UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-6506

Intermediate Muni 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, 2006

---

ITEM 1.

SCHEDULE OF INVESTMENTS

INTERMEDIATE MUNI FUND, INC.

FORM N-Q
MARCH 31, 2006

---

INTERMEDIATE MUNI FUND, INC.

Schedule of Investments  (unaudited)

March 31, 2006

Face Amount			Rating‡		Security		Value
MUNICIPAL BONDS — 95.3%
Alabama — 3.2%
$	3,000,000		AAA		Alabama State Public School & College Authority, FSA-Insured, 5.125% due
					11/1/15 (a)	$	3,137,280
	1,225,000		AAA		Baldwin County, AL, Board of Education, Capital Outlay School Warrants,
					AMBAC-Insured, 5.000% due 6/1/20		1,284,253
	259,127		AAA		Birmingham, AL, Medical Clinic Board Revenue, Baptist Medical Center,
					8.300% due 7/1/08 (b)		273,130
	1,000,000		AAA		Saraland, AL, GO, MBIA-Insured, 5.250% due 1/1/15		1,063,930
					Total Alabama		5,758,593
Alaska — 1.6%
	1,000,000		NR		Alaska Industrial Development & Export Authority Revenue, Williams Lynxs
					Alaska Cargo Port LLC, 8.000% due 5/1/23 (c)		995,310
	500,000		AAA		Anchorage, AK, GO, Refunding, FGIC-Insured, 6.000% due 10/1/14		569,065
	1,250,000		AAA		North Slope Boro, AK, Refunding, Series A, MBIA-Insured, 5.000% due
					6/30/15		1,335,700
					Total Alaska		2,900,075
Arizona — 0.4%
					Maricopa County, AZ, Hospital Revenue:
	75,000		AAA		Samaritan Health Service, 7.625% due 1/1/08 (b)		77,643
	569,000		AAA		St. Lukes Medical Center, 8.750% due 2/1/10 (a)(b)		630,845
	70,000		AAA		Pima County, AZ, IDA, Single-Family Housing Authority Revenue, Series A,
					GNMA/FNMA-Insured, FHLMC-Collateralized, 7.100% due 11/1/29 (c)(d)		71,649
					Total Arizona		780,137
Arkansas — 1.5%
	1,500,000		BBB		Arkansas State Development Finance Authority Hospital Revenue,
					Washington Regional Medical Center, Call 2/1/10 @ 100, 7.000% due
					2/1/15 (e)		1,670,850
	1,000,000		BB		Warren County, AR, Solid Waste Disposal Revenue, Potlatch Corp. Project,
					7.000% due 4/1/12 (c)		1,084,130
					Total Arkansas		2,754,980
California — 5.3%
	1,500,000		NR		Barona, CA, Band of Mission Indians, GO, 8.250% due 1/1/20		1,556,505
	3,000,000		AA-		California State Economic Recovery, Series A, 5.000% due 7/1/17 (a)		3,136,020
	410,000		NR		California Statewide COP Community Development Revenue, Refunding
					Hospital Triad Healthcare, 6.250% due 8/1/06 (b)		413,542
	10,000		NR		Loma Linda, CA, Community Hospital Corp. Revenue, First Mortgage,
					8.000% due 12/1/08 (b)		11,045
					Los Angeles, CA:
	1,115,000		NR		COP, Hollywood Presbyterian Medical Center, INDLC-Insured, 9.625%
					due 7/1/13 (b)		1,349,618
	1,000,000		AAA		Union School District, Series A, MBIA-Insured, Call 7/1/13 @ 100,
					5.375% due 7/1/18 (e)		1,096,810
	1,450,000		AAA		Morgan Hill, CA, USD, FGIC-Insured, 5.750% due 8/1/17		1,590,375
	365,000		AAA		San Francisco, CA, Airport Improvement Corp. Lease Revenue, United
					Airlines, Inc., 8.000% due 7/1/13 (b)		420,287
	120,000		AAA		San Leandro, CA, Hospital Revenue, Vesper Memorial Hospital, 11.500%
					due 5/1/11 (b)		144,437
					Total California		9,718,639
Colorado — 5.4%
	1,860,000		Aaa(f)		Broomfield, CO, COP, Open Space Park & Recreation Facilities, AMBAC-
					Insured, 5.500% due 12/1/20 (a)		1,978,147
See Notes to Schedule of Investments.

Page 1

---

INTERMEDIATE MUNI FUND, INC.

