File No. 333-17255
Rule 497(e)
STEIN ROE ADVISOR TRUST
Stein Roe Advisor Special Fund
Supplement to February 14, 1997 Prospectus
_____________________
Bruce Dunn, 62, co-portfolio manager of SR&F Special
Portfolio, has announced his intention to retire as portfolio
manager on June 30, 1997, after 32 years of valuable service
to Stein Roe & Farnham Incorporated. Stein Roe & Farnham
Incorporated is actively seeking a replacement for Mr. Dunn.
In the interim, Richard Peterson will continue to manage the
Fund. Mr. Peterson has co-managed the Portfolio with Mr.
Dunn since its inception.
This Supplement is Dated April 11, 1997
<PAGE>
STEIN ROE ADVISOR TRUST
Stein Roe Advisor Special Venture Fund
Supplement to February 14, 1997 Prospectus
_____________________
Bruce Dunn, 62, co-portfolio manager of SR&F Special
Venture Portfolio, has announced his intention to retire as
portfolio manager on June 30, 1997, after 32 years of
valuable service to Stein Roe & Farnham Incorporated. Stein
Roe & Farnham Incorporated is actively seeking a replacement
for Mr. Dunn. In the interim, Richard Peterson will continue
to manage the Fund. Mr. Peterson has co-managed the
Portfolio with Mr. Dunn since its inception.
This Supplement is Dated April 11, 1997
