File No. 33-11351
Rule 497(e)
STEIN ROE INVESTMENT TRUST
Stein Roe Young Investor Fund
Supplement to February 3, 1997, Prospectus
_______________
Portfolio Manager Change. Arthur J. McQueen has stepped
down as co-portfolio manager of Stein Roe Young Investor Fund
effective May 9, 1997, in order to devote more time to
managing another Stein Roe Mutual Fund. Young Investor Fund
will continue to be co-managed by Erik Gustafson and David
Brady.
Shareholder Communications. Effective immediately, to
reduce the volume of mail you receive, only one copy of
certain materials, such as prospectuses and shareholder
reports, will be mailed to your household (same address).
Please call 800-338-2550 if you wish to receive additional
copies, free of charge. This policy may not apply if you
purchased shares through an Intermediary.
This Supplement is Dated May 9, 1997
