Smith Barney Managed Municipals Fund Inc.
Supplement dated April 27, 1998 to
Prospectus dated June 25, 1997
The following information supplements the information in the Prospectus
under "Investment Objectives and Management Policies"
Zero Coupon Bonds
The Fund may also in zero coupon bonds. Such bonds carry an additional
risk that, unlike bonds which pay interest throughout the period to
maturity, the Fund will realize no cash until the cash payment date
unless a portion of such bonds is sold and, if the issuer defaults, the
Fund may obtain no return at all on its investment.
FD01448
