NEWPORT TIGER FUND
Class Z Shares
Supplement to Prospectus dated May 1, 2000
The prospectus of the Fund is 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.
732-36/394B-0500 May 1, 2000
