GREENWICH STREET SERIES FUND
on behalf of the
MONEY MARKET PORTFOLIO and the
INTERMEDIATE HIGH GRADE PORTFOLIO
Supplement dated June 19, 1997
to the Prospectus dated April 30, 1998
The following information supplements, and to the extent
inconsistent therewith, supersedes, the information set
forth in the Prospectus under "Certain Investment
Guidelines."
The Intermediate High Grade 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. In the case
of the Money Market Portfolio and the Intermediate High
Grade Portfolio 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 the 1933 Act.
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 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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FD01487 6/98
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