SBF Morgan Stanley Spx Abslt Rtrn Barriernt

At a special meeting of The Salomon Brothers Fund Inc (NYSE: SBF) held earlier today, shareholders of the Fund voted to approve the conversion of the Fund from a closed-end investment company to an open-end investment company and certain amendments to the Fund's fundamental investment restrictions, including the fundamental investment restrictions relating to borrowing, investing in real estate, lending and investing in other investment companies. The shareholders also elected Andrew L. Breech, Carol L. Colman, William R. Dill, R. Jay Gerken, William R. Hutchinson, and Thomas F. Schlafly to continue to serve as Directors of the Fund. The conversion of the Fund from a closed-end investment company to an open-end investment company is expected to take place on or before June 30, 2006. Prior to the conversion, the Fund must have an effective registration statement. Upon conversion, shares of the Fund will be reclassified as Class O shares and each shareholder of the Fund will continue to own shares with the same aggregate net asset value as the shares the shareholder owned immediately prior to the conversion. Class O shares of the Fund will be available only to holders of Fund shares on the date of the conversion of the Fund from a closed-end investment company to an open-end investment company. No additional Class O shares will be issued after conversion, except pursuant to the dividend/distribution reinvestment program. Class O shares of the Fund will not be eligible for exchange of shares of any other fund in the Legg Mason Partners fund complex. There will be no initial or deferred sales charges on the Class O shares. The Fund will, however, charge a redemption fee equal to 0.75% of the aggregate net asset value of the Class O shares that are redeemed during the first 12 months following the Fund's conversion to an open-end investment company. In connection with the conversion, the Fund will suspend its dividend reinvestment plan following completion of the reinvestment of the dividend declared April 26 that is payable May 19, 2006. The Fund's optional cash purchase plan also has been terminated effective today. The Salomon Brothers Fund Inc, a diversified investment management company, is managed by Salomon Brothers Asset Management Inc, a wholly owned subsidiary of Legg Mason, Inc. For additional information, please contact the Investor Relations group at 1-888-777-0102, or the Fund's web site at www.leggmason.com/InvestorServices. Note: On December 1, 2005, Citigroup Inc. ("Citigroup") sold substantially all of its worldwide asset management business, Citigroup Asset Management ("CAM"), to Legg Mason, Inc. ("Legg Mason"). As part of this transaction, the investment adviser for the fund(s) referenced herein became a wholly owned subsidiary of Legg Mason. Under a licensing agreement between Citigroup and Legg Mason, the names of the funds, the names of any classes of shares of funds, and the names of investment advisers of the funds, as well as all logos, trademarks, and service marks related to Citigroup or any of its affiliates ("Citi Marks") are licensed for use by Legg Mason. Citi Marks include, but are not limited to, "Smith Barney," "Salomon Brothers," "Citi," and "Citigroup Asset Management." Legg Mason and its affiliates, as well as the Fund's investment adviser, are not affiliated with Citigroup. All Citi Marks are owned by Citigroup, and are licensed for use until no later than one year after the date of the licensing agreement.