Rule 17g-1 Filing for Registered Investment Companies

Very truly yours,

/s/ Thomas C. Mandia

Thomas C. Mandia

Assistant Secretary of each Fund

Jennifer L. Whitman

INSURED

Legg Mason Growth Trust

July 1, 2009 to July 1, 2010

              /S/ Matthew Link

Legg Mason Partners Equity Trust, a series fund consisting of:

Legg Mason Partners Equity Trust, a series fund consisting of:

•     Legg Mason Partners 130/30 U.S. Large Cap Equity Fund

•     Legg Mason Batterymarch 130/30 U.S. Large Cap Equity Fund

•     Legg Mason Partners Aggressive Growth Fund

•     Legg Mason ClearBridge Aggressive Growth Fund

•     Legg Mason Partners Appreciation Fund

•     Legg Mason ClearBridge Appreciation Fund

•     Legg Mason Partners Capital and Income Fund

•     Legg Mason ClearBridge Capital and Income Fund

•     Legg Mason Partners Capital Fund

•     Legg Mason ClearBridge Capital Fund

•     Legg Mason Partners Convertible Fund

•     Legg Mason ClearBridge Convertible Fund

•     Legg Mason Partners Diversified Large Cap Growth Fund

•     Legg Mason ClearBridge Diversified Large Cap Growth Fund

•     Legg Mason Partners Dividend Strategy Fund

•     Legg Mason ClearBridge Dividend Strategy Fund

•     Legg Mason Partners Emerging Markets Equity Fund

•     Legg Mason Esemplia Emerging Markets Equity Fund

•     Legg Mason Partners Equity Fund

•     Legg Mason ClearBridge Equity Fund

•     Legg Mason Partners Equity Income Builder Fund

•     Legg Mason ClearBridge Equity Income Builder Fund

•     Legg Mason Partners Financial Services Fund

•     Legg Mason Barrett Financial Services Fund

•     Legg Mason Partners Fundamental Value Fund

•     Legg Mason ClearBridge Fundamental Value Fund

•     Legg Mason Partners Global Equity Fund

•     Legg Mason Batterymarch Global Equity Fund

•     Legg Mason Partners International All Cap Opportunity Fund

•     Legg Mason Global Currents International All Cap Opportunity Fund

•     Legg Mason Partners Investors Value Fund

•     Legg Mason ClearBridge Investors Value Fund

•     Legg Mason Partners Large Cap Growth Fund

•     Legg Mason ClearBridge Large Cap Growth Fund

•     Legg Mason Partners Lifestyle Allocation 100%

•     Legg Mason Lifestyle Allocation 100%

•     Legg Mason Partners Lifestyle Allocation 30%

•     Legg Mason Lifestyle Allocation 30%

•     Legg Mason Partners Lifestyle Allocation 50%

•     Legg Mason Lifestyle Allocation 50%

•     Legg Mason Partners Lifestyle Allocation 70%

•     Legg Mason Lifestyle Allocation 70%

•     Legg Mason Partners Lifestyle Allocation 85%

•     Legg Mason Lifestyle Allocation 85%

•     Legg Mason Partners Lifestyle Income Fund

•     Legg Mason Lifestyle Income Fund

•     Legg Mason Partners Mid Cap Core Fund

•     Legg Mason ClearBridge Mid Cap Core Fund

•     Legg Mason Partners S&P 500 Index Fund

•     Legg Mason Batterymarch S&P 500 Index Fund

•     Legg Mason Partners Small Cap Growth Fund

•     Legg Mason ClearBridge Small Cap Growth Fund

•     Legg Mason Partners Small Cap Value Fund

•     Legg Mason ClearBridge Small Cap Value Fund

•     Legg Mason Partners Social Awareness Fund

•     Legg Mason Investment Counsel Social Awareness Fund

•     Legg Mason Partners Target Retirement 2015

•     Legg Mason Target Retirement 2015

•     Legg Mason Partners Target Retirement 2020

•     Legg Mason Target Retirement 2020

•     Legg Mason Partners Target Retirement 2025

•     Legg Mason Target Retirement 2025

•     Legg Mason Partners Target Retirement 2030

•     Legg Mason Target Retirement 2030

•     Legg Mason Partners Target Retirement 2035

•     Legg Mason Target Retirement 2035

•     Legg Mason Partners Target Retirement 2040

•     Legg Mason Target Retirement 2040

•     Legg Mason Partners Target Retirement 2045

•     Legg Mason Target Retirement 2045

•     Legg Mason Partners Target Retirement 2050

•     Legg Mason Target Retirement 2050

•     Legg Mason Partners Target Retirement Fund

•     Legg Mason Target Retirement Fund

•     Legg Mason Partners U.S. Large Cap Equity Fund

•     Legg Mason Batterymarch U.S. Large Cap Equity Fund

•     Legg Mason Partners All Cap Fund

•     Legg Mason Capital Management All Cap Fund

Legg Mason Partners Income Trust, a series fund consisting of:

