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STEIN ROE ADVISOR TAX-MANAGED GROWTH FUND II
Class A, B, C and Z shares
Supplement to Prospectuses and Statement of
Additional Information dated March 1, 2000
(Replacing Supplement dated June 23, 2000)
Effective July 14, 2000, the Fund changed its name to "Liberty Tax-Managed
Growth Fund II."
Effective immediately the initial investment minimum is lowered to $1,000 and
subsequent investments is lowered to $50.
709-36/329C-0700 July 24, 2000
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