Investment Company Act file number

811-7362

Western Asset Municipal Partners Fund Inc.

(Exact name of registrant as specified in charter)

125 Broad Street, New York, NY

10004

(Address of principal executive offices)

(Zip code)

Robert I. Frenkel, Esq.
Legg Mason & Co., LLC
300 First Stamford Place
Stamford, CT 06902

(Name and address of agent for service)

Registrant's telephone number, including area code:

1-800-451-2010

Date of fiscal year end:

December 31,

Date of reporting period:

March 31, 2007

Schedule of Investments  (unaudited)

March 31, 2007

Face
Amount

Rating‡

Security

Value

MUNICIPAL BONDS — 96.3%

California — 5.5%

$

1,000,000

A2(a)

California Health Facilities Financing Authority Revenue, Cedars-Sinai Medical Center, 5.000% due 11/15/34

$

1,036,090

1,575,000

A+

California State, GO, 5.125% due 6/1/24

1,659,026

1,250,000

AAA

Huntington Beach, CA, Union High School District, GO, Election 2004, FSA-Insured, 5.000% due 8/1/29

1,315,725

2,000,000

AAA

Los Angeles, CA, Department of Water & Power Revenue, Power Systems, Subordinated Series A-1, FSA-Insured, 5.000% due 7/1/35

2,110,500

Total California

6,121,341

Colorado — 1.5%

600,000

BBB+

Colorado Health Facilities Authority Revenue, Poudre Valley Health Care, Series F, 5.000% due 3/1/25

613,356

Colorado Springs, CO, Hospital Revenue:

505,000

A-

6.375% due 12/15/30

547,006

495,000

A-

Call 12/15/10 @101, 6.375% due 12/15/30 (b)

544,054

Total Colorado

1,704,416

Hawaii — 1.9%

2,000,000

AAA

Hawaii State Airport System Revenue, Series B, FGIC-Insured, 6.000% due 7/1/19 (c)

2,139,580

Illinois — 13.1%

3,750,000

AAA

Chicago, IL, Board of Education, GO, Chicago School Reform, AMBAC-Insured, Call 12/1/07 @ 102, 5.750% due 12/1/27 (b)

3,874,687

Chicago, IL, Midway Airport Revenue:

2,000,000

AAA

Series A, MBIA-Insured, 5.500% due 1/1/29

2,022,680

2,000,000

AAA

Series B, MBIA-Insured, 5.625% due 1/1/29 (c)

2,022,280

2,000,000

AAA

Chicago, IL, Park District, Refunding, Series D, FGIC-Insured, 5.000% due 1/1/29

2,111,560

1,000,000

AA+

Illinois EFA Revenue, Northwestern University, 5.500% due 12/1/13

1,077,520

1,500,000

A+

Illinois Health Facilities Authority Revenue, Refunding, Lutheran General Health System, Series C, 7.000% due 4/1/14

1,739,280

1,500,000

AAA

Illinois State, GO, First Series, FSA-Insured, 5.500% due 5/1/16

1,684,890

Total Illinois

14,532,897

Indiana — 3.7%

Indiana Bond Bank Revenue, Series B:

1,125,000

AAA

5.000% due 8/1/23

1,161,180

625,000

AAA

Call 8/1/10 @ 101, 5.000% due 8/1/23 (b)

656,588

1,195,000

AAA

Indiana Health Facility Financing Authority, Hospital Revenue, Community Hospital Project, Series A, AMBAC-Insured, 5.000% due 5/1/35

1,246,600

1,000,000

BBB+

Indiana State DFA Environment Improvement Revenue, USX Corp. Project, 5.250% due 12/1/22

1,068,600

Total Indiana

4,132,968

Iowa — 1.0%

1,000,000

Aa3(a)

Iowa Finance Authority, Hospital Facility Revenue, Call 2/15/10 @101,
6.750% due 2/15/16 (b)

1,091,410

Kansas — 1.4%

1,430,000

AA

Kansas State Development Finance Authority, Health Facilities Revenue, Sisters of Charity, Series J, 6.250% due 12/1/28

1,534,748

Maryland — 6.4%

Maryland State Health & Higher Educational Facilities Authority Revenue:

1,500,000

Baa1(a)

Carroll County General Hospital, 6.000% due 7/1/37

1,613,535

1,000,000

A

Suburban Hospital, Series A, 5.500% due 7/1/16

1,087,000

University of Maryland Medical Systems:

Schedule of Investments  (unaudited) (continued)

March 31, 2007

Face
Amount

Rating‡

Security

Value

Maryland — 6.4% (continued)

$

500,000

A

6.000% due 7/1/32

$

541,990

1,000,000

A3(a)

