KEYPORT VARIABLE INVESTMENT TRUST
COLONIAL-KEYPORT GROWTH AND INCOME FUND
SUPPLEMENT DATED SEPTEMBER 23, 1996
TO
PROSPECTUS DATED MAY 1, 1996
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The first three paragraphs in "THE FUNDS -- Colonial-Keyport Growth and Income
Fund -- Investment Program" appearing on page 9 of the Prospectus, pertaining to
the Fund's investment program, are revised in their entirety as follows:
The Fund may invest without limit in U.S. stock exchange or NASDAQ
National Market System listed common stocks and foreign common stocks
which, when purchased, meet quantitative standards which in Colonial's
judgment indicate above average financial soundness and high intrinsic
value relative to price. Companies in which the Fund invests will fall
into one of the following three categories:
1. Companies whose current business activities provide earnings,
dividends or assets that represent above average value for
each dollar invested; or
2. Companies whose business activities are concentrated in
industries or business strategies which are expected to
provide above average stability or value in turbulent markets;
or
3. Companies with anticipated business growth prospects that
represent above average value for each dollar invested.
For this purpose, "average" will not be pegged to a specific index but
rather determined in Colonial's judgment based on an eligible universe of
securities of appropriate market capitalization for which sufficient data
is available. Such average may also be qualified by industry group or
sector.
Up to 5% of the Fund's net assets may be invested in common stocks not
meeting any of the foregoing conditions at the time of purchase.
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Client Service Hotline
800-367-3653 (press 3)
Distributed by:
Keyport Financial Services Corp.
125 High Street
Boston, Massachusetts 02110
