File No. 333-87177
Rule 497(e)
STEIN ROE ADVISOR FLOATING RATE FUND
Class A, B and C Shares
Supplement to Prospectus dated November 1, 1999
During the period February 1 through April 30, 2000, shareholders
will pay a reduced sales charge on purchases of Class A shares
according to the following table:
Dollar Amount of
Transaction Sales Charge
------------------ -------------
Less than $100,000 1.50%
$100,000 to less than $500,000 1.50%
$500,000 to less than $1,000,000 1.25%
$1,000,000 or more 0.00%
Purchases of $1,000,000 to $5,000,000 are subject to a 1.00% Early
Withdrawal Charge (calculated on the lesser of cost or market
value) on redemptions within 18 months from the first day of the
month following each purchase. The portion of a purchase in
excess of $5,000,000 will not be subject to the Early Withdrawal
Charge.
761-36/262A-0200 February 1, 2000