Call 7/1/10 @ 101, 6.750% due 7/1/30 (b)

1,103,090

2,500,000

Aaa(a)

Northeast Maryland Waste Disposal Authority, Solid Waste Revenue, AMBAC-Insured, 5.500% due 4/1/15 (c)

2,688,700

Total Maryland

7,034,315

Massachusetts — 5.4%

2,500,000

AA

Massachusetts State Health & EFA Revenue, Partners Healthcare System, Series C, 5.750% due 7/1/32

2,690,500

Massachusetts State Water Pollution Abatement Trust Revenue, MWRA Program, Series A:

2,540,000

AAA

5.750% due 8/1/29

2,671,674

630,000

AAA

Call 8/1/09 @ 101, 5.750% due 8/1/29 (b)

665,557

Total Massachusetts

6,027,731

Michigan — 1.4%

1,500,000

AA-

Michigan State, Hospital Finance Authority Revenue, Trinity Health, Series C, 5.375% due 12/1/30

1,587,225

New Hampshire — 0.1%

80,000

A+

New Hampshire State HFA, Single-Family Residential Revenue, Series A, 6.800% due 7/1/15 (c)

80,824

New Jersey — 9.7%

New Jersey EDA:

5,150,000

AAA

PCR, Revenue, Public Service Electric and Gas Co. Project, Series A, MBIA-Insured, 6.400% due 5/1/32 (c)

5,194,959

4,450,000

AAA

Water Facilities Revenue, New Jersey American Water Co. Inc. Project, Series A, FGIC-Insured, 6.875% due 11/1/34 (c)

4,504,869

1,000,000

A3(a)

New Jersey Health Care Facilities Financing Authority Revenue, Hackensack University Medical Center, 6.000% due 1/1/25

1,057,320

Total New Jersey

10,757,148

New York — 12.3%

New York City, NY, GO:

Series A:

10,000

AA-

6.000% due 5/15/30

10,679

990,000

AAA

Call 5/15/10 @ 101, 6.000% due 5/15/30 (b)

1,068,745

500,000

AA-

Series G, 5.000% due 12/1/33

522,630

New York City, NY, Municipal Water Finance Authority, Water & Sewer
Systems Revenue:

Series B:

1,000,000

AA+

5.125% due 6/15/31

1,042,310

1,175,000

AA+

Call 6/15/07 @ 101, 5.750% due 6/15/29 (b)

1,191,615

2,000,000

AA+

Series D, 5.000% due 6/15/37

2,098,660

New York City, NY, TFA Revenue:

140,000

AAA

Future Tax Secured, Series A, Call 11/15/12 @ 100, 5.500% due 11/15/17 (b)

153,206

1,110,000

AAA

Unrefunded Balance, Future Tax Secured, Series A, 5.500% due 11/15/17

1,207,047

5,365,000

AAA

New York State Dormitory Authority Revenue, Court Facilities Lease, NYC Issue, Non State Supported Debt, Series A, AMBAC-Insured, 5.500% due 5/15/30

6,363,641

Total New York

13,658,533

North Carolina — 1.1%

1,200,000

AA-

North Carolina Medical Care Commission Health Care Facilities Revenue, Novant Health Obligation Group, 5.000% due 11/1/39

1,251,000

Schedule of Investments  (unaudited) (continued)

March 31, 2007

Face
Amount

Rating‡

Security

Value

Ohio — 6.2%

$

6,700,000

A

Ohio State Water Development Authority, Solid Waste Disposal Revenue, North Star BHP Steel, Cargill Inc., 6.300% due 9/1/20 (c)

$

6,843,648

Pennsylvania — 3.1%

3,000,000

AAA

Allegheny County, PA, Airport Authority, Airport Revenue, Refunding, Pittsburgh International, Series B, MBIA-Insured, 5.000% due 1/1/17 (c)

3,195,180

250,000

AAA

Philadelphia, PA, School District, GO, Series A, FSA-Insured, Call 2/1/12 @ 100, 5.500% due 2/1/31 (b)

269,403

Total Pennsylvania

3,464,583

Tennessee (c) — 3.4%

3,500,000

AAA

Memphis-Shelby County, TN, Airport Authority Revenue, Series D, AMBAC-Insured, 6.000% due 3/1/24

3,716,160

75,000

AA

Tennessee Housing Development Agency Revenue, Homeownership Program, Series 2B, 6.350% due 1/1/31

76,528

Total Tennessee

3,792,688

Texas — 9.8%

2,500,000

AAA

Aledo, TX, GO, ISD, School Building, Series A, PSF-Insured, 5.000% due 2/15/30

2,620,850

1,000,000

Aaa(a)