Legg Mason Partners Income Trust, a series fund consisting of:

•     Legg Mason Partners California Municipals Fund

•     Legg Mason Western Asset California Municipals Fund

•     Legg Mason Partners Core Bond Fund

•     Legg Mason Western Asset Core Bond Fund

•     Legg Mason Partners Core Plus Bond Fund

•     Legg Mason Western Asset Core Plus Bond Fund

•     Legg Mason Partners Corporate Bond Fund

•     Legg Mason Western Asset Corporate Bond Fund

•     Legg Mason Partners Global High Yield Bond Fund

•     Legg Mason Western Asset Global High Yield Bond Fund

•     Legg Mason Partners Global Inflation Management Fund

•     Legg Mason Western Asset Global Inflation Management Fund

•     Legg Mason Partners Government Securities Fund

•     Legg Mason Western Asset Government Securities Fund

•     Legg Mason Partners High Income Fund

•     Legg Mason Western Asset High Income Fund

•     Legg Mason Partners Intermediate Maturity California Municipals Fund

•     Legg Mason Western Asset Intermediate Maturity California Municipals Fund

•     Legg Mason Partners Intermediate Maturity New York Municipals Fund

•     Legg Mason Western Asset Intermediate Maturity New York Municipals Fund

•     Legg Mason Partners Intermediate-Term Municipals Fund

•     Legg Mason Western Asset Intermediate-Term Municipals Fund

•     Legg Mason Partners Managed Municipals Fund

•     Legg Mason Western Asset Managed Municipals Fund

•     Legg Mason Partners Massachusetts Municipals Fund

•     Legg Mason Western Asset Massachusetts Municipals Fund

•     Legg Mason Partners Municipal High Income Fund

•     Legg Mason Western Asset Municipal High Income Fund

•     Legg Mason Partners New Jersey Municipals Fund

•     Legg Mason Western Asset New Jersey Municipals Fund

•     Legg Mason Partners New York Municipals Fund

•     Legg Mason Western Asset New York Municipals Fund

•     Legg Mason Partners Pennsylvania Municipals Fund

•     Legg Mason Western Asset Pennsylvania Municipals Fund

•     Legg Mason Partners Short Duration Municipal Income Fund

•     Legg Mason Western Asset Short Duration Municipal Income Fund

•     Legg Mason Partners Short-Term Bond Fund

•     Legg Mason Western Asset Short-Term Bond Fund

•     Legg Mason Partners Strategic Income Fund

•     Legg Mason Western Asset Strategic Income Fund

•     Legg Mason Partners Adjustable Rate Income Fund

•     Legg Mason Western Asset Adjustable Rate Income Fund

•     Legg Mason Partners Oregon Municipals Fund

•     Legg Mason Western Asset Oregon Municipals Fund

Legg Mason Charles Street Trust, Inc., a series fund consisting of:

Legg Mason Charles Street Trust, Inc., a series fund consisting of:

•     Batterymarch U.S. Small-Capitalization Equity Portfolio

•     Legg Mason Batterymarch U.S. Small Capitalization Equity Portfolio

Legg Mason Global Trust, Inc., a series fund consisting of:

Legg Mason Global Trust, Inc., a series fund consisting of:

•     Legg Mason Emerging Markets Trust

•     Legg Mason Batterymarch Emerging Markets Trust

•     Legg Mason International Equity Trust

•     Legg Mason Batterymarch International Equity Trust

Legg Mason Growth Trust, Inc., a series fund consisting of:

Legg Mason Growth Trust, Inc., a series fund consisting of:

•     Legg Mason Growth Trust, Inc.

•     Legg Mason Capital Management Growth Trust, Inc.

Legg Mason Investment Trust, Inc., a series fund consisting of:

Legg Mason Investment Trust, Inc., a series fund consisting of:

•     Legg Mason Opportunity Trust

•     Legg Mason Capital Management Opportunity Trust

Legg Mason Investors Trust, Inc., a series fund consisting of:

Legg Mason Investors Trust, Inc., a series fund consisting of:

•     Legg Mason American Leading Companies Trust

•     Legg Mason Capital Management American Leading Companies Trust

Legg Mason Special Investment Trust, Inc., a series fund consisting of:

Legg Mason Special Investment Trust, Inc., a series fund consisting of:

•     Legg Mason Special Investment Trust, Inc.

