NEWPORT TIGER CUB FUND
CLASS Z SHARES
SUPPLEMENT TO PROSPECTUS DATED NOVEMBER 30, 1998
At a meeting of the Fund's Board of Trustees on October 27, 1999, the Fund's
Trustees approved a plan to redesignate Class Z shares as Class S shares.
For the period from November 19, 1999 through January 15, 2000, the Fund's Class
Z shares will not be available to new accounts. Shareholders of the Fund on
November 19, 1999 may continue to buy shares in accounts existing on that date.
Investors who did not own shares of the Fund on November 19, 1999 generally
will not be allowed to buy shares of the Fund except that new accounts may be
established by participants in most group employer retirement plans (and their
successor plans) in which the Fund had been established as an investment option
by November 19, 1999. Investors may be required to demonstrate eligibility to
buy shares of the Fund before an investment is accepted.
On January 15, 2000, remaining Class Z shares will convert to Class S shares.
The new Class S will be open to new investors as well as additional purchases by
newly converted Class S shareholders. Class S shares will be exchangeable with
other Class S shares only.
Effective September 30, 1999, Ernst & Young LLP, located at 200 Clarendon
Street, Boston, Massachusetts 02116, became the Fund's independent accountants,
replacing PricewaterhouseCoopers LLP.
Effective April 1, 1999, Colonial Trust II changed its name to Liberty Funds
Trust II.
CF-36/052I-1099 November 1, 1999
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NEWPORT TIGER CUB FUND
CLASS A, B AND C SHARES
SUPPLEMENT TO PROSPECTUS DATED NOVEMBER 30, 1998
Effective the close of business on November 19, 1999, the Fund's Class A, B and
C shares are no longer available to new accounts. Shareholders of the Fund on
that date may continue to buy shares in accounts existing on that date.
Investors who did not own shares of the Fund on November 19, 1999 generally will
not be allowed to buy shares of the Fund except that new accounts may be
established by participants in most group employer retirement plans (and their
successor plans) in which the Fund had been established as an investment option
by November 19, 1999. Investors may be required to demonstrate eligibility to
buy shares of the Fund before an investment is accepted.
Effective September 30, 1999, Ernst & Young LLP, located at 200 Clarendon
Street, Boston, Massachusetts 02116, became the Fund's independent accountants,
replacing PricewaterhouseCoopers LLP.
Effective April 1, 1999, Colonial Trust II changed its name to Liberty Funds
Trust II.
CF-36/051I-1099 November 1, 1999
