Salomon Brothers Inflation Management Fund Inc. as of June 30, 2004

Salomon Brothers Inflation Management Fund Inc. as of June 30,
2004 


NEW YORK, July 21  /PRNewswire-FirstCall/ -- Salomon Brothers Inflation
Management Fund Inc. (NYSE:IMF) as of June 30, 2004.

Investment Objective: The Fund's primary investment objective is total return
with an emphasis on income.

  Portfolio Composition*
  Asset Allocations:
  Inflation Protected Securities (IPS)               80.00%
    U.S. Treasury Inflation Protected Securities     71.78
    Floaters/Short Duration                          8.22

  Emerging Market Debt                               10.04
  Cash                                               9.96

  Portfolio Credit Breakdown:
  Treasury/Agency:     71.78%
  AAA                  0.57
  AA                   0.10
  A                    2.56
  BBB                  5.89
  BB                   4.14
  B                    3.46
  CCC                  0.54
  CC                   0.19
  Below C              0.81
  Cash                 9.96


  Duration:                 5.07 years
  Average Maturity:         9.8 years
  Average Life:             9.3 years


  *Portfolio holdings and weightings are subject to change at any time.


  Inception Date:      May 25, 2004
  Inception Price:          $20.00

  Total Assets:             $183.789 million
  Market Price:             $19.46
  NAV:                      $19.13
  (Daily NAV is available on market quotation systems using the symbol
  XIMFX.)
  Dividend Rate:            To Be Announced
  Frequency:                Monthly



Salomon Brothers Inflation Management Fund Inc. is a non-diversified closed-end
investment management company traded on the New York Stock Exchange under the
symbol "IMF." The Fund is managed by Salomon Brothers Asset Management Inc, an
indirect wholly owned subsidiary of Citigroup Inc.

For more information, call 1-888-777-0102 or 1-800-SALOMON, or consult the
Fund's web site at http://www.sbam.com/. 

DATASOURCE: Salomon Brothers Inflation Management Fund Inc.



CONTACT:  Brenda Grandell, Director, Closed-End Funds, Citigroup Asset

Management, [phone]; or Media Relations - Edward Giltenan, Head of

Public Relations, Citigroup Asset Management, [phone]



Web site:  http://www.sbam.com/ 

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