Schedule of Investments  (unaudited) (continued)

March 31, 2006

Face Amount			Rating‡		Security			Value
Colorado — 5.4% (continued)
					Colorado Educational & Cultural Facilities Authority Revenue Charter School:
$	1,000,000		BBB-		Bromley East Project, Series A, Call 9/15/11 @ 100, 7.000% due 9/15/20 (e)		$	1,152,300
	1,155,000		AAA		Bromley School Project, XLCA-Insured, 5.125% due 9/15/20			1,231,992
	1,350,000		AAA		Refunding & Improvement, University Lab School, XLCA-Insured,
					5.250% due 6/1/24			1,445,026
	500,000		Baa2(f)		University Lab School Project Call 6/1/11 @ 100, 6.125% due 6/1/21 (e)			554,675
	710,000		BBB		Denver, CO, Health & Hospital Authority, Series A, 6.250% due 12/1/16			765,508
	1,765,000		AAA		Pueblo, CO, Bridge Waterworks Water Revenue, Improvement, Series A,
					FSA-Insured, Call 11/1/10 @ 100, 6.000% due 11/1/14 (a)(e)			1,933,487
	750,000		A		SBC Metropolitan District, CO, GO, ACA-Insured, 5.000% due 12/1/25			759,698
					Total Colorado			9,820,833
Connecticut — 3.2%
	2,000,000		AA		Connecticut State HEFA Revenue, Bristol Hospital, Series B, 5.500% due
					7/1/21 (a)			2,158,980
	1,855,000		A		Connecticut State Special Obligation Parking Revenue, Bradley International
					Airport, Series A, ACA-Insured, 6.375% due 7/1/12 (a)(c)			2,024,065
	1,500,000		AAA		Connecticut State Special Tax Obligation Revenue, RITES, Series A, FSA-
					Insured, 6.815% due 10/1/09 (g)			1,719,810
					Total Connecticut			5,902,855
Florida — 4.7%
	195,000		AAA		Lee County, FL, Southwest Florida Regional Airport Revenue, MBIA-
					Insured, 8.625% due 10/1/09 (b)			212,913
	3,250,000		AAA		Lee, FL, Memorial Health System, Hospital Revenue, Series A, FSA-Insured,
					5.750% due 4/1/14 (a)			3,526,802
	1,640,000		NR		Old Palm Community Development District, FL, Palm Beach Gardens, Series
					B, 5.375% due 5/1/14			1,653,497
					Orange County, FL, Health Facilities Authority Revenue:
	700,000		NR		First Mortgage Healthcare Facilities, 8.750% due 7/1/11			743,519
	1,500,000		A+		Hospital Adventist Health Systems, 6.250% due 11/15/24			1,660,320
	455,000		Aaa(f)		Southern Adventist Hospital, Adventist Health Systems, 8.750% due
					10/1/09 (b)			497,925
	310,000		NR		Sanford, FL, Airport Authority Industrial Development Revenue, Central
					Florida Terminals Inc. Project A, 7.500% due 5/1/06 (c)			309,975
					Total Florida			8,604,951
Georgia — 3.7%
	970,000		Aaa(f)		Athens, GA, Housing Authority Student Housing Lease Revenue, University
					of Georgia East Campus, AMBAC-Insured, 5.250% due 12/1/23			1,031,440
	650,000		A-		Chatham County, GA, Hospital Authority Revenue, Hospital Memorial
					Health Medical Center, Series A, 6.000% due 1/1/17			698,262
	1,000,000		AAA		Gainesville, GA, Water & Sewer Revenue, FSA-Insured, 5.375% due
					11/15/20			1,071,570
	500,000		A1(f)		Georgia Municipal Electric Authority, Power System Revenue, Series X,
					6.500% due 1/1/12			542,820
	1,000,000		AAA		Griffin, GA, Combined Public Utilities Revenue, Refunding & Improvement,
					AMBAC-Insured, 5.000% due 1/1/21			1,051,220
	2,120,000		AAA		Metropolitan Atlanta Rapid Transit Georgia Sales Tax Revenue, Series E,
					7.000% due 7/1/11 (a)(b)			2,379,552
					Total Georgia			6,774,864
Illinois — 4.8%
	535,000		C(f)		Bourbonnais, IL, Industrial Development Revenue, Refunding Kmart Corp.
					Project, 6.600% due 10/1/06 (h)			5,350
	1,500,000		AAA		Chicago, IL, O'Hare International Airport Revenue, Refunding Bonds, Lien
					A-2, FSA-Insured, 5.750% due 1/1/19 (c)			1,637,655
	1,000,000		AAA		Cicero, IL, Tax Increment, Series A, XLCA-Insured, 5.250% due 1/1/21			1,067,030
See Notes to Schedule of Investments.

Page 2

---

INTERMEDIATE MUNI FUND, INC.

Schedule of Investments  (unaudited) (continued)

