COLONIAL VALUE FUND
Supplement to Prospectus dated November 2, 1998
During the period November 2, 1998 through January 31, 1999 (Sales Period),
unless extended by Liberty Funds Distributor, Inc. (Distributor), the
Distributor will pay to dealers additional commissions on sales of Class A and
Class B shares of the Fund for investment in accounts in any Colonial
self-directed or prototype IRA, SEP IRA, SARSEP, Roth IRA and SIMPLE IRA. The
Distributor will pay to dealers 100% of the applicable Class A sales charge and
an additional commission equal to 0.50% of the net asset value of Class B shares
sold during the Sales Period for investment in the retirement accounts
referenced above.
CV-36/183G-1198 November 2, 1998
