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002 A000000 388 GREENWICH STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10013
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008 A000001 SMITH BARNEY
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008 D020001 NY
008 D030001 10013
010 A000001 SMITH BARNEY
010 B000001 801-14437
010 C010001 NEW YORK
010 C020001 NY
010 C030001 10013
013 A000001 KPMG PEAT MARWICK
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10154
015 A000001 PNC BANK
015 B000001 C
015 C010001 PHILADELPHIA
015 C020001 PA
<PAGE> PAGE 2
015 C030001 19103
015 E010001 X
018 000000 Y
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021 000000 0
022 A000001 SEATTLE-NOTTHWEST SECURITIES CORP.
022 B000001 N/A
022 C000001 1880
022 D000001 0
022 A000002 CITICORP INVESTMENT SERVICES
022 B000002 N/A
022 C000002 1063
022 D000002 400
022 A000003 A.G. EDWARDS & SONS, INC.
022 B000003 N/A
022 C000003 0
022 D000003 982
022 A000004 GOLDMAN SACHS & CO.
022 B000004 13-5108880
022 C000004 964
022 D000004 0
022 A000005 RAYMOND JAMES & ASSOCIATES, INC.
022 B000005 N/A
022 C000005 0
022 D000005 487
022 A000006 BEAR STEARNS & CO. INC.
022 B000006 13-3299429
022 C000006 478
022 D000006 0
022 A000007 PRAGER, MCGARTHY & SEALY
022 B000007 N/A
022 C000007 282
022 D000007 0
022 A000008 A.F. BEST SECURITIES, INC.
022 B000008 N/A
022 C000008 0
022 D000008 99
022 A000009 DILLION, READ & CO. INC.
022 B000009 13-1939216
022 C000009 96
022 D000009 0
<PAGE> PAGE 3
022 C000010 0
022 D000010 0
023 C000000 4763
023 D000000 1968
024 000000 N
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028 A010000 408
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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SIGNATURE THOMAS M. REYNOLDS
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000920058
[NAME] SMITH BARNEY OREGON MUNICIPALS FUND, CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] APR-30-1998
[PERIOD-END] OCT-31-1997
[INVESTMENTS-AT-COST] 26,169,182
[INVESTMENTS-AT-VALUE] 27,725,289
[RECEIVABLES] 594,700
[ASSETS-OTHER] 9,469
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 28,329,458
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 259,976
[TOTAL-LIABILITIES] 259,976
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 26,510,244
[SHARES-COMMON-STOCK] 1,050,228
[SHARES-COMMON-PRIOR] 951,505
[ACCUMULATED-NII-CURRENT] 14,944
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 18,075
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 1,556,107
[NET-ASSETS] 28,069,482
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 756,826
[OTHER-INCOME] 0
[EXPENSES-NET] 149,660
[NET-INVESTMENT-INCOME] 607,166
[REALIZED-GAINS-CURRENT] 18,075
[APPREC-INCREASE-CURRENT] 1,080,339
[NET-CHANGE-FROM-OPS] 1,705,580
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 263,071
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,345,830
[NUMBER-OF-SHARES-REDEEMED] 439,980
[SHARES-REINVESTED] 139,279
[NET-CHANGE-IN-ASSETS] 4,203,448
[ACCUMULATED-NII-PRIOR] 7,432
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 65,750
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 196,636
[AVERAGE-NET-ASSETS] 10,587,059
[PER-SHARE-NAV-BEGIN] 10.27
[PER-SHARE-NII] 00.26
[PER-SHARE-GAIN-APPREC] 00.45
[PER-SHARE-DIVIDEND] 00.26
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 10.72
[EXPENSE-RATIO] 00.82
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000920058
[NAME] SMITH BARNEY OREGON MUNICIPALS FUND, CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] APR-30-1998
[PERIOD-END] OCT-31-1997
