SMITH BARNEY MANAGED GOVERNMENTS FUND INC.
(the "Fund")
Supplement to Statement of Additional Information
dated November 29, 1995
On December 5, 1995, the shareholders of the Fund elected
six additional Directors to the Board. Set forth below is
the list of new Directors, together with information as to
their principal business occupations during the past five
years. Each Director who is an "interested person" of the
Fund, as defined in the Investment Company Act of 1940, as
amended, is indicated by an asterisk.
Herbert Barg (Age 72). Private Investor. His address is
274 Montgomery Avenue, Bala Cynwyd, Pennsylvania 19004.
* Alfred J. Bianchetti (Age 73). Retired; formerly Senior
Consultant to Dean Witter Reynolds Inc. His address is 19
Circle End Drive, Ramsey, New Jersey 07446.
Martin Brody (Age 74). Vice Chairman of the Board of
Restaurant Associates Industries Corp. and a Director of
Jaclyn, Inc. His address is HMK Associates, Three ADP
Boulevard, Roseland, New Jersey 07068.
Dwight B. Crane (Age 58). Professor, Graduate School of
Business Administration, Harvard University and a Director
of Peer Review Analysis, Inc. His address is Graduate
School of Business Administration, Harvard University,
Boston, Massachusetts 02163.
Stephen E. Kaufman (Age 63). Attorney. His address is 277
Park Avenue, New York, New York 10172.
Joseph J. McCann (Age 65). Financial Consultant and
formerly Vice President of Ryan Homes, Inc. His address is
200 Oak Park Place, Pittsburgh, Pennsylvania 15243.
____________________________________
Supplement dated December 14, 1995
FD 01058 12/95
