Salomon Brothers Capital and Income Fund Inc. Announces New Share Repurchase Program
February 06 2006 - 8:30AM
Business Wire
The Board of Directors of Salomon Brothers Capital and Income Fund
Inc. (the "Fund"), which is listed on the New York Stock Exchange
under the symbol "SCD," today announced that it has authorized the
Fund to repurchase from time to time in the open market up to
1,000,000 shares of the Fund's common stock. The Board of Directors
directed the management of the Fund to repurchase shares of the
Fund's common stock at such times and in such amounts as management
believes will enhance shareholder value, subject to review by the
Fund's Board of Directors. This is the second repurchase program
authorized by the Board of Directors of the Fund. Pursuant to the
Fund's previous repurchase program of up to 1,000,000 shares, the
Fund has currently repurchased approximately 900,000 shares; there
are still approximately 100,000 additional shares authorized and
remaining to be repurchased under the initial program. Upon
completion of this authorization, the second repurchase program
will become effective. Salomon Brothers Capital and Income Fund
Inc., a non-diversified closed-end investment company, is managed
by Salomon Brothers Asset Management Inc, a wholly owned subsidiary
of Legg Mason, Inc. For more information about the Fund, call
1-888-777-0102 or consult the Fund's web site at www.sbam.com. This
press release may contain statements regarding plans and
expectations for the future that constitute forward-looking
statements within the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact are
forward-looking and can be identified by the use of words such as
"may," "will," "expect," "anticipate," "estimate," "believe,"
"continue" or other similar words. Such forward-looking statements
are based on the Fund's current plans and expectations, and are
subject to risks and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements. Additional information concerning such risks and
uncertainties are contained in the Fund's filings with the
Securities and Exchange Commission. Note: On December 1, 2005,
Citigroup Inc. ("Citigroup") sold substantially all of its
worldwide asset management business, Citigroup Asset Management
("CAM"), to Legg Mason, Inc. ("Legg Mason"). As part of this
transaction, the investment adviser for the fund(s) referenced
herein became a wholly owned subsidiary of Legg Mason. Under a
licensing agreement between Citigroup and Legg Mason, the names of
the funds, the names of any classes of shares of funds, and the
names of investment advisers of the funds, as well as all logos,
trademarks, and service marks related to Citigroup or any of its
affiliates ("Citi Marks") are licensed for use by Legg Mason. Citi
Marks include, but are not limited to, "Smith Barney," "Salomon
Brothers," "Citi," "Citigroup Asset Management," and "Davis Skaggs
Investment Management." Legg Mason and its affiliates, as well as
the Fund's investment adviser, are not affiliated with Citigroup.
All Citi Marks are owned by Citigroup, and are licensed for use
until no later than one year after the date of the licensing
agreement.
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