March 31, 2006

Face Amount			Rating‡		Security			Value
Illinois — 4.8% (continued)
$	1,030,000		AAA		Glendale Heights, IL, Hospital Revenue, Refunding Glendale Heights Project,
					Series B, 7.100% due 12/1/15 (b)		$	1,189,722
	1,000,000		AA		Harvey, IL, GO, Radian-Insured, 6.700% due 2/1/09			1,001,790
	485,000		BBB		Illinois Development Finance Authority, Chicago Charter School Foundation
					Project A, 5.250% due 12/1/12			496,722
					Illinois Health Facilities Authority Revenue:
	440,000		AAA		Methodist Medical Center of Illinois Project, 9.000% due 10/1/10 (b)			490,741
	265,000		AAA		Ravenswood Hospital Medical Center Project, 7.250% due 8/1/06 (b)			268,257
	1,310,000		AAA		Kane County, IL, GO, FGIC-Insured, 5.500% due 1/1/14			1,421,376
					Mount Veron, IL, Elderly Housing Corp., First Lien Revenue:
	235,000		Ba3(f)		7.875% due 4/1/06			235,000
	250,000		Ba3(f)		7.875% due 4/1/07			250,140
	270,000		Ba3(f)		7.875% due 4/1/08			269,946
	1,000,000		Aaa(f)		Will County, IL, GO, School District North 122 New Lenox, Capital
					Appreciation Refunding School, Series D, FSA-Insured, zero coupon
					bond to yield 5.188% due 11/1/24			421,980
					Total Illinois			8,755,709
Indiana — 0.6%
	800,000		AAA		Ball State University, Indiana University Revenue, Student Fee, Series K,
					FGIC-Insured, 5.750% due 7/1/20			871,104
	240,000		AAA		Madison County, IN, Hospital Authority Facilities Revenue, Community
					Hospital of Anderson Project, 9.250% due 1/1/10 (b)			267,598
					Total Indiana			1,138,702
Iowa — 1.2%
	1,000,000		A1(f)		Iowa Finance Authority, Health Care Facilities Revenue, Genesis Medical
					Center, 6.250% due 7/1/20			1,076,350
	940,000		AAA		Muscatine, IA, Electric Revenue, 9.700% due 1/1/13 (b)			1,134,148
					Total Iowa			2,210,498
Kansas — 1.8%
	1,000,000		BBB		Burlington, KS, Environmental Improvement Revenue, Kansas City Power &
					Light Project, Refunding, 4.750% due 10/1/07 (d)(i)			1,009,430
	2,245,000		AA		Johnson County, KS, Union School District, Series A, Call 10/1/09 @ 100,
					5.125% due 10/1/20 (a)(e)			2,352,558
					Total Kansas			3,361,988
Louisiana — 1.2%
	320,000		AAA		Louisiana Public Facilities Authority Hospital Revenue, Southern Baptist
					Hospital Inc. Project, Aetna-Insured, 8.000% due 5/15/12 (b)			356,586
	1,690,000		AAA		Monroe, LA, Sales & Use Tax Revenue, FGIC-Insured, 5.625% due 7/1/25			1,843,029
					Total Louisiana			2,199,615
Maryland — 1.8%
	1,000,000		AAA		Maryland State Health & Higher EFA Revenue, Refunding Mercy Medical
					Center, FSA-Insured, 6.500% due 7/1/13			1,114,910
	2,000,000		AAA		Montgomery County, MD, GO, 5.250% due 10/1/14 (a)			2,146,380
					Total Maryland			3,261,290
Massachusetts — 7.0%
	690,000		AAA		Boston, MA, Water & Sewer Commission Revenue, 10.875% due 1/1/09 (b)			770,985
	1,130,000		Aaa(f)		Lancaster, MA, GO, AMBAC-Insured, 5.375% due 4/15/17			1,223,903
	1,500,000		AAA		Massachusetts State, GO, RITES, Series PA 993-R, MBIA-Insured, 7.042%
					due 5/1/09 (g)			1,742,910
					Massachusetts State DFA Revenue:
	500,000		A		Curry College, Series A, ACA-Insured, 6.000% due 3/1/20			529,065
	370,000		AAA		VOA Concord, Series A, GNMA-Collateralized, 6.700% due 10/20/21			419,044
See Notes to Schedule of Investments.

Page 3

---

INTERMEDIATE MUNI FUND, INC.

Schedule of Investments  (unaudited) (continued)

