Girard Gibbs & De Bartolomeo LLP Announces Class Action Lawsuit Against Salomon Smith Barney Mutual Funds

Business Wire, July 8, 2004

SAN FRANCISCO -- The law firm of Girard Gibbs & De Bartolomeo LLP filed a class action and derivative lawsuit on July 7, 2004, on behalf of clients of Salomon Smith Barney, Inc. ("SSB") who purchased or held shares of the Salomon Brothers or Smith Barney family of mutual funds (the "Funds"), operated by Citigroup (NYSE: C), between March 22, 1999 and March 22, 2004, inclusive (the "Class Period"). The lawsuit asserts claims under the Securities Act of 1933, Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940 and the common law. Following is a list of the Funds subject to the litigation:

Salomon Brothers All Cap Value Fund (Sym: SUBAX, SUBBX, SUBZX)

Salomon Brothers Balanced Fund (Sym: STRAX, STRBX, STRCX)

Salomon Brothers California Tax Free Bond Fund (Sym: CCAIX, SCUBX, SCULX)

Salomon Brothers Capital Fund (Sym: SCCAX, SPABX, SACPX, SCCCX)

Salomon Brothers High Yield Bond (Sym: SAHYX, SBHYX, SHYOX, SHYCX)

Salomon Brothers International Equity Fund (Sym: SAIEX, SAIBX, SAICX)

Salomon Brothers Investors Value Fund (Sym: SINAX, SBINX, SAIFX, SINOX)

Salomon Brothers Large Cap Growth Fund (Sym: SLCAX, SALBX, SALCX)

Salomon Brothers Mid Cap Fund (Sym: SMDAX, SMDBX, SMDZX)

Salomon Brothers National Tax Free Bond Fund (Sym: CFNIX, SNABX, SNALX)

Salomon Brothers New York Tax Free Bond Fund (Sym: CFTNX, SNFBX, SNFLX)

Salomon Brothers SB Adjustable Rate Income Fund (Sym: SJRAX, SJRBX, SJRZX)

Salomon Brothers SB Capital and Income Fund (Sym: SOLAX, SOLBX, SOLZX)

Salomon Brothers SB Convertible Fund (Sym: SVEAX, SVEBX, SCEZX)

Salomon Brothers SB Growth & Income Fund (Sym: SSWAX, SSWBX, SSWZX)

Salomon Brothers Short/Intermediate U.S. Government Fund (Sym: SUSAX, SUSBX, SUSCX)

Salomon Brothers Small Cap Growth (Sym: SASMX, SBSMX, SCSMX)

Salomon Brothers Strategic Bond Fund (Sym: SSTAX, SBSBX, SSTCX)

Smith Barney Aggressive Growth Fund (Sym: SHRAX, SAGBX, SAGCX)

Smith Barney All Cap Growth and Value Fund (Sym: SPAAX, SPBBX, SPBLX)

Smith Barney Appreciation Fund (Sym: SHAPX, SAPBX, SAPCX, SAPYX)

Smith Barney Arizona Municipals Fund (Sym: SLAZX, SAZBX, SAZLX)

Smith Barney Balanced Portfolio (Sym: SBBAX, SCBBX, SCBCX)

Smith Barney California Municipals Fund (Sym: SHRCX, SCABX, SCACX)

Smith Barney Classic Values Fund (Sym: SCLAX, SCLBX, SCLLX)

Smith Barney Conservative Portfolio (Sym: SBCPX, SBCBX, SBCLX)

Smith Barney Diversified Large Cap Growth Fund (Sym: CFLGX, CLCBX, SMDLX)

Smith Barney Diversified Strategic Income Fund (Sym: SDSAX, SLDSX, SDSIX)

Smith Barney Dividend and Income Fund (Sym: SUTAX, SLSUX, SBBLX)

Smith Barney Financial Services Fund (Sym: SBFAX, SBFBX, SFSLX)

Smith Barney Florida Portfolio (Sym: SBFLX, FLABX, SFLLX)

Smith Barney Fundamental Value Fund (Sym: SHFVX, SFVBX, SFVCX)

Smith Barney Georgia Portfolio (Sym: SBGAX, SBRBX, SGALX)

Smith Barney Global All Cap Growth and Value Fund (Sym: SPGAX, SPGGX, SPGLX)

Smith Barney Global Government Bond Portfolio (Sym: SBGLX, SBGBX, SGGLX)

Smith Barney Global Portfolio (Sym: CAGAX, CAGBX, SGPLX)

Smith Barney Government Securities Fund (Sym: SGVAX, HGVSX, SGSLX)

Smith Barney Group Spectrum Fund (Sym: SGSAX, SGSBX, SFTLX)

Smith Barney Growth Portfolio (Sym: SCGRX, SGRBX, SCGCX)

Smith Barney Hansberger Global Value Fund (Sym: SGLAX, SGLBX, SGLCX)

Smith Barney Health Sciences Fund (Sym: SBIAX, SBHBX, SBHLX)

Smith Barney High Growth Portfolio (Sym: SCHAX, SCHBX, SCHCX)

Smith Barney High Income Fund (Sym: SHIAX, SHIBX, SHICX)

Smith Barney Income Portfolio (Sym: SCAAX, SCIAX, SCILX)

Smith Barney Intermediate Maturity CA Municipals Fund (Sym: ITCAX, STDBX, SIMLX)

Smith Barney Intermediate Maturity NY Municipals Fund (Sym: IMNYX, SNMBX, SINLX)

Smith Barney International All Cap Growth Portfolio (Sym: SBIEX, SBIBX, SBICX)

Smith Barney International Large Cap Fund (Sym: CFIPX, SILCX, SILLX)

Smith Barney Investment Grade Bond Fund (Sym: SIGAX, HBDIX, SBILX)

Smith Barney Large Cap Core Fund (Sym: GROAX, GROBX, SCPLX)

Smith Barney Large Cap Growth and Value Fund (Sym: SPSAX, SPSBX, SPSLX)

Smith Barney Large Cap Value Fund (Sym: SBCIX, SBCCX, SBGCX)

Smith Barney Large Capitalization Growth Fund (Sym: SBLGX, SBLBX, SLCCX, SBLYX)

Smith Barney Limited Term Portfolio (Sym: SBLTX, STMBX, SMLLX)

Smith Barney Managed Governments Fund (Sym: SHMGX, MGVBX, SMGLX)

Smith Barney Managed Municipals Fund (Sym: SHMMX, SMMBX, SMMCX)

Smith Barney Massachusetts Municipals Fund (Sym: SLMMX, SMABX, SMALX)

Smith Barney Mid Cap Core Fund (Sym: SBMAX, SBMDX, SBMLX, SMBYX)

Smith Barney Municipal High Income Fund (Sym: STXAX, SXMT, SMHLX)

Smith Barney National Portfolio (Sym: SBBNX, SBNBX, SBNLX)

Smith Barney New Jersey Municipals Fund (Sym: SHNJX, SNJBX, SNJLX)

Smith Barney New York Portfolio (Sym: SBNYX, SMNBX, SBYLX)

Smith Barney Oregon Municipals Fund (Sym: SHORX, SORBX, SORLX)

Smith Barney Pennsylvania Portfolio (Sym: SBPAX, SBPBX, SPALX)

Smith Barney S & P 500 Index Fund (Sym: SBSPX)

Smith Barney SB Adjustable Rate Income Fund (Sym: ARMZX, ARMBX, ARMGX)

Smith Barney SB Capital and Income Fund (Sym: SOPAX, SOPTX, SBPLX)