SMITH BARNEY INVESTMENT FUNDS, INC.
on behalf of the
Smith Barney Investment Grade Bond Fund
Smith Barney Government Securities Fund
Smith Barney Special Equities Fund
Smith Barney Managed Growth Fund
Smith Barney Concert Peachtree Growth Fund
(the "Funds")
Supplement dated March 10, 1998 to
Statement of Additional Information dated April 30,
1997
On March 9, 1998, shareholders of the Funds
approved the elimination of the following fundamental
policy limiting the Funds' participation in joint
securities trading accounts:
"No Fund may participate on a joint or a joint
and several basis in any trading account in
securities. (The "bunching" of orders of two or more
Funds--or of one or more Funds and of other accounts--
for the sale or purchase of portfolio securities shall
not be considered participation in a joint securities
trading account)."
