-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Qvz350M0sH/CM9742tLYiWjm5agcLBM4dokoHCqbaxEvAg0WD/AnmU3pHkWX3fjT yu9a+2K9ajjWeKz6EdzHvg== 0000893750-03-000655.txt : 20040421 0000893750-03-000655.hdr.sgml : 20040421 20031202170335 ACCESSION NUMBER: 0000893750-03-000655 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031125 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20031202 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SALOMON BROTHERS EMERGING MARKETS INCOME FUND INC CENTRAL INDEX KEY: 0000890340 IRS NUMBER: 133679155 STATE OF INCORPORATION: MD FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 811-07066 FILM NUMBER: 031033236 BUSINESS ADDRESS: STREET 1: 125 BROAD STREET CITY: NEW YORK STATE: NY ZIP: 10004 BUSINESS PHONE: 800-777-0102 MAIL ADDRESS: STREET 1: 125 BROAD STREET STREET 2: 10TH FLOOR, MF-2 CITY: NEW YORK STATE: NY ZIP: 10004 FORMER COMPANY: FORMER CONFORMED NAME: EMERGING MARKETS INCOME FUND INC DATE OF NAME CHANGE: 19930409 FORMER COMPANY: FORMER CONFORMED NAME: EMERGING MARKETS SOVEREIGN INCOME FUND INC DATE OF NAME CHANGE: 19920929 8-K 1 form_8k.txt SALOMON BROTHERS EMERG. MARKETS INCOME FUND INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) November 25, 2003 Salomon Brothers Emerging Markets Income Fund Inc. - ------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Maryland 811-07006 13-3679155 - -------------------------- ------------------------- -------------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) 300 First Stamford Place, 4th Floor, Stamford, CT 06902 - ------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (203) 890-7029 Salomon Brothers Emerging Markets Income Fund Inc. CURRENT REPORT ON FORM 8-K Item 7. Financial Statements and Exhibits. (c) Exhibits. Exhibit Number -------------- 99.1 Salomon Brothers Emerging Markets Income Fund Inc. press release, dated December 1, 2003. Item 9. Regulation FD Disclosure. On December 1, 2003, Salomon Brothers Emerging Markets Income Fund Inc. (the "Fund") issued a press release with respect to a memo released on November 25, 2003 by Citigroup Asset Management ("CAM"), the business unit of which the Fund's investment manager is a part, to CAM's senior staff. Exhibit 99.1 is a copy of the press release. The press release is being furnished pursuant to Item 9 of this Current Report on Form 8-K, and the information contained in Exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under Section 18. Furthermore, the information contained in Exhibit 99.1 shall not be deemed to be incorporated by reference into the filings of the Fund under the Securities Act of 1933, as amended. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Salomon Brothers Emerging Markets Income Fund Inc. -------------------------------------------------- (Registrant) Date: December 1, 2003 ------------------ /s/ Thomas C. Mandia -------------------------------------------------- (Signature) Name: Thomas C. Mandia ------------------------------------------------ Title: Assistant Secretary ------------------------------------------------ EXHIBIT INDEX Exhibit Number - -------------- 99.1 Press release of the Fund, dated December 1, 2003. EX-99.1 3 exh99_1.txt PRESS RELEASE Salomon Brothers Emerging Markets Income Fund Inc. Issues Statement NEW YORK - (PR Newswire-FirstCall) - December 1, 2003 Salomon Brothers Emerging Markets Income Fund Inc., which is traded on the New York Stock Exchange under the symbol "EMD," issued today the following statement: The Fund has received the following information from Citigroup Asset Management ("CAM"), the Citigroup business unit which includes the Fund's Investment Manager and other investment advisory companies, all of which are indirect, wholly-owned subsidiaries of Citigroup. CAM is reviewing its entry, through an affiliate, into the transfer agent business in the period 1997-1999. As CAM currently understands the facts, at the time CAM decided to enter the transfer agent business, CAM sub-contracted for a period of five years certain of the transfer agency services to a third party and also concluded a revenue guarantee agreement with this sub-contractor providing that the sub-contractor would guarantee certain benefits to CAM or its affiliates (the "Revenue Guarantee Agreement"). In connection with the subsequent purchase of the sub-contractor's business by an affiliate of the current sub-transfer agent (PFPC Inc.) used by CAM on many of the funds it manages, this Revenue Guarantee Agreement was amended eliminating those benefits in exchange for arrangements that included a one-time payment from the sub-contractor. The Boards of CAM-managed funds (the "Boards") were not informed of the Revenue Guarantee Agreement with the sub-contractor at the time the Boards considered and approved the transfer agent arrangements. Nor were the Boards informed of the subsequent amendment to the Revenue Guarantee Agreement when that occurred. CAM has begun to take corrective actions. CAM will pay to the applicable funds $16 million (plus interest) that CAM and its affiliates received from the Revenue Guarantee Agreement and its amendment. CAM also plans an independent review to verify that the transfer agency fees charged by CAM were fairly priced as compared to competitive alternatives. CAM is instituting new procedures and making changes designed to ensure no similar arrangements are entered into in the future. CAM has briefed the SEC, the New York State Attorney General and other regulators with respect to this matter, as well as the U.S. Attorney who is investigating the matter. CAM is cooperating with governmental authorities on this matter. The Fund's transfer agent, American Stock Transfer & Trust Company, is not affiliated with either CAM or PFPC Inc. Salomon Brothers Emerging Markets Income Fund Inc., a non-diversified investment management company, is managed by Salomon Brothers Asset Management Inc, an indirect wholly owned subsidiary of Citigroup Inc. Contact: Brenda Grandell Director, Closed-End Funds Citigroup Asset Management 212-291-3775 Investor Relations: 1-888-777-0102 -----END PRIVACY-ENHANCED MESSAGE-----