Edgewood, TX, ISD, PSFG-Insured, 5.250% due 2/15/18

1,084,310

1,500,000

AAA

Houston, TX, Utility System Revenue, Combined First Lien, FSA-Insured, 5.000% due 11/15/35

1,573,830

1,600,000

AAA

Lake Dallas, TX, GO, ISD, School Building, PSF-Insured, 5.000% due 8/15/34

1,669,040

100,000

AAA

North Harris Montgomery Community College District, TX, GO, FGIC-Insured, 5.375% due 2/15/16

107,128

3,500,000

AAA

Texas State Turnpike Authority Revenue, First Tier, Series A, AMBAC-Insured, 5.500% due 8/15/39

3,765,510

Total Texas

10,820,668

Washington — 9.3%

1,000,000

AAA

Chelan County, WA, Public Utility District, Chelan Hydro System No.1, Construction Revenue, Series A, AMBAC-Insured, 5.450% due 7/1/37 (c)

1,060,430

1,395,000

AAA

King County, WA, GO, Refunding, Series B, MBIA-Insured, 5.000% due 1/1/30

1,418,171

2,000,000

AAA

Port of Seattle, WA, Revenue, Refunding, Intermediate Lien, Series A, MBIA-Insured, 5.000% due 3/1/30

2,099,900

4,250,000

AAA

Seattle, WA, GO, Series B, FSA-Insured, Call 12/1/09 @ 101, 5.750% due 12/1/28 (b)

4,517,877

1,200,000

AAA

Washington State Public Power Supply System Revenue, Nuclear Project No. 1, Series A, MBIA-Insured, 5.125% due 7/1/17

1,241,496

Total Washington

10,337,874

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS
(Cost — $102,324,066)

106,913,597

SHORT-TERM INVESTMENTS(d) — 3.7%

New York — 0.5%

600,000

A-1+

New York, NY, GO, Subordinated Series E-2, LOC-JPMorgan Chase, 3.800%, 4/2/07

600,000

Utah — 3.2%

2,500,000

A-1+

Murray City, UT, Hospital Revenue, IHC Health Services Inc., Series A, SPA-JPMorgan Chase, 3.770%, 4/2/07

2,500,000

Schedule of Investments  (unaudited) (continued)

March 31, 2007

Face
Amount

Security

Value

Utah — 3.2% (continued)

$

1,000,000

A-1+

Weber County, UT, Hospital Revenue, IHC Health Services Inc., Series C, SPA-Landesbank Hessen-Thuringen, 3.770%, 4/2/07

$

1,000,000

Total Utah

3,500,000

TOTAL SHORT-TERM INVESTMENTS
(Cost — $4,100,000)

4,100,000

TOTAL INVESTMENTS — 100.0% (Cost — $106,424,066#)

$

111,013,597

‡

All ratings are by Standard & Poor’s Ratings Service, unless otherwise noted.

(a)

Rating by Moody’s Investors Service.

(b)

Pre-Refunded bonds are escrowed with government obligations and/or government agency securities and are considered by the Manager to be triple-A rated even if issuer has not applied for new ratings.

(c)

Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax (“AMT”).

(d)

Variable rate demand obligations have a demand feature under which the Fund can tender them back to the issuer on no more than 7 days notice. Date shown is the date of the next interest rate change.

#

Aggregate cost for federal income tax purposes is substantially the same.

See pages 6 and 7 for definitions of ratings.

Abbreviations used in this schedule:

AMBAC - Ambac Assurance Corporation

DFA - Development Finance Agency

EDA - Economic Development Authority

EFA - Educational Facilities Authority

FGIC - Financial Guaranty Insurance Company

FSA - Financial Security Assurance

GO - General Obligation

HFA - Housing Finance Authority

ISD - Independent School District

LOC - Letter of Credit

MBIA - Municipal Bond Investors Assurance Corporation

MWRA - Massachusetts Water Resources Authority

PCR - Pollution Control Revenue

PSF - Permanent School Fund

PSFG - Permanent School Fund Guaranty

SPA - Standby Bond Purchase Agreement

TFA - Transitional Finance Authority

Transportation

17.1

%

Hospitals

16.7

Pollution Control

14.2

Pre-Refunded

13.6

General Obligation

12.4

Utilities

7.8

Education

7.7

Water and Sewer

6.0

Electric

1.9

Life Care Systems

1.4

Tax Allocation

1.1

Housing: Single Family

0.1

100.0

%

AAA

—

Bonds rated “AAA” have the highest rating assigned by Standard & Poor’s. Capacity to pay interest and repay principal is extremely strong.

