All shareholders of ------------------------------
Newport Tiger Fund were TO
mailed a proxy beginning
on September 10, 1998. ------------------------------
FAX NUMBER
------------------------------
FROM
------------------------------
PHONE NUMBER
SHAREHOLDERS ASKED TO VOTE BY THE MEETING DATE: 10/30/98
THE PROPOSALS ARE AS FOLLOWS:
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PROPOSAL WHAT APPROVAL OF THE PROPOSAL WOULD MEAN
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To elect a Board of Trustees. Nine individuals comprise the existing Board of Trustees. This proposal covers
re-election for the current Trustees and nominates four new Trustees.
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To amend the fundamental investment If approved, this proposal would allow for the establishment of an interfund
policies regarding borrowing and lending program. Under this program, the Fund could lend or borrow money to or from
lending. another affiliated fund more cost-effectively than it could through a bank to meet
short-term needs.
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To approve changes to fundamental The Fund's fundamental investment policies can only be changed by shareholder vote.
investment policies. Under this proposal, several investment policies would be modified, but would
remain fundamental. Several policies would be reclassified as non-fundamental
policies and could be modified without shareholder approval and other fundamental
policies would be eliminated. This would give the Fund's managers and Trustees
greater flexibility in managing the Fund. The Trustees do not currently anticipate
that these changes, individually or in the aggregate, will result in a change in
the management of the Fund.
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To amend and restate the Agreement and This proposal is designed to modify the Trust agreement so that the organizational
Declaration of Trust. documents for the Colonial Mutual Funds family are generally all standard. The
proposed changes should not have any material impact on the operation or portfolio
management of the Fund.
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To approve policies for a master If this proposal is approved, it would allow for the conversion of the Fund to a
fund/feeder fund structure. master fund/feeder fund structure, provided that the Board of Trustees believes the
conversion is in the Fund's best interests. There are currently no plans to convert
the Fund to this structure. The conversion would provide the Fund with additional
distribution channels and could increase cost efficiencies. Approval of this
proposal could eliminate future conversion expenses for shareholders.
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Voting methods: Internet, mail, in person and in some instances, by fax.The
above proposals are summaries of proposals found on the proxy statement. Please
read the proxy statement carefully for a full description of the above
proposals. Complete copies of the proxies may be viewed on our Web site:
www.libertyfunds.com
For more information, call a Liberty Funds Distributor Sales Specialist at
1-800-426-3750.
[Liberty logo]
COLONIAL FUNDS [bullet] STEIN ROE ADVISOR FUNDS [bullet] NEWPORT FUNDS
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Liberty Funds Distributor, Inc. (C)1998
One Financial Center, Boston, MA 02111-2621, 1-800-426-3750 For Investment Professional Use Only.
Visit us at www.libertyfunds.com NT-056G-1098 (10/98)
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