Western Asset Variable Rate Strategic Fund Inc., which is listed on the New York Stock Exchange under the symbol “GFY”, announced today a monthly distribution of $0.0560per common share for November 2009. The distribution amount is unchanged from the prior month.

The distribution schedule appears below:

This press release is not for tax reporting purposes but is being provided to announce the amount of the Fund''s distributions that have been declared by the Board of Directors. In early 2010, after definitive information is available, the Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder''s tax return (e.g., ordinary income, long-term capital gain or return of capital).

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

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

All data and commentary provided within this press release is for informational purposes only. Legg Mason, Inc. and all of its affiliates do not engage in selling any of the shares of the Fund. The Fund''s common shares are traded on the New York Stock Exchange.

Contacts:

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