Salomon Brothers Announces Launch of Salomon Brothers Inflation Management Fund Inc. NEW YORK, May 26 /PRNewswire-FirstCall/ -- Salomon Brothers Asset Management Inc. ("SBAM") announced that Salomon Brothers Inflation Management Fund Inc. ("the Fund") will begin trading today on the New York Stock Exchange under the symbol "IMF." The Fund is a newly organized, non-diversified closed-end management investment company whose primary investment objective is total return; its secondary investment objective is current income. The Fund will invest, under normal market conditions, at least 80% of its managed assets in inflation-protected securities issued by U.S. and non-U.S. governments, their agencies or instrumentalities and corporations that are structured to provide protection against inflation, and certain other fixed income securities that SBAM believes will provide protection against inflation. In an effort to maximize returns, the Fund may employ leverage through such techniques as borrowings from certain financial institutions and the use of reverse repurchase agreements up to approximately 33% of its total assets. However, the Fund may not be leveraged at all times, and the amount of leverage may vary. The Fund raised approximately $220 million during its recent initial public offering of common shares, assuming full exercise of the underwriters' overallotments, which may not necessarily occur. Citigroup Global Markets Inc. was the lead manager of the underwriting syndicate. The Fund will be managed by SBAM, which is relied on by some of the world's largest institutions for global fixed income investment management. SBAM was established in 1987 and, together with SBAM affiliates in London, Tokyo, and Hong Kong, provides a broad range of fixed income and equity investment management services to individuals and institutional clients throughout the world. It is an indirect wholly owned subsidiary of Citigroup Inc. Shares of closed-end exchange-traded investment companies, like the Fund, usually trade on a national stock exchange. Like other stocks, share prices will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end exchange- traded funds often trade at a discount to their net asset value, and may also trade at a discount to their original offering price. The Fund's use of leverage may cause greater volatility in the net asset value of its shares. For a prospectus and more complete information about Salomon Brothers Inflation Management Fund Inc., including risk considerations, charges and expenses, please contact a financial advisor or Salomon Brothers Asset Management at 1-888-777-0102. A copy of the prospectus is also available on the Salomon Brothers Asset Management web site at http://www.sbam.com/. Investors should read the prospectus carefully before they invest. For more information, call 1-888-777-0102 or 1-800-SALOMON, or consult the Fund's web site at http://www.sbam.com/. DATASOURCE: Salomon Brothers Asset Management Inc. CONTACT: Brenda Grandell, Director, Closed-End Funds, +1-212-291-3775, or Edward Giltenan, Head of Public Relations, +1-212-559-6746, both of Citigroup Asset Management, for Salomon Brothers Asset Management Inc. Web site: http://www.sbam.com/

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