File No. 33-02633
Rule 497(e)
STEIN ROE INCOME TRUST
Stein Roe Income Fund
Stein Roe High Yield Fund
Supplement to Prospectus Dated November 1, 1996
_________________________
Stephen F. Lockman was named portfolio manager of Stein
Roe Income Fund and SR&F High Yield Portfolio on March 3,
1997.
Associate portfolio manager of Income Fund since October
1995 and of High Yield Portfolio since its inception in
November 1996, Mr. Lockman joined the Adviser in January
1994. As a senior research analyst for the Adviser's fixed
income department from 1994 to 1997, Mr. Lockman has broad
expertise in the fixed income markets, with specialties in
the high yield sector and the aerospace, broadcasting,
entertainment, insurance, mining/metals, paper/forest
products, printing, publishing and real estate industries.
In addition, he served as the fixed income department's
sovereign debt analyst from 1994 to 1997, evaluating
securities for its more than $1 billion portfolio of dollar-
denominated foreign investments. Mr. Lockman previously
served as portfolio manager for the Illinois State Board of
Investment from 1987 to 1994, and as a trust investment
officer for LaSalle National Bank from 1983 to 1987. A
chartered financial analyst, Mr. Lockman earned a bachelor's
degree in 1983 from the University of Illinois and a master's
degree in 1986 from DePaul University.
This Supplement is Dated March 4, 1997
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STEIN ROE INCOME TRUST
Stein Roe Income Fund
Supplement to Defined Contribution Plans Prospectus
Dated November 1, 1996
_________________________
Stephen F. Lockman was named portfolio manager of Stein
Roe Income Fund on March 3, 1997.
Associate portfolio manager of Income Fund since October
1995, Mr. Lockman joined the Adviser in January 1994. As a
senior research analyst for the Adviser's fixed income
department from 1994 to 1997, Mr. Lockman has broad expertise
in the fixed income markets, with specialties in the high
yield sector and the aerospace, broadcasting, entertainment,
insurance, mining/metals, paper/forest products, printing,
publishing and real estate industries. In addition, he
served as the fixed income department's sovereign debt
analyst from 1994 to 1997, evaluating securities for its more
than $1 billion portfolio of dollar-denominated foreign
investments. Mr. Lockman previously served as portfolio
manager for the Illinois State Board of Investment from 1987
to 1994, and as a trust investment officer for LaSalle
National Bank from 1983 to 1987. A chartered financial
analyst, Mr. Lockman earned a bachelor's degree in 1983 from
the University of Illinois and a master's degree in 1986 from
DePaul University.
This Supplement is Dated March 4, 1997
