File No. 33-11351
Rule 497(e)
STEIN ROE GROWTH INVESTOR FUND
A SERIES OF STEIN ROE INVESTMENT TRUST
SUPPLEMENT TO PROSPECTUS DATED MARCH 31, 1999
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As of November 15, 1999, the current shares of Stein Roe Growth
Investor Fund (the "Fund") will be redesignated Class S shares.
Each share of the Fund outstanding on that date will thereafter be
a Class S share of the Fund. Like the existing shares from which
they are being converted, these Class S shares are no-load shares
carrying no sales charge or 12b-1 fee.
As of the close of business October 31, 1999, the shares of the
Fund to be designated Class S shares will no longer be available
for purchase by new investors except for purchases by eligible
investors as described below.
If you are already a shareholder of the Fund, you may continue to
purchase additional Class S shares of the Fund for your account or
you may open another Class S share account with the Fund.
In addition, you may open a new Class S share account if:
* as of October 31, 1999, you are a shareholder of any other Stein
Roe Fund, having purchased shares directly from Stein Roe, and
you are opening a new account by exchange or by dividend
reinvestment as described in the prospectus;
* you are a client of the Fund's investment adviser, Stein Roe &
Farnham Incorporated;
* you purchase shares (i) under an asset allocation program
sponsored by a financial advisor, broker-dealer, bank, trust
company or other intermediary or (ii) from certain financial
advisors who charge a fee for services and who, as of October
31, 1999, held shares of Growth Investor Fund for its clients;
or
* you purchase shares for an employee benefit plan whose records
are maintained by a trust company or plan administrator under an
investment program that included Growth Investor Fund on October
31, 1999.
If you have questions about your eligibility to purchase shares of
the Fund, please call 800-338-2550.
This Supplement is Dated August 30, 1999
