This excerpt taken from the SBI DEF 14A filed Sep 2, 2005.



This Joint Proxy Statement is furnished in connection with the solicitation by the Board of Directors or Trustees (each, a “Board,” and collectively, the “Boards,” and each Director or Trustee, a “Board Member” and collectively, the “Board Members”) of the Citi Funds, Salomon Brothers Funds and Smith Barney Funds (each, a “Fund,” and collectively, the “Funds”) listed below of proxies to be voted at the special meeting of shareholders of each Fund to be held at 1:00 p.m. (New York time) on Friday, October 21, 2005 at American Conference Centers, 780 Third Avenue, New York, New York 10017 (for each Fund, a “Meeting,” and collectively, the “Meetings”), and at any and all adjournments thereof. The Meetings will be held for the purposes set forth in the accompanying Notice.


The Board of each Fund has determined that the use of this Joint Proxy Statement for each Meeting is in the best interest of the Fund and its shareholders in light of the similar matters being considered and voted on by the shareholders of each of the Funds. This Joint Proxy Statement and the accompanying materials are being mailed by the Boards on or about September 3, 2005.


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