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Strategic Stock Fund of
Travelers Series Trust
Supplement dated March 24, 1999
to
Prospectus dated May 1, 1998
The following information supplements and amends the information included for
the Strategic Stock Fund (the "Portfolio") in "Fund Description - Investment
Policies" in the prospectus:
As stated in the prospectus, the Portfolio's investment objective is
above-average total return through capital appreciation and dividend
income. Key investments for the Portfolio include the highest dividend-
yielding stocks from the Dow Jones Industrial Average ("DJIA") and a
sub-set of stocks of the S&P Industrial Index ("S&P").
The subadviser, Travelers Investment Company ("TIMCO"), uses the
following process to select the 25 stock that the Portfolio will hold.
First, TIMCO ranks the 30 DJIA stocks by dividend yield. Then it
selects the 10 highest dividend-yielding stocks. TIMCO then selects
another 15 stocks from those that make up the S&P as follows. TIMCO
removes any S&P stocks that are also in the DJIA and includes only
those stocks that are ranked A or A+ by Standard & Poors. TIMCO ranks
the remaining stocks by market capitalization from highest to lowest
and eliminates the lowest 25%. It then ranks the remaining stocks
according to dividend yield and selects the highest 15. Accordingly,
10 stocks from the DJIA and 15 stocks selected from the S&P comprise
the investment portfolio.
Periodically, TIMCO employs the same selection procedures to identify
a revised list of 25 portfolio securities. It then reviews and
rebalances the investment portfolio at least annually, although reviews
and adjustments may be made more frequently.