March 31, 2006

Face Amount			Rating‡		Security			Value
Massachusetts — 7.0% (continued)
					Massachusetts State HEFA Revenue:
$	1,000,000		AAA		Berkshire Health Systems, Series F, 5.000% due 10/1/19		$	1,039,050
					Caritas Christi Obligation, Series B:
	2,000,000		BBB		6.500% due 7/1/12 (a)			2,167,840
	835,000		BBB		6.750% due 7/1/16			930,891
	1,000,000		BBB-		Milford-Whitinsville Regional Hospital, Series D, 6.500% due 7/15/23			1,072,130
	1,000,000		BBB+(j)		Winchester Hospital, Series E, Call 7/1/10 @ 101, 6.750% due 7/1/30 (e)			1,115,080
	1,100,000		AAA		Massachusetts State Industrial Finance Agency Assisted Living Facility
					Revenue, Arbors at Amherst Project, GNMA-Collateralized, 5.750% due
					6/20/17 (c)			1,168,761
	500,000		A3(f)		New England Education Loan Marketing Corp. Massachusetts Student Loan
					Revenue, Sub-Issue H, 6.900% due 11/1/09 (c)			522,890
					Total Massachusetts			12,702,549
Michigan — 3.3%
	1,775,000		AAA		Carrier Creek, MI, Drain District No. 326, AMBAC-Insured, 5.000% due
					6/1/24 (a)			1,866,750
	1,000,000		AAA		Jenison, MI, Public Schools GO, Building and Site, FGIC-Insured, 5.500%
					due 5/1/20			1,082,370
	1,000,000		Aaa(f)		Memphis, MI, Community Schools GO, Call 5/1/09 @ 100, 5.150% due
					5/1/19 (e)			1,032,030
	1,000,000		A		Michigan State Hospital Finance Authority Revenue, Oakwood Obligated
					Group, 5.500% due 11/1/18			1,061,890
	1,000,000		AAA		Walled Lake, MI, Consolidated School District, MBIA-Insured, 5.000% due
					5/1/22			1,047,500
					Total Michigan			6,090,540
Missouri — 1.7%
	1,000,000		AAA		Hazelwood, MO, School District, Missouri Direct Deposit Program, Series A,
					FGIC-Insured, 5.000% due 3/1/23			1,052,810
	405,000		A-(j)		Lees Summit, MO, IDA Health Facilities Revenue, John Knox Village,
					5.750% due 8/15/11			425,898
	1,000,000		Aaa(f)		Missouri State Environmental Improvement & Energy Resource Authority,
					Water Pollution Control, State Revolving Funds Program, Series C,
					5.250% due 7/1/18			1,106,690
	35,000		AAA		Missouri State Housing Development Community Mortgage Revenue, Series
					C, GNMA/FNMA-Collateralized, 7.450% due 9/1/27 (c)			35,823
	345,000		AAA		Nevada, MO, Waterworks Systems Revenue, AMBAC-Insured, 10.000% due
					10/1/10 (b)			399,037
					Total Missouri			3,020,258
Nebraska — 1.4%
					NebHELP Inc. Nebraska Revenue:
	1,500,000		AAA		Series A-5A, MBIA-Insured, 6.200% due 6/1/13 (c)			1,537,440
	1,000,000		AAA		Series A-6, MBIA-Insured, 6.450% due 6/1/18 (c)			1,036,590
					Total Nebraska			2,574,030
Nevada — 0.6%
					Henderson, NV, Health Care Facilities Revenue:
	470,000		A-		Pre-Refunded, Catholic West, Series A, 6.200% due 7/1/09 (b)			487,470
	535,000		A-		Unrefunded Balance, Catholic West, Series A, 6.200% due 7/1/09			568,213
					Total Nevada			1,055,683
New Hampshire — 0.5%
	865,000		A		New Hampshire HEFA, Covenant Healthcare System, 6.500% due 7/1/17			964,769
New Jersey — 0.1%
	170,000		AAA		Ringwood Borough, NJ, Sewer Authority Special Obligation, 9.875% due
					7/1/13 (b)			204,536
See Notes to Schedule of Investments.

Page 4

---

INTERMEDIATE MUNI FUND, INC.

Schedule of Investments  (unaudited) (continued)

March 31, 2006

Face Amount			Rating‡		Security			Value
New Mexico — 0.7%
$	1,100,000		AAA		Bernalillo County, NM, Gross Receipts Tax Revenue, AMBAC-Insured,
					5.250% due 10/1/18		$	1,210,231
New York — 2.7%
	895,000		NR		New York City, NY, IDA, Civic Facility Revenue, Community Hospital
					Brooklyn, 6.875% due 11/1/10			915,674
	1,760,000		AAA		New York State Dormitory Authority Revenue, Mental Health Services
					Facilities, 5.000% due 2/15/18 (a)			1,863,189
	2,000,000		AA-		Tobacco Settlement Financing Corp., New York, Asset-Backed, Series C-1,
					5.500% due 6/1/14 (a)			2,097,060
					Total New York			4,875,923
North Carolina — 1.4%
	170,000		AAA		Charlotte North Carolina Mortgage Revenue, Refunding Double Oaks
					Apartments, Series A, FNMA-Collateralized, 7.300% due 11/15/07			173,932
	1,000,000		BBB		North Carolina Eastern Municipal Power Agency, Power System Revenue,
					Series D, 6.450% due 1/1/14			1,087,390
	1,175,000		AAA		North Carolina Municipal Power Agency No. 1, Catawba Electricity Revenue,
					10.500% due 1/1/10 (b)			1,343,613
					Total North Carolina			2,604,935
Ohio — 7.3%
	1,370,000		AAA		Cleveland, OH, Waterworks Revenue, Series K, Call 1/1/12 @ 100, 5.250%
					due 1/1/21 (e)			1,470,750
	1,255,000		BBB		Cuyahoga County, OH, Hospital Facilities Revenue, Canton, Inc. Project,
					6.750% due 1/1/10			1,315,303
	1,855,000		Aaa(f)		Highland, OH, Local School District, School Improvement, FSA-Insured, Call
					12/1/11 @ 100, 5.750% due 12/1/19 (a)(e)			2,040,407
	1,000,000		Aaa(f)		Kettering, OH, City School District, School Improvement, FSA-Insured,
					5.000% due 12/1/19			1,057,500
					Lake County, OH, Hospital Improvement Revenue:
	210,000		AAA		Lake County Memorial Hospital Project, 8.625% due 11/1/09 (b)			229,990
	115,000		Aaa(f)		Ridgecliff Hospital Project, 8.000% due 10/1/09 (b)			124,101
	95,000		AAA		Lima, OH, Hospital Revenue, St. Rita Hospital of Lima, 7.500% due 11/1/06 (b)			97,185
	1,500,000		BBB-		Ohio State Air Quality Development Authority Revenue, Cleveland Pollution
					Control, Series A, 6.000% due 12/1/13			1,558,605
	3,010,000		AA+		Ohio State GO, Conservation Project, Series A, 5.250% due 9/1/13 (a)			3,193,881
					Ohio State Water Development Authority Revenue:
	1,785,000		AAA		9.375% due 12/1/10 (b)(k)			1,980,011
	245,000		AAA		Safe Water, Series 3, 9.000% due 12/1/10 (b)			269,154
					Total Ohio			13,336,887
Oklahoma — 0.7%
	55,000		AAA		Oklahoma State Industries Authority Revenue, Hospital Oklahoma Health
					Care Corp., Series A, Call 5/1/07 @ 100, 9.125% due 11/1/08 (e)			57,750
	260,000		BBB(j)		Tulsa, OK, Housing Assistance Corp. MFH Revenue, 7.250% due 10/1/07 (c)			261,430
					Tulsa, OK, Municipal Airport Trust Revenue, Refunding American Airlines,
					Series B:
	500,000		B-		5.650% due 12/1/08 (c)(d)(i)			495,475
	500,000		B-		6.000% due 12/1/08 (c)(d)(i)			499,710
					Total Oklahoma			1,314,365
Oregon — 1.2%
	935,000		BBB(j)		Klamath Falls, OR, International Community Hospital Authority Revenue,
					Merle West Medical Center Project, 8.000% due 9/1/08 (b)			987,790
	1,200,000		NR		Wasco County, OR, Solid Waste Disposal Revenue, Waste Connections Inc.
					Project, 7.000% due 3/1/12 (c)			1,264,236
					Total Oregon			2,252,026
See Notes to Schedule of Investments.

