COLONIAL INTERNATIONAL EQUITY FUND
Supplement to Prospectus dated September 30, 1996
Effective January 24, 1997, Daniel Rie and Peter Wiley no
longer manage the Fund.
Gita Rao, Vice President of the Adviser, continues to manage
the Fund and has co-managed various other Colonial funds
since 1996. Prior to joining the Adviser in 1995, Ms. Rao
was a Quantitative Research Analyst at Fidelity Management &
Research Company, and a Vice President in the equity
research group at Kidder, Peabody and Company.
IE-36/454D-0397 March 4, 1997
