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<PAGE> PAGE 8
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SIGNATURE THOMAS M. REYNOLDS
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000887428
[NAME] SMITH BARNEY ADJUSTABLE RATE GOVERNMENT INCOME FUND, CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] MAY-31-1997
[PERIOD-END] MAY-31-1997
[INVESTMENTS-AT-COST] 182,532,180
[INVESTMENTS-AT-VALUE] 184,557,064
[RECEIVABLES] 2,893,712
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 187,450,776
[PAYABLE-FOR-SECURITIES] 9,546,027
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 48,244,399
[TOTAL-LIABILITIES] 57,790,426
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 136,381,963
[SHARES-COMMON-STOCK] 12,578,205
[SHARES-COMMON-PRIOR] 15,818,410
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (46,196)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (6,653,936)
[ACCUM-APPREC-OR-DEPREC] (21,481)
[NET-ASSETS] 129,660,350
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 8,855,001
[OTHER-INCOME] 0
[EXPENSES-NET] 2,449,953
[NET-INVESTMENT-INCOME] 6,405,048
[REALIZED-GAINS-CURRENT] 709,108
[APPREC-INCREASE-CURRENT] 316,668
[NET-CHANGE-FROM-OPS] 7,430,824
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 6,413,053
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 775,640
[NUMBER-OF-SHARES-SOLD] 8,490,645
[NUMBER-OF-SHARES-REDEEMED] 12,402,672
[SHARES-REINVESTED] 671,821
[NET-CHANGE-IN-ASSETS] (31,707,505)
[ACCUMULATED-NII-PRIOR] 9,951,704
[ACCUMULATED-GAINS-PRIOR] 173,691
[OVERDISTRIB-NII-PRIOR] 79,911
[OVERDIST-NET-GAINS-PRIOR] (7,066,988)
[GROSS-ADVISORY-FEES] 579,582
[INTEREST-EXPENSE] 2,055,152
[GROSS-EXPENSE] 2,449,953
[AVERAGE-NET-ASSETS] 139,322,871
[PER-SHARE-NAV-BEGIN] 9.84
[PER-SHARE-NII] 0.43
[PER-SHARE-GAIN-APPREC] 0.08
[PER-SHARE-DIVIDEND] 0.46
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0.05
[PER-SHARE-NAV-END] 9.84
[EXPENSE-RATIO] 1.69
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000887428
[NAME] SMITH BARNEY ADJUSTABLE RATE GOVERNMENT INCOME FUND, CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] MAY-31-1997
[PERIOD-END] MAY-31-1997
[INVESTMENTS-AT-COST] 182,532,180
[INVESTMENTS-AT-VALUE] 184,557,064
[RECEIVABLES] 2,893,712
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 187,450,776
[PAYABLE-FOR-SECURITIES] 9,546,027
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 48,244,399
[TOTAL-LIABILITIES] 57,790,426
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 136,381,963
[SHARES-COMMON-STOCK] 346,689
[SHARES-COMMON-PRIOR] 580,590
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (46,196)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (6,653,936)
[ACCUM-APPREC-OR-DEPREC] (21,481)
[NET-ASSETS] 129,660,350
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 8,855,001
[OTHER-INCOME] 0
[EXPENSES-NET] 2,449,953
[NET-INVESTMENT-INCOME] 6,405,048
[REALIZED-GAINS-CURRENT] 709,108
[APPREC-INCREASE-CURRENT] 316,668
[NET-CHANGE-FROM-OPS] 7,430,824
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 242,336
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 28,993
[NUMBER-OF-SHARES-SOLD] 6,379,831
[NUMBER-OF-SHARES-REDEEMED] 6,632,928
[SHARES-REINVESTED] 19,196
[NET-CHANGE-IN-ASSETS] (31,707,505)
[ACCUMULATED-NII-PRIOR] 9,951,704
[ACCUMULATED-GAINS-PRIOR] 173,691
[OVERDISTRIB-NII-PRIOR] 79,911
[OVERDIST-NET-GAINS-PRIOR] (7,066,988)
[GROSS-ADVISORY-FEES] 579,582
[INTEREST-EXPENSE] 2,055,152
[GROSS-EXPENSE] 2,449,953
[AVERAGE-NET-ASSETS] 5,207,809
[PER-SHARE-NAV-BEGIN] 9.84
[PER-SHARE-NII] 0.39
[PER-SHARE-GAIN-APPREC] 0.10
[PER-SHARE-DIVIDEND] 0.46
