SMITH BARNEY SHEARSON
CALIFORNIA MUNICIPAL MONEY MARKET FUND
SUPPLEMENT TO PROSPECTUS
dated December 30, 1993
On May 25, 1994, the Board of Trustees of Smith Barney Shearson
California Municipal Money Market Fund (the "Fund") approved a proposed
reorganization pursuant to which the assets of the Fund would be acquired by
California Money Market Portfolio ("California Portfolio"), a series of Smith
Barney Muni Funds, through an exchange of shares of California Portfolio and
the assumption by California 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 California Portfolio, receiving shares of
California 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 June, 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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