Page 5

---

INTERMEDIATE MUNI FUND, INC.

Schedule of Investments  (unaudited) (continued)

March 31, 2006

Face Amount			Rating‡		Security			Value
Pennsylvania — 6.4%
$	865,000		AAA		Conneaut, PA, School District GO, AMBAC-Insured, 9.500% due 5/1/12 (b)		$	990,598
	1,855,000		AAA		Delaware River Port Authority Pennsylvania and New Jersey, RITES, Series 964,
					FSA-Insured, 6.808% due 1/1/10 (a)(g)			2,153,395
	1,000,000		Aaa(f)		Harrisburg, PA, Parking Authority Parking Revenue, FSA-Insured, 5.500%
					due 5/15/20			1,081,690
	1,365,000		AA		Northampton County, PA, IDA Revenue, Mortgage Moravian Hall Square
					Project, Radian-Insured, 5.500% due 7/1/19			1,452,633
	1,000,000		AAA		Pennsylvania State IDA Revenue, Economic Development, AMBAC-Insured,
					5.500% due 7/1/21			1,089,260
	100,000		AAA		Philadelphia, PA, Hospital Authority Revenue, Thomas Jefferson University
					Hospital, 7.000% due 7/1/08 (b)			103,828
	1,000,000		AAA		Philadelphia, PA, School District, Series A, FSA-Insured, Call 2/1/12 @ 100,
					5.500% due 2/1/23 (e)			1,087,440
	2,000,000		AAA		Philadelphia, PA, Water & Wastewater, Series B, FGIC-Insured, 5.250% due
					11/1/14 (a)			2,150,340
	1,350,000		AAA		Pittsburgh, PA, School District GO, FSA-Insured, 5.375% due 9/1/16			1,498,190
					Total Pennsylvania			11,607,374
Puerto Rico — 0.8%
	1,500,000		BBB-		Puerto Rico Housing Bank & Finance Agency, 7.500% due 12/1/06			1,529,790
Rhode Island — 0.6%
	1,000,000		AA		Central Falls, RI, GO, Radian-Insured, 5.875% due 5/15/15			1,079,010
South Carolina — 3.3%
	95,000		AAA		Anderson County, SC, Hospital Facilities Revenue, 7.125% due 8/1/07 (b)			97,609
	1,445,000		AA		Charleston, SC, Waterworks & Sewer Revenue, 5.250% due 1/1/16			1,539,315
					Greenville County, SC, School District Installment Purchase Revenue, Building
					Equity Sooner for Tomorrow, Call 12/1/12 @ 101:
	2,000,000		AA-		5.875% due 12/1/19 (a)(e)			2,244,940
	2,000,000		AA-		6.000% due 12/1/21 (e)			2,222,983
					Total South Carolina			6,104,847
South Dakota — 1.9%
	2,400,000		Aa2(f)		Minnehana County, SD, GO, Limited Tax Certificates, Call 12/1/10 @ 100,
					5.625% due 12/1/20 (a)(e)			2,569,296
	795,000		A		South Dakota Economic Development Finance Authority, Economic
					Development Revenue, APA Optics, Series A, 6.750% due 4/1/16 (c)			821,108
					Total South Dakota			3,390,404
Tennessee — 0.5%
	530,000		AAA		Jackson, TN, Water & Sewer Revenue, 7.200% due 7/1/12 (b)			581,007
	355,000		Baa1(f)		McMinnville, TN, Housing Authority Revenue, Refunding First Mortgage
					Beersheba Heights, 6.000% due 10/1/09			366,186
					Total Tennessee			947,193
Texas — 7.8%
	2,000,000		Aa3(f)		Brazos River, TX, Harbor Navigation District, BASF Corp. Project, 6.750%
					due 2/1/10 (a)			2,207,180
	2,000,000		AAA		Dallas, TX, Area Rapid Transit Sales Tax Revenue, Senior Lien, AMBAC-
					Insured, 5.375% due 12/1/16 (a)			2,139,940
					Dallas-Fort Worth, TX:
	1,500,000		CCC		International Airport Facility, Improvement Corp. Revenue, Refunding,
					American Airlines, Series C, 6.150% due 11/1/07 (c)(d)(i)			1,484,505
	1,000,000		AAA		International Airport Revenue, Refunding, Series B, FSA-Insured,
					5.500% due 11/1/20			1,064,580
See Notes to Schedule of Investments.

