May 4, 2000
SECURITIES AND EXCHANGE COMMISSION
Judiciary Plaza
450 Fifth St., N.W.
Washington, DC 20549
RE:Liberty-Stein Roe Funds Municipal Trust File Nos:(2-99356)(811-4367)
Stein Roe Intermediate Municipals Fund
Dear Sir/Madam:
Pursuant to the requirements of Rule 497(e), submitted for filing via
EDGAR is the form of Prospectus Supplement dated May 4, 2000, which is
now being used in connection with the public offering and sale of
shares of the Stein Roe Intermediate Municipals Fund (the "Fund").
Please be advised that the Statement of Additional Information and
Annual Report (each of which was filed via EDGAR) of the Fund have not
been revised since the date of the last filing.
Sincerely,
Liberty-Stein Roe Funds Municipal Trust
Suzan Barron
Assistant Secretary
Enclosures
CC: Cameron Avery, Bell, Boyd & Lloyd
J. DiMaria, (PWC)
William Loring
Deborah Smith (2)
Blue Sky
Marlys Jarstfer (2)
Stein Roe Intermediate Municipals Fund
a series of Liberty-Stein Roe Funds Municipal Trust
Supplement to Prospectus dated November 1, 1999
------------------------
Effective May 1, 2000, the Fund's Prospectus is amended as follows:
William C. Loring has replaced Joanne T. Costopoulos as Portfolio
Manager of the Fund.
As a result, the caption PORTFOLIO MANAGERS is revised as follows:
William C. Loring joined Stein Roe in November 1998 as a co-portfolio
manager of the Stein Roe Managed Municipals Fund. Since 1986, he has managed
various other Colonial tax-exempt funds including the Colonial Tax-Exempt Fund
since May 1997 and the Colonial Intermediate Tax-Exempt Fund since 1993. Mr.
Loring is jointly employed as a senior vice president by both Colonial and Stein
Roe and has a bachelor's degree from Bowdoin College.
May 4, 2000
Job Code SO-36/307B0500
