COLONIAL INTERNATIONAL HORIZONS FUND, VARIABLE SERIES
Supplement to Prospectus dated May 1, 2000
On April 27, 2000, the Fund's Board of Trustees approved changes to the Fund's
investment goals and investment strategy. The section "The Funds" - "Colonial
International Horizons Fund, Variable Series" - "Investment Goals" and "Primary
Investment Strategies", are changed in their entirety as follows:
Investment Goal
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The Fund seeks long-term growth.
Primary Investment Strategies
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Under normal market conditions, the Fund invests at least 65% of its total
assets in non-U.S. equity securities of growth companies which Colonial believes
will provide superior long-term growth.
In selecting stocks for the Fund, Colonial will choose stocks of growth
companies with long-term, above average growth potential, in market segments
that are driving economic growth. Stock selection will target high quality
companies with proven management and low levels of debt.
Additional strategies that are not primary investment strategies and the risks
associated with them are described below under "Other Investment Strategies and
Risks."
May 1, 2000
