77D Policies with respect to security holders
Pursuant to the Board of Trustees' approval, Colonial International
Horizons Fund, Variable Series (the "Fund") has changed its investment goals and
investment strategy. The Fund changed its investment goals from seeking
preservation of capital purchasing power and long-term growth to seeking
long-term growth.
The Fund changed its investment strategy from investing at least 65% of
its total assets in the equity securities of inflation sensitive companies
located outside of the United States to investing in at least 65% of its total
assets in the equity securities of growth companies located outside of the
United States. In selecting stocks for the Fund, the advisor will choose stocks
of growth companies with long-term, above average growth potential. These
companies will be found in market segments that are driving economic growth.
Stock selection will target companies with proven management, predictable growth
rates and low levels of debt.
