CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
We consent to the references to our firm under the captions "Financial
Highlights" for Stein Roe Intermediate Bond Fund, Stein Roe Income Fund and
Stein Roe High Yield Fund (three of the series comprising Liberty-Stein Roe
Funds Income Trust, formerly, Stein Roe Income Trust) in the Liberty
Intermediate Bond Fund Class A, Liberty Income Fund Class A and Liberty High
Yield Bond Fund Class A Prospectuses and "Independent Auditors" in the
Liberty-Stein Roe Funds Income Trust Statement of Additional Information and to
the incorporation by reference in Post-Effective Amendment Number 41 to the
Registration Statement (Form N-1A, No. 33-02633) of our reports dated August 11,
1999 on the financial statements and financial highlights of Stein Roe
Intermediate Bond Fund, Stein Roe Income Fund and Stein Roe High Yield Fund and
SR&F Intermediate Bond Portfolio, SR&F Income Portfolio and SR&F High Yield
Portfolio (three of the series comprising SR&F Base Trust) included in the Stein
Roe Mutual Funds Annual Report dated June 30, 1999.
ERNST & YOUNG LLP
Boston, Massachusetts
July 26, 2000
