Smith Barney Shearson Global Opportunities Fund
(the "Fund")
Supplement to Prospectus
Dated June 29, 1993
On January 20, 1994, the Board of Trustees of the Fund terminated the
investment advisory agreement with Lehman Brothers Global Asset Management
Limited. In addition, the Board proposed that the Fund enter into a new
investment advisory agreement with Smith, Barney Advisers, Inc. ("SBA"), which
contains substantially the same terms, conditions and fees as the Fund's
previous agreement. Pending shareholder approval, the new advisory agreement
would become effective on March 22, 1994. The Board of Trustees has called a
shareholder meeting for the purpose of considering the new agreement.
SBA is located at 1345 Avenue of the Americas, New York, New York 10105
and has been in the investment counseling business since 1968. SBA is a
wholly owned subsidiary of Smith Barney Shearson Holdings Inc. ("Holdings").
Holdings is a wholly owned subsidiary of The Travelers Inc. ("Travelers"), a
financial services holding company engaged through its subsidiaries
principally in the businesses of consumer financial services, investment
services and insurance services.
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January 21, 1994
