VIA EDGAR
May 27, 1994
Securities and Exchange Commission
Mail Stop 0-7
6432 General Green Way
Alexandria, VA 22312
Re: Smith Barney Shearson Investment Funds Inc.
Smith Barney Shearson European Fund
Smith Barney Shearson Government Securities Fund
Smith Barney Shearson Investment Grade Bond Fund
Smith Barney Shearson Special Equities Fund
File No. 2-74288
Dear Sir or Madam:
Pursuant to Rule 497(e) under the Securities Act of 1933, please find enclosed
for filing on behalf of each of the above-referenced Funds, one (1) copy of a
Supplement dated May 20, 1994, relating to each Fund's Prospectus dated as
indicated in the footnote to the Supplement, filed via EDGAR on March 1, 1994.
Please return an electronic transmittal as evidence of your receipt of this
filing.
Very truly yours,
/s/ James B. O'Connell
James B. O'Connell
Senior Legal Product Manager
Enclosures
shearsn2/sliv/suppltr.doc
shared/domestic/amw\suppltr.doc
