Today's investors are constantly confronted with the challenge of balancing investment strategies that attempt to capitalize on the opportunities in the global marketplace with the need to minimize the risk to their overall portfolio.

One of the alternative strategies a growing number of individual and institutional investors have chosen that can help accomplish this objective is managed futures. As a diversification strategy, a managed futures program has the potential to enhance overall portfolio return and, at the same time, reduce total portfolio risk.

Managed futures programs are designed to offer investors access to the global futures and commodities markets by employing professional futures money managers called Commodity Trading Advisors ("CTAs"). CTAs use established trading methods and money management techniques to attempt to achieve profits and control risk in the commodity, financial futures and foreign currency markets around the world.

Smith Barney has one of the largest and most experienced full-service Managed Futures departments in the United States. A complete range of managed programs utilizing top futures money managers and extensive due diligence is available.

Futures trading involves a high level of risk and is not suitable for all investors. Speak with a Smith Barney Financial Consultant about whether a Managed Futures investment is appropriate for you.

For more information, please contact your Financial Advisor.