u:\cunningham\smmustck.doc
SMITH BARNEY MANAGED MUNICIPALS FUND INC.
(the "Fund")
Supplement to Prospectus
dated April 29, 1995
On June 12, 1995, SBMFM assumed responsibility for all
administrative functions for the Fund, including the
functions previously performed by The Boston Company
Advisors, Inc. ("Boston Advisors"). As of that date, Boston
Advisors ceased to serve as sub-administrator to the Fund.
Also, as of June 12, 1995, PNC Bank, National Association
("PNC") assumed responsibility as the custodian of the Fund.
As of that date, Boston Safe Deposit and Trust Company, an
affiliate of Boston Advisors, ceased to serve as the Fund's
custodian. PNC is located at 17th and Chestnut Streets,
Philadelphia, Pennsylvania.
Effective as of July 15, 1995, employees of members of
the National Association of Securities Dealers, Inc. may
purchase Class A shares of the Fund at net asset value.
The following modifies the disclosure found in the
Fund's Prospectus under the headings "Prospectus Summary - -
Investment Objective" and "Investment Objective and
Management Policies:"
Intermediate- and long-term municipal securities have
remaining maturities at the time of purchase of three
to in excess of twenty years.
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Supplement dated September 15, 1995
FD 01019 9/95
