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012 B000001 84-0000000
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<PAGE> PAGE 2
012 C020001 MA
012 C030001 02104
013 A000001 KPMG PEAT MARWICK LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10154
015 A000001 PNC BANK
015 B000001 C
015 C010001 PHILADELPHIA
015 C020001 PA
015 C030001 19103
015 E010001 X
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022 C000002 5935
022 D000002 1071
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022 B000003 N/A
022 C000003 3000
022 D000003 3300
022 A000004 PEACOCK, HISLOP, STALEY & GIVEN, INC.
022 B000004 N/A
022 C000004 5763
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022 B000005 N/A
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<PAGE> PAGE 3
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022 D000008 804
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022 B000009 22-2347336
022 C000009 1970
022 D000009 100
022 A000010 BANC ONE
022 B000010 N/A
022 C000010 1000
022 D000010 1118
023 C000000 37121
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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SIGNATURE THOMAS M. REYNOLDS
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000811706
[NAME] SMITH BARNEY ARIZONA MUNICIPALS FUND INC. CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] MAY-31-1998
[PERIOD-END] MAY-31-1998
[INVESTMENTS-AT-COST] 64,866,247
[INVESTMENTS-AT-VALUE] 68,356,075
[RECEIVABLES] 1,853,901
[ASSETS-OTHER] 83,423
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 70,293,399
[PAYABLE-FOR-SECURITIES] 3,311,196
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 203,478
[TOTAL-LIABILITIES] 3,514,674
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 62,918,072
[SHARES-COMMON-STOCK] 4,381,270
[SHARES-COMMON-PRIOR] 3,652,071
[ACCUMULATED-NII-CURRENT] (67,159)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 437,984
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 3,489,828
[NET-ASSETS] 66,778,725
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 3,547,190
[OTHER-INCOME] 0
[EXPENSES-NET] 638,508
[NET-INVESTMENT-INCOME] 2,908,682
[REALIZED-GAINS-CURRENT] 752,174
[APPREC-INCREASE-CURRENT] 1,497,511
[NET-CHANGE-FROM-OPS] 5,158,367
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 2,087,074
[DISTRIBUTIONS-OF-GAINS] 178,378
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 989,126
[NUMBER-OF-SHARES-REDEEMED] 384,350
[SHARES-REINVESTED] 124,423
[NET-CHANGE-IN-ASSETS] 8,766,342
[ACCUMULATED-NII-PRIOR] 46,255
[ACCUMULATED-GAINS-PRIOR] (46,058)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 309,633
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 638,508
[AVERAGE-NET-ASSETS] 41,520,221
[PER-SHARE-NAV-BEGIN] 10.21
[PER-SHARE-NII] 00.50
[PER-SHARE-GAIN-APPREC] 00.40
[PER-SHARE-DIVIDEND] 00.52
[PER-SHARE-DISTRIBUTIONS] 00.05
[RETURNS-OF-CAPITAL] 00.00
[PER-SHARE-NAV-END] 11.68
[EXPENSE-RATIO] 00.85
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000811706
[NAME] SMITH BARNEY ARIZONA MUNICIPALS FUND INC. CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] MAY-31-1998
[PERIOD-END] MAY-31-1998
[INVESTMENTS-AT-COST] 64,866,247
[INVESTMENTS-AT-VALUE] 68,356,075
[RECEIVABLES] 1,853,901
[ASSETS-OTHER] 83,423
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 70,293,399
[PAYABLE-FOR-SECURITIES] 3,311,196
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 203,478
[TOTAL-LIABILITIES] 3,514,674
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 62,918,072
[SHARES-COMMON-STOCK] 1,871,755
[SHARES-COMMON-PRIOR] 1,947,276
[ACCUMULATED-NII-CURRENT] (67,159)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 437,984
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 3,489,828
[NET-ASSETS] 66,778,725
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 3,547,190
[OTHER-INCOME] 0
[EXPENSES-NET] 638,508
[NET-INVESTMENT-INCOME] 2,908,682
[REALIZED-GAINS-CURRENT] 752,174
[APPREC-INCREASE-CURRENT] 1,497,511
[NET-CHANGE-FROM-OPS] 5,158,367
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 896,276
[DISTRIBUTIONS-OF-GAINS] 85,967
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 280,136
[NUMBER-OF-SHARES-REDEEMED] 408,288
[SHARES-REINVESTED] 52,631
[NET-CHANGE-IN-ASSETS] 8,766,342
[ACCUMULATED-NII-PRIOR] 46,255
[ACCUMULATED-GAINS-PRIOR] (46,058)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 309,633
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 638,508
[AVERAGE-NET-ASSETS] 19,920,055
[PER-SHARE-NAV-BEGIN] 10.21
[PER-SHARE-NII] 00.45
[PER-SHARE-GAIN-APPREC] 00.40
[PER-SHARE-DIVIDEND] 00.47
[PER-SHARE-DISTRIBUTIONS] 00.05
[RETURNS-OF-CAPITAL] 00.00
[PER-SHARE-NAV-END] 11.58
[EXPENSE-RATIO] 01.38
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000811706
[NAME] SMITH BARNEY ARIZONA MUNICIPALS FUND INC. CLASS C
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] MAY-31-1998
[PERIOD-END] MAY-31-1998
[INVESTMENTS-AT-COST] 64,866,247
[INVESTMENTS-AT-VALUE] 68,356,075
[RECEIVABLES] 1,853,901
[ASSETS-OTHER] 83,423
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 70,293,399
[PAYABLE-FOR-SECURITIES] 3,311,196
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 203,478
[TOTAL-LIABILITIES] 3,514,674
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 62,918,072
[SHARES-COMMON-STOCK] 83,099
[SHARES-COMMON-PRIOR] 80,627
[ACCUMULATED-NII-CURRENT] (67,159)
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 437,984
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 3,489,828
[NET-ASSETS] 66,778,725
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 3,547,190
[OTHER-INCOME] 0
[EXPENSES-NET] 638,508
[NET-INVESTMENT-INCOME] 2,908,682
[REALIZED-GAINS-CURRENT] 752,174
[APPREC-INCREASE-CURRENT] 1,497,511
[NET-CHANGE-FROM-OPS] 5,158,367
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 38,745
[DISTRIBUTIONS-OF-GAINS] 3,792
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 16,759
[NUMBER-OF-SHARES-REDEEMED] 17,801
[SHARES-REINVESTED] 3,514
[NET-CHANGE-IN-ASSETS] 8,766,342
[ACCUMULATED-NII-PRIOR] 46,255
[ACCUMULATED-GAINS-PRIOR] (46,058)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 309,633
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 638,508
[AVERAGE-NET-ASSETS] 874,509
[PER-SHARE-NAV-BEGIN] 10.21
[PER-SHARE-NII] 00.45
[PER-SHARE-GAIN-APPREC] 00.39
[PER-SHARE-DIVIDEND] 00.47
[PER-SHARE-DISTRIBUTIONS] 00.05
[RETURNS-OF-CAPITAL] 00.00
[PER-SHARE-NAV-END] 11.57
[EXPENSE-RATIO] 01.42
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
10f-3 REPORT
SMITH BARNEY ARIZONA MUNICIPALS FUND
December 1, 1997 through May 31, 1998
Trade Purchase % of
Issuer Date Selling Dealer Amount
Price Issue(1)
Puerto Rico G.O. 1/15/98 Morgan Stanley $5,000,000
$36.839 4.90%
0.000% due 7/1/2018
Puerto Rico Highway 2/26/98 Merrill Lynch 4.485,469
38.220 3.15
0.000% due 7/1/2017
