Investment Company Act file number

811-07362

Western Asset Municipal Partners Fund Inc.

(Exact name of registrant as specified in charter)

55 Water Street, New York, NY

10041

(Address of principal executive offices)

(Zip code)

Robert I. Frenkel, Esq.
Legg Mason & Co., LLC
100 First Stamford Place
Stamford, CT 06902

(Name and address of agent for service)

Registrant’s telephone number, including area code:

(888)777-0102

Date of fiscal year end:

November 30

Date of reporting period:

August 31, 2010

SECURITY

RATE

MATURITY
DATE

FACE
AMOUNT

VALUE

MUNICIPAL BONDS — 96.1%

Arizona — 1.7%

Glendale, AZ, Transportation Excise Tax Revenue, NATL

5.000%

7/1/28

$

2,855,000

$

3,073,408

Phoenix, AZ, Civic Improvement Corp., Water System Revenue

5.000%

7/1/29

1,000,000

1,106,620

Total Arizona

4,180,028

California — 13.8%

California Health Facilities Finance Authority Revenue, Catholic Healthcare West

5.625%

7/1/32

5,000,000

5,188,600

California Housing Finance Agency Revenue, Home Mortgage

4.800%

8/1/37

2,000,000

1,645,240

(a)

California State, GO

5.250%

10/1/21

2,500,000

2,892,400

California State, GO, Unrefunded Balance

5.125%

6/1/24

35,000

35,576

California Statewide CDA Revenue, Insured Health Facility L.A., Jewish Home, CA, Mortgage Insurance

5.000%

11/15/28

1,500,000

1,524,810

Los Angeles, CA, Department of Water & Power Revenue, Power Systems, Subordinated, AGM

5.000%

7/1/35

5,000,000

5,259,850

M-S-R Energy Authority, CA, Gas Revenue

7.000%

11/1/34

2,490,000

3,027,765

M-S-R Energy Authority, CA, Gas Revenue

6.500%

11/1/39

3,000,000

3,486,540

Southern California Public Power Authority, Project Number 1

5.000%

11/1/33

2,000,000

1,928,100

Turlock, CA, Irrigation District Revenue

5.000%

1/1/35

2,500,000

2,611,650

Turlock, CA, Public Financing Authority, Tax Allocation Revenue, AGM

5.000%

9/1/30

2,500,000

2,546,100

University of California Revenues, AMBAC

5.000%

5/15/36

2,620,000

2,704,574

Total California

32,851,205

Colorado — 5.2%

Colorado Health Facilities Authority Revenue:

Poudre Valley Health Care

5.000%

3/1/25

2,850,000

2,908,567

Sisters of Charity Leavenworth Health System Inc.

5.250%

1/1/25

3,500,000

3,809,190

Colorado Springs, CO, Hospital Revenue

6.375%

12/15/30

495,000

508,306

(b)

Public Authority for Colorado Energy, Natural Gas Purchase Revenue

5.750%

11/15/18

480,000

516,298

Public Authority for Colorado Energy, Natural Gas Purchase Revenue

6.500%

11/15/38

4,000,000

4,588,360

Total Colorado

12,330,721

Connecticut — 0.3%

Connecticut State HFA, Housing Mortgage Finance Program

6.000%

11/15/38

635,000

669,804

Florida — 6.0%

Florida State Board of Education, GO

5.000%

6/1/26

5,500,000

6,383,355

(c)

Miami-Dade County, FL, Aviation Revenue, Miami International Airport, AGM

5.000%

10/1/41

1,000,000

1,022,630

Orlando & Orange County, FL, Expressway Authority Revenue

5.000%

7/1/30

2,000,000

2,129,300

Orlando, FL, Utilities Commission, Utility System Revenue

5.250%

10/1/22

3,440,000

4,278,569

Seminole Tribe Florida Special Obligation Revenue

5.250%

10/1/27

500,000

463,270

(d)

Total Florida

14,277,124

Illinois — 11.8%

Chicago, IL, Midway Airport Revenue:

NATL

5.500%

1/1/29

2,000,000

2,001,560

NATL

5.625%

1/1/29

3,750,000

3,751,650

(a)

Chicago, IL, Park District, GO, Refunding, FGIC

5.000%

1/1/29

5,000,000

5,363,950

Chicago, IL, Public Building Commission, Building Revenue, Chicago School Reform, FGIC

