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FILED PURSUANT TO RULE 497(e)
1933 ACT FILE NO. 33-49290
1940 ACT FILE NO. 811-6726
THE GALAXY VIP FUND
(THE "TRUST")
MONEY MARKET FUND
EQUITY FUND
GROWTH AND INCOME FUND
SMALL COMPANY GROWTH FUND
COLUMBIA REAL ESTATE EQUITY FUND II
ASSET ALLOCATION FUND
HIGH QUALITY BOND FUND
COLUMBIA HIGH YIELD FUND II
SUPPLEMENT DATED JANUARY 4, 2000
TO THE
STATEMENT OF ADDITIONAL INFORMATION DATED APRIL 30, 1999
On December 1, 1999, all of the outstanding stock of First Data Investor
Services Group, Inc. ("Investor Services Group"), the Trust's administrator, was
acquired by PFPC Trust Company (the "Transaction"). PFPC Trust Company is a
wholly-owned subsidiary of PFPC Worldwide, Inc. and an indirect wholly-owned
subsidiary of PNC Bank Corp. Also on December 1, 1999 and as a part of the
Transaction, PFPC Inc., an indirect wholly-owned subsidiary of PNC Bank Corp.,
was merged into Investor Services Group, which then changed its name to PFPC
Inc.
In connection with the Transaction, on December 1, 1999, Provident
Distributors, Inc. ("PDI") became the distributor of the Trust's shares. PDI is
a registered broker/dealer with its principal offices at Four Falls Corporate
Center, 6th Floor, West Conshohocken, Pennsylvania 19428-2961.
There are no changes to the phone numbers or addresses for shareholder
inquiries or investments.
GVASAIVIP1
