SHEARSON LEHMAN SELECT ADVISORS FUTURES FUND L P
10-K/A, 1999-04-01
REAL ESTATE INVESTMENT TRUSTS
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                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 10-K

                  Annual Report Pursuant to Section 13 or 15(d)

                     of the Securities Exchange Act of 1934

                   For the fiscal year ended December 31, 1998

Commission File Number 0-16627

                      SHEARSON SELECT ADVISORS FUTURES FUND
             (Exact name of registrant as specified in its charter)

            Delaware                                       13-3405705     
 State or other jurisdiction of                          (I.R.S.Employer
incorporation or organization)                          Identification No.)

                    c/o Smith Barney Futures Management Inc.
                           390 Greenwich St. - 1st Fl.
                           New York, New York 10013 
- ---------------------------------------------------------------------------
              (Address and Zip Code of principal executive offices)

                              (212) 723-5424                               
- ---------------------------------------------------------------------------
              (Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:  None
Securities registered pursuant to Section 12(g) of the Act:  Units
                                                             of Limited
                                                             Partnership
                                                             Interest
                                                             (Title of Class)

  Indicate  by check  mark  whether  the  registrant  (1) has filed all  reports
  required to be filed by Section 13 or 15(d) of the Securities  Exchange Act of
  1934  during the  preceding  12 months (or for such  shorter  period  that the
  registrant  was  required to file such  reports),  and (2) has been subject to
  such filing requirements for the past 90 days.


                                    Yes X No

Indicate by check mark if disclosure of delinquent filers pursuant toItem 405 of
Regulation S-K is not contained herein,  and will not be contained,  to the best
of  registrant's  knowledge,  in  definitive  proxy  or  information  statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
form 10-K [X]

As of  February  28,  1999  Limited  Partnership  Units  with an aggregate value
of  $5,249,881  were  outstanding  and held by non-affiliates.


                       DOCUMENTS INCORPORATED BY REFERENCE
                                      NONE


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