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COLUMBIA
CMC SMALL CAP FUND
CMC INTERNATIONAL STOCK FUND
PORTFOLIOS OF CMC FUND TRUST
SUPPLEMENT TO THE PROSPECTUS DATED DECEMBER 19, 1995
As disclosed in the Prospectus, each Fund may invest in exchange-traded put
and call options. To clarify the restrictions on the writing of call
options, the last three sentences under "Options and Financial Futures
Transactions" on page 14 of the Prospectus have been revised to read as
follows: *
"A Fund may only write call options on securities or securities indices
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that are covered. A call option on a security is covered if written on a
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security the Fund owns or if the Fund has an absolute and immediate right
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to acquire that security without additional cash consideration upon
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conversion or exchange of other securities held by the Fund. If additional
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cash consideration is required, that amount will be held in a segregated
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account by the Fund's custodian bank. A call option on a securities index
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is covered if the Fund owns securities whose price changes, in the opinion
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of the Advisor, are expected to be substantially similar to those of the
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index. Call options may also be covered in any other manner in accordance
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with the rules of the exchange on which the option is traded and applicable
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laws and regulations. Each Fund may write such options on up to 25 percent
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of its net assets."
June 25, 1996
* New language is underlined.
