File No. 33-11351
Rule No. 497(e)
STEIN ROE INVESTMENT TRUST
Stein Roe Capital Opportunities Fund
Supplement to Prospectus dated July 1, 1996
CLOSING THE FUND
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STEIN ROE CAPITAL OPPORTUNITIES FUND (THE "FUND") IS NOW CLOSED TO
PURCHASES (INCLUDING EXCHANGES) BY NEW INVESTORS except for
purchases by eligible investors as described below. The Fund has
taken this step to facilitate management of the Fund's portfolio.
IF YOU ARE ALREADY A SHAREHOLDER OF THE FUND, YOU MAY CONTINUE TO
ADD TO YOUR ACCOUNT OR OPEN ANOTHER ACCOUNT WITH THE FUND IN YOUR
NAME.
In addition, you may open a new account if:
- - you participate in Stein Roe Counselor [service mark], Stein Roe
Counselor Preferred [service mark], or Stein Roe Personal
Counselor [service mark] or another investment advisory service
sponsored by the Fund's investment adviser, Stein Roe & Farnham
Incorporated (the "Adviser");
- - you are a trustee of Stein Roe Investment Trust; an employee of
the Adviser, or any of its affiliated companies; or a member of
the immediate family of any trustee or employee;
- - you are a client of the Adviser and, in the judgment of the
Adviser, your proposed investment in the Fund would not
adversely affect the Adviser's ability to manage the Fund
effectively;
- - you purchased shares under an asset allocation program sponsored
by a financial advisor, broker-dealer, bank, trust company, or
other intermediary under an investment program with the Fund as
of the date of this supplement;
- - you are a prospective retail shareholder* who requested and
received a prospectus directly from the Fund between July 30,
1996 and September 30, 1996, and you open your account by
November 15, 1996; or
- - you purchase shares for an individual retirement account or an
employee benefit plan, the records for which are maintained by a
trust company or plan administrator under an investment program
with the Fund as of the date of this supplement.
The Board of Trustees of Stein Roe Investment Trust concluded that
permitting the additional investments described above would not
adversely affect the ability of the Adviser to manage the Fund
effectively.
If you have questions about your eligibility to purchase shares of
the Fund, please call 800-338-2550.
*Retail shareholders generally are limited to individuals,
personal trusts, and non-retirement corporate and partnership
accounts.
This Supplement is Dated September 30, 1996
