File No. 33-11351
Rule 497(e)
<PAGE>
STEIN ROE INVESTMENT TRUST
Stein Roe Special Fund
Stein Roe Special Venture Fund
Supplement to February 3, 1997 Prospectus
_____________________
Bruce Dunn, 62, co-portfolio manager of SR&F Special
Portfolio and SR&F Special Venture Portfolio, has announced
his intention to retire as portfolio manager of the Funds on
June 30, 1997, after 32 years of valuable service to Stein
Roe & Farnham Incorporated. Stein Roe & Farnham Incorporated
is actively seeking a replacement for Mr. Dunn. In the
interim, Richard Peterson will continue to manage the Funds.
Mr. Peterson has co-managed Special Fund and Special Venture
Fund with Mr. Dunn since 1991 and 1994, respectively.
This Supplement is Dated March 12, 1997
<PAGE>
STEIN ROE INVESTMENT TRUST
Stein Roe Special Fund
Supplement to February 3, 1997 Defined
Contribution Plans Prospectus
_____________________
Bruce Dunn, 62, co-portfolio manager of SR&F Special
Portfolio, has announced his intention to retire as portfolio
manager of the Fund on June 30, 1997, after 32 years of
valuable service to Stein Roe & Farnham Incorporated. Stein
Roe & Farnham Incorporated is actively seeking a replacement
for Mr. Dunn. In the interim, Richard Peterson will continue
to manage the Fund. Mr. Peterson has co-managed Special Fund
with Mr. Dunn since 1991.
This Supplement is Dated March 12, 1997
<PAGE>
STEIN ROE INVESTMENT TRUST
Stein Roe Special Venture Fund
Supplement to February 3, 1997 Defined
Contribution Plans Prospectus
_____________________
Bruce Dunn, 62, co-portfolio manager of SR&F Special
Venture Portfolio, has announced his intention to retire as
portfolio manager of the Fund on June 30, 1997, after 32
years of valuable service to Stein Roe & Farnham
Incorporated. Stein Roe & Farnham Incorporated is actively
seeking a replacement for Mr. Dunn. In the interim, Richard
Peterson will continue to manage the Fund. Mr. Peterson has
co-managed Special Venture Fund with Mr. Dunn since 1994.
This Supplement is Dated March 12, 1997
