Securities and Exchange Commission 2008 – Federal Register Recent Federal Regulation Documents

On August 4, 2008 from 1 p.m. to 5 p.m., the Securities and Exchange Commission will hold a roundtable to discuss International Financial Reporting Standards (``IFRS'') and to update the Commission on IFRS developments, including the experience with use of IFRS during the recent period of market turmoil. The roundtable will be organized as two panels. The panels will include investors, issuers, auditors, and other parties with experience in IFRS reporting. Additionally, representatives from the Financial Accounting Standards Board and the International Accounting Standards Board will be present as observers. The roundtable will be held in the auditorium of SEC headquarters at 100 F Street, NE., Washington, DC. The roundtable will be open to the public with seating on a first-come, first-served basis. The roundtable discussions also will be available via webcast on the SEC's Web site at https://www.sec.gov. The roundtable agenda and other materials related to the roundtable, including a list of participants and moderators, will be accessible at https://www.sec.gov/spotlight/ ifrsroadmap.htm. The Commission welcomes feedback regarding any of the topics to be addressed at the roundtable.

Applicant seeks an order declaring that it has ceased to be an investment company. On April 16, 2007, each series of applicant transferred its assets to a corresponding series of either Legg Mason Partners Equity Trust or Legg Mason Partners Income Trust, based on net asset value. Expenses of approximately $1,016,235 incurred in connection with the reorganization were paid by applicant and Legg Mason, Inc., the parent of applicant's investment adviser. Filing Date: The application was filed on July 16, 2008. Applicant's Address: 55 Water St., New York, NY 10041.