Smith Barney Shearson Telecommunications Growth Fund
(the "Fund")
Supplement to Prospectus
Dated March 1, 1994
The following information replaces the disclosure found in the Fund's
Prospectus under the headings "Prospectus Summary--Management of the Fund" and
"Management of the Fund--Investment Adviser:"
Investment Adviser
Smith Barney Strategy Advisers Inc. ("SBSA") serves as the Fund's
investment adviser pursuant to an investment advisory agreement dated July 27,
1994. For investment advisory services rendered, SBSA receives a fee paid
monthly at the annual rate of .55% of the value of the Fund's average daily
net assets. SBSA is located at 1345 Avenue of the Americas, New York, New
York 10105 and has been in the investment counseling business since 1968.
SBSA is a wholly owned subsidiary of Smith Barney Holdings Inc., which is in
turn a wholly owned subsidiary of The Travelers Inc. ("Travelers"). Travelers
is a financial services holding company engaged through its subsidiaries
principally in the businesses of consumer financial, investment and insurance
services.
Sub-Investment Adviser
The Boston Company Advisors, Inc. ("Boston Advisors") serves as the
Fund's sub-investment adviser pursuant to a sub-investment advisory agreement
dated July 27, 1994. For sub-investment advisory services rendered, Boston
Advisors receives a fee from SBSA, paid monthly at the annual rate of .275% of
the value of the Fund's average daily net assets. Boston Advisors is located
at One Boston Place, Boston, Massachusetts 02108 and is a wholly owned
subsidiary of The Boston Company, Inc. ("TBC"). TBC is a wholly owned
subsidiary of Mellon Bank Corporation ("Mellon"). Mellon is a publicly owned
holding company registered under the Federal Banking Holding Company Act of
1956 and through its subsidiaries provides a comprehensive range of financial
products and services in domestic and selected international markets.
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August 1, 1994
domestic\clients\shearson\funds\att\atgr\tbcstk.doc 03:08 PM
