Elliott Statement on Postponement of The Salomon Brothers Fund Special Stockholders' Meeting
October 21 2005 - 1:48PM
PR Newswire (US)
NEW YORK, Oct. 21 /PRNewswire/ -- Elliott Associates, L.P. and
Elliott International, L.P. (collectively "Elliott"), who together
are reportedly the largest stockholder of The Salomon Brothers Fund
Inc (NYSE:SBF), today made the following statement regarding the
postponement of the SBF Special Stockholders' Meeting until
November 15, 2005, to consider the approval of a new management
agreement. The approval is in connection with the pending
transaction between Citigroup Inc. (NYSE:C) and Legg Mason, Inc.
(NYSE:LM). Elliott is a long-term investor and the beneficial owner
of 5.88 million shares, or approximately 6%, of SBF. "We are
gratified by the continuing strong support we have received from
institutional and retail stockholders. Elliott supports the
decision by the Board of Directors of The Salomon Brothers Fund to
postpone the Special Meeting of Stockholders until November 15. We
remain prepared to meet with the Board during this period in an
effort to have the Board implement a strategy to eliminate or
nearly eliminate the discount to net asset value." About Elliott
Associates, L.P. Elliott Associates, L.P. and its sister fund,
Elliott International, L.P., have more than $5.5 billion of capital
under management. Founded in 1977, Elliott Associates is one of the
oldest funds of its kind under continuous management. DATASOURCE:
Elliott Associates, L.P. CONTACT: Scott Tagliarino,
+1-212-506-2999, or Cell: +1-917-922-2364, for Elliott Associates,
L.P.
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