COLONIAL MICHIGAN TAX-EXEMPT
FUND
Supplement to Prospectus dated
May 31, 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) to the extent such
expenses did not exceed 0.60%
annually of average net assets.
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
0.75% annually of average net
assets.
MI-36/267B-0995 September 27, 1995
