/34		800		802
PNPP II Funding Corp.	9.120	%	5/30/16		2,361		2,669	^A
Sithe/Independence Funding Corp.	9.000	%	12/30/13		1,500		1,652
Tampa Electric Co.	6.375	%	8/15/12		145		152
TXU Energy Co.	6.125	%	3/15/08		500		503	^A


TXU Energy Co.	7.000	%	3/15/13	$	370	$	385

							7,843

Food and Staples Retailing — 0.6%
CVS Corp.	5.750	%	8/15/11		290		296
Safeway Inc.	7.500	%	9/15/09		500		525	^A

							821

Food Products — 0.3%
Kraft Foods Inc.	6.250	%	6/1/12		500		520

Gas Utilities — 0.2%
Southern Natural Gas Co.	5.900	%	4/1/17		340		340	^D

Health Care Equipment and Supplies — 0.6%
Baxter International Inc.	5.900	%	9/1/16		520		536
Hospira Inc.	6.050	%	3/30/17		290		290

							826

Health Care Providers and Services — 4.2%
Aetna Inc.	5.750	%	6/15/11		540		551
Cardinal Health Inc.	5.800	%	10/15/16		410		409	^D
Coventry Health Care Inc.	5.950	%	3/15/17		440		438
HCA Inc.	7.875	%	2/1/11		250		255
HCA Inc.	6.300	%	10/1/12		180		168	^A
HCA Inc.	6.250	%	2/15/13		930		845	^A
HCA Inc.	5.750	%	3/15/14		65		55
HCA Inc.	9.125	%	11/15/14		400		427	^D
HCA Inc.	9.250	%	11/15/16		500		539	^D
Humana Inc.	6.450	%	6/1/16		220		228
Quest Diagnostics Inc.	5.125	%	11/1/10		290		288
Tenet Healthcare Corp.	6.375	%	12/1/11		1,465		1,370	^A
Tenet Healthcare Corp.	6.875	%	11/15/31		250		197
Universal Health Services Inc.	7.125	%	6/30/16		520		555

							6,325

Hotels Restaurants and Leisure — 0.2%
Caesars Entertainment Inc.	8.125	%	5/15/11		250		265

Household Durables — 0.5%
DR Horton Inc.	5.250	%	2/15/15		410		375
Pulte Homes Inc.	6.250	%	2/15/13		145		144
The Black and Decker Corp.	5.750	%	11/15/16		290		291

							810

Independent Power Producers and Energy Traders — 1.7%
Dynegy Holdings Inc.	6.875	%	4/1/11		1,300		1,303
Dynegy Holdings Inc.	8.750	%	2/15/12		735		781
The AES Corp.	9.500	%	6/1/09		39		42
TXU Corp.	6.500	%	11/15/24		520		438

							2,564


Insurance — 2.4%
Ace Ina Holdings Inc.	5.700	%	2/15/17	$	240	$	241
American International Group Inc.	5.050	%	10/1/15		180		176	^A
ASIF Global Financing XIX	4.900	%	1/17/13		30		30	^D
Liberty Mutual Group	5.750	%	3/15/14		270		269	^D
Liberty Mutual Group	7.800	%	3/7/87		300		292	^D
MetLife Inc.	6.400	%	12/15/36		740		723	^C
Prudential Financial Inc.	5.700	%	12/14/36		340		325
The Chubb Corp.	6.375	%	3/29/67		320		319	^C
The St. Paul Travelers Cos. Inc.	6.250	%	6/20/16		310		326
The Travelers Cos. Inc.	6.250	%	3/15/67		380		375	^C
Willis North America Inc.	5.125	%	7/15/10		280		275
Willis North America Inc.	5.625	%	7/15/15		230		222

							3,573

IT Services — 0.7%
Electronic Data Systems Corp.	7.125	%	10/15/09		600		626
Electronic Data Systems Corp.	7.450	%	10/15/29		420		458

							1,084

Media — 3.7%
AMFM Inc.	8.000	%	11/1/08		210		218
Clear Channel Communications Inc.	5.500	%	9/15/14		365		323
Comcast Cable Holdings LLC	9.800	%	2/1/12		375		444	^A
Comcast Corp.	7.050	%	3/15/33		160		172
Comcast Corp.	6.450	%	3/15/37		380		380
Cox Communications Inc.	4.625	%	1/15/10		510		503
Liberty Media LLC	8.500	%	7/15/29		130		133
Liberty Media LLC	8.250	%	2/1/30		65		65	^A
News America Inc.	6.550	%	3/15/33		545		557
TCI Communications Inc.	8.750	%	8/1/15		160		189
Time Warner Entertainment Co. LP	8.375	%	7/15/33		530		644
Time Warner Inc.	9.125	%	1/15/13		240		281
Time Warner Inc.	7.700	%	5/1/32		595		675
Viacom Inc.	5.750	%	4/30/11		350		355
Viacom Inc.	5.625	%	8/15/12		520		522

