SMITH BARNEY INVESTMENT FUNDS INC.-
SMITH BARNEY HANSBERGER GLOBAL VALUE FUND
CLASS [  ] SHARES
INCORPORATED UNDER THE LAWS OF THE STATE OF MARYLAND

ACCOUNT NO. 					CUSIP 

THIS IS TO CERTIFY THAT 


IS THE OWNER OF


FULLY PAID AND NON-ASSESSABLE CLASS A SHARES OF CAPITAL 
STOCK OF PAR VALUE OF $0.001 EACH OF SMITH BARNEY 
INVESTMENT FUND INC.-SMITH BARNEY HANSBERGER GLOBAL 
VALUE FUND

("the Corporation") transferable only on the books of the Corporation by the 
holder hereof in person or by duly authorized attorney, upon surrender of this 
Certificate properly endorsed. This certificate is not valid until countersigned
 
by the Transfer Agent.

WITNESS the facsimile Seal of the Corporation and the facsimile Seal of the 
corporation and the facsimile signatures of its duly authorized officers.

DATED

___________________	____________________
CHAIRMAN		SECRETARY

BY _________________________
AUTHORIZED SIGNATURE

THE FUND HAS MORE THAN ONE CLASS OS THE CAPITAL STOCK 
AND THE BOARD OF DIRECTORS MAY AUTHORIZE ADDITIONAL 
CLASSES OF THE CAPITAL STOCK.  THE CORPORATION WILL 
FURNISH A FULL STATEMENT OF THE BOARD OF DIRECTOR'S 
AUTHORITY AND OF THE DESIGNATIONS AND ANY PREFERENCES, 
CONVERSIONS AND OTHER RIGHTS, VOTING POWERS, 
RESTRICTIONS LIMITATIONS AS TO DIVIDENDS, QUALIFICATIONS 
AND TERMS AND CONDITIONS OF REDEMPTION OF THE STOCK OF 
EACH CLASS WHICH THE CORPORATION IS AUTHORIZED TO ISSUE 
TO ANY STOCKHOLDER UPON REQUEST WITHOUT CHARGE.

The following abbreviations, when used in the inscription on the face of this 
certificate, shall be construed as though they were written out in full
 according 
to applicable laws or regulations.

TEN COM-	as tenants in commom		UNIF GIFT MIN ACT-	
						..........Custodian............
						(Cust)		(Minor)

TEN ENT-	as tenants by entireties 		under Uniform Gifts to 	
						Minors Act.................

JT TEN-	as joint tenants with right
		of survivorship and not as 
		tenants in common

Additional abbreviations may also be used though not in the above list.

For value recieved,_______________________hereby sell, assign and transfer 
unto

PLEASE INSERT SOCIAL SECURITY OR OTHER 
IDENTIFYING NUMBER OF ASSIGNEE

__________________________________________

________________________________________________________________
PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING 
POSTAL ZIP CODE OF ASSIGNEE 

________________________________________________________________
of the Capital Stock represented by the Certificate, and do hereby irrevocably 
constitute and appoint

_________________________________________________________
Attorney to transfer the said stock on the books of the within-named 
Corporation with full power of substitution in the premises.

Dated,_______________________
							
	_________________________
	NOTICE: The signature to this assignment
 	must correspond with the name as written 
	upon the face of the Certificate.  In every 
	particular, without alteration or enlargement, 
	or any change whatever.

SMITH BARNEY INVESTMENT FUNDS INC.-
SMITH BARNEY HANSBERGER GLOBAL SMALL CAP
VALUE FUND
CLASS [  ] SHARES
INCORPORATED UNDER THE LAWS OF THE STATE OF MARYLAND

ACCOUNT NO. 					CUSIP 

THIS IS TO CERTIFY THAT 


IS THE OWNER OF


FULLY PAID AND NON-ASSESSABLE CLASS A SHARES OF CAPITAL 
STOCK OF PAR VALUE OF $0.001 EACH OF SMITH BARNEY 
INVESTMENT FUND INC.-SMITH BARNEY HANSBERGER GLOBAL 
SMALL CAP VALUE FUND

("the Corporation") transferable only on the books of the Corporation by the 
holder hereof in person or by duly authorized attorney, upon surrender of this 
Certificate properly endorsed. This certificate is not valid until countersigned
 
by the Transfer Agent.

WITNESS the facsimile Seal of the Corporation and the facsimile Seal of the 
corporation and the facsimile signatures of its duly authorized officers.

DATED

___________________	____________________
CHAIRMAN		SECRETARY

BY _________________________
AUTHORIZED SIGNATURE

THE FUND HAS MORE THAN ONE CLASS OS THE CAPITAL STOCK 
AND THE BOARD OF DIRECTORS MAY AUTHORIZE ADDITIONAL 
CLASSES OF THE CAPITAL STOCK.  THE CORPORATION WILL 
FURNISH A FULL STATEMENT OF THE BOARD OF DIRECTOR'S 
AUTHORITY AND OF THE DESIGNATIONS AND ANY PREFERENCES, 
CONVERSIONS AND OTHER RIGHTS, VOTING POWERS, 
RESTRICTIONS LIMITATIONS AS TO DIVIDENDS, QUALIFICATIONS 
AND TERMS AND CONDITIONS OF REDEMPTION OF THE STOCK OF 
EACH CLASS WHICH THE CORPORATION IS AUTHORIZED TO ISSUE 
TO ANY STOCKHOLDER UPON REQUEST WITHOUT CHARGE.

The following abbreviations, when used in the inscription on the face of this 
certificate, shall be construed as though they were written out in full
according
to applicable laws or regulations.

TEN COM-	as tenants in commom		UNIF GIFT MIN ACT-	
						..........Custodian............
						(Cust)		(Minor)

TEN ENT-	as tenants by entireties 		under Uniform Gifts to 	
						Minors Act.................

JT TEN-	as joint tenants with right
		of survivorship and not as 
		tenants in common

Additional abbreviations may also be used though not in the above list.

For value recieved,_______________________hereby sell, assign and transfer 
unto

PLEASE INSERT SOCIAL SECURITY OR OTHER 
IDENTIFYING NUMBER OF ASSIGNEE


__________________________________________



________________________________________________________________
PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING 
POSTAL ZIP CODE OF ASSIGNEE 

________________________________________________________________
Of the Capital Stock represented by the Certificate, and do hereby irrevocably 
constitute and appoint

__________________________________________________________
Attorney to transfer the said stock on the books of the within-named 
Corporation with full power of substitution in the premises.

Dated,_______________________
							
	_________________________
	NOTICE: The signature to this assignment
 	must correspond with the name as written 
	upon the face of the Certificate.  In every 
	particular, without alteration or enlargement, 
	or any change whatever.