File No. 33-11351
Rule 497(e)
STEIN ROE ADVISOR SELECT GROWTH & INCOME FUND
STEIN ROE ADVISOR GROWTH INVESTOR FUND
Class A, B, and C shares
Supplement to the Prospectus Dated November 22, 1999
The following information supplements the information in the Sales
Charges section of the Prospectus of each Fund:
The contingent deferred sales charges (CDSCs) for larger
purchases of Class B shares of the Funds through participating
financial advisor firms are being reduced, effective February 1,
2000, as follows:
* The reductions apply only to Class B shares purchased on or
after February 1, 2000.
* The reductions apply only to customers of financial advisor
firms that have elected to participate in these reductions.
(Some financial advisor firms are not able to participate
because their record keeping or transaction processing
systems are not designed to accommodate these reductions.)
Consult your financial advisor to see whether it participates
in these reductions.
The CDSC, the holding period between your purchase of shares and
the automatic conversion of those shares to Class A shares, and
the commission the Funds' distributor pays to your financial
advisor firm when you buy the shares will be as follows:
Purchases of less than $250,000
Holding period after purchase CDSC as % deducted
when shares sold
- --------------------------------------------------------
Through first year 5.00
Through second year 4.00
Through third year 3.00
Through fourth year 3.00
Through fifth year 2.00
Through sixth year 1.00
Longer than six years 0.00
Commission to the financial advisor: 5%
Automatic conversion to Class A shares: 8 years after purchase
Purchases of $250,000 to less than $500,000
Holding period after purchase CDSC as % deducted
when shares sold
- --------------------------------------------------------
Through first year 3.00
Through second year 2.00
Through third year 1.00
Longer than four years 0.00
Commission to financial advisor: 2.50%
Automatic conversion to Class A shares: 4 years after purchase
Purchases of $500,000 to less than $1 million
Holding period after purchase CDSC as % deducted
when shares sold
- --------------------------------------------------------
Through first year 3.00
Through second year 2.00
Through third year 1.00
Longer than four years 0.00
Commission to financial advisor: 1.75%
Automatic conversion to Class A shares: 3 years after purchase
For purchases through financial advisor firms that do not
participate in the Class B discount program, the CDSC, conversion
period and commission to the financial advisor will continue to be
as described in the Prospectus.
If your financial advisor firm participates in the discount
program, purchases of over $1 million can be made only in Class A
or Class C shares. If your financial advisor firm does not
participate in the Class B discount program, purchases of more
than $250,000 but less than $1 million can be made only in Class A
or Class C shares.
If a shareholder exchanges from any Fund not participating in this
Class B purchase program into any other Fund which does so
participate, or transfers any Fund account from a financial
advisor firm that does not participate in the Class B discount
program to a financial advisor firm that does participate, the
exchanged or transferred shares will retain their pre-existing
CDSC and conversion schedule, but additional purchases of shares
which cause the exchanged or transferred Fund account to exceed
the applicable discount level will receive the lower CDSC and
reduced holding period for amounts exceeding the discount level
and the financial advisor firm will receive the lower commission.
An additional way shareholders can pay a lower CDSC and be subject
to the applicable reduced holding period when purchasing Class B
shares through participating financial advisor firms is through
Rights of Accumulation. If the combined value of the Fund
accounts maintained by a shareholder, the shareholder's spouse and
minor children reaches a discount level, any additional shares
purchased in any of the accounts will be subject to the applicable
lower CDSC and reduced holding period.
*****************
February 1, 2000
