SBF Morgan Stanley Spx Abslt Rtrn Barriernt

The Salomon Brothers Fund Inc (NYSE: SBF) announced today the anticipated schedule for its conversion from a closed-end investment company to an open-end investment company. The shareholders of the Fund approved the conversion at a special meeting held on May 1, 2006. The Fund anticipates the conversion will take place as of the close of business on Friday, June 30, 2006, provided the Fund's registration statement has been declared effective by the Securities and Exchange Commission on or before June 30, 2006. 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. A transaction confirmation will be mailed to each shareholder. If the registration statement has been declared effective, the stock transfer records of the Fund as a closed-end investment company will be permanently closed after the close of business on Friday, June 30, 2006, which will be the last day of trading in the Fund's shares. Trading in the Fund's shares on the New York Stock Exchange will be suspended by the Exchange before the opening of trading on Monday, July 3, 2006. Upon the conversion, Fund shareholders will be able to redeem their Class O shares at net asset value less 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 conversion. 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: "Smith Barney," "Salomon Brothers" and "Citi" are service marks of Citigroup, licensed for use by Legg Mason as the names of funds and investment advisers. Legg Mason and its affiliates, as well as the fund's investment manager, are not affiliated with Citigroup.