File No. 333-17255
Rule 497(e)
LIBERTY-STEIN ROE ADVISOR TRUST
Stein Roe Advisor Growth & Income Fund, Class K
Supplement to Prospectus dated February 2, 1999
The Board of Trustees of Liberty-Stein Roe Advisor Trust
voted on November 2, 1999, to liquidate Stein Roe Advisor Growth &
Income Fund, Class K (the "Fund"). The Board directed that sales
of Fund shares be suspended as of November 5, 1999, and that the
Fund be liquidated on November 30, 1999, or before that time if
all shareholders have redeemed their interests in the Fund. In
the case of shares held in qualified retirement plans for which
Stein Roe does receive transfer instructions by the liquidation
date, Stein Roe will transfer such shares to Stein Roe Cash
Reserves Fund.
The Board's decision to liquidate the Fund was prompted by
the Fund's relatively small size and the belief that, under
current conditions, it would not be likely to attract significant
new assets in the near future. Funds of nominal asset size
generally tend to be inefficient for shareholders-they may have
higher expense ratios and less investment flexibility and,
consequently, lower returns over the long term.
This Supplement is dated November 4, 1999
