Western Asset Variable Rate Strategic Fund Inc. which is traded on the New York Stock Exchange under the symbol "GFY," announced today the results of the votes cast at the Fund’s annual meeting of shareholders held on March 20, 2020.

Western Asset Variable Rate Strategic Fund Inc. (NYSE: GFY) (the "Fund") today announced that Institutional Shareholder Services ("ISS") and Glass Lewis & Co. ("Glass Lewis"), two of the leading independent proxy advisory firms, recommend that shareholders vote to approve the new agreements between the Fund and its investment manager and subadvisers.