<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000808244
<NAME> SMITH BARNEY VARIABLE ACCOUNT FUNDS
<SERIES>
   <NUMBER> 2
   <NAME> RESERVE ACCOUNT PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               DEC-31-1997
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<SHARES-COMMON-STOCK>                           12,593
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<ACCUMULATED-NII-CURRENT>                            0
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<OTHER-INCOME>                                       0
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<DISTRIBUTIONS-OTHER>                                0
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<NUMBER-OF-SHARES-REDEEMED>                     31,011
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<NET-CHANGE-IN-ASSETS>                         337,562
<ACCUMULATED-NII-PRIOR>                         64,641
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<OVERDISTRIB-NII-PRIOR>                             68
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<PER-SHARE-NAV-BEGIN>                            10.99
<PER-SHARE-NII>                                  00.15
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                             00.25
<PER-SHARE-DISTRIBUTIONS>                        03.19
<RETURNS-OF-CAPITAL>                                 0
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<EXPENSE-RATIO>                                  01.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>