•     Legg Mason Capital Management Special Investment Trust, Inc.

Legg Mason Tax-Free Income Fund, a series fund consisting of:

Legg Mason Tax-Free Income Fund, a series fund consisting of:

•     Legg Mason Maryland Tax-Free Income Trust

•     Legg Mason Investment Counsel Maryland Tax-Free Income Trust

Legg Mason Value Trust, Inc., a series fund consisting of:

Legg Mason Value Trust, Inc., a series fund consisting of:

•     Legg Mason Value Trust, Inc.

•     Legg Mason Capital Management Value Trust, Inc.

Legg Mason Partners Institutional Trust, a series fund consisting of:

Legg Mason Partners Institutional Trust, a series fund consisting of:

•     SMASh Series C Fund

•     Legg Mason Western Asset SMASh Series C Fund

•     SMASh Series EC Fund

•     Legg Mason Western Asset SMASh Series EC Fund

•     SMASh Series M Fund

•     Legg Mason Western Asset SMASh Series M Fund

Legg Mason Partners Variable Equity Trust, a series fund consisting of:

Legg Mason Partners Variable Equity Trust, a series fund consisting of:

•     Legg Mason Partners Variable Global Equity Portfolio

•     Legg Mason Batterymarch Variable Global Equity Portfolio

•     Legg Mason Partners Variable Capital and Income Portfolio

•     Legg Mason ClearBridge Variable Equity Income Builder Portfolio

•     Legg Mason Partners Variable Lifestyle Allocation 50%

•     Legg Mason Variable Lifestyle Allocation 50%

•     Legg Mason Partners Variable Aggressive Growth Portfolio

•     Legg Mason ClearBridge Variable Aggressive Growth Portfolio

•     Legg Mason Partners Variable International All Cap Opportunity Portfolio

•     Legg Mason Global Currents Variable International All Cap Opportunity Portfolio

•     Legg Mason Partners Variable Appreciation Portfolio

•     Legg Mason ClearBridge Variable Appreciation Portfolio

•     Legg Mason Partners Variable Lifestyle Allocation 85%

•     Legg Mason Variable Lifestyle Allocation 85%

•     Legg Mason Partners Variable Lifestyle Allocation 70%

•     Legg Mason Variable Lifestyle Allocation 70%

•     Legg Mason Partners Variable Dividend Strategy Portfolio

•     Legg Mason ClearBridge Variable Dividend Strategy Portfolio

•     Legg Mason Partners Variable Large Cap Growth Portfolio

•     Legg Mason ClearBridge Variable Large Cap Growth Portfolio

•     Legg Mason Partners Variable Mid Cap Core Portfolio

•     Legg Mason ClearBridge Variable Mid Cap Core Portfolio

•     Legg Mason Partners Variable Social Awareness Portfolio

•     Legg Mason Investment Counsel Variable Social Awareness Portfolio

•     Legg Mason Partners Variable Investors Portfolio

•     Legg Mason ClearBridge Variable Investors Portfolio

•     Legg Mason Partners Variable Small Cap Growth Portfolio

•     Legg Mason ClearBridge Variable Small Cap Growth Portfolio

•     Legg Mason Partners Variable Fundamental Value Portfolio

•     Legg Mason ClearBridge Variable Fundamental Value Portfolio

•     Legg Mason Partners Variable Capital Portfolio

•     Legg Mason ClearBridge Variable Capital Portfolio

Legg Mason Partners Variable Income Trust, a series fund consisting of:

Legg Mason Partners Variable Income Trust, a series fund consisting of:

•     Legg Mason Partners Variable Diversified Strategic Income Portfolio

•     Legg Mason Western Asset Variable Diversified Strategic Income Portfolio

•     Legg Mason Partners Variable Money Market Portfolio

•     Legg Mason Western Asset Variable Money Market Portfolio

•     Legg Mason Partners Variable High Income Portfolio

•     Legg Mason Western Asset Variable High Income Portfolio

•     Legg Mason Partners Variable Strategic Bond Portfolio

•     Legg Mason Western Asset Variable Strategic Bond Portfolio

•     Legg Mason Partners Variable Global High Yield Bond Portfolio

•     Legg Mason Western Asset Variable Global High Yield Bond Portfolio

•     Legg Mason Partners Variable Adjustable Rate Income Portfolio

•     Legg Mason Western Asset Variable Adjustable Rate Income Portfolio

INSURED

BOND NUMBER

Legg Mason Growth Trust

July 1, 2009 to July 1, 2010

              /S/ Matthew Link

FUND NAME

EFFECTIVE DATE

Western Asset Global Corporate Defined Opportunity Fund, Inc.

