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SALOMON BROTHERS INVESTMENT SERIES
7 World Trade Center
New York, New York 10048
(800) SALOMON
(800) 725-6666
SUPPLEMENT DATED DECEMBER 1, 1997 TO PROSPECTUS DATED
APRIL 29, 1997
The following information supplements and should be read in conjunction with the
caption "Investment Manager" under the heading of the current Prospectus for
Salomon Brothers Investment Series (the "Series") entitled "Management" and the
caption "Distributor" under the heading of such Prospectus entitled "Purchase of
Fund Shares:"
"On November 28, 1997, Salomon Inc ("Salomon"), the ultimate parent company
of Salomon Brothers Asset Management Inc ("SBAM"), Salomon Brothers Asset
Management Limited ("SBAM Ltd."), Salomon Brothers Asset Management Asia Pacific
Limited ("SBAM AP"), and Salomon Brothers Inc ("Salomon Brothers"), the Series
Funds' distributor, merged with and into Smith Barney Holdings Inc., a
subsidiary of Travelers Group Inc. ("Travelers"), to form a new company called
Salomon Smith Barney Holdings Inc. (the "Transaction"). Upon consummation of the
Transaction, Travelers became the ultimate parent of SBAM, SBAM Ltd., SBAM AP
and Salomon Brothers, which continue to serve as the investment adviser,
subadvisers and distributor, 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:
(i) the Management Contracts with SBAM; (ii) the Subadvisory Agreements between
SBAM and SBAM Ltd. on the one hand and SBAM and SBAM AP, on the other hand, with
regard to certain of the Funds; and (iii) the Distribution Agreements with
Salomon Brothers, which, if so interpreted, would have resulted in the
termination of such contracts and agreements. Accordingly, the Board approved
new management contracts, subadvisory agreements and distribution agreements for
the Funds identical in all material respects to the existing contracts and
agreements, which became effective on November 28, 1997. The new management and
subadvisory agreements will be presented to stockholders for approval at Special
Meetings of Stockholders scheduled to held on January 14, 1998."
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SALOMON BROTHERS INVESTMENT SERIES
7 World Trade Center
New York, New York 10048
(800) SALOMON
(800) 725-6666
SUPPLEMENT DATED DECEMBER 1, 1997 TO
STATEMENT OF ADDITIONAL INFORMATION DATED
APRIL 29, 1997
The following information supplements and should be read in conjunction with the
captions "Investment Manager" and "Distributor" contained under the heading of
the current Statement of Additional Information for Salomon Brothers Investment
Series (the "Series") entitled "Investment Management:"
"On November 28, 1997, Salomon Inc ("Salomon"), the ultimate parent company
of Salomon Brothers Asset Management Inc ("SBAM"), Salomon Brothers Asset
Management Limited ("SBAM Ltd."), Salomon Brothers Asset Management Asia Pacific
Limited ("SBAM AP"), and Salomon Brothers Inc ("Salomon Brothers"), the Series
Funds' distributor, merged with and into Smith Barney Holdings Inc., a
subsidiary of Travelers Group Inc. ("Travelers"), to form a new company called
Salomon Smith Barney Holdings Inc. (the "Transaction"). Upon consummation of the
Transaction, Travelers became the ultimate parent of SBAM, SBAM Ltd., SBAM AP
and Salomon Brothers, which continue to serve as the investment adviser,
subadvisers and distributor, 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:
(i) the Management Contracts with SBAM; (ii) the Subadvisory Agreements between
SBAM and SBAM Ltd. on the one hand and SBAM and SBAM AP, on the other hand, with
regard to certain of the Funds; and (iii) the Distribution Agreements with
Salomon Brothers, which, if so interpreted, would have resulted in the
termination of such contracts and agreements. Accordingly, the Board approved
new management contracts, subadvisory agreements and distribution agreements for
the Funds identical in all material respects to the existing contracts and
agreements, which became effective on November 28, 1997. The new management and
subadvisory agreements will be presented to stockholders for approval at Special
Meetings of Stockholders scheduled to held on January 14, 1998."
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