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CRABBE HUSON FUNDS
THE CRABBE HUSON SPECIAL FUND, INC.
CRABBE HUSON SMALL CAP FUND
CRABBE HUSON REAL ESTATE INVESTMENT FUND
CRABBE HUSON EQUITY FUND
CRABBE HUSON ASSET ALLOCATION FUND
CRABBE HUSON INCOME FUND
CRABBE HUSON OREGON TAX-FREE FUND
CRABBE HUSON U.S. GOVERNMENT INCOME FUND
CRABBE HUSON U.S. GOVERNMENT MONEY MARKET FUND
SUPPLEMENT TO THE MARCH 1, 1998 PROSPECTUS
A special meeting of the shareholders of the Crabbe Huson Special Fund (the
"Special Fund") was held at 3:00 p.m. on October 15, 1998 for the purpose of
approving or disapproving an Agreement and Plan of Reorganization. The
Special Fund did not receive at the meeting a sufficient number of
shareholder votes to either approve or disapprove the Agreement and Plan of
Reorganization. Therefore, the meeting was adjourned until 3:00 p.m. (Pacific
Time) on November 13, 1998 at the corporate offices of Crabbe Huson Group,
Inc., 121 S.W. Morrison, Suite 1400, Portland, Oregon.
Until further notice, shares of the Special Fund are not available for
purchase, except that additional purchases may be made by certain existing
retirement group plans and wrap fee programs. The Special Fund has changed
its transfer agent to Liberty Funds Services, Inc. and its distributor to
Liberty Funds Distributor, Inc.
On October 19, 1998, each of the other Crabbe Huson Funds reorganized or
merged into a Colonial trust pursuant to an Agreement and Plan of
Reorganization. As a result, such Funds have been liquidated and dissolved
and are not offered through this prospectus.
THIS SUPPLEMENT IS DATED OCTOBER 19, 1998