Page 6

---

INTERMEDIATE MUNI FUND, INC.

Schedule of Investments  (unaudited) (continued)

March 31, 2006

Face Amount			Rating‡		Security			Value
Texas — 7.8% (continued)
					El Paso County, TX, Housing Finance Corp.:
$	275,000		Baa3(f)		La Plaza Apartments, Sub-Series C, 8.000% due 7/1/30		$	279,587
	360,000		A3(f)		MFH Revenue, Series A, American Village Communities, 6.250% due
					12/1/24			368,208
					El Paso, TX, Water & Sewer Revenue, Refunding & Improvement, Series A,
					FSA-Insured:
	45,000		AAA		6.000% due 3/1/15			49,890
	955,000		AAA		Call 3/1/12 @ 100, 6.000% due 3/1/15 (e)			1,059,305
	2,000,000		AA		Fort Worth, TX, Water & Sewer Revenue, Call 2/15/12 @ 100, 5.625% due
					2/15/17 (a)(e)			2,183,480
	585,000		AAA		Grand Prairie, TX, Housing Finance Corp., MFH Revenue, Landings of
					Carrier Project, Series A, GNMA-Collateralized, 6.650% due 9/20/22			649,110
	1,000,000		AAA		Harris County, TX, Hospital District Revenue, MBIA-Insured, 6.000% due
					2/15/15			1,085,920
	1,000,000		AAA		Southwest Higher Education Authority Inc., Southern Methodist University
					Project, AMBAC-Insured, 5.500% due 10/1/19			1,090,350
	275,000		Aaa(f)		Tarrant County, TX, Hospital Authority Revenue, Adventist Health System-
					Sunbelt, 10.250% due 10/1/10 (b)			317,455
	175,000		AAA		Texas State Department Housing Community Affairs Home Mortgage
					Revenue, RIBS Series C-2, GNMA/FNMA/FHLMC-Collateralized,
					10.271% due 7/2/24 (c)(l)			174,503
					Total Texas			14,154,013
Utah — 1.8%
	1,580,000		Aaa(f)		Salt Lake & Sandy, UT, Metropolitan Water District Revenue, Series A,
					AMBAC-Insured, 5.000% due 7/1/24			1,657,341
					Spanish Fork City, UT, Water Revenue, FSA-Insured:
	1,135,000		Aaa(f)		5.500% due 6/1/16			1,228,308
	350,000		Aaa(f)		Call 6/1/12 @ 100, 5.500% due 6/1/16 (e)			382,165
					Total Utah			3,267,814
Washington — 1.9%
	1,250,000		Aaa(f)		Cowlitz County, WA, School District, No. 122 Longview, FSA-Insured,
					5.500% due 12/1/19			1,335,512
	2,000,000		AAA		Energy Northwest Washington Electric Revenue, Project No. 3, Series A,
					FSA-Insured, 5.500% due 7/1/18 (a)			2,150,760
					Total Washington			3,486,272
West Virginia — 0.1%
	95,000		AAA		Cabell Putnam & Wayne Counties, WV, Single - Family Residence Mortgage
					Revenue, FGIC-Insured, 7.375% due 4/1/10 (b)			100,447
Wisconsin — 1.2%
	2,000,000		BBB		La Crosse, WI, Resource Recovery Revenue, Refunding Bonds, Northern
					States Power Co. Project, Series A, 6.000% due 11/1/21 (a)(c)			2,118,700
					TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS
					(Cost — $168,853,756)			173,936,325
SHORT-TERM INVESTMENTS(m) — 4.7%
Alaska — 0.5%
	900,000		A-1+		Valdez, AK, Marine Terminal, BP Pipelines Inc. Project, Series B, 3.190%,
					4/3/06			900,000
Florida — 0.1%
	100,000		VMIG1(f)		Brevard County, FL, Health Facilities Authority, Health Facilities Revenue,
					Refunding Bonds, Health First Inc. Project, LOC-SunTrust Bank,
					3.180%, 4/3/06			100,000
See Notes to Schedule of Investments.

