SMITH BARNEY SHEARSON
NEW YORK MUNICIPAL MONEY MARKET FUND
SUPPLEMENT TO PROSPECTUS
dated December 30, 1993
On May 25, 1994, the Board of Trustees of Smith Barney Shearson New York
Municipal Money Market Fund (the "Fund") approved a proposed reorganization
pursuant to which the assets of the Fund would be acquired by New York Money
Market Portfolio ("New York Portfolio"), a series of Smith Barney Muni Funds,
through an exchange of shares of New York Portfolio and the assumption by New
York Portfolio of substantially all of the Fund's liabilities. These shares
would then be distributed to shareholders of the Fund in liquidation of the
Fund.
Under the terms of the proposed reorganization, each shareholder of the
Fund would become a shareholder of New York Portfolio, receiving shares of New
York Portfolio with a value equal to the value of the shareholder's investment
in the Fund in accordance with the terms of the plan of reorganization. No
sales charge would be imposed in the transaction, although a gain or loss for
Federal income tax purposes may be recognized by shareholders as a result of
the reorganization.
The proposed reorganization is subject to the fulfillment of certain
conditions, including the approval of shareholders of the Fund. Proxy
materials describing the proposed reorganization will be mailed to Fund
shareholders in anticipation of a meeting of shareholders expected to be held
in October, 1994. If approved by shareholders at that time, the transaction
will occur as soon after the meeting as practicable.
Dated: May 29, 1994
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