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: 811-06118
Tax Free Reserves Portfolio
(Exact name of registrant as specified in charter)
125 BROAD STREET, NEW YORK, NEW YORK 10004
(Address of principal executive offices) (Zip code)
Robert I. Frenkel, Esq.
300 First Stamford Place, 2nd Floor
Stamford, Connecticut 06902
(Name and address of agent for service)
Registrant’s telephone number, including area code: 203-703-7046
Date of fiscal year end: August 31
Date of reporting period: July 1, 2006–June 30, 2007
Item 1. Proxy Voting Record
The Registrant did not hold any voting securities and accordingly did not vote any proxies during the reporting period.
As part of a number of initiatives to restructure and streamline the Legg Mason Partners fund complex, Tax Free Reserves Portfolio assumed the assets and liabilities of a predecessor fund with the same name effective April 16, 2007. On that date, the fund became a series of Master Portfolio Trust. Prior thereto, the fund was a trust under the laws of the State of New York known as Tax Free Reserves Portfolio. The information in this filing relating to the fund prior to April 16, 2007 refers to the fund’s predecessor.
******************************** FORM N-Px REPORT ****************************** ICA File Number: 811-06118 Reporting Period: 07/01/2006 - 06/30/2007 Tax Free Reserves Portfolio ============================ TAX FREE RESERVES PORTFOLIO ======================= ========== END NPX REPORT
SIGNATURES
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.
Tax Free Reserves Portfolio
By:
/s/ R. Jay Gerken
R. Jay Gerken
Chairman of the Board, President and Chief Executive Officer
Date: August 31, 2007