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0.05
[PER-SHARE-NAV-END] 9.82
[EXPENSE-RATIO] 1.71
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000887428
[NAME] SMITH BARNEY ADJUSTABLE RATE GOVERNMENT INCOME FUND, CLASS C
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] MAY-31-1997
[PERIOD-END] MAY-31-1997
[INVESTMENTS-AT-COST] 182,532,180
[INVESTMENTS-AT-VALUE] 184,557,064
[RECEIVABLES] 2,893,712
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 187,450,776
[PAYABLE-FOR-SECURITIES] 9,546,027
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 48,244,399
[TOTAL-LIABILITIES] 57,790,426
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 136,381,963
[SHARES-COMMON-STOCK] 7,010
[SHARES-COMMON-PRIOR] 3,435
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (46,196)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (6,653,936)
[ACCUM-APPREC-OR-DEPREC] (21,481)
[NET-ASSETS] 129,660,350
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 8,855,001
[OTHER-INCOME] 0
[EXPENSES-NET] 2,449,953
[NET-INVESTMENT-INCOME] 6,405,048
[REALIZED-GAINS-CURRENT] 709,108
[APPREC-INCREASE-CURRENT] 316,668
[NET-CHANGE-FROM-OPS] 7,430,824
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,963
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 238
[NUMBER-OF-SHARES-SOLD] 4,602
[NUMBER-OF-SHARES-REDEEMED] 1,250
[SHARES-REINVESTED] 223
[NET-CHANGE-IN-ASSETS] (31,707,505)
[ACCUMULATED-NII-PRIOR] 9,951,704
[ACCUMULATED-GAINS-PRIOR] 173,691
[OVERDISTRIB-NII-PRIOR] 79,911
[OVERDIST-NET-GAINS-PRIOR] (7,066,988)
[GROSS-ADVISORY-FEES] 579,582
[INTEREST-EXPENSE] 2,055,152
[GROSS-EXPENSE] 2,449,953
[AVERAGE-NET-ASSETS] 42,834
[PER-SHARE-NAV-BEGIN] 9.82
[PER-SHARE-NII] 0.40
[PER-SHARE-GAIN-APPREC] 0.13
[PER-SHARE-DIVIDEND] 0.46
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0.05
[PER-SHARE-NAV-END] 9.84
[EXPENSE-RATIO] 1.65
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000887428
[NAME] SMITH BARNEY ADJUSTABLE RATE GOVERNMENT INCOME FUND, CLASS I
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] MAY-31-1997
[PERIOD-END] MAY-31-1997
[INVESTMENTS-AT-COST] 182,532,180
[INVESTMENTS-AT-VALUE] 184,557,064
[RECEIVABLES] 2,893,712
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 187,450,776
[PAYABLE-FOR-SECURITIES] 9,546,027
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 48,244,399
[TOTAL-LIABILITIES] 57,790,426
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 136,381,963
[SHARES-COMMON-STOCK] 245,215
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (46,196)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (6,653,936)
[ACCUM-APPREC-OR-DEPREC] (21,481)
[NET-ASSETS] 129,660,350
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 8,855,001
[OTHER-INCOME] 0
[EXPENSES-NET] 2,449,953
[NET-INVESTMENT-INCOME] 6,405,048
[REALIZED-GAINS-CURRENT] 709,108
[APPREC-INCREASE-CURRENT] 316,668
[NET-CHANGE-FROM-OPS] 7,430,824
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 10,037
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 260,643
[NUMBER-OF-SHARES-REDEEMED] 16,281
[SHARES-REINVESTED] 853
[NET-CHANGE-IN-ASSETS] (31,707,505)
[ACCUMULATED-NII-PRIOR] 9,951,704
[ACCUMULATED-GAINS-PRIOR] 173,691
[OVERDISTRIB-NII-PRIOR] 79,911
[OVERDIST-NET-GAINS-PRIOR] (7,066,988)
[GROSS-ADVISORY-FEES] 579,582
[INTEREST-EXPENSE] 2,055,152
[GROSS-EXPENSE] 2,449,953
[AVERAGE-NET-ASSETS] 1,991,014
[PER-SHARE-NAV-BEGIN] 9.79
[PER-SHARE-NII] 0.08
[PER-SHARE-GAIN-APPREC] 0.04
[PER-SHARE-DIVIDEND] 0.06
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 9.85
[EXPENSE-RATIO] 1.10
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