September 18, 2009

Legg Mason Global Asset Management Trust, a series fund consisting of:

October 7, 2009

•     Legg Mason International Opportunities Bond Fund

•     Legg Mason Manager Select Large Cap Growth Fund

•     Legg Mason Manager Select Large Cap Value Fund

•     Legg Mason Strategic Real Return Fund, a series of:

November 5, 2009

Legg Mason Global Asset Management Trust

RESOLVED:

That each of the Funds and its Board Members be included as insured parties under a Directors and Officers/Errors and Omissions Liability Insurance Policy (the “Policy”) issued by ICI Mutual Insurance Company to certain investment companies in the Legg Mason Partners Funds complex, Legg Mason Funds complex, Western Asset Funds complex, Western Asset Claymore Funds complex and to Barrett Opportunity Fund Inc. to which the investment advisers, administrators, affiliated principal underwriter, Board Members and officers of such investment companies are parties, and which provides coverage to such parties against liabilities and expenses (with certain exceptions) arising out of claims, actions or proceedings asserted or threatened against them in their respective capacities for the investment companies; and be it

FURTHER RESOLVED:

That the portion of the aggregate premium for the Policy of $6,033,708 to be allocated to each of the Funds for the period October 7, 2009 through June 30, 2010, is fair and reasonable to each of the Funds; and be it

FURTHER RESOLVED:

That the purchase of the fidelity bond coverage with ICI Mutual Insurance Company for the period October 7, 2009 through June 30, 2010, which coverage is maintained jointly on behalf of each of the Funds and the other parties named as insureds therein, including investment companies in the Legg Mason Partners Funds complex, Legg Mason Funds complex, Western Asset Funds complex, Western Asset Claymore Funds complex and to Barrett Opportunity Fund Inc. and Barrett Growth Fund Inc., and which provides coverage in the aggregate amount of $75 million is approved; and be it

FURTHER RESOLVED:

That the payment by each of the Funds of its portion of the total premium of $407,235 for the period October 7, 2009 through June 30, 2010 for the aforementioned joint insured fidelity bond is fair and reasonable and therefore approved, taking into consideration, among other things, the number of parties named as insureds; the nature of the business activities of such parties, the amount of the joint insured fidelity bond; the amount of the premium to be allocated among all parties as insureds; the ratable allocation of the premium among all parties named as insureds; and the extent to which the share of the premium allocated to each of the Funds is less than the premium that Fund would have had to pay if it had provided and maintained a single insured bond; and be it

FURTHER RESOLVED:

That the Agreement Concerning Allocation of Fidelity Bond Premiums and Recoveries (“Agreement”) entered into among the Funds and the other named insureds under the foregoing fidelity bond coverage is approved and that each officer of the Trust, acting singly, is authorized to execute and deliver such Agreement, the execution and delivery of said Agreement to be conclusive evidence of the Trustees’ approval; and be it

FURTHER RESOLVED:

That the officers of the Trust are authorized to make any and all payments, in the name and on behalf of the Trust and each Fund, as they, or any of them, may determine to be necessary or desirable and proper in connection with or in furtherance of the foregoing resolutions.

RESOLVED:

That the appropriate officers of the Fund be, and each hereby is, authorized and directed to take and/or ratify all necessary action for the Fund to become a member of ICI Mutual Insurance Company (“ICI Mutual”) and, in conjunction with other investment companies for which affiliates of LMPFA serve as investment adviser and/or administrator, to purchase from ICI Mutual fidelity bond coverage (“Joint Fidelity Bond”) and a Directors and Officers/Errors and Omissions (“D&O/E&O”) liability insurance policy to which the investment adviser, sub-adviser, principal underwriter, administrator, directors and/or officers of such investment companies may also be parties; and further

RESOLVED:

That it is the finding of the Board that the Joint Fidelity Bond covering, among others, officers and employees of the Fund in accordance with the requirements of Rule 17g-1 under the 1940 Act is reasonable in form and amount, after having given due consideration to, among other things, the value of the aggregate assets of the Fund to which any person covered under the Joint Fidelity Bond may have access, the type and terms of the arrangements made for the custody and safekeeping of the Fund’s assets and the nature of the securities in the Fund’s portfolio; and further

RESOLVED:

