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<PAGE> PAGE 2
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<PAGE> PAGE 3
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SIGNATURE THOMAS M. REYNOLDS
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000764624
[NAME] SMITH BARNEY INCOME FUNDS
[SERIES]
[NUMBER] 1
[NAME] SMITH BARNEY PREMIUM TOTAL RETURN FUND. CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 3,449,648,469
[INVESTMENTS-AT-VALUE] 4,782,235,979
[RECEIVABLES] 24,462,940
[ASSETS-OTHER] 745
[OTHER-ITEMS-ASSETS] 511,704,634
[TOTAL-ASSETS] 5,318,404,298
[PAYABLE-FOR-SECURITIES] 33,106,398
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 710,283,641
[TOTAL-LIABILITIES] 743,390,039
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 3,156,822,667
[SHARES-COMMON-STOCK] 41,154,586
[SHARES-COMMON-PRIOR] 37,557,037
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 26,479,912
[ACCUMULATED-NET-GAINS] 145,264,920
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 1,299,406,584
[NET-ASSETS] 4,575,014,259
[DIVIDEND-INCOME] 43,708,840
[INTEREST-INCOME] 18,383,934
[OTHER-INCOME] 0
[EXPENSES-NET] 32,626,511
[NET-INVESTMENT-INCOME] 29,466,263
[REALIZED-GAINS-CURRENT] 185,198,626
[APPREC-INCREASE-CURRENT] 88,812,497
[NET-CHANGE-FROM-OPS] 303,477,386
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 12,595,820
[DISTRIBUTIONS-OF-GAINS] 15,194,366
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 5,185,686
[NUMBER-OF-SHARES-REDEEMED] 2,574,350
[SHARES-REINVESTED] 986,213
[NET-CHANGE-IN-ASSETS] 427,268,827
[ACCUMULATED-NII-PRIOR] 2,451,865
[ACCUMULATED-GAINS-PRIOR] 33,267,800
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 12,056,197
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 32,626,511
[AVERAGE-NET-ASSETS] 910,489,462
[PER-SHARE-NAV-BEGIN] 22.19
[PER-SHARE-NII] 00.27
[PER-SHARE-GAIN-APPREC] 01.35
[PER-SHARE-DIVIDEND] 00.32
[PER-SHARE-DISTRIBUTIONS] 00.37
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 23.12
[EXPENSE-RATIO] 01.11
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000764624
[NAME] SMITH BARNEY INCOME FUNDS
[SERIES]
[NUMBER] 1
[NAME] SMITH BARNEY PREMIUM TOTAL RETURN FUND. CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 3,449,648,469
[INVESTMENTS-AT-VALUE] 4,782,235,979
[RECEIVABLES] 24,462,940
[ASSETS-OTHER] 745
[OTHER-ITEMS-ASSETS] 511,704,634
[TOTAL-ASSETS] 5,318,404,298
[PAYABLE-FOR-SECURITIES] 33,106,398
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 710,283,641
[TOTAL-LIABILITIES] 743,390,039
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 3,156,822,667
[SHARES-COMMON-STOCK] 148,683,757
[SHARES-COMMON-PRIOR] 142,960,574
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 26,479,912
[ACCUMULATED-NET-GAINS] 145,264,920
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 1,299,406,584
[NET-ASSETS] 4,575,014,259
[DIVIDEND-INCOME] 43,708,840
[INTEREST-INCOME] 18,383,934
[OTHER-INCOME] 0
[EXPENSES-NET] 32,626,511
[NET-INVESTMENT-INCOME] 29,466,263
[REALIZED-GAINS-CURRENT] 185,198,626
[APPREC-INCREASE-CURRENT] 88,812,497
[NET-CHANGE-FROM-OPS] 303,477,386
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 43,552,826
[DISTRIBUTIONS-OF-GAINS] 54,929,350
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 13,921,781
