Stein Roe Emerging Markets Fund
a series of Stein Roe Investment Trust
Supplement to Prospectus dated Feb. 2, 1998
(as previously supplemented on Nov. 5, 1998)
As previously announced, the Board of Trustees of Stein Roe
Investment Trust voted on Nov. 3, 1998, to liquidate Stein Roe
Emerging Markets Fund (the "Fund"). The Board directed that sales
of Fund shares be suspended as of Nov. 5, 1998, and that the Fund
be liquidated on Dec. 7, 1998. The liquidation of the Fund has
been delayed temporarily pending final liquidation of the Fund's
portfolio securities. The Fund will complete its liquidation as
soon as is practicable. The Adviser expects this temporary delay
to be brief.
As we previously informed shareholders, the Board's decision
to liquidate the Fund was prompted by the Fund's relatively small
size and the belief that, under current conditions, it would not
be likely to attract significant new assets in the near future.
Funds of nominal asset size generally tend to be inefficient for
shareholders-they may have higher expense ratios and less
investment flexibility and, consequently, lower returns over the
long term.
This Supplement is Dated Dec. 9, 1998
