SMITH BARNEY NEW YORK MUNICIPALS FUND INC.
Supplement to Statement of Additional Information dated
March 1, 1995
The following information supplements the
information contained in the Fund's Statement of Additional
Information dated March 1, 1995:
On July 10, 1995, Standard & Poor's Ratings Group
("Standard & Poor's") downgraded its rating on New York
City's $23 billion of outstanding general obligation bonds
to "BBB+" from "A-", citing to the City's chronic
structural budget problems and weak economic outlook.
Standard & Poor's stated that New York City's reliance on
one-time revenue measures to close annual budget gaps, a
dependence on unrealized labor savings, overly optimistic
estimates of revenues and state and federal aid and the
City's continued high debt levels also contributed to its
decision to lower the rating.
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Supplement dated July 20, 1995
