497 1 d497.txt SMITH BARNEY CLASS A, B & L SHARES The following information revises and supersedes, as applicable, the information contained in the "Exchanging Shares" section of the Prospectuses of the Funds listed below. Supplement dated March 1, 2002 to Prospectuses of the Funds indicated below: Exchanges of Class A, Class B and Class L shares are subject to minimum investment requirements (except for systematic investment plan exchanges), and all shares are subject to the other requirements of the fund into which exchanges are made. Your shares will not be subject to an initial sales charge at the time of the exchange. Your deferred sales charge (if any) will continue to be measured from the date of your original purchase of shares subject to a deferred sales charge. If the fund you exchange into has a higher deferred sales charge, you will be subject to that charge. If you exchange at any time into a fund with a lower charge, the sales charge will not be reduced. SMITH BARNEY INTERNATIONAL TRUST SMITH BARNEY INTERNATIONAL LARGE CAP FUND May 1, 2001 SMITH BARNEY TRUST II SMITH BARNEY DIVERSIFIED LARGE CAP GROWTH FUND February 28, 2002 SMITH BARNEY SMALL CAP GROWTH OPPORTUNITIES FUND February 28, 2002 SMITH BARNEY AGGRESSIVE GROWTH FUND INC. December 28, 2001 SMITH BARNEY APPRECIATION FUND INC. April 30, 2001 SMITH BARNEY ARIZONA MUNICIPALS FUND INC. September 28, 2001 SMITH BARNEY CALIFORNIA MUNICIPALS FUND INC. June 28, 2001 SMITH BARNEY ALLOCATION SERIES INC. May 31, 2001 BALANCED PORTFOLIO CONSERVATIVE PORTFOLIO GLOBAL PORTFOLIO GROWTH PORTFOLIO HIGH GROWTH PORTFOLIO INCOME PORTFOLIO
SMITH BARNEY EQUITY FUNDS May 31, 2001 SMITH BARNEY SOCIAL AWARENESS FUND SMITH BARNEY FUNDAMENTAL VALUE FUND INC. January 28, 2002 SMITH BARNEY FUNDS, INC. April 30, 2001 LARGE CAP VALUE FUND U.S. GOVERNMENT SECURITIES FUND SMITH BARNEY INCOME FUNDS SMITH BARNEY BALANCED FUND November 28, 2001 SMITH BARNEY CONVERTIBLE FUND November 28, 2001 SMITH BARNEY DIVERSIFIED STRATEGIC INCOME FUND November 28, 2001 SMITH BARNEY HIGH INCOME FUND November 28, 2001 SMITH BARNEY MUNICIPAL HIGH INCOME FUND November 28, 2001 SMITH BARNEY PREMIUM TOTAL RETURN FUND April 30, 2001 SMITH BARNEY TOTAL RETURN BOND FUND November 28, 2001 SMITH BARNEY INVESTMENT FUNDS INC. SMITH BARNEY GOVERNMENT SECURITIES FUND April 30, 2001 SMITH BARNEY GROUP SPECTRUM FUND January 28, 2002 SMITH BARNEY HANSBERGER GLOBAL VALUE FUND August 28, 2001 SMITH BARNEY INVESTMENT GRADE BOND FUND April 30, 2001 SMITH BARNEY PEACHTREE GROWTH FUND April 30, 2001 SMITH BARNEY PREMIER SELECTIONS ALL CAP GROWTH FUND August 28, 2001 SMITH BARNEY PREMIER SELECTIONS GLOBAL GROWTH FUND August 28, 2001 SMITH BARNEY PREMIER SELECTIONS LARGE CAP FUND August 28, 2001 SMITH BARNEY SMALL CAP VALUE FUND January 28, 2002 SMITH BARNEY SMALL CAP GROWTH January 28, 2002, FUND As revised March 1, 2002
SMITH BARNEY INVESTMENT SERIES SMITH BARNEY GROWTH AND INCOME FUND February 28, 2002 SMITH BARNEY INTERNATIONAL AGGRESSIVE GROWTH FUND February 28, 2002 SMITH BARNEY LARGE CAP CORE FUND February 28, 2002 SMITH BARNEY INVESTMENT TRUST SMITH BARNEY INTERMEDIATE MATURITY CALIFORNIA MUNICIPALS FUND March 30, 2001 SMITH BARNEY INTERMEDIATE MATURITY NEW YORK MUNICIPALS FUND March 30, 2001 SMITH BARNEY LARGE CAPITALIZATION GROWTH FUND March 30, 2001 SMITH BARNEY MID CAP CORE FUND March 30, 2001 SMITH BARNEY MANAGED GOVERNMENTS FUND INC. November 28, 2001 SMITH BARNEY MANAGED MUNICIPALS FUND INC. June 28, 2001 SMITH BARNEY MASSACHUSETTS MUNICIPALS FUND March 30, 2001 SMITH BARNEY MUNI FUNDS FLORIDA PORTFOLIO July 30, 2001 GEORGIA PORTFOLIO July 30, 2001 LIMITED TERM PORTFOLIO December 19, 2001 NATIONAL PORTFOLIO July 30, 2001 NEW YORK PORTFOLIO July 30, 2001 PENNSYLVANIA PORTFOLIO SMITH BARNEY NEW JERSEY MUNICIPALS FUND, INC. July 30, 2001 SMITH BARNEY OREGON MUNICIPALS FUND August 28, 2001
SMITH BARNEY SECTOR SERIES INC. SMITH BARNEY FINANCIAL SERVICES FUND February 28, 2002 SMITH BARNEY BIOTECHNOLOGY FUND February 28, 2002 SMITH BARNEY GLOBAL MEDIA AND TELECOMMUNICATIONS FUND February 28, 2002 SMITH BARNEY TECHNOLOGY FUND February 28, 2002 SMITH BARNEY HEALTH SCIENCES FUND February 28, 2002 SMITH BARNEY SMALL CAP CORE FUND, INC. April 30, 2001 SMITH BARNEY WORLD FUNDS, INC. February 28, 2002 EUROPEAN PORTFOLIO GLOBAL GOVERNMENT BOND PORTFOLIO INTERNATIONAL ALL CAP GROWTH PORTFOLIO
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