<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000808244
<NAME> SMITH BARNEY VARIBLE ACCOUNT FUNDS
<SERIES>
   <NUMBER> 1
   <NAME> U.S. GOV'T./HIGH QUALITY SECURITIES PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                          220,000
<INVESTMENTS-AT-VALUE>                         220,000
<RECEIVABLES>                                   25,312
<ASSETS-OTHER>                                      72
<OTHER-ITEMS-ASSETS>                           740,247
<TOTAL-ASSETS>                                 985,631
<PAYABLE-FOR-SECURITIES>                            35
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       12,596
<TOTAL-LIABILITIES>                             12,631
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       972,290
<SHARES-COMMON-STOCK>                           93,570
<SHARES-COMMON-PRIOR>                          127,737
<ACCUMULATED-NII-CURRENT>                          710
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                   973,000
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               14,274
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  11,732
<NET-INVESTMENT-INCOME>                          2,542
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                            2,542
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         19,525
<NUMBER-OF-SHARES-REDEEMED>                     72,448
<SHARES-REINVESTED>                             18,756
<NET-CHANGE-IN-ASSETS>                       (644,165)
<ACCUMULATED-NII-PRIOR>                         88,295
<ACCUMULATED-GAINS-PRIOR>                      104,742
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            5,279
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 21,843
<AVERAGE-NET-ASSETS>                         1,174,560
<PER-SHARE-NAV-BEGIN>                            12.66
<PER-SHARE-NII>                                  00.03
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                              1.06
<PER-SHARE-DISTRIBUTIONS>                         1.23
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.40
<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>