Stein Roe Advisor Trust
Stein Roe Advisor Young Investor [service mark] Fund
Supplement to Prospectus
Dated Jan. 26, 1998, Revised July 20, 1998
(1) The first sentence of the second paragraph under the caption
"How to Purchase Shares" is revised as follows:
The initial purchase minimum is $1,000; subsequent
investments may be as small as $50. The initial purchase
minimum for UGMA, UTMA and Education IRA accounts is
generally $50.
(2) A new caption is added after the caption "Management" as
follows:
Year 2000
The Fund's Advisor, Administrator, Distributor and Transfer
Agent (Liberty Companies) are actively coordinating, managing
and monitoring Year 2000 readiness for the Fund. The Liberty
Companies are taking steps that they believe are reasonably
designed to address the Year 2000 problem and are working with
vendors who provide services, software and systems to the Fund
to ensure that date-related information and data can be
properly processed and calculated on and after January 1,
2000. Many Fund service providers and vendors, including the
Liberty Companies, are in the process of making Year 2000
modifications to their services, software and systems and
believe that such modifications will be completed on a timely
basis prior to January 1, 2000. The cost of these
modifications will not affect the Fund. However, no
assurances can be given that all modifications required to
ensure proper data processing and calculation on and after
January 1, 2000 will be timely made or that services to the
Fund will not be adversely affected.
(3) Colonial Investors Service Center, Inc., the Fund's transfer
agent, has changed its name to Liberty Funds Services, Inc.
The new name will not affect the services to the Fund.
This Supplement is Dated Oct. 7, 1998
YI-36/023G-998
