Salomon Brothers Variable Rate Strategic Fund Inc. -''GFY''- Announces a Dividend of $0.0875 Per Share for the Months of March, April and May 2005

Business Wire, Feb 8, 2005

NEW YORK -- Salomon Brothers Variable Rate Strategic Fund Inc., which is listed on the New York Stock Exchange under the symbol "GFY," announced a dividend from ordinary income of $0.0875 per common share. The dividend distribution schedule for the months of March, April and May 2005 appear below:

Ex-Dividend            Record             Payable
         -----------           --------            --------
March      03/04/05            03/08/05            03/18/05

April      04/08/05            04/12/05            04/29/05

May        05/13/05            05/17/05            05/27/05

Salomon Brothers Variable Rate Strategic Fund Inc., a non-diversified investment management company, is managed by Salomon Brothers Asset Management Inc., an indirect wholly owned subsidiary of Citigroup Inc.

For more information, call 1-888-777-0102 or 1-800-SALOMON.