SMITH BARNEY MUTUAL FUNDS
Supplement dated July 31, 1995 to the Prospectuses of the Funds indicated
below:
Effective immediately, employees of members of the National
Association of Securities Dealers, Inc. may purchase Class A shares of
Smith Barney mutual funds at net asset value.
FUND DATE
Smith Barney Adjustable Rate Government Income Fund July 30, 1994
Smith Barney Aggressive Growth Fund Inc. November 7, 1994
Smith Barney Appreciation Fund Inc. March 1, 1995
Smith Barney Arizona Municipals Fund Inc. July 30, 1994
Smith Barney California Municipals Fund Inc. April 29, 1995
Smith Barney Equity Fund April 1, 1995
Smith Barney Fundamental Value Fund Inc. February 1, 1995
Smith Barney Florida Municipals Fund December 30, 1995
Smith Barney Funds, Inc. April 28, 1995
Smith Barney Growth Opportunity Fund May 1, 1995
Smith Barney Income Funds November 7, 1994
Smith Barney Income Trust January 29, 1995
Smith Barney Investment Funds March 1, 1995
Smith Barney Managed Governments Fund Inc. November 7, 1994
Smith Barney Managed Municipals Fund Inc. April 29, 1995
Smith Barney Massachusetts Municipals Fund Inc. March 1, 1995
Smith Barney New Jersey Municipals Fund Inc. May 29, 1995
Smith Barney New York Municipals Fund Inc. March 1,1995
Smith Barney Oregon Municipals Fund June 29, 1995
Smith Barney Precious Metals and Minerals Fund Inc. March 1, 1995
Smith Barney Telecommunications Growth Fund May 1, 1995
Smith Barney World Funds, Inc. February 28, 1995
