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SUPPLEMENT TO THE STATEMENTS OF ADDITIONAL INFORMATION
("SAI")
Stein Roe Asia Pacific Fund
Stein Roe Balanced Fund
Stein Roe Capital Opportunities Fund
Stein Roe Disciplined Stock Fund
Stein Roe International Fund
Stein Roe Focus Fund
Stein Roe Midcap Growth Fund
Stein Roe Small Company Growth Fund
Stein Roe Young Investor Fund
Stein Roe Intermediate Bond Fund
Stein Roe Income Fund
Stein Roe High Yield Fund
Stein Roe Cash Reserves Fund
Stein Roe High Yield Municipals Fund
Stein Roe Intermediate Municipals Fund
Stein Roe Municipal Money Market Fund
Stein Roe Managed Municipals Fund
Stein Roe Institutional Client High Yield Fund
Liberty Floating Rate Fund
Liberty-Stein Roe Institutional Floating Rate Income Fund
Liberty Young Investor Fund
Liberty Growth Stock Fund
Liberty Intermediate Bond Fund
Stein Roe Advisor High-Yield Municipals Fund
The section of the SAI entitled "INVESTMENT ADVISORY and OTHER SERVICES" is
supplemented as follows:
On November 1, 2000, Liberty Financial announced that it had retained CS First
Boston to help it explore strategic alternatives, including the possible sale of
Liberty Financial.
November 1, 2000
DIR-35/811D-1100
