SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* BAIN PETER L (Last) (First) (Middle) LEGG MASON INC 100 LIGHT ST (Street) BALTIMORE MD 21202 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 08/01/2006	3. Issuer Name and Ticker or Trading Symbol Salomon Brothers Variable Rate Strategic Fund Inc. [ GFY ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Manager	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* BAIN PETER L (Last) (First) (Middle) LEGG MASON INC 100 LIGHT ST (Street) BALTIMORE MD 21202 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner X Officer (give title below) Other (specify below) Manager

1. Name and Address of Reporting Person* FETTING MARK R (Last) (First) (Middle) C/O ROYCE & ASSOCIATES, LLC 1414 AVENUE OF THE AMERICAS (Street) NEW YORK NY 10019 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner X Officer (give title below) Other (specify below) Manager

1. Name and Address of Reporting Person* SCHEVE TIMOTHY C (Last) (First) (Middle) LEGG MASON INC 100 LIGHT ST (Street) BALTIMORE MD 21202 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner X Officer (give title below) Other (specify below) Manager

1. Name and Address of Reporting Person* MANDIA THOMAS C (Last) (First) (Middle) 300 FIRST STAMFORD PLACE CITIGROUP ASSET MANAGEMENT (Street) STAMFORD CT 06902 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner X Officer (give title below) Other (specify below) Secretary

1. Name and Address of Reporting Person* GERKEN R JAY (Last) (First) (Middle) 399 PARK AVENUE 4TH FL (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner X Officer (give title below) Other (specify below) President and CEO

1. Name and Address of Reporting Person* SHEPLER ROBERT P (Last) (First) (Middle) 300 FIRST STAMFORD CICIGROUP ASSET MANAGEMENT (Street) STAMFORD CT 06902 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner X Officer (give title below) Other (specify below) Senior Vice President

1. Name and Address of Reporting Person* Kelly Jeanne (Last) (First) (Middle) 300 FIRST STAMFORD PLACE 4TH FLOOR (Street) STAMFORD CT 06902 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner X Officer (give title below) Other (specify below) Senior Vice President

1. Name and Address of Reporting Person* Becker Ted P (Last) (First) (Middle) 399 PARK AVENUE 4TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner X Officer (give title below) Other (specify below) Chief Compliance Officer

Explanation of Responses:

No securities are beneficially owned.

	William J. Renahan by Power of Attorney for Peter Bain	08/02/2006
	William J. Renahan by Power of Attorney for Mark Fetting	08/02/2006
	William J. Renahan by Power of Attorney for Timothy Scheve	08/02/2006
	William J. Renahan by Power of Attorney for Thomas Mandia	08/02/2006
	William J. Renahan by Power of Attorney for R. Jay Gerken	08/02/2006
	William J. Renahan by Power of Attorney for Robert Shepler	08/02/2006
	William J. Renahan by Power of Attorney for Jeanne Kelly	08/02/2006
	William J. Renahan by Power of Attorney for Ted Becker	08/02/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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