WIA and WIW Declare December 2010 Dividends

Western Asset/Claymore Inflation-Linked Securities & Income Fund (NYSE: WIA) and Western Asset/Claymore Inflation-Linked Opportunities & Income Fund (NYSE: WIW) announced today that they have declared their monthly dividends of $0.035 per share and $0.0365 per share, respectively.

The monthly dividend of $0.035 for WIA represents an annualized distribution rate of 3.23% based upon the closing market price of $13.02 on November 30, 2010. This monthly dividend represents a decrease of approximately 7.89% as compared to WIA’s prior monthly dividend amount.

The monthly dividend of $0.0365 for WIW represents an annualized distribution rate of 3.45% based upon the closing market price of $12.71 on November 30, 2010. This monthly dividend represents a decrease of approximately 8.75% as compared to WIW’s prior monthly dividend amount.

The monthly dividend amounts for WIA and WIW were modified in an effort to better align the Funds’ current earnings rates with current dividends, while also considering the relatively benign near-term outlook for inflation. While the benefit from inflation accretion in the coming months may be minimal, the Funds’ management believes inflation remains a long-term concern.

The December 2010 dividend for WIA and WIW will be paid on December 30, 2010 to shareholders of record as of December 23, 2010 and the ex-dividend date will be December 21, 2010.

Past performance is not indicative of future performance. If it is determined that a notification is required, pursuant to Section 19(a) of the Investment Company Act of 1940, as amended, such notice will be posted to such Fund’s website after the close of business three business days prior to the payable date. If a distribution rate is largely comprised of sources other than income, it may not be reflective of that Fund’s performance.

Western Asset is one of the world’s premier fixed-income managers. With offices in Pasadena, Hong Kong, London, Melbourne, New York, São Paolo, Singapore and Tokyo, Western Asset offers institutional and retail clients a full range of fixed-income products. By devoting all of its resources to fixed income, Western Asset is able to provide a full commitment to its clients in every area of the firm. Western Asset’s long performance track record and global presence has them positioned to continue their commitment to excellence in fixed-income management and client service. As of September 30, 2010, Western Asset had approximately $469 billion in assets under management.

Claymore Advisors, LLC has changed its name to Guggenheim Funds Investment Advisors, LLC and Claymore Securities, Inc. has changed its name to Guggenheim Funds Distributors, Inc. The change marks the next phase of business integration following the acquisition of Claymore by Guggenheim Partners, LLC (“Guggenheim Partners”) announced on October 15, 2009. The Guggenheim Funds business will continue to support the current product lineup of exchange-traded funds (ETFs), unit investment trusts (UITs) and closed-end funds (CEFs), with their respective strategies and investment policies remaining unchanged.

Guggenheim Funds Investment Advisors, LLC acts as the Investment Adviser for WIW and Guggenheim Funds Distributors, Inc. acts as the Servicing Agent for WIA. Guggenheim Funds Distributors, Inc. and its affiliates (together, “Guggenheim Funds”) offers strategic investment solutions for financial advisors and their valued clients. As an innovator in exchange-traded funds (ETFs), unit investment trusts (UITs) and closed-end funds (CEFs), Guggenheim Funds often leads its peers with creative investment strategy solutions. Guggenheim Funds and its affiliates provide supervision, management or servicing of assets with a commitment to consistently delivering exceptional service. Guggenheim Funds is a wholly-owned subsidiary of Guggenheim Partners, a global, diversified financial services firm with more than $100 billion in assets under supervision. Guggenheim Partners, through its affiliates, provides investment management, investment advisory, insurance, investment banking, and capital markets services. The firm is headquartered in Chicago and New York with a global network of offices throughout the United States, Europe, and Asia.

There can be no assurance that the Fund will achieve its investment objectives. The net asset value of the Fund will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value. Past performance is not indicative of future performance. An investment in the Fund is subject to certain risks and other considerations. Such risks and considerations include, but are not limited to: Market Discount Risk; Interest Rate Risk; Risks Relating to U.S. TIPS; Risks Relating to Inflation-Linked Securities; Credit Risk; Lower Grade and Unrated Securities Risk; Leverage Risk; Issuer Risk; Smaller Company Risk; Country Risk; Emerging Markets Risk; Prepayment Risk; Reinvestment Risk; Derivatives Risk; Inflation/Deflation Risk; Turnover Risk; Management Risk and Market Disruption and Geopolitical Risk.

Investors should consider the investment objectives and policies, risk considerations, charges and expenses of any investment before they invest. For this and more information, please contact a securities representative or Guggenheim Funds Distributors, Inc., 2455 Corporate West Drive, Lisle, Illinois 60532, 800-345-7999.

Member FINRA/SIPC (12/10)

NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE

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