5.250%

12/1/18

1,000,000

1,176,800

SECURITY

RATE

MATURITY
DATE

FACE
AMOUNT

VALUE

Illinois — continued

Cook County, IL, Community College District No. 524 Moraine Valley, GO, NATL

5.000%

12/1/25

$

1,500,000

$

1,659,990

Illinois EFA Revenue, Northwestern University

5.500%

12/1/13

2,000,000

2,178,120

Illinois Health Facilities Authority Revenue:

Refunding, Lutheran General Health System

7.000%

4/1/14

1,450,000

1,615,474

Refunding, SSM Health Care, NATL

6.550%

6/1/13

1,850,000

2,143,651

(e)

Servantoor Project, AGM

6.000%

8/15/12

1,370,000

1,432,198

(e)

South Suburban Hospital Project

7.000%

2/15/18

555,000

665,378

(e)

Illinois Municipal Electric Agency Power Supply, FGIC

5.250%

2/1/28

4,145,000

4,457,118

Illinois State, GO, First Series, AGM

5.500%

5/1/16

1,500,000

1,713,975

Total Illinois

28,159,864

Indiana — 1.3%

Indiana Bond Bank Revenue

5.000%

8/1/23

715,000

746,160

(b)

Indiana Health Facility Financing Authority, Hospital Revenue, Community Hospital Project, AMBAC

5.000%

5/1/35

2,390,000

2,341,722

Total Indiana

3,087,882

Maryland — 3.3%

Maryland State Economic Development Corp., EDR, Transportation Facilities Project

5.750%

6/1/35

1,000,000

1,044,650

Maryland State Health & Higher EFA Revenue:

Carroll County General Hospital

6.000%

7/1/37

3,000,000

3,067,830

Suburban Hospital

5.500%

7/1/16

2,500,000

2,738,525

University of Maryland Medical Systems

6.000%

7/1/32

1,000,000

1,101,490

(b)

Total Maryland

7,952,495

Massachusetts — 1.7%

Massachusetts State HEFA Revenue, Partners Health

5.750%

7/1/32

2,405,000

2,536,024

(b)

Massachusetts State HEFA Revenue, Partners Health, Unrefunded Balance

5.750%

7/1/32

95,000

97,019

Massachusetts State Water Pollution Abatement Trust Revenue, MWRA Program, Unrefunded Balance

5.750%

8/1/29

355,000

356,182

Massachusetts State Water Resources Authority, NATL

5.000%

8/1/34

1,000,000

1,078,610

Total Massachusetts

4,067,835

Michigan — 4.8%

Detroit, MI, GO, District State Aid

5.250%

11/1/24

3,500,000

3,780,175

Michigan State Hospital Finance Authority Revenue:

McLaren Health Care Corp.

5.750%

5/15/38

2,000,000

2,105,160

Refunding, Sparrow Hospital Obligated

5.000%

11/15/36

2,500,000

2,471,025

Trinity Health

5.375%

12/1/30

3,000,000

3,043,080

Total Michigan

11,399,440

Missouri — 0.9%

Boone County, MO, Hospital Revenue, Boone Hospital Center

5.375%

8/1/38

2,000,000

2,041,860

Nevada — 0.9%

Clark County, NV, GO, AMBAC

5.000%

11/1/21

2,000,000

2,224,600

New Jersey — 2.2%

New Jersey EDA, PCR, Revenue, Public Service Electric and Gas Co. Project, NATL

6.400%

5/1/32

5,150,000

5,169,210

(a)

New York — 12.7%

Brooklyn Arena, NY, Local Development Corp., Barclays Center Project

6.250%

7/15/40

1,000,000

1,066,440

Liberty, NY, Development Corporation Revenue, Goldman Sachs Headquarters

5.250%

10/1/35

2,000,000

2,124,300

SECURITY

RATE

MATURITY
DATE

FACE
AMOUNT

VALUE

New York — continued

Nassau County, NY, Industrial Development Agency Revenue, Continuing Care Retirement, Amsterdam at Harborside

