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<PAGE> 1 SMITH BARNEY PRINCIPAL PLUS FUTURES FUND L.P. II SUPPLEMENT DATED JUNE 28, 1996 TO THE PROSPECTUS DATED FEBRUARY 29, 1996 Consistent with the terms of the Prospectus for Smith Barney Principal PLUS Futures Fund L.P. II, the General Partner has determined to extend the offering for a period of up to an additional 90 days from the date hereof. The General Partner, however, at its sole discretion may end the offering at an earlier date.
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