WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000089558
<NAME> Smith Barney Appreciation Fund Inc.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Dec-31-2000
<PERIOD-END> Jun-30-2000
<INVESTMENTS-AT-COST> 3,762,475,200
<INVESTMENTS-AT-VALUE> 5,294,574,000
<RECEIVABLES> 6,418,800
<ASSETS-OTHER> 298,083,305
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5,599,076,105
<PAYABLE-FOR-SECURITIES> 9,097,027
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 303,080,991
<TOTAL-LIABILITIES> 312,178,018
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,522,064,788
<SHARES-COMMON-STOCK> 5,866,502
<SHARES-COMMON-PRIOR> 6,304,262
<ACCUMULATED-NII-CURRENT> 21,254,835
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 211,479,664
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,532,098,800
<NET-ASSETS> 5,286,898,087
<DIVIDEND-INCOME> 28,094,743
<INTEREST-INCOME> 23,001,308
<OTHER-INCOME> 0
<EXPENSES-NET> 30,516,322
<NET-INVESTMENT-INCOME> 20,579,729
<REALIZED-GAINS-CURRENT> 217,218,683
<APPREC-INCREASE-CURRENT> (228,304,481)
<NET-CHANGE-FROM-OPS> 9,493,931
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 3,454,940
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 137,531
<NUMBER-OF-SHARES-REDEEMED> 575,291
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (322,098,266)
<ACCUMULATED-NII-PRIOR> 675,106
<ACCUMULATED-GAINS-PRIOR> 188,320,115
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 14,961,574
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 30,516,322
<AVERAGE-NET-ASSETS> 95,938,277
<PER-SHARE-NAV-BEGIN> 15.690
<PER-SHARE-NII> 0.100
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.580
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 15.220
<EXPENSE-RATIO> 0.58
</TABLE>