							5,461

Metals and Mining — 1.0%
Freeport-McMoRan Copper & Gold Inc.	8.375	%	4/1/17		1,400		1,514

Multi-Utilities — 2.1%
Centerpoint Energy Inc.	6.850	%	6/1/15		1,150		1,220
Dominion Resources Inc	5.150	%	7/15/15		560		545	^A
DTE Energy Co.	6.375	%	4/15/33		330		339
Sempra Energy	5.830	%	5/21/08		635		635	^B
Xcel Energy Inc.	7.000	%	12/1/10		350		371

							3,110

Multiline Retail — 0.5%
Federated Retail Holdings Inc.	5.350	%	3/15/12		110		110
May Department Stores Co.	5.750	%	7/15/14		400		397	^A


May Department Stores Co.	6.700	%	7/15/34	$	180	$	177	^A

							684

Oil, Gas and Consumable Fuels — 8.5%
Anadarko Petroleum Corp.	5.950	%	9/15/16		130		130
Conoco Inc.	6.950	%	4/15/29		210		238
ConocoPhillips	4.750	%	10/15/12		200		197
Devon Financing Corp. ULC	7.875	%	9/30/31		350		415
Duke Capital LLC	6.250	%	2/15/13		1,200		1,229
El Paso Corp.	7.800	%	8/1/31		2,000		2,210	^A
Hess Corp.	7.875	%	10/1/29		1,450		1,673
Kerr-McGee Corp.	6.950	%	7/1/24		300		316
Kerr-McGee Corp.	7.875	%	9/15/31		1,315		1,529
Kinder Morgan Energy Partners LP	7.125	%	3/15/12		530		568
Occidental Petroleum Corp.	6.750	%	1/15/12		500		536	^A
Peabody Energy Corp.	6.875	%	3/15/13		285		290
Pemex Project Funding Master Trust	6.625	%	6/15/35		1,150		1,185
The Williams Cos. Inc.	7.500	%	1/15/31		102		108
The Williams Cos. Inc.	8.750	%	3/15/32		1,250		1,441
Valero Energy Corp.	6.875	%	4/15/12		215		229
XTO Energy Inc.	6.100	%	4/1/36		440		426

							12,720

Paper and Forest Products — 0.8%
Georgia-Pacific Corp.	9.500	%	12/1/11		325		361
Georgia-Pacific Corp.	7.375	%	12/1/25		250		241
Weyerhaeuser Co.	6.750	%	3/15/12		635		667

							1,269

Pharmaceuticals — 0.6%
Wyeth	6.950	%	3/15/11		680		723
Wyeth	5.950	%	4/1/37		170		167

							890

Real Estate Investment Trusts — 0.5%
Health Care REIT Inc.	5.875	%	5/15/15		130		129
iStar Financial Inc.	5.950	%	10/15/13		590		597

							726

Real Estate Management and Development — 0.2%
Forest City Enterprises Inc.	7.625	%	6/1/15		225		229
Socgen Real Estate Co. LLC	7.640	%	12/29/49		80		81	^C,D

							310

Thrifts and Mortgage Finance — 0.5%
BB&T Capital Trust II	6.750	%	6/7/36		640		689

Tobacco — 1.2%
Altria Group Inc.	7.000	%	11/4/13		305		331
Reynolds American Inc.	7.250	%	6/1/12		1,360		1,425	^A

							1,756


Wireless Telecommunication Services — 2.1%
New Cingular Wireless Services Inc.	8.125	%	5/1/12	$	155	$	174
New Cingular Wireless Services Inc.	8.750	%	3/1/31		475		613
Nextel Communications Inc.	5.950	%	3/15/14		88		87
Nextel Communications Inc.	7.375	%	8/1/15		285		295
Sprint Capital Corp.	8.750	%	3/15/32		1,380		1,628
Sprint Nextel Corp.	6.000	%	12/1/16		360		354

							3,151

Total Corporate Bonds and Notes (Cost — $101,030)							104,605
U.S. Government and Agency Obligations — 2.3%
Fixed Rate Securities — 2.3%
United States Treasury Notes	4.625	%	12/31/11		230		231	^A
United States Treasury Notes	4.750	%	1/31/12		2,920		2,945	^A
United States Treasury Notes	4.625	%	2/29/12		260		261

