SEC File Number: 811-21403

                      U.S. SECURITIES AND EXCHANGE COMMISSION
                               WASHINGTON, D.C. 20549

                                     FORM 12B-25

                            NOTIFICATION OF LATE FILING

(Check One) :
[   ]  Form 10-K
[   ]  Form 11-K
[   ]  Form 20-F
[   ]  Form 10-Q
[   ]  Form N-SAR
[X]  Form N-CSR

For Period Ended:  December 31, 2003

[   ]  Transition Report on Form 10-K
[   ]  Transition Report Form on 20-F
[   ]  Transition Report Form on 11-K
[   ]  Transition Report Form on 10-Q
[   ]  Transition Report Form on N-SAR
[   ]  Transition Report Form on N-CSR

For the Transition Period Ended: _________________________.

If the notification  relates to a portion of the filing checked above,  identify
the Item(s) to which the notification relates: N/A.


Part I - Registrant Information

Full  Name  of  Registrant:   Western  Asset/Claymore  U.S.  Treasury  Inflation
Protected Securities Fund

Former Name if Applicable: N/A

Address of Principal  Executive  Office  (Street and Number):  385 East Colorado
Boulevard

City, State and Zip Code: Pasadena, California 91101

Part II - Rule 12b-25 (b) and (c)

If the subject report could not be filed without  unreasonable effort or expense
and the  registrant  seeks  relief  pursuant to rule 12b-25 (b),  the  following
should be completed. [Check box if appropriate.]

[ X ] (a) The reasons  described in  reasonable  detail in Part III of this form
could not be eliminated without unreasonable effort or expense;

(b) The subject  annual  report or  semi-annual  report/portion  thereof will be
filed on or before the fifteenth calendar day following the prescribed due date;
or the subject quarterly  report/portion  thereof will be filed on or before the
fifth calendar day following the prescribed due date; and

(c) The  accountant's  statement or other exhibit required by Rule 12b-25 (c)has
been attached if applicable.

Part III  - Narrative

The  registrant  is filing Form N-CSR on the date  hereof due to an  inadvertent
miscalculation of the applicable filing deadline.

Part IV  - Other Information

(1)  Name  and  telephone  number  of  person  to  contact  in  regard  to  this
notification:

Sean Fitzpatrick, (410) 454-2744

(2) Have all other  periodic  reports  required under section 13 or 15(d) of the
Securities  Exchange Act of 1934 or section 30 of the Investment  Company Act of
1940  during  the  preceding  12  months  or for such  shorter  period  that the
registrant was required to file such report(s) been filed?  If the answer is no,
identify report(s).

Yes  [ X ]  No  [   ]

(3) Is it anticipated that any significant  change in results of operations from
the  corresponding  period for the last  fiscal  year will be  reflected  by the
earnings statements to be included in the subject report or portion thereof?

Yes [ ] No [ X ]

If so: attach an  explanation  of the  anticipated  change,  both  narrative and
quantitatively,  and,  if  appropriate,  state  then  reasons  why a  reasonable
estimate of the results cannot be made.

A copy of the Agreement and Declaration of Trust of Western  Asset/Claymore U.S.
Treasury Inflation  Protected  Securities Fund (the "Trust") is on file with the
Secretary of The Commonwealth of Massachusetts,  and notice is hereby given that
this  instrument  has been  executed on behalf of the Trust by an officer of the
Trust as an officer and not  individually  and the obligations of or arising out
of this  instrument  are not  binding  upon  any of the  Trustees,  officers  or
shareholders of the Trust  individually but are binding only upon the assets and
property of the Trust.

Western  Asset/Claymore  U.S. Treasury Inflation  Protected  Securities Fund has
caused this notification to be signed on its behalf by the undersigned thereunto
duly authorized.

Date: 3/11/04

By: Gregory B. McShea
Gregory B. McShea
Vice President
Western Asset/Claymore U.S. Treasury Inflation Protected Securities Fund