Page 7

---

INTERMEDIATE MUNI FUND, INC.

Schedule of Investments  (unaudited) (continued)

March 31, 2006

Face Amount			Rating‡		Security			Value
Illinois — 1.1%
$	2,000,000		A-1+		Illinois Health Facilities Authority, University of Chicago Hospital Project,
					Series C, MBIA-Insured, LIQ-JPMorgan Chase, 3.130%, 4/3/06		$	2,000,000
Massachusetts — 0.2%
	400,000		VMIG1(f)		Massachusetts State HEFA, Capital Asset Program, Series E, LOC-Bank of
					America, 3.130%, 4/3/06			400,000
Pennsylvania — 0.3%
	100,000		A-1+		Geisinger Authority Pennsylvania Health Systems, 3.160%, 4/3/06			100,000
					Pennsylvania State Higher EFA, Carnegie Mellon University:
	100,000		A-1+		Series B, SPA-Morgan Guaranty Trust, 3.150%, 4/3/06			100,000
	200,000		A-1+		Series C, SPA-JPMorgan Chase, 3.150%, 4/3/06			200,000
	100,000		A-1+		Philadelphia, PA, Hospitals & Higher Education Facilities Authority, Hospital
					Revenue, Children's Hospital Project, Series A, SPA-JPMorgan Chase,
					3.140%, 4/3/06			100,000
					Total Pennsylvania			500,000
	Texas — 2.4%
					Bell County, TX, Health Facilities Development Corp. Revenue, Scott & White
					Memorial Hospital:
	1,000,000		A-1+		HFA, Series 2001-2, MBIA-Insured, SPA-Westdeutsche Landesbank,
					3.180%, 4/3/06			1,000,000
	1,200,000		A-1+		Series 2001-1, MBIA-Insured, SPA-JPMorgan Chase, 3.180%, 4/3/06			1,200,000
	800,000		A-1+		Series B-2, MBIA-Insured, SPA-Chase Bank of Texas N.A., 3.180%,
					4/3/06			800,000
					Harris County, TX, Health Facilities Development Corp. Revenue:
	500,000		A-1+		Refunding, The Methodist Hospital Systems, Series B, 3.170%, 4/3/06 (e)			500,000
	600,000		A-1+		Special Facilities, Texas Medical Center Project, MBIA-Insured, SPA-
					JPMorgan Chase, 3.180%, 4/3/06			600,000
	400,000		A-1+		St. Luke's Episcopal Hospital, Series B, SPA-Northern Trust Co.,
					Bayerische Landesbank, Bank of America, 3.170%, 4/3/06			400,000
					Total Texas			4,500,000
Virginia — 0.1%
	200,000		F-1+(j)		Alexandria, VA, IDA Revenue, Goodwin House, LOC-Wachovia Bank,
					3.170%, 4/3/06			200,000
					TOTAL SHORT-TERM INVESTMENTS       (Cost — $8,600,000)			8,600,000
					TOTAL INVESTMENTS — 100.0% (Cost — $177,453,756#)			$182,536,325

‡	All ratings are by Standard & Poor’s Ratings Service, unless otherwise noted.
(a)	All or a portion of this security is segregated for open futures contracts.
(b)	Bonds are escrowed to maturity by government securities and/or U.S. 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 security. Interest rate disclosed is that which is in effect at March 31, 2006.
(e)	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.
(f)	Rating by Moody's Investors Service.
(g)	Residual interest tax-exempt securities -- coupon varies inversely with level of short-term tax-exempt interest rates.
(h)	Security is currently in default.
(i)	Maturity date shown represents the mandatory tender date.
(j)	Rating by Fitch Ratings Service.
(k)	All or a portion of this security is held at the broker as collateral for open futures contracts.
(l)	Residual interest bonds--coupon varies inversely with level of short-term tax-exempt interest rates.
(m)	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 Notes to Schedule of Investments.

Page 8

---

INTERMEDIATE MUNI FUND, INC.

Schedule of Investments  (unaudited) (continued)

March 31, 2006

Abbreviations used in this schedule:
ACA	–	American Capital Assurance
AMBAC	–	Ambac Assurance Corporation
COP	–	Certificate of Participation
DFA	–	Development Finance Agency
EFA	–	Educational Facilities Authority
FGIC	–	Financial Guaranty Insurance Company
FHLMC	–	Federal Home Loan Mortgage Corporation
FNMA	–	Federal National Mortgage Association
FSA	–	Financial Security Assurance
GNMA	–	Government National Mortgage Association
GO	–	General Obligation
HEFA	–	Health & Educational Facilities Authority
HFA	–	Housing Finance Authority
IDA	–	Industrial Development Authority
INDLC	–	Industrial Indemnity Company
LIQ	–	Liquidity Facility
LOC	–	Letter of Credit
MBIA	–	Municipal Bond Investors Assurance Corporation
MFH	–	Multi-Family Housing
Radian	–	Radian Assets Assurance
RIBS	–	Residual Interest Bonds
RITES	–	Residual Interest Tax-Exempt Securities
SPA	–	Standby Bond Purchase Agreement
USD	–	Unified School District
XLCA	–	XL Capital Assurance Inc.