Total U.S. Government and Agency Obligations (Cost — $3,415)							3,437
U.S. Government Agency Mortgage-Backed Securities — N.M.
Fixed Rate Securities — N.M.
Freddie Mac	10.250	%	5/1/09		8		8

Total U.S. Government Agency Mortgage-Backed Securities (Cost — $7)							8
Yankee Bonds^E — 24.0%
Aerospace and Defense — 0.3%
Systems 2001 Asset Trust	6.664	%	9/15/13		422		445	^D

Beverages — 0.3%
Molson Coors Capital Finance	4.850	%	9/22/10		480		473

Commercial Banks — 9.0%
AES El Salvador Trust	6.750	%	2/1/16		750		750	^D
ATF Capital BV	9.250	%	2/21/14		810		791	^A,D
Banco Mercantil del Norte SA	6.135	%	10/13/16		750		756	^C,D
Glitnir Banki Hf	6.330	%	7/28/11		400		415	^D
Glitnir Banki Hf	6.693	%	6/15/16		680		713	^C,D
Glitnir Banki Hf	7.451	%	12/14/49		210		225	^C,D
HBOS Capital Funding LP	6.071	%	6/30/49		560		571	^C,D
HBOS Treasury Services PLC	4.000	%	9/15/09		420		410	^D
ICICI Bank Ltd.	6.375	%	4/30/22		200		198	^C,D
Kaupthing Bank Hf	6.050	%	4/12/11		540		545	^B,D
Kaupthing Bank Hf	5.750	%	10/4/11		480		484	^D
Kaupthing Bank Hf	7.125	%	5/19/16		1,250		1,352	^D
Mizuho Financial Group	5.790	%	4/15/14		1,100		1,121	^D
Resona Preferred Global Securities	7.191	%	12/29/49		1,035		1,093	^C,D
RSHB Capital SA	7.175	%	5/16/13		1,340		1,415	^D
Shinsei Finance Cayman Ltd.	6.418	%	1/29/49		1,100		1,111	^C,D
Sumitomo Mitsui Banking Corp.	5.625	%	12/31/49		270		266	^C,D
TuranAlem Finance BV	8.250	%	1/22/37		740		744	^D
VTB Capital SA for Vneshtorgbank	5.960	%	8/1/08		560		560	^B,D

							13,520


Consumer Finance — 0.7%
Aiful Corp.	6.000	%	12/12/11	$	995	$	1,010	^D

Diversified Financial Services — 0.8%
SMFG Preferred Capital	6.078	%	1/29/49		380		381	^C,D
TNK-BP Finance SA	7.500	%	7/18/16		360		380	^D
UFJ Finance Aruba AEC	6.750	%	7/15/13		355		382

							1,143

Diversified Telecommunication Services — 2.7%
British Telecommunications PLC	9.125	%	12/15/30		330		453	^F
Deutsche Telekom International Finance BV	5.750	%	3/23/16		160		160
Deutsche Telekom International Finance BV	8.250	%	6/15/30		500		619
France Telecom SA	8.500	%	3/1/31		560		728
Koninklijke (Royal) KPN NV	8.375	%	10/1/30		240		272
Tele Norte Leste Participacoes SA	8.000	%	12/18/13		410		439	^G
Telecom Italia Capital	7.200	%	7/18/36		760		791
Telefonica Emisiones S.A.U	7.045	%	6/20/36		600		641

							4,103

Electric Utilities — 0.6%
Enersis SA	7.375	%	1/15/14		317		344	^A
Enersis SA/Cayman Island	7.400	%	12/1/16		452		498

							842

Foreign Government — 3.1%
Federative Republic of Brazil	7.125	%	1/20/37		120		133	^A
Federative Republic of Brazil	11.000	%	8/17/40		340		459	^A
Quebec Province	7.970	%	7/22/36		650		889	^C
Republic of Colombia	7.375	%	9/18/37		100		109
Republic of Panama	7.125	%	1/29/26		150		162
Republic of Panama	9.375	%	4/1/29		14		19	^A
Republic of Panama	6.700	%	1/26/36		141		146	^A
Russian Federation	5.000	%	3/31/30		590		669	^C,D
United Mexican States	6.750	%	9/27/34		1,825		1,990

							4,576

Industrial Conglomerates — 1.0%
Tyco International Group SA	6.375	%	10/15/11		1,450		1,532

Insurance — 0.6%
Axa	8.600	%	12/15/30		550		701
XL Capital Ltd.	5.250	%	9/15/14		250		245

							946

Media — 0.2%
British Sky Broadcasting Group PLC	6.875	%	2/23/09		330		339

Metals and Mining — 0.8%
Vale Overseas Ltd.	6.250	%	1/23/17		563		574
Vale Overseas Ltd.	6.875	%	11/21/36		608		628