[INVESTMENTS-AT-COST] 26,169,182
[INVESTMENTS-AT-VALUE] 27,725,289
[RECEIVABLES] 594,700
[ASSETS-OTHER] 9,469
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 28,329,458
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 259,976
[TOTAL-LIABILITIES] 259,976
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 26,510,244
[SHARES-COMMON-STOCK] 1,434,084
[SHARES-COMMON-PRIOR] 1,285,364
[ACCUMULATED-NII-CURRENT] 14,944
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 18,075
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 1,556,107
[NET-ASSETS] 28,069,482
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 756,826
[OTHER-INCOME] 0
[EXPENSES-NET] 149,660
[NET-INVESTMENT-INCOME] 607,166
[REALIZED-GAINS-CURRENT] 18,075
[APPREC-INCREASE-CURRENT] 1,080,339
[NET-CHANGE-FROM-OPS] 1,705,580
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 323,216
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,955,217
[NUMBER-OF-SHARES-REDEEMED] 570,639
[SHARES-REINVESTED] 182,379
[NET-CHANGE-IN-ASSETS] 4,203,448
[ACCUMULATED-NII-PRIOR] 7,432
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 65,750
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 196,636
[AVERAGE-NET-ASSETS] 14,459,384
[PER-SHARE-NAV-BEGIN] 10.26
[PER-SHARE-NII] 00.23
[PER-SHARE-GAIN-APPREC] 00.46
[PER-SHARE-DIVIDEND] 00.24
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 10.71
[EXPENSE-RATIO] 01.33
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000920058
[NAME] SMITH BARNEY OREGON MUNICIPALS FUND, CLASS C
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] APR-30-1998
[PERIOD-END] OCT-31-1997
[INVESTMENTS-AT-COST] 26,169,182
[INVESTMENTS-AT-VALUE] 27,725,289
[RECEIVABLES] 594,700
[ASSETS-OTHER] 9,469
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 28,329,458
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 259,976
[TOTAL-LIABILITIES] 259,976
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 26,510,244
[SHARES-COMMON-STOCK] 136,352
[SHARES-COMMON-PRIOR] 88,937
[ACCUMULATED-NII-CURRENT] 14,944
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 18,075
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 1,556,107
[NET-ASSETS] 28,069,482
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 756,826
[OTHER-INCOME] 0
[EXPENSES-NET] 149,660
[NET-INVESTMENT-INCOME] 607,166
[REALIZED-GAINS-CURRENT] 18,075
[APPREC-INCREASE-CURRENT] 1,080,339
[NET-CHANGE-FROM-OPS] 1,705,580
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 28,391
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 557,441
[NUMBER-OF-SHARES-REDEEMED] 74,983
[SHARES-REINVESTED] 18,002
[NET-CHANGE-IN-ASSETS] 4,203,448
[ACCUMULATED-NII-PRIOR] 7,432
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 65,750
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 196,636
[AVERAGE-NET-ASSETS] 1,253,355
[PER-SHARE-NAV-BEGIN] 10.27
[PER-SHARE-NII] 00.22
[PER-SHARE-GAIN-APPREC] 00.46
[PER-SHARE-DIVIDEND] 00.23
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 10.72
[EXPENSE-RATIO] 01.38
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
SMITH BARNEY OREGON MUNICIPALS FUND
10f-3 REPORT
March 1, 1997 through August 31, 1997
% of
Trade Par
Purchase Fund % of
Issuer Date Selling Dealer Amount Price
Assets Issue
Puerto Rico G.O. 3/31/97 Lehman Brothers
$700,000 $93.725 2.74% 0.71%
5.375% due 7/1/2025
Oregon Dept. of Admin. 4/17/97 Bear Stearns 500,000
97.995 2.01 1.29
5.80% due 5/1/2024
Puerto Rico Elec. Power Auth. 5/9/97 Bear Stearns 500,000
95.616 1.89 0.35
5.68% due 7/1/2027
Puerto Rico Pub. Bldgs. 6/13/97 Morgan Stanley 500,000
92.691 1.76 1.70