6.700%

1/1/43

$

500,000

$

505,115

New York City, NY, GO, Unrefunded Balance

6.000%

5/15/30

20,000

20,239

New York City, NY, TFA Revenue, Unrefunded Balance, Future Tax Secured

5.500%

11/15/17

4,115,000

4,567,444

New York Liberty Development Corp., Liberty Revenue Refunding, Second Priority, Bank of America Tower

5.125%

1/15/44

5,000,000

5,147,750

New York State Dormitory Authority Revenue, Court Facilities Lease, NYC Issue, Non State Supported Debt, AMBAC

5.500%

5/15/30

3,365,000

3,982,107

New York State Dormitory Authority Revenue, Non-State Supported Debt, Columbia University

5.000%

7/1/38

2,000,000

2,195,160

New York State Thruway Authority, Second General Highway & Bridge Trust Fund, AMBAC

5.000%

4/1/26

4,700,000

5,203,981

New York State Urban Development Corp. Revenue, State Personal Income Tax

5.000%

3/15/26

5,000,000

5,548,550

Total New York

30,361,086

North Carolina — 3.2%

North Carolina Medical Care Commission Health Care Facilities Revenue, Novant Health Obligation Group

5.000%

11/1/39

1,200,000

1,235,148

Wake County, NC, GO

5.000%

3/1/23

5,000,000

6,309,750

Total North Carolina

7,544,898

Ohio — 0.5%

Ohio State Air Quality Development Authority Revenue, FirstEnergy Generation Corp.

5.700%

8/1/20

1,000,000

1,106,020

Oregon — 0.6%

Multnomah County, OR, Hospital Facilities Authority Revenue, Providence Health Systems

5.250%

10/1/18

1,250,000

1,371,763

Pennsylvania — 1.7%

Pennsylvania Economic Development Financing Authority, Sewer Sludge Disposal Revenue, Philadelphia Biosolids Facility

6.250%

1/1/32

500,000

542,990

Philadelphia, PA, Gas Works Revenue, 7th General Ordinance, AMBAC

5.000%

10/1/17

2,685,000

2,990,660

Philadelphia, PA, School District, GO, AGM

5.500%

2/1/31

500,000

536,360

(b)

Total Pennsylvania

4,070,010

Puerto Rico — 1.3%

Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue

5.500%

8/1/42

3,000,000

3,187,740

Tennessee — 2.2%

Memphis-Shelby County, TN, Airport Authority Revenue, AMBAC

6.000%

3/1/24

1,655,000

1,671,517

(a)

Tennessee Energy Acquisition Corp., Gas Revenue

5.000%

2/1/20

3,555,000

3,640,640

Total Tennessee

5,312,157

Texas — 13.9%

Aledo, TX, GO, ISD, School Building, PSF

5.000%

2/15/30

5,000,000

5,306,500

Austin, TX, Water & Wastewater System Revenue

5.000%

11/15/26

2,500,000

2,839,000

Austin, TX, Water & Wastewater System Revenue

5.125%

11/15/28

2,210,000

2,494,007

Beaumont, TX, ISD, GO, School Building, PSF

5.000%

2/15/33

1,100,000

1,174,855

Brazos River, TX, Harbor Navigation District, Brazoria County Environmental, Dow Chemical Co. Project

5.950%

5/15/33

4,750,000

4,957,955

(a)(f)

Harris County, TX, Health Facilities Development Corp., Hospital Revenue, Memorial Hermann Healthcare Systems

5.250%

12/1/18

2,960,000

3,151,690

SECURITY

RATE

MATURITY
DATE

FACE
AMOUNT

VALUE

Texas — continued

Kemp, TX, ISD, GO, School Building

5.250%

2/15/33

$

3,450,000

$

3,766,675

Mesquite, TX, ISD No. 1, GO, Capital Appreciation, PSFG

0.000%

8/15/27

1,000,000

444,620

North Texas Tollway Authority Revenue

5.750%

1/1/40

2,500,000

2,676,950

Spring, Tex, ISD, GO, SchoolHouse, PSF

5.000%

8/15/23

1,000,000

1,155,810

Texas State Turnpike Authority Revenue, First Tier, AMBAC

5.500%

8/15/39

5,000,000

5,099,700

Total Texas

33,067,762

Washington — 4.7%

Chelan County, WA, Public Utility District, Chelan Hydro System No.1, Construction Revenue, AMBAC

5.450%

7/1/37

2,900,000

2,926,854

(a)

Port of Seattle, WA, Revenue, Refunding, Intermediate Lien, NATL

5.000%

3/1/30

2,000,000

2,092,420

Washington State Health Care Facilities Authority Revenue, PeaceHealth

5.000%

11/1/28

3,000,000

3,134,340

Washington State, GO

5.000%

8/1/22

2,590,000

3,114,915

Total Washington

11,268,529

Wisconsin — 1.4%

Wisconsin State HEFA Revenue, SSM Health Care Corp.

