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

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000764624
<NAME> Smith Barney Exchange Reserve Fund
<SERIES>
   <NUMBER>005
   <NAME>Smith Barney Income Funds

<S>                             <C>
<PERIOD-TYPE>                  Year
<FISCAL-YEAR-END>                               Jul-31-2000
<PERIOD-END>                                    Jul-31-2000
<INVESTMENTS-AT-COST>                           124,235,728
<INVESTMENTS-AT-VALUE>                          124,235,728
<RECEIVABLES>                                        36,274
<ASSETS-OTHER>                                      280,807
<OTHER-ITEMS-ASSETS>                                      0
<TOTAL-ASSETS>                                  124,552,809
<PAYABLE-FOR-SECURITIES>                                  0
<SENIOR-LONG-TERM-DEBT>                                   0
<OTHER-ITEMS-LIABILITIES>                           389,496
<TOTAL-LIABILITIES>                                 389,496
<SENIOR-EQUITY>                                           0
<PAID-IN-CAPITAL-COMMON>                        124,163,313
<SHARES-COMMON-STOCK>                            94,924,910
<SHARES-COMMON-PRIOR>                           120,149,909
<ACCUMULATED-NII-CURRENT>                                 0
<OVERDISTRIBUTION-NII>                                    0
<ACCUMULATED-NET-GAINS>                                   0
<OVERDISTRIBUTION-GAINS>                                  0
<ACCUM-APPREC-OR-DEPREC>                                  0
<NET-ASSETS>                                    124,163,313
<DIVIDEND-INCOME>                                         0
<INTEREST-INCOME>                                 9,033,395
<OTHER-INCOME>                                            0
<EXPENSES-NET>                                    1,940,986
<NET-INVESTMENT-INCOME>                           7,092,409
<REALIZED-GAINS-CURRENT>                                  0
<APPREC-INCREASE-CURRENT>                                 0
<NET-CHANGE-FROM-OPS>                             7,092,409
<EQUALIZATION>                                            0
<DISTRIBUTIONS-OF-INCOME>                         5,639,616
<DISTRIBUTIONS-OF-GAINS>                                  0
<DISTRIBUTIONS-OTHER>                                     0
<NUMBER-OF-SHARES-SOLD>                         653,749,502
<NUMBER-OF-SHARES-REDEEMED>                     683,862,065
<SHARES-REINVESTED>                               4,887,564
<NET-CHANGE-IN-ASSETS>                          (23,300,533)
<ACCUMULATED-NII-PRIOR>                                   0
<ACCUMULATED-GAINS-PRIOR>                                 0
<OVERDISTRIB-NII-PRIOR>                                   0
<OVERDIST-NET-GAINS-PRIOR>                                0
<GROSS-ADVISORY-FEES>                               774,777
<INTEREST-EXPENSE>                                        0
<GROSS-EXPENSE>                                   1,940,986
<AVERAGE-NET-ASSETS>                            122,987,351
<PER-SHARE-NAV-BEGIN>                                 1.000
<PER-SHARE-NII>                                       0.046
<PER-SHARE-GAIN-APPREC>                               0.000
<PER-SHARE-DIVIDEND>                                  0.046
<PER-SHARE-DISTRIBUTIONS>                             0.000
<RETURNS-OF-CAPITAL>                                  0.000
<PER-SHARE-NAV-END>                                   1.000
<EXPENSE-RATIO>                                        1.25



</TABLE>