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COLONIAL AGGRESSIVE GROWTH FUND Supplement to Prospectus dated September 30, 1996 (replacing Supplement dated March 10, 1997) Effective April 24, 1997, Peter Wiley no longer co-manages the Fund. Mark Stoeckle, Vice President of the Adviser, has managed or co-managed the Fund since January, 1997. Prior to joining the Adviser in 1996, Mr. Stoeckle was a portfolio manager at Massachusetts Financial Services Company and an investment banker at Bear, Stearns & Co. Inc. AG-632D -0497 May 1, 1997
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