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<PAGE> SALOMON BROTHERS INSTITUTIONAL INVESTMENT SERIES 7 World Trade Center New York, New York 10048 (888) 777-0 1 02 Supplement dated September 1, 1998 to Prospectus dated May 1, 1998 The following information amends, and to the extent inconsistent therewith, supersedes information contained in the Prospectus: Effective September 1, 1998, CFBDS, Inc., a registered broker-dealer and an indirect wholly-owned subsidiary of Signature Financial Group, Inc., serves as each Fund's distributor.
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