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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001068200-99-000001.txt : 19990426
<SEC-HEADER>0001068200-99-000001.hdr.sgml : 19990426
ACCESSION NUMBER:		0001068200-99-000001
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19990423

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STEIN ROE FLOATING RATE INCOME FUND
		CENTRAL INDEX KEY:			0001068200
		STANDARD INDUSTRIAL CLASSIFICATION:	 []
		IRS NUMBER:				364251182
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		
		SEC FILE NUMBER:	333-61751
		FILM NUMBER:		99599601

	BUSINESS ADDRESS:	
		STREET 1:		ONE S WACKER DR
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3123687845

	MAIL ADDRESS:	
		STREET 1:		ONE S WACKER DR
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	STEIN ROE FLOATING RATE INCOME TRUST
		DATE OF NAME CHANGE:	19980929
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<TEXT>

              STEIN ROE FLOATING RATE INCOME FUND

            Supplement to Nov. 20, 1998 Prospectus


     Effective April 23, 1999, Liberty Funds Distributor, Inc., 
One Financial Center, Boston, MA 02111, is the distributor of the 
shares of Stein Roe Floating Rate Income Fund.  Liberty Funds 
Distributor, Inc., is a subsidiary of Liberty Financial Companies, 
Inc.

            This Supplement is Dated April 23, 1999


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----