WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000808244
<NAME> SMITH BARNEY VARIABLE ACCOUNT FUNDS
<SERIES>
   <NUMBER> 3
   <NAME> U.S. GOVERNMENT
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                        2,762,157
<INVESTMENTS-AT-VALUE>                       2,845,626
<RECEIVABLES>                                   26,267
<ASSETS-OTHER>                                  14,800
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               2,886,693
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       10,513
<TOTAL-LIABILITIES>                             10,513
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     2,685,189
<SHARES-COMMON-STOCK>                          222,969
<SHARES-COMMON-PRIOR>                          355,506
<ACCUMULATED-NII-CURRENT>                      249,354
<OVERDISTRIBUTION-NII>                             717
<ACCUMULATED-NET-GAINS>                        106,805
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        83,469
<NET-ASSETS>                                 2,876,180
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              288,212
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  38,858
<NET-INVESTMENT-INCOME>                        249,354
<REALIZED-GAINS-CURRENT>                       145,254
<APPREC-INCREASE-CURRENT>                    (288,879)
<NET-CHANGE-FROM-OPS>                          105,729
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      248,660
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          6,349
<NUMBER-OF-SHARES-REDEEMED>                    158,102
<SHARES-REINVESTED>                             19,216
<NET-CHANGE-IN-ASSETS>                     (1,979,347)
<ACCUMULATED-NII-PRIOR>                        313,405
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                             23
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           17,828
<INTEREST-EXPENSE>                              21,030
<GROSS-EXPENSE>                                 38,858
<AVERAGE-NET-ASSETS>                         3,957,221
<PER-SHARE-NAV-BEGIN>                            13.66
<PER-SHARE-NII>                                  01.22
<PER-SHARE-GAIN-APPREC>                        (00.76)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                        01.22
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.90
<EXPENSE-RATIO>                                  00.98
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


<ARTICLE> 6
<CIK> 0000808244
<NAME> SMITH BARNEY VARIABLE ACCOUNT FUNDS
<SERIES>
   [NUMBER] 1
   <NAME> INCOME AND GROWTH
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
[INVESTMENTS-AT-COST]                       16,409,993
[INVESTMENTS-AT-VALUE]                      21,147,869
[RECEIVABLES]                                   36,727
[ASSETS-OTHER]                                       0
[OTHER-ITEMS-ASSETS]                               525
[TOTAL-ASSETS]                              21,185,121
[PAYABLE-FOR-SECURITIES]                       301,850
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                       71,466
[TOTAL-LIABILITIES]                            373,316
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                    14,842,746
[SHARES-COMMON-STOCK]                        1,416,734
[SHARES-COMMON-PRIOR]                        1,954,464
[ACCUMULATED-NII-CURRENT]                       20,359
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                      1,210,824
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                     4,737,876
[NET-ASSETS]                                20,811,805
[DIVIDEND-INCOME]                              763,758
[INTEREST-INCOME]                               93,456
[OTHER-INCOME]                                       0
[EXPENSES-NET]                                 203,603
[NET-INVESTMENT-INCOME]                        653,611
[REALIZED-GAINS-CURRENT]                     4,887,988
[APPREC-INCREASE-CURRENT]                    (504,598)
[NET-CHANGE-FROM-OPS]                        5,037,001
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                      635,559
[DISTRIBUTIONS-OF-GAINS]                     3,677,164
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                        184,240
[NUMBER-OF-SHARES-REDEEMED]                 14,190,110
[SHARES-REINVESTED]                          4,311,352
[NET-CHANGE-IN-ASSETS]                     (8,970,240)
[ACCUMULATED-NII-PRIOR]                          2,307
[ACCUMULATED-GAINS-PRIOR]                            0
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                          164,890
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                                203,603
[AVERAGE-NET-ASSETS]                        27,384,360
[PER-SHARE-NAV-BEGIN]                            15.24
[PER-SHARE-NII]                                  00.57
[PER-SHARE-GAIN-APPREC]                          02.68
[PER-SHARE-DIVIDEND]                             00.56
[PER-SHARE-DISTRIBUTIONS]                        03.24
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              14.69
[EXPENSE-RATIO]                                  00.74
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
        

<ARTICLE> 6
<CIK> 0000808244
<NAME> SMITH BARNEY VARIABLE ACCOUNT FUNDS
<SERIES>
   [NUMBER] 2
   <NAME> RESERVE
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
[INVESTMENTS-AT-COST]                                0
[INVESTMENTS-AT-VALUE]                               0
[RECEIVABLES]                                   26,850
[ASSETS-OTHER]                                 422,320
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                                 449,170
[PAYABLE-FOR-SECURITIES]                             0
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                       14,630
[TOTAL-LIABILITIES]                             14,630
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                       406,798
[SHARES-COMMON-STOCK]                          434,540
[SHARES-COMMON-PRIOR]                          180,185
[ACCUMULATED-NII-CURRENT]                       64,641
[OVERDISTRIBUTION-NII]                             140
[ACCUMULATED-NET-GAINS]                         27,882
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                             0
[NET-ASSETS]                                   434,540
[DIVIDEND-INCOME]                                    0
[INTEREST-INCOME]                               77,606
[OTHER-INCOME]                                       0
[EXPENSES-NET]                                  12,965
[NET-INVESTMENT-INCOME]                         64,641
[REALIZED-GAINS-CURRENT]                        27,718
[APPREC-INCREASE-CURRENT]                     (59,786)
[NET-CHANGE-FROM-OPS]                         (32,068)
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                      313,396
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                         20,010
[NUMBER-OF-SHARES-REDEEMED]                    168,547
[SHARES-REINVESTED]                              5,881
[NET-CHANGE-IN-ASSETS]                     (1,880,943)
[ACCUMULATED-NII-PRIOR]                        124,809
[ACCUMULATED-GAINS-PRIOR]                            0
[OVERDISTRIB-NII-PRIOR]                            156
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                            5,864
[INTEREST-EXPENSE]                               7,101
[GROSS-EXPENSE]                                 12,965
[AVERAGE-NET-ASSETS]                         1,298,421
[PER-SHARE-NAV-BEGIN]                            12.71
[PER-SHARE-NII]                                  01.92
[PER-SHARE-GAIN-APPREC]                         (1.72)
[PER-SHARE-DIVIDEND]                                 0
[PER-SHARE-DISTRIBUTIONS]                      (01.92)
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              10.99
[EXPENSE-RATIO]                                  01.00
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
        



</TABLE>