5.000%

6/1/25

3,110,000

3,369,187

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost — $216,853,727)

229,071,220

SHORT-TERM INVESTMENTS— 3.9%

California — 1.8%

California Health Facilities Finance Authority Revenue, Hospital Adventist Health Systems, LOC-Wells Fargo Bank N.A.

0.190%

9/1/25

4,300,000

4,300,000

(g)(h)

Illinois — 0.4%

Illinois Development Finance Authority Revenue, Evanston Northwestern, SPA-JPMorgan Chase

0.230%

5/1/31

1,100,000

1,100,000

(g)(h)

New York — 1.5%

New York City, NY, Municipal Water Finance Authority, Water & Sewer System Revenue, SPA-Landesbank Hessen-Thuringen

0.280%

6/15/39

3,600,000

3,600,000

(g)(h)

Virginia — 0.2%

Virginia Commonwealth University, VA, AMBAC, LOC-Wells Fargo Bank N.A.

0.230%

11/1/30

400,000

400,000

(g)(h)

TOTAL SHORT-TERM INVESTMENTS (Cost — $9,400,000)

9,400,000

TOTAL INVESTMENTS — 100.0% (Cost — $226,253,727#)

$

 238,471,220

(a)

Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax (“AMT”).

(b)

Pre-Refunded bonds are escrowed with U.S. government obligations and/or U.S. government agency securities and are considered by the manager to be triple-A rated even if issuer has not applied for new ratings.

(c)

Security is purchased on a when-issued basis.

(d)

Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors, unless otherwise noted.

(e)

Bonds are escrowed to maturity by government securities and/or U.S. government agency securities and are considered by the manager to be triple-A rated even if issuer has not applied for new ratings.

(f)

Variable rate security. Interest rate disclosed is that which is in effect at August 31, 2010.

(g)

Variable rate demand obligations have a demand feature under which the Fund can tender them back to the issuer or liquidity provider on no more than 7 days notice.

(h)

Maturity date shown is the final maturity date. The security may be sold back to the issuer before final maturity.

#

Aggregate cost for federal income tax purposes is substantially the same.

Abbreviations used in this schedule:

AGM

- Assured Guaranty Municipal Corporation - Insured Bonds

AMBAC

- American Municipal Bond Assurance Corporation - Insured Bonds

CDA

- Communities Development Authority

EDA

- Economic Development Authority

EDR

- Economic Development Revenue

EFA

- Educational Facilities Authority

FGIC

- Financial Guaranty Insurance Company - Insured Bonds

GO

- General Obligation

HEFA

- Health & Educational Facilities Authority

HFA

- Housing Finance Authority

ISD

- Independent School District

LOC

- Letter of Credit

MWRA

- Massachusetts Water Resources Authority

NATL

- National Public Finance Guarantee Corporation - Insured Bonds

PCR

- Pollution Control Revenue

PSF

- Permanent School Fund

PSFG

- Permanent School Fund Guaranty

SPA

- Standby Bond Purchase Agreement - Insured Bonds

TFA

- Transitional Finance Authority

Health Care

19.2

%

Local General Obligation

15.8

Power

12.0

Special Tax Obligation

10.6

Industrial Revenue

10.2

Transportation

9.0

Water & Sewer

5.5

Pre-Refunded/Escrowed to Maturity

4.0

State General Obligation

3.2

Education

3.0

Leasing

2.2

Housing

1.0

Solid Waste/Resource Recovery

0.2

Other

0.2

Short-Term Investments

3.9

100.0

%

S&P/Moody’s/Fitch**

AAA/Aaa

27.8

%

AA/Aa

29.7

A

30.9

BBB/Baa

7.2

NR

0.5

A-1/VMIG 1

3.9

100.0

%

AAA

—

An obligation rated “AAA” has the highest rating assigned by Standard & Poor’s. The obligor’s capacity to meet its financial commitment on the obligation is extremely strong.

