SMITH BARNEY INVESTMENT TRUST
ON BEHALF OF
LARGE CAPITALIZATION GROWTH FUND
CLASS Z SHARES
(the "Fund")
Supplement dated July 20, 1999 to
Prospectus dated March 30, 1999
The following revises and supersedes, as applicable, the discussion under
"Performance":
Risk return bar chart
The bar chart below shows changes in the fund's performance from year to
year. Past performance does not necessarily indicate how the fund will
perform in the future.
Total Return for Class A Shares
[BAR CHART APPEARS HERE]
1998 54.72%
This bar chart shows the performance of the fund's Class A shares since
inception. Class Z shares would have different performance because of its
different expenses.
Quarterly returns:
Highest: 37.85% in 4th quarter 1998; Lowest: 2.54% in 4th quarter 1997
Risk return table
This table compares the average annual total return of each class for the
periods shown with that of the S&P 500 Composite Index, a broad-based
unmanaged market capitalization-weighted measure of 500 widely held common
stocks. This table assumes the imposition of the maximum sales charge
applicable to the class, the redemption of shares at the end of the
period, and the reinvestment of distributions and dividends.
Average Annual Total Returns
Calendar Years Ended December 31, 1998
<TABLE>
<CAPTION>
Class Inception Date 1 year Since Inception
<S> <C> <C> <C>
A 8/29/97 46.96% 38.68%
S&P 500 * 28.60 28.38
*Index comparison begins on August 31, 1997
</TABLE>
FD 0
