GREENWICH STREET SERIES FUND
on behalf of the
DIVERSIFIED STRATEGIC INCOME PORTFOLIO
The following information supplements, and to the extent
inconsistent therewith, supersedes, the information set forth in
the Prospectus under "Certain Investment Strategies and
Guidelines."
The Portfolio may invest
up to 15% of its total assets in securities with
contractual or other restrictions on resale and other
instruments that are not readily marketable, including
(a) repurchase agreements with maturities greater than
seven days, (b) futures contracts and related options
for which a liquid secondary market does not exist and
(c) time deposits maturing in more than seven calendar
days. The above restriction does not apply to
securities subject to Rule 144A of the Securities Act
of 1933, as amended. ("Rule 144A Securities").
Rule 144A Securities are unregistered securities
restricted to purchase by "qualified institutional
buyers" pursuant to Rule 144A under Securities Act of
1933. Because Rule 144A Securities are freely
transferable among qualified institutional buyers, a
liquid market may exist among such buyers. The Board
of Trustees has adopted guidelines and delegated to
management the daily function of determining and
monitoring the liquidity of Rule 144A Securities.
However, the Board of Trustees maintains sufficient
oversight and is ultimately responsible for the
liquidity determinations. Investments in restricted
securities such as Rule 144A Securities could have the
effect of increasing the level of illiquidity in the
Portfolio to the extent that there is temporarily no
market for these securities among qualified
institutional buyers.
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FD 01342