AA

—

An obligation rated “AA” differs from the highest-rated obligations only to a small degree. The obligor’s capacity to meet its financial commitment on the obligation is very strong.

A

—

An obligation rated “A” is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher-rated categories. However, the obligor’s capacity to meet its financial commitment on the obligation is still strong.

BBB

—

An obligation rated “BBB” exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitment on the obligation.

BB, B,
CCC,
CC and C

—

Obligations rated “BB”, “B”, “CCC”, “CC” and “C” are regarded as having significant speculative characteristics. “BB” indicates the least degree of speculation and “C” the highest. While such obligations will likely have some quality and protective characteristics, these may be outweighed by large uncertainties or major exposures to adverse conditions.

D

—

An obligation rated “D” is in payment default. The “D” rating category is used when payments on an obligation, including a regulatory capital instrument, are not made on the date due even if the applicable grace period has not expired, unless Standard & Poor’s believes that such payments will be made during such grace period. The “D” rating also will be used upon the filing of a bankruptcy petition or the taking of similar action if payments on an obligation are jeopardized. An obligation’s rating is lowered to “D” upon completion of a distressed exchange offer, whereby some or all of the issue is either repurchased for an amount of cash or replaced by other instruments having a total value that is less than par.

Aaa

—

Bonds rated “Aaa” are judged to be of the highest quality, with minimal credit risk.

Aa

—

Obligations rated “Aa” are judged to be of high quality and are subject to very low credit risk.

A

—

Obligations rated “A” are considered upper-medium grade and are subject to low credit risk.

Baa

—

Obligations rated “Baa” are subject to moderate credit risk. They are considered medium grade and as such may possess certain speculative characteristics.

Ba

—

Obligations rated “Ba” are judged to have speculative elements and are subject to substantial credit risk.

B

—

Obligations rated “B” are considered speculative and are subject to high credit risk.

Caa

—

Obligations rated “Caa” are judged to be of poor standing and are subject to very high credit risk.

Ca

—

Obligations rated “Ca” are highly speculative and are likely in, or very near, default, with some prospect of recovery for principal and interest.

C

—

Obligations rated “C” are the lowest rated class of bonds and are typically in default, with little prospect of recovery for principal and interest.

AAA

—

Bonds rated “AAA” by Fitch denote the lowest expectation of default risk. They are assigned only in cases of exceptionally strong capacity for payment of financial commitments. This capacity is highly unlikely to be adversely affected by foreseeable events.

AA

—

Bonds rated “AA” denote expectations of very low default risk. They indicate very strong capacity for payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events.

A

—

Bonds rated “A” denote expectations of low default risk. The capacity for payment of financial commitments is considered strong. This capacity may, nevertheless, be more vulnerable to adverse business or economic conditions than is the case for higher ratings.

BBB

—

Bonds rated “BBB” indicate that expectations of default risk are currently low. The capacity for payment of financial commitments is considered adequate but adverse business or economic conditions are more likely to impair this capacity.

BB, B,
CCC,
CC and C

—

Bonds rated “BB”, “B”, “CCC”, “CC” and “C” are regarded, on balance, as predominantly speculative with respect to capacity to pay interest and repay principal in accordance with the terms of the obligation. “BB” represents a lower degree of speculation than “B”, and “C” the highest degree of speculation. While such bonds will likely have some quality and protective characteristics, these are outweighed by large uncertainties or major risk exposures to adverse conditions.

D

—

Bonds rated “D” indicate an issuer that in Fitch Ratings’ opinion has entered into bankruptcy filings, administration, receivership, liquidation or other formal winding-up procedure, or which has otherwise ceased business.

NR

—

indicates that the bond is not rated by Standard & Poor’s, Moody’s or Fitch.

SP-1

—

A short-term obligation rated “SP-1” is rated in the highest category by Standard & Poor’s. Strong capacity to pay principal and interest. An issue determined to possess a very strong capacity to pay debt service is given a plus (+) designation.

SP-2

—

A short-term obligation rated “SP-2” is a Standard & Poor’s rating indicating satisfactory capacity to pay principal and interest, with some vulnerability to adverse financial and economic changes over the term of the notes.

