[ARTICLE] 6
[CIK] 0000808244
[NAME] SMITH BARNEY VARIABLE ACCOUNT FUNDS
[SERIES]
   [NUMBER] 1
   [NAME] INCOME AND GROWTH
<TABLE>
<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
</TABLE>