STEIN ROE ADVISOR TAX-MANAGED GROWTH FUND
Supplement to Prospectus dated February 28, 1998
The Fund's Prospectus is amended as follows:
(A) Effective June 1, 1998, Liberty Financial Investments, Inc. (Distributor)
will pay an additional 1% commission (total commission of 5%) to financial
service firms on sales of Class B shares of the above Fund to their clients or
customers. The commission will be paid directly from the Distributor's assets
and will not affect the expenses paid by Fund shareholders. Financial service
firms may waive receipt of all or any portion of these payments.
(B) Effective May 14, 1998, the Fund's custodian is The Chase Manhattan Bank.
MG-36/318F-0598 May 29, 1998
