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SUPPLEMENT TO THE STATEMENTS OF ADDITIONAL INFORMATION
("SAI")
LIBERTY MIDCAP GROWTH FUND CLASS A,B,C AND Z
LIBERTY CAPITAL OPPORTUNITIES FUND CLASS A
LIBERTY FOCUS FUND CLASS A
LIBERTY SMALL COMPANY GROWTH FUND CLASS A
The section of the SAI entitled "INVESTMENT ADVISORY and OTHER SERVICES" is
supplemented as follows:
On November 1, 2000, Liberty Financial announced that it had retained CS First
Boston to help it explore strategic alternatives, including the possible sale of
Liberty Financial.
November 1, 2000
G-35/802D-1100