Summary of Investments by Industry * (unaudited)

Hospitals		16.6	%
Pre-Refunded		14.6
Education		11.5
Escrowed to Maturity		10.5
Transportation		8.0
General Obligation		7.8
Utilities		5.1
Miscellaneous		5.0
Pollution Control		4.9
Tax Allocation		4.0
Water & Sewer		3.3
Other		8.7
		100.0	%

* As a percentage of total investments. Please note that Fund holdings are as of March 31, 2006 and are subject to change.

See Notes to Schedule of Investments.

Page 9

---

INTERMEDIATE MUNI FUND, INC.

Bond Ratings  (unaudited)

The definitions of the applicable rating symbols are set forth below:

Standard & Poor’s Ratings Service (“Standard & Poor’s”) — Ratings from “AA” to “CCC” may be modified by the addition of a plus (+) or minus (-) sign to show relative standings within the major rating categories.

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.

Moody’s Investors Service (“Moody’s”) — Numerical modifiers 1, 2 and 3 may be applied to each generic rating from “Aa” to “Caa,” where 1 is the highest and 3 the lowest ranking within its generic category.

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.

---

INTERMEDIATE MUNI FUND, INC.

Bond Ratings  (unaudited) (continued)

B	—	Bonds rated “B” are 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.

Fitch Ratings Service (“Fitch”) — Ratings from “AA” to “CCC” may be modified by the addition of a plus (+) or minus (-) sign to show relative standings within the major rating categories

AAA	—	Bonds rated “AAA” have the highest rating assigned by Fitch. 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 and CC	—	Bonds rated “BB”, “B”, “CCC” and “CC”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 a lower degree of speculation than “B”, and “CC” 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.
NR	—	Indicates that the bond is not rated by Standard & Poor’s, Moody’s or Fitch.

Short-Term Security Ratings  (unaudited)

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.
F-1	—	Fitch’s highest rating indicating the strongest capacity for timely payment of financial commitments; those issues determined to possess overwhelming strong credit feature are denoted with a plus (+) sign.

---

INTERMEDIATE MUNI FUND, INC.

Notes to Schedule of Investments  (unaudited)

1. Organization and Significant Accounting Policies

The Intermediate Muni Fund, Inc. (the “Fund”) was incorporated in Maryland and is registered as a diversified, closed-end management investment company under the Investment Company Act of 1940, as amended, (the "1940 Act").

The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles (“GAAP”).

(a) Investment Valuation. Securities are valued at the mean between the bid and asked prices provided by an independent pricing service that are based on transactions in municipal obligations, quotations from municipal bond dealers, market transactions in comparable securities and various other relationships between securities. Securities for which market quotations are not readily available or are determined not to reflect fair value, will be valued in good faith by or under the direction of the Fund’s Board of Directors. Short-term obligations with maturities of 60 days or less are valued at amortized cost, which approximates value.

(b) Financial Futures Contracts. The Fund may enter into financial futures contracts typically to hedge a portion of the portfolio. Upon entering into a financial futures contract, the Fund is required to deposit cash or securities as initial margin. Additional securities are also segregated up to the current market value of the financial futures contracts. Subsequent payments, known as variation margin, are made or received by the Fund each day, depending on the daily fluctuation in the value of the underlying financial instruments. The Fund recognizes an unrealized gain or loss equal to the daily variation margin. When the financial futures contracts are closed, a realized gain or loss is recognized equal to the difference between the proceeds from (or cost of) the closing transactions and the Fund’s basis in the contracts.

The risks associated with entering into financial futures contracts include the possibility that a change in the value of the contract may not correlate with the changes in the value of the underlying instruments. In addition, investing in financial futures contracts involves the risk that the Fund could lose more than the original margin deposit and subsequent payments required for a futures transaction. Risks may also arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of their contracts.

(c) Security Transactions. Security transactions are accounted for on a trade date basis.

2. Investments

At March 31, 2006, the aggregate gross unrealized appreciation and depreciation of investments for federal income tax purposes were substantially as follows:

Gross unrealized appreciation		$6,179,588
Gross unrealized depreciation		(1,097,019	)
Net unrealized appreciation		$5,082,569

At March 31, 2006, the Fund had the following open futures contracts:

		Number of  Contracts		Expiration  Date		Basis  Value		Market  Value		Unrealized  Gain
Contracts to Sell: U.S. 10 Year Treasury Note		550		6/06		$58,798,438		$58,514,844		$283,594

---

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.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and 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.

Intermediate Muni Fund, Inc.

By /s/ R. Jay Gerken      
R. Jay Gerken
Chief Executive Officer

Date: May 30, 2006

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By /s/ R. Jay Gerken      
R. Jay Gerken
Chief Executive Officer

Date: May 30, 2006

By /s/ Robert J. Brault     
Robert J. Brault
Chief Financial Officer

Date: May 30, 2006