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SMITH BARNEY ADJUSTABLE RATE GOVERNMENT INCOME FUND Supplement dated March 3, 1997 to the Prospectus dated September 30, 1996 The following information supplements, and to the extent inconsistent therewith, supersedes, the information in the Prospectus under: Class Y Shares. Effective immediately Class Y Shares are no longer available for purchase. FD 01275 3/97 G:\FUNDS\ARMS\1997\SECDOCS\YSTICKER.DOC
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