TRAVELERS SERIES FUND INC.
on behalf of the
Alliance Growth Portfolio
Supplement dated November 13, 1997
to the Prospectus dated February 28, 1997
The following information supplements the information set
forth in the Prospectus under "Special Investment Techniques and
Risk Considerations."
Real Estate Investment Trusts
The Alliance Growth Portfolio may invest in real estate
investment trusts ("REITs"). REITs are entities which
either own properties or make construction or mortgage
loans. Equity trusts own real estate directly and the value
of, and income earned by, the trust depends upon the income
of the underlying properties and the rental income they
earn. Equity trusts may also include operating or finance
companies. Equity trusts can also realize capital gains by
selling properties that have appreciated in value. A
mortgage trust can make construction, development or long-
term mortgage loans, and are sensitive to the credit quality
of the borrower. Mortgage trusts derive their income from
interest payments. Hybrid trusts combine the
characteristics of both equity and mortgage trusts,
generally by holding both ownership interests and mortgage
interests in real estate. The value of securities issued by
REITs are affected by tax and regulatory requirements and by
perceptions of management skill. They are also subject to
heavy cash flow dependency, defaults by borrowers or
tenants, self-liquidation, the possibility of failing to
qualify for tax-free status under the Internal Revenue Code
of 1986, as amended, and failing to maintain exemption from
the Investment Company Act of 1940, as amended.
FD 01347
