Change in Independent Accountants
Based on the recommendation of the Audit Committee of SteinRoe Variable
Investment Trust, on August 3, 1999 the Board of Trustees determined not to
retain KPMG LLP's as the Fund's independent accountant and voted to appoint
PricewaterhouseCoopers LLP as independent accountants for the year ended
December 31,1999. During the two most recent fiscal years, KPMG LLP's audit
reports contained no adverse opinion or disclaimer of opinion; nor were its
reports qualified or modified as to uncertainty, audit scope, or accounting
principle. There were no disagreements in accounting principles or practices,
financial statement disclosure or auditing scope or procedure, which if not
resolved to the satisfaction of KPMG LLP would have caused it to make reference
to the disagreement in its report on the financial statements for such years or
through August 3, 1999.
