LIBERTY FLOATING RATE FUND
LIBERTY MIDCAP GROWTH FUND
LIBERTY VALUE OPPORTUITIES FUND
LIBERTY GROWTH INVESTOR FUND
Supplement to current Class Z share Prospectuses
Effective August 15, 2000, the Class Z share prospectuses of the above Funds are
amended to revise the categories of investors who are eligible to purchase Class
Z shares. The following investors are now eligible to purchase Class Z shares:
(i) clients of broker-dealers or registered investment advisors that both
recommend the purchase of Fund shares and charge such clients an asset-based
fee; (ii) a retirement plan (or the custodian for such plan) with aggregate plan
assets of at least $5 million at the time of purchase and which purchases shares
directly from Liberty Funds Distributor, Inc., the Funds' distributor or through
a third party broker-dealer; (iii) any insurance company, trust company or bank
purchasing shares for its own account; (iv) any endowment, investment company or
foundation and (v) clients of investment advisory affiliates of the distributor
provided that the clients meet certain criteria established by the distributor
and its affiliates. Initial purchases of Class Z shares are subject to a minimum
purchase amount of $100,000, except that purchases by retirement plans described
in clause (ii) above are not subject to any initial investment minimum. The
Funds reserve the right to change the investment minimums.
G-36/682C-0800 August 21, 2000
