SCD LMP Capital and Income Fund Inc

Salomon Brothers Capital and Income Fund Inc. (NYSE: SCD) announced today that effective July 17, 2006, Robert Gendelman will be named a portfolio manager of the Fund with portfolio management responsibility for overseeing the Fund's allocation between equity and fixed-income securities and the Fund's equity investments in general. The current portfolio managers of the fixed-income portion of the Fund will remain unchanged. Mr. Gendelman recently joined ClearBridge Advisors, a unit of Legg Mason, Inc., as a portfolio manager and Managing Director. ClearBridge Advisors is the U.S. equity group created from the former Citigroup Asset Management, and its advisory services are currently provided by CAM North America, LLC ("CAM N.A."), Salomon Brothers Asset Management Inc ("SBAM") and other affiliated advisory entities. Mr. Gendelman joins the unit from Cobble Creek Partners, LLC, a long-short hedge fund based in Greenwich, Connecticut, where he was a senior portfolio manager from 2003 to 2006. Prior to that, he spent 9 years at Neuberger Berman, where he was a general partner and portfolio manager. He previously was a general partner at Harpel Advisors, L.P., founded and managed Great Lakes Capital L.P. from 1987 to 1993, and began his career as an analyst focusing on merger arbitrage, restructurings and special situations. He succeeds Mark McAllister who was a portfolio manager of the Fund since its inception in February of 2004. Mr. McAllister will focus his portfolio management activities on the Salomon Brothers Investors Value Fund Inc, as well as the firm's other large cap value products. Additionally, effective August 1, 2006, Legg Mason Partners Fund Advisor, LLC ("LMPFA"), an affiliate of the Fund's current investment adviser, SBAM, will assume management responsibilities for the Fund as a result of a reorganization of Legg Mason's investment advisory subsidiaries. Following the purchase of substantially all of Citigroup's asset management business in December 2005, Legg Mason undertook an internal reorganization to consolidate the advisory services provided to the legacy Citigroup funds through a more limited number of advisers, focusing on the advisers' strengths. As part of this reorganization, at a meeting held in June 2006, the Board of the Fund approved a new management agreement with LMPFA, under which LMPFA will act as the investment adviser for the Fund. LMPFA, with offices at 100 Light Street, Baltimore, Maryland 21202, is a newly-organized investment adviser that has been formed to serve as the investment adviser of the Fund and other Legg Mason-sponsored funds. The Board approved a new sub-advisory agreement for the Fund between LMPFA and Western Asset Management Company ("Western Asset"). Western Asset, established in 1971 and having offices at 385 East Colorado Boulevard, Pasadena, California 91101, acts as investment adviser to institutional accounts, such as corporate pension plans, mutual funds and endowment funds. As of March 31, 2006, Western Asset's total assets under management were approximately $512 billion (of which approximately $77 billion is managed by Western Asset Management Ltd.). The Board also approved a second sub-advisory agreement between LMPFA and CAM N.A. CAM N.A., with offices at 399 Park Avenue, New York, New York 10022, is a newly-organized investment adviser that has been formed to succeed to the equity securities portfolio management business of Citigroup Asset Management. LMPFA will provide administrative and certain oversight services to the Fund. LMPFA will delegate to Western and CAM N.A. the day-to-day portfolio management of the Fund. Legg Mason expects that senior management and other key employees will be the same immediately after the new management and sub-advisory agreements take effect, and the portfolio managers will have access to the same research and other resources to support their investment management functions. The management fee for the Fund will remain unchanged. LMPFA, CAM N.A. and Western Asset are wholly-owned subsidiaries of Legg Mason. Lastly, it is expected that the Fund's name will change in October 2006 to LMP Capital and Income Fund Inc. Salomon Brothers Capital and Income Fund Inc. is a non-diversified closed-end investment management company traded on the New York Stock Exchange under the symbol "SCD." For more information, call 1-888-777-0102, or consult the Fund's web site at www.leggmason.com/InvestorServices. Note: "Smith Barney," "Salomon Brothers" and "Citi" are service marks of Citigroup, licensed for use by Legg Mason as the names of funds and investment advisers. Legg Mason and its affiliates, as well as the fund's investment manager, are not affiliated with Citigroup.