SMITH BARNEY NEW JERSEY MUNICIPALS FUND INC.
(the "Fund")
Supplement to Prospectus
dated May 29, 1995
The following table replaces the table found in the Fund's
Prospectus under "The Fund's Expenses:"
THE FUND'S EXPENSES The following expense table lists the
costs and expenses an investor will incur either directly or
indirectly as a shareholder of the Fund, based on the
maximum sales charge or maximum CDSC that may be incurred at
the time of purchase or redemption and, unless otherwise
noted, the Fund's operating expenses for its most recent
fiscal year:
<TABLE>
<C> <C> <C>
<C> <C>
Class A Class B Class C Class Y
Shareholder Transaction Expenses
Maximum sales charge imposed on purchases (as a percentage
of offering price) 4.00% None None None
Maximum CDSC (as a percentage of original cost or redemption
proceeds, whichever is lower) None* 4.50% 1.00%
None
Annual Fund Operating Fund Expenses(as a percentage of
average net assets)
Management fees 0.55% 0.55% 0.55% 0.55%
12b-1 fees** 0.15 0.65 0.70 None
Other expenses*** 0.18 0.19 0.19 0.18
TOTAL FUND OPERATING EXPENSES 0.88% 1.39% 1.44%
0.73%
<FN>
* Purchase of Class A shares, which when combined with
current holdings of Class A shares offered with a sales
charge, equal or exceed $500,000 in the aggregate, will be
made at net asset value with no sales charge, but will be
subject to a CDSC of 1.00% on redemptions made within 12
months.
** Upon conversion of Class B shares to Class A shares,
such shares will no longer be subject to a distribution fee.
Class C shares do not have a conversion feature and,
therefore, are subject to an ongoing distribution fee. As a
result, long-term shareholders of Class C shares may pay
more than the economic equivalent of the maximum front-end
sales charge permitted by the National Association of
Securities Dealers, Inc.
***For Class Y shares, "Other expenses" have been estimated
based on expenses incurred by Class A shares because no
Class Y shares had been purchased as of March 31, 1995.
</TABLE>
On July 19, 1995, the Board of Directors of the Fund
approved a reduction in the investment advisory fee paid by
the Fund to Smith Barney Mutual Funds Management Inc.
("SBMFM"). Accordingly, effective November 17, 1995, the
Fund's investment advisory fee will be decreased from 0.35%
to 0.30% of the average daily net assets of the Fund.
On June 12, 1995, SBMFM assumed responsibility for all
administrative functions for the Fund, including the
functions previously performed by The Boston Company
Advisors, Inc. ("Boston Advisors"). As of that date, Boston
Advisors ceased to serve as sub-administrator to the Fund.
Also, as of June 12, 1995, PNC Bank, National Association
("PNC") assumed responsibility as the custodian of the Fund.
As of that date, Boston Safe Deposit and Trust Company, an
affiliate of Boston Advisors, ceased to serve as the Fund's
custodian. PNC is located at 17th and Chestnut Streets,
Philadelphia, Pennslyvania.
Effective July 15, 1995, employees of members of the
National Association of Securities Dealers, Inc. may
purchase Class A shares of the Fund at net asset value.
__________________________________
Supplement dated September 1, 1995
FD 01017 9/95
