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Stein Roe Special Venture Fund
a series of Stein Roe Investment Trust
Supplement to Prospectus dated February 2, 1998
Effective October 7, 1998, the portfolio managers for Stein Roe
Special Venture Fund are James P. Haynie and Michael Rega, who are
jointly employed by Colonial Management Associates, Inc. ("CMA")
and Stein Roe & Farnham Incorporated (each of which is an indirect
wholly owned subsidiary of Liberty Financial Companies, Inc.).
Mr. Haynie has managed or co-managed the Colonial Small Cap Value
Fund since 1993. Mr. Rega has been employed by CMA as an analyst
since 1993 and has co-managed the Colonial Small Cap Value Fund
and another Colonial equity fund since 1996.
The Adviser utilizes the trading facilities of CMA to place all
orders for the purchase and sale of portfolio securities for the
Fund. In selecting broker-dealers, the Adviser may direct CMA to
consider research and brokerage services furnished to the Adviser.
This Supplement is Dated October 7, 1998
