STEIN ROE ADVISOR TRUST
24F-2NT, 1998-12-21
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                           UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549

                          FORM 24F-2
               Annual Notice of Securities Sold
                    Pursuant to Rule 24f-2

     Read instructions at end of Form before preparing Form.

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1.   Name and address of issuer:

         Stein Roe Advisor Trust
         One South Wacker Drive
         Chicago, IL  60606
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2.   The name of each series or class of securities for which this 
     Form is filed (If the Form is being filed for all series and 
     classes of securities of issuer, check the box but do not list 
     series or classes):  [ ]
        Stein Roe Advisor International Fund, Class K
        Stein Roe Advisor Special Venture Fund, Class K
        Stein Roe Advisor Balanced Fund, Class K
        Stein Roe Advisor Growth & Income Fund, Class K
        Stein Roe Advisor Special Fund, Class K
        Stein Roe Advisor Young Investor Fund, Classes A and K
        Stein Roe Advisor Growth Stock Fund, Classes A, B, C, and K
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3.   Investment Company Act File Number:  811-07955

     Securities Act File Number:  333-17255
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4(a) Last day of fiscal year for which this Form is filed:  
          September 30, 1998
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4(b) [ ] Check box if this Form is being filed late (i.e., more than 
         90 calendar days after the end of the issuer's fiscal year).  
         (See Instruction A.2)

Note: If the Form is being filed late, interest must be paid on the 
registration fee due.
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4(c) [ ] Check box if this is the last time the issuer will be filing 
         this Form.
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5.  Calculation of registration fee:

   (i) Aggregate sale price of securities sold during
       the fiscal year pursuant to section 24(f):            $187,895,195.61

  (ii) Aggregate price of securities redeemed 
       or repurchased during the fiscal year:  $20,355,490.09

 (iii) Aggregate price of securities redeemed 
       or repurchased during any prior fiscal 
       year ending no earlier than October 11, 
       1995 that were not previously used to 
       reduce registration fees payable to 
       the Commission:                         $            0

  (iv) Total available redemption credits
       [add Items 5(ii) and 5(iii)]:                         -$20,355,490.09



   (v) Net sales--if Item 5(i) is greater than 
       Item 5(iv) [subtract Item 5(iv) from 
       Item 5(i)]:                                           $167,539,705.52

  (vi) Redemption credits available for use in        $(0)
       future years--if Item 5(i) is less than
       Item 5(iv) [subtract Item 5(iv) from 
       Item 5(i)]:

 (vii) Multiplier for determining registration                     x .000278
       fee (See Instruction C.9):

(viii) Registration fee due [multiply Item 5(v)  
       by 5(vii) (enter "0" if no fee is due):                  = $46,576.04
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6  Prepaid Shares

   If the response to Item 5(i) was determined by deducting an amount 
   of securities that were registered under the Securities Act of 
   1933 pursuant to rule 24e-2 as in effect before October 11, 1997, 
   then report the amount of securities (number of shares or other 
   units) deducted here: ______  If there is a number of shares or 
   other units that were registered pursuant to rule 24e-2 remaining 
   unsold at the end of the fiscal year for which this form is filed 
   that are available for use by the issuer in future fiscal years, 
   then state that number here: ______
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7.  Interest due--if this Form is being filed more than 90 days after 
    the end of the issuer's fiscal year (see Instruction D): 
                                                        +$         0
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8.  Total amount of registration fee due plus any interest due [line 
    5(viii) plus line 7]:                               = $46,576.04
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9.  Date the registration fee and any interest payment was sent to 
    the Commission's lockbox depository:  Dec. 18, 1998.
            Method of Delivery:
                               [X] Wire Transfer
                               [ ] Mail or other means
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                              SIGNATURES

This report has been signed below by the following persons on behalf 
of the issuer and in the capacities and on the dates indicated.

By (Signature and Title*) /S/ GARY A. ANETSBERGER
                          Gary A. Anetsberger, Senior Vice-President

                          /S/ SCOTT E. VOLK
                          Scott E. Volk, Treasurer
Date: December 21, 1998

   *Please print the name and title of the signing officer below the 
    signature.



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