[ARTICLE] 6
[CIK] 0000808244
[NAME] SMITH BARNEY VARIABLE ACCOUNT FUNDS
[SERIES]
   [NUMBER] 2
   [NAME] RESERVE ACCOUNT PORTFOLIO
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          DEC-31-1997
[PERIOD-END]                               DEC-31-1997
[INVESTMENTS-AT-COST]                                0
[INVESTMENTS-AT-VALUE]                               0
[RECEIVABLES]                                   42,529
[ASSETS-OTHER]                                  63,711
[OTHER-ITEMS-ASSETS]                                38
[TOTAL-ASSETS]                                 106,278
[PAYABLE-FOR-SECURITIES]                             0
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                        9,300
[TOTAL-LIABILITIES]                              9,300
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                        96,121
[SHARES-COMMON-STOCK]                           12,593
[SHARES-COMMON-PRIOR]                           39,529
[ACCUMULATED-NII-CURRENT]                            0
[OVERDISTRIBUTION-NII]                             857
[ACCUMULATED-NET-GAINS]                              0
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                             0
[NET-ASSETS]                                    96,978
[DIVIDEND-INCOME]                                    0
[INTEREST-INCOME]                                4,930
[OTHER-INCOME]                                       0
[EXPENSES-NET]                                   1,905
[NET-INVESTMENT-INCOME]                          3,025
[REALIZED-GAINS-CURRENT]                             0
[APPREC-INCREASE-CURRENT]                            0
[NET-CHANGE-FROM-OPS]                            3,025
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                        2,236
[DISTRIBUTIONS-OF-GAINS]                        27,718
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                            185
[NUMBER-OF-SHARES-REDEEMED]                     31,011
[SHARES-REINVESTED]                              3,890
[NET-CHANGE-IN-ASSETS]                         337,562
[ACCUMULATED-NII-PRIOR]                         64,641
[ACCUMULATED-GAINS-PRIOR]                       27,718
[OVERDISTRIB-NII-PRIOR]                             68
[OVERDIST-NET-GAINS-PRIOR]                      27,718
[GROSS-ADVISORY-FEES]                              857
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                                 22,157
[AVERAGE-NET-ASSETS]                           190,158
[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
[PER-SHARE-NAV-END]                              07.70
[EXPENSE-RATIO]                                  01.00
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>