CONSULTING GROUP CAPITAL MARKETS FUNDS
Supplement dated January 17, 1996 to the Prospectus dated January 1, 1996
On January 16, 1996 the Board of Trustees approved the termination of Wolf,
Webb, Burk & Campbell ("Wolf, Webb") as investment adviser with respect to
Long-Term Bond Investments (the "Portfolio"). Pursuant to the agreement
with Wolf, Webb, the Consulting Services Division of Smith Barney Mutual
Funds Management Inc. (the "Manager") has notified Wolf, Webb that its
services will be terminated effective March 15, 1996. The Trustees have
approved a new investment advisory agreement for the Portfolio with National
Asset Management Corporation ("National Asset Management"). The terms of
the agreement with National Asset Management are substantially similar to
the terminated agreement with Wolf,Webb. National Asset Management was
founded in 1979 and currently manages approximately $5.2 billion in assets.
Shareholders will soon receive detailed information concerning National
Asset Management.
TRAK STICKER 1/24/96 2:28 PM
