Western Asset Investment Grade Income Fund (PAI) N-PX Annual report of proxy voting record

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number:   811-02351

Name of Fund:	Pacific American Income Shares, Inc.
Fund Address:	100 Light Street
	Baltimore, MD 21202
Name and address of agent for service:
	Gregory T. Merz, Vice President
	Pacific American Income Shares, Inc.
	100 Light Street, 23rd Floor
	Baltimore, MD 21202
Registrant’s telephone number, including area code:
	1-800-368-2558
Date of fiscal year end:
	12/31/2004
Date of reporting period:
	07/01/2003 – 06/30/2004

Item 1 – Proxy Voting Record:

Item 1 – Proxy Voting Record – Pacific American Income Shares, Inc. held no voting securities during the period covered by this report.  No records are attached.

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Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Pacific American Income Shares, Inc.
By:	/s/ James W. Hirschmann III
	James W. Hirschmann III
	President of Pacific American Income Shares, Inc.
Date:	August 24, 2004

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