COLONIAL GLOBAL EQUITY FUND, VARIABLE SERIES
SUPPLEMENT TO PROSPECTUSES DATED MAY 1, 2000 AND JUNE 1, 2000
(REPLACING SUPPLEMENT DATED JUNE 1, 2000)
The Fund's Prospectuses are amended as follows:
1) Effective June 1, 2000, the Fund began offering a new class of shares.
The new class of shares was designated Class A shares. The existing
class of shares was designated Class B shares. The classes differ only
in that each share class has its own expense structure.
2) Effective January 1, 2001, Ophelia Barsketis and Deborah A. Jansen no
longer co-manage the Fund and Charles R. Roberts and Erik P. Gustafson
began co-managing the Fund. The paragraph describing Charles R. Roberts
under the sub-caption "Colonial" under the caption "INVESTMENT
SUB-ADVISORS AND PORTFOLIO MANAGERS" is revised in its entirety as
follows:
CHARLES R. ROBERTS, a senior vice president of Colonial, has been the
lead manager for the International Horizons Fund since March, 2000 and
co-manager for the Global Equity Fund since January, 2000. Mr. Roberts
is also managing director of international equities and senior vice
president of Newport Pacific Management, Inc. (Newport Pacific), the
immediate parent of Newport Fund Management, Inc. (Newport). Mr.
Roberts has been employed with Newport and Newport Pacific since
November, 1998 and has managed other international funds in the Liberty
group of funds since that time. Prior to joining Newport and Newport
Pacific, he managed the European component of institutional
international equity accounts at Progress Investment Management
(Progress) since 1997. Prior to joining Progress in 1997, he managed
the European component of institutional international equity accounts
and was a member of the investment policy committee at Sit/Kim
International since 1994.
The following paragraph is added under the sub-caption "Colonial" under
the caption "INVESTMENT SUB-ADVISORS AND PORTFOLIO MANAGERS":
ERIK P. GUSTAFSON, a senior vice president of Colonial, has co-managed
the Global Equity Fund since January, 2000. Mr. Gustafson joined Stein
Roe & Farnham Incorporated (Stein Roe), an affiliate of Colonial, in
1992 as a portfolio manager for privately managed accounts. He holds a
B.A. degree from the University of Virginia and M.B.A. and J.D. degrees
from Florida State University.
ANN-36/558E-0101 January 19, 2001
<PAGE>
STEIN ROE GLOBAL UTILITIES FUND, VARIABLE SERIES
SUPPLEMENT TO PROSPECTUSES DATED MAY 1, 2000 AND JUNE 1, 2000
(REPLACING SUPPLEMENT DATED JUNE 1, 2000)
The Fund's Prospectuses are amended as follows:
2) Effective June 1, 2000, the Fund began offering a new class of shares.
The new class of shares was designated Class B shares. The existing
class of shares was designated Class A shares. The classes differ only
in that each share class has its own expense structure.
3) Effective January 1, 2001, Ophelia Barsketis and Deborah A. Jansen no
longer co-manage the Fund and Charles R. Roberts and Scott Schermerhorn
began co-managing the Fund. The following two paragraphs are added
under the sub-caption "Stein Roe" under the caption "INVESTMENT
SUB-ADVISORS AND PORTFOLIO MANAGERS":
CHARLES R. ROBERTS, a senior vice president of Stein Roe, has
co-managed the Global Utilities Fund since January, 2000. Mr. Roberts
is also managing director of international equities and senior vice
president of Newport Pacific Management, Inc. (Newport Pacific), the
immediate parent of Newport Fund Management, Inc. (Newport). Mr.
Roberts has been employed with Newport and Newport Pacific since
November, 1998 and has managed other international funds in the Liberty
group of funds since that time. Prior to joining Newport and Newport
Pacific, he managed the European component of institutional
international equity accounts at Progress Investment Management
(Progress) since 1997. Prior to joining Progress in 1997, he managed
the European component of institutional international equity accounts
and was a member of the investment policy committee at Sit/Kim
International since 1994.
SCOTT SCHERMERHORN, a senior vice president of Stein Roe, has
co-managed the Global Utilities Fund since January, 2000. Mr.
Schermerhorn is also a senior vice president of Colonial Management
Associates, Inc. (Colonial), an affiliate of Stein Roe and has managed
various other funds for Colonial since October, 1998. From May, 1996 to
October, 1998, Mr. Schermerhorn was the head of the value team at
Federated Investors, where he managed the American Leader Fund,
Federated Stock Trust and Federated Stock and Bond Fund, as well as
other institutional accounts. From February, 1990 to May, 1996, Mr.
Schermerhorn was a portfolio manager and a member of the growth and
income team at J&W Seligman.
ANN-36/559E-0101 January 19, 2001