SP-3

—

A short-term obligation rated “SP-3” is a Standard & Poor’s rating indicating speculative capacity to pay principal and interest.

A-1

—

A short-term obligation rated “A-1” is rated in the highest category by Standard & Poor’s. The obligor’s capacity to meet its financial commitment on the obligation is strong. Within this category, certain obligations are designated with a plus sign (+). This indicates that the obligor’s capacity to meet its financial commitment on these obligations is extremely strong.

A-2

—

A short-term obligation rated “A-2” by Standard & Poor’s is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher rating categories. However, the obligor’s capacity to meet its financial commitment on the obligation is satisfactory.

A-3

—

A short-term obligation rated “A-3” by Standard & Poor’s exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitment on the obligation.

B

—

A short-term obligation rated “B” by Standard & Poor’s is regarded as having significant speculative characteristics. Ratings of “B-1”, “B-2” and “B-3” may be assigned to indicate finer distinctions within the “B” category. The obligor currently has the capacity to meet its financial commitment on the obligation; however, it faces major ongoing uncertainties which could lead to the obligor’s inadequate capacity to meet its financial commitment on the obligation.

VMIG 1

—

Moody’s highest rating for issues having a demand feature— VRDO. This designation denotes superior credit quality. Excellent protection is afforded by the superior short-term credit strength of the liquidity provider and structural and legal protections that ensure the timely payment of purchase price on demand.

VMIG 2

—

This designation denotes strong credit quality. Good protection is afforded by the strong short-term credit strength of the liquidity provider and structural and legal protections that ensure the timely payment of purchase price on demand.

VMIG 3

—

This designation denotes acceptable credit quality. Adequate protection is afforded by the strong short-term credit strength of the liquidity provider and structural and legal protections that ensure the timely payment of purchase price on demand.

MIG 1

—

Moody’s highest rating for short-term municipal obligations. This designation denotes superior credit quality. Excellent protection is afforded by established cash flows, highly reliable

liquidity support, or demonstrated broad-based access to the market for refinancing.

MIG 2

—

This designation denotes strong credit quality. Margins of protection are ample, although not as large as the preceding group.

MIG 3

—

This designation denotes acceptable credit quality. Liquidity and cash flow protection may be narrow, and market access for refinancing is likely to be less well-established.

SG

—

This designation denotes speculative-grade credit quality. Debt instruments in this category may lack sufficient margins of protection.

P-1

—

Moody’s highest rating for commercial paper and for VRDO prior to the advent of the VMIG 1 rating. Have a superior ability to repay short-term debt obligations.

P-2

—

Have a strong ability to repay short-term debt obligations.

P-3

—

Have an acceptable ability to repay short-term debt obligations.

NP

—

Issuers do not fall within any of the Prime rating categories.

F1

—

Fitch’s highest rating indicating the strongest capacity for timely payment of financial commitments; may have an added “+” to denote any exceptionally strong credit feature.

F2

—

Fitch rating indicating good intrinsic capacity for timely payment of financial commitments.

F3

—

Fitch rating indicating intrinsic capacity for timely payment of financial commitments is adequate.

QUOTED PRICES

OTHER
SIGNIFICANT
OBSERVABLE
INPUTS

SIGNIFICANT
UNOBSERVABLE
INPUTS

DESCRIPTION

(LEVEL 1)

(LEVEL 2)

(LEVEL 3)

TOTAL

Municipal bonds†

—

$

229,071,220

—

$

229,071,220

Short-term investments†

—

9,400,000

—

9,400,000

Total investments

—

$

238,471,220

—

$

238,471,220

Gross unrealized appreciation

$

12,490,579

Gross unrealized depreciation

(273,086

)

Net unrealized appreciation

$

12,217,493

Average market
value

Futures contracts (to sell)†

$

6,140,625

Western Asset Municipal Partners Fund Inc.

By

/s/ R. Jay Gerken

R. Jay Gerken

Chief Executive Officer

Date: October 25, 2010

By

/s/ R. Jay Gerken

R. Jay Gerken

Chief Executive Officer

Date: October 25, 2010

By

/s/ Kaprel Ozsolak

Kaprel Ozsolak

Chief Financial Officer

Date: October 25, 2010