SBF Morgan Stanley Spx Abslt Rtrn Barriernt

NEW YORK, Oct. 21 /PRNewswire/ -- Elliott Associates, L.P. and Elliott International, L.P. (collectively "Elliott"), who together are reportedly the largest stockholder of The Salomon Brothers Fund Inc (NYSE:SBF), today made the following statement regarding the postponement of the SBF Special Stockholders' Meeting until November 15, 2005, to consider the approval of a new management agreement. The approval is in connection with the pending transaction between Citigroup Inc. (NYSE:C) and Legg Mason, Inc. (NYSE:LM). Elliott is a long-term investor and the beneficial owner of 5.88 million shares, or approximately 6%, of SBF. "We are gratified by the continuing strong support we have received from institutional and retail stockholders. Elliott supports the decision by the Board of Directors of The Salomon Brothers Fund to postpone the Special Meeting of Stockholders until November 15. We remain prepared to meet with the Board during this period in an effort to have the Board implement a strategy to eliminate or nearly eliminate the discount to net asset value." About Elliott Associates, L.P. Elliott Associates, L.P. and its sister fund, Elliott International, L.P., have more than $5.5 billion of capital under management. Founded in 1977, Elliott Associates is one of the oldest funds of its kind under continuous management. DATASOURCE: Elliott Associates, L.P. CONTACT: Scott Tagliarino, +1-212-506-2999, or Cell: +1-917-922-2364, for Elliott Associates, L.P.

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