CERTIFICATIONS PURSUANT TO SECTION 906
EX-99.906CERT

                                  CERTIFICATION

R. Jay Gerken, Chief Executive Officer, and Richard L. Peteka, Chief Financial
Officer of Capital Appreciation Fund (the "Registrant"), each certify to the
best of his knowledge that:

         1.       The Registrant's periodic report on Form N-CSR for the period
ended December 31, 2003 (the "Form N-CSR") fully complies with the requirements
of section 15(d) of the Securities Exchange Act of 1934, as amended; and

         2.       The information contained in the Form N-CSR fairly presents,
in all material respects, the financial condition and results of operations of
the Registrant.

Chief Executive Officer                             Chief Financial Officer
Capital Appreciation Fund                           Capital Appreciation Fund

/s/ R. Jay Gerken                                   /s/ Richard L. Peteka
- ------------------------------------                ---------------------------
R. Jay Gerken                                       Richard L. Peteka
Date: March 8, 2004                                 Date: March 8, 2004

This certification is being furnished to the Securities and Exchange Commission
solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of the
Form N-CSR with the Commission.