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SALOMON BROTHERS INVESTMENT SERIES
7 WORLD TRADE CENTER
NEW YORK, NEW YORK 10048
(800) SALOMON
(800) 725-6666
SUPPLEMENT DATED OCTOBER 29, 1997
TO PROSPECTUS DATED APRIL 29, 1997
The following information supplements and should be read in conjunction with the
section of the current Prospectus for Salomon Brothers Investment Series (the
'Series') entitled 'Management:'
'On September 24, 1997, Travelers Group Inc. ('Travelers') and Salomon Inc
('Salomon'), the ultimate parent company of Salomon Brothers Asset
Management Inc ('SBAM'), Salomon Brothers Asset Management Limited ('SBAM
Ltd.') and Salomon Brothers Asset Management Asia Pacific Limited ('SBAM
AP'), announced their agreement to merge Salomon with and into Smith Barney
Holdings Inc., a subsidiary of Travelers, to form a new company expected to
be called Salomon Smith Barney Holdings Inc. (the 'Transaction'). Upon
consummation of the Transaction, Travelers will become the ultimate parent
of SBAM, SBAM Ltd. and SBAM AP, which will continue to serve as the
investment adviser, and subadvisers, respectively, to the Series.
Travelers is a diversified financial services company engaged in
investment services, asset management, consumer finance and life and
property casualty insurance services.
Under certain interpretations, the Transaction might be deemed to
create an 'assignment,' as defined in the Investment Company Act of 1940,
as amended, of the Management Contracts with SBAM and the Subadvisory
Agreements between SBAM and SBAM Ltd. and SBAM AP with regard to certain
of the Funds, which, if so interpreted, would result in the termination
of such contracts and agreements. Accordingly, at a Special Meeting of
the Board of Directors held on October 28, 1997, the Board approved new
management contracts and subadvisory agreements for the Funds identical
in all material respects to the existing contracts and agreements, to be
presented to stockholders for approval.
The Transaction is expected to be completed by the end of
November 1997, subject to a number of conditions, including the
receipt of U.S. and foreign regulatory approvals and the approval of
Salomon stockholders.'
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SALOMON BROTHERS INVESTMENT SERIES
7 WORLD TRADE CENTER
NEW YORK, NEW YORK 10048
(800) SALOMON
(800) 725-6666
SUPPLEMENT DATED OCTOBER 29, 1997
TO STATEMENT OF ADDITIONAL INFORMATION DATED APRIL 29, 1997
The following information supplements and should be read in conjunction with the
section of the current Statement of Additional Information for Salomon Brothers
Investment Series (the 'Series') entitled 'Investment Manager:'
'On September 24, 1997, Travelers Group Inc. ('Travelers') and Salomon Inc
('Salomon'), the ultimate parent company of Salomon Brothers Asset
Management Inc ('SBAM'), Salomon Brothers Asset Management Limited ('SBAM
Ltd.') and Salomon Brothers Asset Management Asia Pacific Limited ('SBAM
AP'), announced their agreement to merge Salomon with and into Smith Barney
Holdings Inc., a subsidiary of Travelers, to form a new company expected to
be called Salomon Smith Barney Holdings Inc. (the 'Transaction'). Upon
consummation of the Transaction, Travelers will become the ultimate parent
of SBAM, SBAM Ltd. and SBAM AP, which will continue to serve as the
investment adviser, and subadvisers, respectively, to the Series.
Travelers is a diversified financial services company engaged in
investment services, asset management, consumer finance and life and
property casualty insurance services.'
Under certain interpretations, the Transaction might be deemed to
create an 'assignment,' as defined in the Investment Company Act of 1940,
as amended, of the Management Contracts with SBAM and the Subadvisory
Agreements between SBAM and SBAM Ltd. and SBAM AP with regard to certain
of the Funds, which, if so interpreted, would result in the termination
of such contracts and agreements. Accordingly, at a Special Meeting of
the Board of Directors held on October 28, 1997, the Board approved new
management contracts and subadvisory agreements for the Funds identical
in all material respects to the existing contracts and agreements, to be
presented to stockholders for approval.
The Transaction is expected to be completed by the end of
November 1997, subject to a number of conditions, including the
receipt of U.S. and foreign regulatory approvals and the approval of
Salomon stockholders.'
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