							1,202


Oil, Gas and Consumable Fuels — 3.7%
Conoco Funding Co.	6.350	%	10/15/11	$	470	$	494
Gazprom	9.625	%	3/1/13		50		59	^D
Gazprom	9.625	%	3/1/13		20		24	^D
Gazprom	6.212	%	11/22/16		450		450	^D
Gazprom	6.510	%	3/7/22		400		406	^D
Petrobras International Finance Co.	6.125	%	10/6/16		825		841
Petrozuata Finance Inc.	8.220	%	4/1/17		3,205		3,221	^D

							5,495

Wireless Telecommunication Services — 0.2%
Rogers Wireless Inc.	6.375	%	3/1/14		300		307

Total Yankee Bonds (Cost — $34,220)							35,933
Total Long-Term Securities (Cost — $138,672)							143,983
Investment of Collateral From Securities Lending — 14.3%
State Street Navigator Securities Lending Prime Portfolio					21,449		21,449

Total Investment of Collateral From Securities Lending (Cost — $21,449)							21,449
Total Investments — 110.6% (Cost — $160,121)							165,432
Obligation to Return Collateral For Securities Loaned — (14.3)%							(21,449	)
Other Assets Less Liabilities — 3.7%							5,536

Net Assets — 100.0%						$	149,519

N.M. Not Meaningful.

A	All or a portion of this security is on loan.

B	Indexed Security - The rates of interest earned on these securities are tied to the London Interbank Offered Rate (“LIBOR”), the Consumer Price Index (“CPI”), or the one-year Treasury Bill Rate. The coupon rates are the rates as of March 31, 2007.

C	Stepped Coupon Security - A security with a predetermined schedule of interest or dividend rate changes at which time it begins to accrue interest or pay dividends according to the predetermined schedule.

D	Rule 144a Security - A security purchased pursuant to Rule 144a under the Securities Act of 1933 which may not be resold subject to that rule except to qualified institutional buyers. These securities, which the Fund’s investment adviser has determined to be liquid, represent 20.11% of net assets.

E	Yankee Bond - A dollar-denominated bond issued in the U.S. by foreign entities.

F	Credit Linked Security - The rates of interest earned on these securities are tied to the credit rating assigned by Standard & Poor’s Rating Service and/or Moody’s Investors Services.

G	Illiquid security valued at fair value under the procedures approved by the Board of Directors.

Security Valuation

The Fund’s securities are valued on the basis of readily available market quotations or, lacking such quotations, at fair value as determined under policies approved by and under the general oversight of the Board of Directors. In determining fair value, all relevant qualitative and quantitative factors available are considered. These factors are subject to change over time and are reviewed periodically. The Fund may use fair value pricing instead of market quotations to value one or more securities if the Fund believes that, because of special circumstances, doing so would more accurately reflect the prices the Fund expects to realize on the current sale of those securities. Further, because of the inherent uncertainty of valuation, those estimated values may differ significantly from quoted or published values or from the values that would have been used had a ready market for the investments existed, and the differences could be material.

Securities Lending

The Fund may lend its securities to approved brokers to earn additional income, and will receive cash and U.S. government securities as collateral against the loans. Cash collateral received is invested in a money market pooled account by the Fund’s lending agent. Collateral is maintained over the life of the loan in an amount not less than 100% of the value of the loaned securities. At March 31, 2007, the market value of the securities on loan to broker-dealers was $21,011 for which the fund received collateral of $21,449 in cash. Such collateral is in the possession of the Fund’s custodian. The cash invested in the State Street Navigator Securities Lending Prime Portfolio is included in the Fund’s portfolio of investments. As with other extensions of credit, the Fund may bear the risk of delay in recovery or even loss of rights to the collateral should the borrower of the securitities fail financially.

Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

Item 2 – Controls and Procedures

(a)

Western Asset Income Fund (the “Registrant”) principal executive and principal financial officers have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant’s disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods in the Securities and Exchange Commission’s rules and forms and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b)

There were no changes in the Registrant’s internal control over financial reporting during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the internal control over financial reporting.

Item 3 – Exhibits

Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 – filed as an exhibit hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Western Asset Income Fund


By:		/s/ R. Jay Gerken
		R. Jay Gerken
		President
		Western Asset Income Fund

Date: May 29, 2007

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


By:		/s/ R. Jay Gerken
		R. Jay Gerken
		President
		Western Asset Income Fund

Date: May 29, 2007


By:		/s/ Marie K. Karpinski
		Marie K. Karpinski
		Principal Financial and Accounting Officer
		Western Asset Income Fund

Date: May 23, 2007