File No. 2-99356
Rule No. 497(e)
STEIN ROE MUNICIPAL TRUST
Stein Roe Municipal Money Market Fund
Stein Roe Intermediate Municipals Fund
Stein Roe Managed Municipals Fund
Stein Roe High-Yield Municipals Fund
Supplement to Prospectus dated November 1, 1995
Effective February 1, 1996, the Telephone Redemption by Wire
Privilege, which is currently available to shareholders of Municipal
Money Market Fund, described on pages 29 and 33 of this prospectus,
is now available for shareholders of all Funds. The Privilege
permits you to request a redemption from your Fund account by phone
and have the proceeds wired to your account at a commercial bank,
previously designated by you, that is a member of the Federal
Reserve System. The wire fee (currently $3.50 per transaction) will
be deducted from the amount wired. If you also establish the
Electronic Transfer Privilege, the bank account that you designate
for both Privileges must be the same. There is a $1,000 minimum and
a $100,000 maximum amount on each Telephone Redemption by Wire for
shareholders of Intermediate Municipals Fund, Managed Municipals
Fund, and High-Yield Municipals Fund.
The Date of this Supplement is February 1, 1996