[NUMBER-OF-SHARES-REDEEMED] 11,600,957
[SHARES-REINVESTED] 3,402,359
[NET-CHANGE-IN-ASSETS] 427,268,827
[ACCUMULATED-NII-PRIOR] 2,451,865
[ACCUMULATED-GAINS-PRIOR] 33,267,800
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 12,056,197
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 32,626,511
[AVERAGE-NET-ASSETS] 3,341,172,260
[PER-SHARE-NAV-BEGIN] 22.17
[PER-SHARE-NII] 00.14
[PER-SHARE-GAIN-APPREC] 01.42
[PER-SHARE-DIVIDEND] 00.30
[PER-SHARE-DISTRIBUTIONS] 00.37
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 23.06
[EXPENSE-RATIO] 01.60
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000764624
[NAME] SMITH BARNEY INCOME FUNDS
[SERIES]
[NUMBER] 1
[NAME] SMITH BARNEY PREMIUM TOTAL RETURN FUND. CLASS L
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 3,449,648,469
[INVESTMENTS-AT-VALUE] 4,782,235,979
[RECEIVABLES] 24,462,940
[ASSETS-OTHER] 745
[OTHER-ITEMS-ASSETS] 511,704,634
[TOTAL-ASSETS] 5,318,404,298
[PAYABLE-FOR-SECURITIES] 33,106,398
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 710,283,641
[TOTAL-LIABILITIES] 743,390,039
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 3,156,822,667
[SHARES-COMMON-STOCK] 239,849
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 26,479,912
[ACCUMULATED-NET-GAINS] 145,264,920
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 1,299,406,584
[NET-ASSETS] 4,575,014,259
[DIVIDEND-INCOME] 43,708,840
[INTEREST-INCOME] 18,383,934
[OTHER-INCOME] 0
[EXPENSES-NET] 32,626,511
[NET-INVESTMENT-INCOME] 29,466,263
[REALIZED-GAINS-CURRENT] 185,198,626
[APPREC-INCREASE-CURRENT] 88,812,497
[NET-CHANGE-FROM-OPS] 303,477,386
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 55,407
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 237,677
[NUMBER-OF-SHARES-REDEEMED] 11
[SHARES-REINVESTED] 2,183
[NET-CHANGE-IN-ASSETS] 427,268,827
[ACCUMULATED-NII-PRIOR] 2,451,865
[ACCUMULATED-GAINS-PRIOR] 33,267,800
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 12,056,197
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 32,626,511
[AVERAGE-NET-ASSETS] 3,339,179
[PER-SHARE-NAV-BEGIN] 23.06
[PER-SHARE-NII] 00.01
[PER-SHARE-GAIN-APPREC] 00.42
[PER-SHARE-DIVIDEND] 00.00
[PER-SHARE-DISTRIBUTIONS] 00.37
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 23.12
[EXPENSE-RATIO] 01.97
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000764624
[NAME] SMITH BARNEY INCOME FUNDS
[SERIES]
[NUMBER] 1
[NAME] SMITH BARNEY PREMIUM TOTAL RETURN FUND. CLASS O
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 3,449,648,469
[INVESTMENTS-AT-VALUE] 4,782,235,979
[RECEIVABLES] 24,462,940
[ASSETS-OTHER] 745
[OTHER-ITEMS-ASSETS] 511,704,634
[TOTAL-ASSETS] 5,318,404,298
[PAYABLE-FOR-SECURITIES] 33,106,398
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 710,283,641
[TOTAL-LIABILITIES] 743,390,039
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 3,156,822,667
[SHARES-COMMON-STOCK] 5,470,061
[SHARES-COMMON-PRIOR] 4,223,155
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 26,479,912
[ACCUMULATED-NET-GAINS] 145,264,920
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 1,299,406,584
[NET-ASSETS] 4,575,014,259
[DIVIDEND-INCOME] 43,708,840
[INTEREST-INCOME] 18,383,934
[OTHER-INCOME] 0
