Smith Barney Investment Trust
	on behalf of the
	Smith Barney Large Capitalization Growth Fund

Supplement Dated April 27, 1998 to 
Prospectus Dated March 30. 1998


	The following information supplements the information in the 
Prospectus under "Investment Objectives and Management Policies"

	Futures Contracts and Options on Futures Contracts.  The Fund may 
enter into transactions in futures contracts and options on futures 
only (i) for bona fide hedging purposes (as defined in Commodities 
Futures Trading Commission regulations), or (ii) for non-hedging 
purposes, provided that the aggregate initial margin and premiums on 
such non-hedging positions do not exceed 5% of the liquidation value 
of the Fund's assets. 

Futures contracts provide for the future sale by one party and 
purchase by another party of a specified amount of a specific 
security at a specified future time and at a specified price.  The 
primary purpose of entering into a futures contract by the Fund is to 
protect the Fund from fluctuations in the value of securities without 
actually buying or selling the securities.  The Fund may enter into 
futures contracts and options on futures to seek higher investment 
returns when a futures contract is priced more attractively than 
stocks comprising a benchmark index, to facilitate trading or to 
reduce transaction costs.  The Fund will only enter into futures 
contracts and options on futures contracts that are traded on a 
domestic exchange and board of trade.  Assets committed to futures 
contracts will be segregated at the Fund's custodian to the extent 
required by law.

	Among the several risks accompanying the utilization of futures 
contracts and options on futures contracts are: First, the successful 
use of futures and options is dependent upon the ability of the 
Manager to predict correctly movements in the stock market or in the 
direction of interest rates.  These predictions involve skills and 
techniques that may be different from those involved in the 
management of investments in securities.  If the prices of the 
underlying commodities move in an unanticipated manner, the Fund may 
lose the expected benefit of these futures or options transactions 
and may incur losses.  Second, positions in futures contracts and 
options on futures contracts may only be closed out by entering into 
offsetting transactions on the exchange where the position was 
entered into (or through a linked exchange), and as a result of daily 
price fluctuations limits there can be no assurance the offsetting 
transaction could be entered into at an advantageous price at a 
particular time.  Consequently, the Fund may realize a loss on a 
futures contract or option that is not offset by an increase in the 
value of its portfolio securities that are being hedged or the fund 
may not be able to close a futures or options position without 
incurring a loss in the event of adverse price movements.

Options on Securities, Securities Indexes and Currencies.  The Fund 
may write (sell) covered put and call options on securities, 
securities indexes and currencies ("Options") and purchase put and 
call Options that are traded on foreign or U.S. securities exchanges 
and over the counter.  The Fund will write such Options for the 
purpose of increasing its return and/or protecting the value of its 
portfolio. In particular, where the Fund writes an Option that 
expires unexercised or is closed out by the Fund at a profit, it will 
retain the premium paid for the Option, which will increase its gross 
income and will offset in part the reduced value of a portfolio 
security in connection with which the Option may have been written or 
the increased cost of portfolio securities to be acquired.  However, 
the writing of Options constitutes only a partial hedge, up to the 
amount of the premium, less any transaction costs.  In contrast, if 
the price of the security underlying the Option moves adversely to 
the Fund's position, the Option may be exercised and the Fund will be 
required to purchase or sell the security at a disadvantageous price, 
resulting in losses that may only be partially offset by the amount 
of the premium.  The Fund may also write combinations of put and call 
Options on the same security, known as "straddles."  Such 
transactions generate additional premium income but also present 
increased risk.

	The Fund may purchase put and call Options in anticipation of 
declines in the value of portfolio securities or increases in the 
value of securities to be acquired.  In the event that the expected 
changes occur, the Fund may be able to offset the resulting adverse 
effect on its portfolio, in whole or in part, through the Options 
purchased.  The risk assumed by the Fund in connection with such 
transactions is limited to the amount of the premium and related 
transaction costs associated with the Option, although the Fund may 
be required to forfeit such amounts in the event that the prices of 
securities underlying the Options do not move in the direction or to 
the extent anticipated.


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