File No. 33-02633
Rule 497(e)
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Stein Roe
Government Income Fund
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A series of Stein Roe Income Trust
Supplement to Prospectus
Dated Nov. 1, 1996
The Board of Trustees of Stein Roe Income Trust voted on
Sept. 18, 1997, to liquidate Stein Roe Government Income Fund
(the "Fund"). The Board directed that sales of Fund shares
be suspended as of Sept. 22, 1997, and that distribution to
remaining shareholders be made on Oct. 17, 1997.
The Board's decision to liquidate the Fund was prompted by
the Fund's relatively small size and the belief that, given
current conditions, it would not be likely to attract
significant new assets in the near future. Funds of nominal
asset size generally tend to be inefficient for shareholders--
they may have higher expense ratios and less investment
flexibility and, consequently, lower returns over the long
term.
This Supplement is Dated Sept. 22, 1997
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Stein Roe
Government Reserves Fund
__________________________________
A series of Stein Roe Income Trust
Supplement to Prospectus
Dated Nov. 1, 1996
The Board of Trustees of Stein Roe Income Trust voted on
Sept. 18, 1997 to liquidate Stein Roe Government Reserves
Fund (the "Fund"). The Board directed that sales of Fund
shares be suspended as of Sept. 22, 1997, and that
distribution to remaining shareholders be made on Oct. 17,
1997. In addition, all checks written on a Fund account that
are outstanding as of Oct. 17, 1997 will be returned to the
payee indicating that the account has been closed.
The Board's decision to liquidate the Fund was prompted by
the Fund's relatively small size and the belief that, given
current conditions, it would not be likely to attract
significant new assets in the near future. Funds of nominal
asset size generally tend to be inefficient for shareholders--
they may have higher expense ratios and less investment
flexibility and, consequently, lower returns over the long
term.
This Supplement is Dated Sept. 22, 1997