[EXPENSES-NET] 32,626,511
[NET-INVESTMENT-INCOME] 29,466,263
[REALIZED-GAINS-CURRENT] 185,198,626
[APPREC-INCREASE-CURRENT] 88,812,497
[NET-CHANGE-FROM-OPS] 303,477,386
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,425,929
[DISTRIBUTIONS-OF-GAINS] 2,024,633
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,624,138
[NUMBER-OF-SHARES-REDEEMED] 505,955
[SHARES-REINVESTED] 128,723
[NET-CHANGE-IN-ASSETS] 427,268,827
[ACCUMULATED-NII-PRIOR] 2,451,865
[ACCUMULATED-GAINS-PRIOR] 33,267,800
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 12,056,197
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 32,626,511
[AVERAGE-NET-ASSETS] 113,953,402
[PER-SHARE-NAV-BEGIN] 22.18
[PER-SHARE-NII] 00.18
[PER-SHARE-GAIN-APPREC] 01.38
[PER-SHARE-DIVIDEND] 00.30
[PER-SHARE-DISTRIBUTIONS] 00.37
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 23.07
[EXPENSE-RATIO] 01.57
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000764624
[NAME] SMITH BARNEY INCOME FUNDS
[SERIES]
[NUMBER] 1
[NAME] SMITH BARNEY PREMIUM TOTAL RETURN FUND. CLASS Y
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1998
[PERIOD-END] JUN-30-1998
[INVESTMENTS-AT-COST] 3,449,648,469
[INVESTMENTS-AT-VALUE] 4,782,235,979
[RECEIVABLES] 24,462,940
[ASSETS-OTHER] 745
[OTHER-ITEMS-ASSETS] 511,704,634
[TOTAL-ASSETS] 5,318,404,298
[PAYABLE-FOR-SECURITIES] 33,106,398
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 710,283,641
[TOTAL-LIABILITIES] 743,390,039
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 3,156,822,667
[SHARES-COMMON-STOCK] 2,711,424
[SHARES-COMMON-PRIOR] 2,287,922
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 26,479,912
[ACCUMULATED-NET-GAINS] 145,264,920
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 1,299,406,584
[NET-ASSETS] 4,575,014,259
[DIVIDEND-INCOME] 43,708,840
[INTEREST-INCOME] 18,383,934
[OTHER-INCOME] 0
[EXPENSES-NET] 32,626,511
[NET-INVESTMENT-INCOME] 29,466,263
[REALIZED-GAINS-CURRENT] 185,198,626
[APPREC-INCREASE-CURRENT] 88,812,497
[NET-CHANGE-FROM-OPS] 303,477,386
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 823,465
[DISTRIBUTIONS-OF-GAINS] 997,750
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 423,498
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 4
[NET-CHANGE-IN-ASSETS] 427,268,827
[ACCUMULATED-NII-PRIOR] 2,451,865
[ACCUMULATED-GAINS-PRIOR] 33,267,800
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 12,056,197
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 32,626,511
[AVERAGE-NET-ASSETS] 57,183,540
[PER-SHARE-NAV-BEGIN] 22.24
[PER-SHARE-NII] 00.24
[PER-SHARE-GAIN-APPREC] 01.42
[PER-SHARE-DIVIDEND] 00.34
[PER-SHARE-DISTRIBUTIONS] 00.37
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 23.19
[EXPENSE-RATIO] 00.76
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
SMITH BARNEY INCOME FUND
SMITH BARNEY PREMIUM TOTAL RETURN FUND
January 1, 1998 through June 30, 1998
Trade % of
Issuer Date Selling Dealer Amount
Price Issue
Capital Automotive 2/17/98 Freidman, Billings, 465,000
$15.00 2.52%
REIT Ramsey & Co.
Union Pacific 3/28/98 CS First Boston 200,000
50.00 0.11
Conv. Preferred
General Growth Properties 6/5/98 Lehman Brothers 350,000
25.00 0.09
7.25% Conv. Preferred
Capstar Broadcasting Corp. 5/26/98 CS First Boston 379,300
19.00 1.22
