STEIN ROE MUTUAL FUNDS Sensible Risks. Intelligent Investments. [service mark] September 14, 1999 BY EDGAR Attention: Filing Desk Investment Management Division Securities and Exchange Commission 450 Fifth Street, N.W. Washington, D.C. 20549 Re: Stein Roe Floating Rate Income Fund File Nos. 333-61751, 811-08953 Gentlemen: Request for Withdrawal Pursuant to Rule 477 of the Securities Act of 1933, we would like to withdraw post-effective amendment No. 1 to the registration statement on Form N-2 of Stein Roe Floating Rate Income Fund. Please withdraw accession number 0000809558-99-000076, form type 486APOS, filed August 31, 1999. Please call me at (312) 368-7845 if you have any questions. Sincerely, STEIN ROE FLOATING RATE INCOME FUND Heidi J. Walter Vice-President and Secretary HJW/ndp Stein Roe Mutual Funds One South Wacker Drive Chicago, IL 60606-4685 312.368.7700 Liberty Funds Distributor, Inc., Distributor