STEIN ROE INVESTMENT TRUST
Stein Roe Special Venture Fund
Supplement to Prospectus Dated Feb. 2, 1998
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Special Venture Portfolio emphasizes investments in
financially strong small- and medium-sized companies, based
principally on appraisal of their management and stock valuations.
The Adviser considers "small" companies to be those with market
capitalizations of less than $1 billion and "medium-sized"
companies to track the definition used by Lipper Analytical
Services, Inc. which is currently $1 to $5 billion. (See
Investment Policies.)
This Supplement is Dated Aug. 24, 1998
