STEIN ROE FLOATING RATE LLC
N-18F1, 1998-09-24
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                          Form N-18F-1

                SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549


         STEIN ROE FLOATING RATE LIMITED LIABILITY COMPANY
                     Exact Name of Registrant

                     NOTIFICATION OF ELECTION

     The undersigned registered investment company hereby notifies 
the Securities and Exchange Commission that it elects to commit 
itself to pay in cash all redemptions by a shareholder of record 
as provided by Rule 18f-1 under the Investment Company Act of 
1940.  It is understood that this election is irrevocable while 
such Rule is in effect unless the Commission by order upon 
application permits the withdrawal of this Notification of 
Election.

                             SIGNATURE

     Pursuant to the requirements of Rule 18f-1 under the 
Investment Company Act of 1940, the registrant has caused this 
notification of election to be duly executed on its behalf in the 
city of Chicago and the state of Illinois on the 23rd day of 
September, 1998.

                         STEIN ROE FLOATING RATE LIMITED 
                         LIABILITY COMPANY


                    By   WILLIAM H. BELDEN, III
                         William H. Belden, III, Trustee

Attest: HEIDI J. WALTER
        Heidi J. Walter, Secretary





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