COLONIAL INTERMEDIATE TAX-
EXEMPT FUND
Supplement to Prospectus dated
March 30, 1995
Through July 31, 1995, the
Adviser waived its fees and
reimbursed the Fund for all
expenses (exclusive of Rule
12b-1 fees, brokerage
commissions, interest, taxes
and extraordinary expenses, if
any). Effective August 1,
1995, and until further notice,
the Adviser is waiving fees and
reimbursing expenses (other
than the foregoing expenses)
only to the extent such
expenses otherwise would exceed
0.40% annually of average net
assets.
IM-36/277B-0995 September 27, 1995
