Stein Roe Mutual Funds
Rule 12b-1 Distribution Plan
Each Massachusetts Business Trust (Trust) designated in Appendix 1 as
revised from time to time, acting severally, adopts as of August 3, 1999, the
following distribution plan (the Plan) pursuant to Rule 12b-1 (the Rule) under
the Investment Company Act of 1940 (Act) on behalf of each Fund in that Trust
for the purpose of providing personal service and/or the maintenance of
shareholder accounts and to facilitate the distribution of shares of the Funds.
I. Plans Applying to Class A, B and C Shares
Each Fund having Class A, B or C Shares shall pay a service fee at the
annual rate of 0.25% of the net assets of its Class A, B and C Shares, and a
distribution fee at the annual rate of 0.10% of the average daily net assets of
its Class A Shares and 0.75% of the average daily net assets of its Class B and
C Shares.
II. Payments of Fees Under the Plan
Each Fund shall make all payments of service and distribution fees under
this Plan to Liberty Funds Distributor, Inc. (LFDI) monthly, on the 20th day of
each month or, if such day is not a business day, on the next business day
thereafter. No Fund shall pay, nor shall LFDI be entitled to receive, any amount
under this Plan if such payment would result in LFDI receiving amounts in excess
of those permitted by applicable law or by rules of the National Association of
Securities Dealers, Inc.
III. Use of Fees.
LFDI may pay part or all of the service and distribution fees it receives
from a Fund as commissions to financial service firms that sell Fund Shares or
as reimbursements to financial service firms or other entities that provide
shareholder services to record or beneficial owners of shares (including
third-party administrators of qualified plans). This provision does not obligate
LFDI to make any such payments nor limit the use that LFDI may make of the fees
it receives.
IV. Reporting
LFDI shall provide to the Trust's Trustees, and the Trustees shall review,
at least quarterly, reports setting forth all Plan expenditures, and the
purposes for those expenditures. Amounts payable under this paragraph are
subject to any limitations on such amounts prescribed by applicable laws or
rules.
V. Other Payments Authorized
Payments by the Trust to LFDI and its affiliates other than as set forth in
Section I which may be indirect financing of distribution costs are authorized
by this Plan.
VI. Continuation; Amendment; Termination
This Plan shall continue in effect with respect to a Class of Shares only
so long as specifically approved for that Class at least annually as provided in
the Rule. The Plan may not be amended to increase materially the service fee or
distribution fee with respect to a Class of Shares without such shareholder
approval as is required by the Rule and any applicable orders of the Securities
and Exchange Commission, and all material amendments of the Plan must be
approved in the manner described in the Rule. The Plan may be terminated with
respect to any Class of Shares at any time as provided in the Rule without
payment of any penalty. The continuance of the Plan shall be effective only if
the selection and nomination of the Trust's Trustees who are not interested
persons (as defined under the Act) of the Trust is effected by such
non-interested Trustees as required by the Rule.
Approved by the Trustees as of the date set forth
above:
By: HEIDI J. WALTER
Heidi J. Walter, Secretary For Each
Trust
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APPENDIX 1
Stein Roe Investment Trust Stein Roe International Fund Stein Roe Growth &
Income Fund Stein Roe Balanced Fund Stein Roe Growth Stock Fund Stein Roe
Disciplined Stock Fund Stein Roe Young Investor Fund Stein Roe Growth
Investor Fund Stein Roe Capital Opportunities Fund Stein Roe Midcap Growth
Fund Stein Roe Small Company Growth Fund Stein Roe Asia Pacific Fund Stein
Roe Large Company Focus Fund Stein Roe Global Thematic Equity Fund
Stein Roe European Thematic Equity Fund
Stein Roe Income Trust
Stein Roe Income Fund
Stein Roe Intermediate Bond Fund
Stein Roe High Yield Fund
Stein Roe Cash Reserves Fund
Stein Roe Municipal Trust
Stein Roe Intermediate Municipals Fund
Stein Roe Managed Municipals Fund
Stein Roe High-Yield Municipals Fund
Stein Roe Municipal Money Market Fund
Stein Roe Advisor Floating Rate Fund
January 2, 2001
