File No. 33-11351
Rule 497(e)
STEIN ROE INVESTMENT TRUST
Stein Roe Young Investor Fund
Supplement to Prospectus Dated July 1, 1996
The trustees of Stein Roe Investment Trust have voted to
convert the Stein Roe Young Investor Fund into a "feeder" fund on
October 1, 1996, by investing all of its assets in shares of SR&F
Growth Investor Portfolio, the "master" fund, which has an
identical investment objective to that of the Fund. (Please refer
to Risks and Investment Considerations--Master/Feeder Option in
the prospectus.) SR&F Growth Investor Portfolio is a series of
the SR&F Base Trust. As a result of this conversion, the
management contract with Stein Roe & Farnham Incorporated ("Stein
Roe") relating to Young Investor Fund will be replaced with a new
management contract between Base Trust and Stein Roe for the
management of the portfolio securities at the master fund level.
The date of this Supplement is July 29, 1996.
