Stein Roe Advisor Special Venture Fund
a series of Stein Roe Advisor Trust
Supplement to Prospectus dated February 2, 1998
Effective October 7, 1998, the portfolio managers for Stein Roe
Advisor Special Venture Fund are James P. Haynie and Michael Rega,
who are jointly employed by Colonial Management Associates, Inc.
("CMA") and Stein Roe & Farnham Incorporated (each of which is an
indirect wholly owned subsidiary of Liberty Financial Companies,
Inc.). Mr. Haynie has managed or co-managed the Colonial Small
Cap Value Fund since 1993. Mr. Rega has been employed by CMA as
an analyst since 1993 and has co-managed the Colonial Small Cap
Value Fund and another Colonial equity fund since 1996.
The Adviser utilizes the trading facilities of CMA to place all
orders for the purchase and sale of portfolio securities for the
Fund. In selecting broker-dealers, the Adviser may direct CMA to
consider research and brokerage services furnished to the Adviser.
This Supplement is Dated October 7, 1998
