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<PAGE> PAGE 2
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<PAGE> PAGE 6
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SIGNATURE
TITLE
EXHIBIT A: Attachment to item 77B:
Accountant's Report on internal control
There is no Accountant's Report on internal control for this filing since the
assets and liabilities of the Alterman Investment Fund were assumed by the
Georgia Portfolio of Smith Barney Muni Funds as of December 10, 1999 (before
the end of the Alterman Investment Fund's fiscal year), and no audit was
conducted for the Alterman Investment Fund in connection with this
transaction.
EXHIBIT B:
SUB-ITEM 77C: Submission of matters to a vote of security holders.
(a) The Annual Meeting of Shareholders of Alterman Investment Fund, Inc.
("Alterman") was held on December 7, 1999.
(b) Perry Alterman, Daniel Alterman, Kusiel Kaplan, Stanley Friedman and Joel
F. Fryer
(c) PROPOSAL 1: The approval or disapproval of the proposed Agreement and Plan
of Reorganization for Alterman, pursuant to which Alterman shall transfer all or
substantially all of its assets and all of its stated liabilities, in exchange
for issued and outstanding Class A voting shares of the Georgia Portfolio of
Smith Barney Muni Funds, and Alterman shall liquidate and distribute pro rata to
its shareholders the Georgia Portfolio Shares received from Georgia Portfolio,
terminate as a closed-end management investment company under the Investment
Company Act of 1940, as amended, and then dissolve as a corporation under
Delaware law was voted as follows:
<TABLE>
<CAPTION>
Number of Shares Voting for Number of Shares Voting Against Number of Shares Abstaining from
Proposal 1 Proposal 1 Voting on Proposal 1
<S> <C> <C> <C>
502,184 150 100
</TABLE>
PROPOSAL 2: The approval or disapproval of the proposed election of Perry
Alterman, Daniel Alterman, Kusiel Kaplan, Stanley Friedman and Joel F. Fryer as
directors of Alterman, to hold office until the next annual meeting of
stockholders and until their successors shall be elected and shall qualify was
voted as follows:
FOR WITHOLD
Perry Alterman 659,604 410
Daniel Alterman 659,604 410
Kusiel Kaplan 659,604 410
Stanley Friedman 659,604 410
Joel F. Fryer 659,604 410
PROPOSAL 3: The approval or disapproval of the proposed ratification of the
selection of Birnbrey, Minsk and Minsk LLC as auditors of the Fund for fiscal
2000, subject to termination without penalty upon the vote of a majority of the
outstanding voting securities of the Fund was voted as follows:
FOR - 659,764 shares
AGAINST - 150 shares
ABSTAIN - shares
PAGE NUMBER: 72
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-10-1999
<INVESTMENTS-AT-COST> 21,363
<INVESTMENTS-AT-VALUE> 21,369
<RECEIVABLES> 381
<ASSETS-OTHER> 8
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 21,758
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<OTHER-ITEMS-LIABILITIES> 160
<TOTAL-LIABILITIES> 160
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<SHARES-COMMON-STOCK> 788
<SHARES-COMMON-PRIOR> 788
<ACCUMULATED-NII-CURRENT> 0
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<ACCUMULATED-NET-GAINS> 0
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<NET-ASSETS> 21,598
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 656
<OTHER-INCOME> 0
<EXPENSES-NET> 132
<NET-INVESTMENT-INCOME> 0
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> (701)
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<DISTRIBUTIONS-OF-INCOME> 540
<DISTRIBUTIONS-OF-GAINS> 10
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (727)
<ACCUMULATED-NII-PRIOR> 596
<ACCUMULATED-GAINS-PRIOR> 706
<OVERDISTRIB-NII-PRIOR> 15
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 14
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 132
<AVERAGE-NET-ASSETS> 21,762
<PER-SHARE-NAV-BEGIN> 28.34
<PER-SHARE-NII> .67
<PER-SHARE-GAIN-APPREC> (.89)
<PER-SHARE-DIVIDEND> .686
<PER-SHARE-DISTRIBUTIONS> .012646
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 27.42
<EXPENSE-RATIO> .61
</TABLE>
