LIBERTY ALL-STAR GROWTH AND INCOME FUND
Supplement to Statement of Additional Information
Dated March 17, 2000
The Fund's Statement of Additional Information is amended as follows:
The sixth paragraph under the section "INVESTMENT MANAGEMENT AND OTHER SERVICES
- General" is changed in its entirety as follows:
OpCap Advisors. OpCap Advisors, 1345 Avenue of the Americas, New York, New
York 10105, is a Delaware partnership and a majority-owned subsidiary of
Oppenheimer Capital, which in turn is an indirect wholly-owned subsidiary
of Allianz A.G. OpCap Advisors' principal executive officer is Kenneth M.
Poovey. As of March 31, 2000, OpCap Advisors managed over $45 billion in
assets.
707-35/947B-0600 June 27, 2000