AA

—

Bonds rated “AA” have a very strong capacity to pay interest and repay principal and differ from the highest rated issues only in a small degree.

A

—

Bonds rated “A” have a strong capacity to pay interest and repay principal although they are somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than debt in higher rated categories.

BBB

—

Bonds rated “BBB” are regarded as having an adequate capacity to pay interest and repay principal. Whereas they normally exhibit adequate protection parameters, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity to pay interest and repay principal for bonds in this category than in higher rated categories.

BB, B,

CCC,

CC and C

—

Bonds rated “BB”, “B”, “CCC”, “CC” and “C” are regarded, on balance, as predominantly speculative with respect to capacity to pay interest and repay principal in accordance with the terms of the obligation. “BB” represents the lowest degree of speculation and “C” the highest degree of speculation. While such bonds will likely have some quality and protective characteristics, these are outweighed by large uncertainties or major risk exposures to adverse conditions.

D

—

Bonds rated “D” are in default and payment of interest and/or repayment of principal is in arrears.

Aaa

—

Bonds rated “Aaa” are judged to be of the best quality. They carry the smallest degree of investment risk and are generally referred to as “gilt edge.” Interest payments are protected by a large or by an exceptionally stable margin and principal is secure. While the various protective elements are likely to change, such changes as can be visualized are most unlikely to impair the fundamentally strong position of such issues.

Aa

—

Bonds rated “Aa” are judged to be of high quality by all standards. Together with the “Aaa” group they comprise what are generally known as high grade bonds. They are rated lower than the best bonds because margins of protection may not be as large as in “Aaa” securities or fluctuation of protective elements may be of greater amplitude or there may be other elements present which make the long-term risks appear somewhat larger than in “Aaa” securities.

A

—

Bonds rated “A” possess many favorable investment attributes and are to be considered as upper medium grade obligations. Factors giving security to principal and interest are considered adequate but elements may be present which suggest a susceptibility to impairment some time in the future.

Baa

—

Bonds rated “Baa” are considered as medium grade obligations, i.e., they are neither highly protected nor poorly secured. Interest payments and principal security appear adequate for the present but certain protective elements may be lacking or may be characteristically unreliable over any great length of time. Such bonds lack outstanding investment characteristics and in fact have speculative characteristics as well.

Ba

—

Bonds rated “Ba” are judged to have speculative elements; their future cannot be considered as well assured. Often the protection of interest and principal payments may be very moderate and therefore

not well safeguarded during both good and bad times over the future. Uncertainty of position characterizes bonds in this class.

B

—

Bonds rated “B” generally lack characteristics of desirable investments. Assurance of interest and principal payments or of maintenance of other terms of the contract over any long period of time may be small.

Caa

—

Bonds rated “Caa” are of poor standing. These may be in default, or present elements of danger may exist with respect to principal or interest.

Ca

—

Bonds rated “Ca” represent obligations which are speculative in a high degree. Such issues are often in default or have other marked short-comings.

C

—

Bonds rated “C” are the lowest class of bonds and issues so rated can be regarded as having extremely poor prospects of ever attaining any real investment standing.

SP-1

—

Standard & Poor’s highest rating indicating very strong or strong capacity to pay principal and interest; those issues determined to possess overwhelming safety characteristics are denoted with a plus (+) sign.

A-1

—

Standard & Poor’s highest commercial paper and variable-rate demand obligation (VRDO) rating indicating that the degree of safety regarding timely payment is either overwhelming or very strong; those issues determined to possess overwhelming safety characteristics are denoted with a plus (+) sign.

VMIG 1

—

Moody’s highest rating for issues having a demand feature— VRDO.

MIG1

—

Moody’s highest rating for short-term municipal obligations.

P-1

—

Moody’s highest rating for commercial paper and for VRDO prior to the advent of the VMIG 1 rating.

NR

—

Indicates that the bond is not rated by Standard & Poor’s or Moody’s.

Gross unrealized appreciation

$

4,719,021

Gross unrealized depreciation

(129,490

)

Net unrealized appreciation

$

4,589,531

ITEM 2.

CONTROLS AND PROCEDURES.

(a)

The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a- 3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934.

(b)

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are likely to materially affect the registrant’s internal control over financial reporting.

ITEM 3.

EXHIBITS.

Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are attached hereto.

By

/s/ R. Jay Gerken

R. Jay Gerken

Chief Executive Officer

Date: May 30, 2007

By

/s/ R. Jay Gerken

R. Jay Gerken

Chief Executive Officer

Date: May 30, 2007

By

/s/ Frances M. Guggino

Frances M. Guggino

Chief Financial Officer

Date: May 30, 2007