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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 February 2, 1998 Statement of Additional Information
The following is hereby added to the section of the Statement
of Additional Information entitled Purchases and Redemptions:
"Purchases Through Third Parties. You may purchase (or
redeem) shares through certain broker-dealers, banks, or other
intermediaries ("Intermediaries"). These Intermediaries may
charge for their services or place limitations on the extent to
which you may use the services offered by Municipal Trust. There
are no charges or limitations imposed by Municipal Trust, other
than those described in the prospectus, if shares are purchased
(or redeemed) directly from Municipal Trust.
"Some Intermediaries that maintain nominee accounts with the
Funds for their clients for whom they hold Fund shares charge an
annual fee of up to 0.35% of the average net assets held in such
accounts for accounting, servicing, and distribution services they
provide with respect to the underlying Fund shares. The Adviser
and the Funds' transfer agent share in the expense of these fees,
and the Adviser pays all sales and promotional expenses."
This Supplement is Dated July 1, 1998