That the portion of the total premium for the Joint Fidelity Bond to be allocated to the Fund based on its net assets (following the public offering of its Common Stock) be, and hereby is, approved by a vote of a majority of the Board of Directors of the Fund (all Directors voting) and separately by a majority of the “non-interested” Directors, after having given due consideration to, among other things, the number of the other parties named as insureds, the nature of the business activities of such other parties, the amount of the Joint Fidelity Bond, the amount of the premiums for the Fidelity Bond, the ratable allocation of the premiums among all parties named as insureds, and the extent to which the share of the premium allocated to the Fund is less than the premium the Fund would have had to pay if it had provided and maintained a fidelity bond which covers only the Fund as the insured; and further

RESOLVED:

That the Joint Fidelity Bond be, and hereby is, approved by a vote of the Board of Directors (all Directors voting) and separately by the “non-interested” Directors; and further

RESOLVED:

That the appropriate officers of the Fund be, and each of them hereby is, authorized and directed to enter into an agreement, in substantially the form used for the Closed-end Funds, as required by paragraph (f) of Rule 17g-1 under the 1940 Act with the other named insureds under the Joint Fidelity Bond providing that in the event any recovery is received under the Bond as a result of a loss sustained by the Fund and also by one or more of the other named insureds, the Fund shall receive an equitable and proportionate share of the recovery, but in no event less than the amount it would have received had it obtained and maintained a single insured bond with the minimum coverage required by paragraph (d) (1) of such Rule 17g-1; and further

RESOLVED:

That the appropriate officers of the Fund be, and each of them hereby is, authorized and directed to prepare, execute and file such amendments and supplements to the aforesaid agreement, and to take such other action as may be necessary or appropriate in order to conform to the provisions of the 1940 Act and the rules and regulations thereunder; and further

RESOLVED:

That the Secretary of the Fund shall file the Joint Fidelity Bond with the Securities and Exchange Commission and give the notices required under paragraph (g) of Rule 17g-1 under the 1940 Act; and further

RESOLVED:

That the Fund’s purchase of the D&O/E&O policy to which the Directors, officers and employees of the Fund are parties, and which provides coverage to those parties against liabilities and expenses (with certain exceptions) arising out of claims, actions or proceedings asserted or threatened against them in their respective capacities for the Fund is determined to be in the best interest of the Fund; and further

RESOLVED:

That pursuant to Rule 17d-1(d)(7) under the 1940 Act, the Board of Directors (all Directors voting) finds, and, separately, all of the “non-interested” Directors find, that the Fund’s participation in the D&O/E&O policy is in the best interest of the Fund, and that the portion of the total premium for the D&O/E&O policy to be allocated to the Fund based on its net assets is fair and reasonable when compared to the premiums that would have been paid if the insurance coverage of the policy had been purchased separately by the insured parties; and further

RESOLVED:

That the Directors and the appropriate officers of the Fund, or any of them, are authorized to make any and all payments and to do any and all other acts, in the name of the Fund and on its behalf, as they, or any of them, may determine to be necessary or desirable and proper in connection with or in furtherance of the foregoing resolutions.

In the event any recovery under the Joint Fidelity Bond is received as a result of a loss sustained by any of the Funds, then each Fund sustaining such loss shall receive an equitable and proportionate share of the recovery, said proportion to be established by the ratio that the claim bears to the total amount claimed by all participants, but at least equal to the amount which each such Fund would have received had it provided and maintained a single insured bond with the minimum coverage required by Rule 17g-1(d)(1) under the 1940 Act (“Separate Bond”).

In the event that the claims of loss of the Funds are so related that the Insurer is entitled to assert that the claims must be aggregated with the results that the total amount payable on such claims is limited to the face amount of the Joint Fidelity Bond, the following rules for determining the priorities among the Funds for satisfaction of the claims under the Joint Fidelity Bond shall apply:

Each party to this Agreement is hereby expressly put on notice of the limitation of shareholder liability as set forth in the Declaration of Trust of Legg Mason Tax-Free Income Fund and agrees that obligations assumed by this Trust pursuant to this Agreement shall be limited in all cases to the Trust and its assets. Each party to this Agreement agrees that it shall not seek satisfaction of any such obligation from the shareholders or any individual shareholder of the Legg Mason Tax-Free Income Fund nor from any individual Trustee of that Trust.

Additional Parties to this Agreement: This Agreement is intended to cover all entities insured under the Joint Fidelity Bond. Any insured under the Joint Fidelity Bond that is not currently listed on Schedule I hereto may be added to this Agreement by a written amendment.

This Agreement may be executed in multiple counterparts.

/s/ R. Jay Gerken

R. Jay Gerken

President, each of the Funds listed on Schedule I

/s/ David R. Odenath

David R. Odenath

President, each of the Funds listed on Schedule II

/s/ Peter H. Shriver

Peter H. Shriver

President, the Fund listed on Schedule III