SBF Morgan Stanley Spx Abslt Rtrn Barriernt

Salomon Brothers Fund Inc (NYSE: SBF) as of December 31, 2005 Investment Objective: The Fund's primary investment objectives are growth and conservation of capital. Income receives secondary consideration. -0- *T Portfolio Composition* Common Stocks 98.8% Cash 1.2 Sector Allocations: Financials 19.7% Information Technology 15.2 Industrials 11.5 Consumer Staples 11.5 Healthcare 11.0 Consumer Discretionary 10.0 Energy 9.5 Materials 5.9 Telecommunication Services 3.3 Utilities 1.2 Cash 1.2 Top 10 Holdings General Electric 3.8% Microsoft 3.5 Boeing 3.0 Barrick Gold Corp. 2.5 Wells Fargo 2.5 Wal-Mart Stores Inc. 2.5 Exxon Mobil Corp 2.4 Sprint Nextel 2.3 Total SA, Sponsored ADR 2.2 JPMorgan Chase & Co 2.2 *Portfolio holdings and weightings are subject to change at any time. Portfolio Statistics Inception Date: September 24, 1929 Total Net Assets: $1,548.350 million Market Price: $15.08 NAV: $15.61 *T Salomon Brothers Fund Inc, a diversified investment management company, is managed by Salomon Brothers Asset Management, a wholly owned subsidiary of Legg Mason, Inc. For more information, call 1-888-777-0102 or 1-800-SALOMON, or consult the Fund's web site at www.sbam.com. 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," "Citigroup Asset Management," and "Davis Skaggs Investment 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.