Columbia Acorn Trust

                         Supplement dated March 11, 2004
                      to Prospectuses dated May 1, 2003 of
                               Columbia Acorn Fund
                               Columbia Acorn USA
                              Columbia Acorn Select

Portfolio Manager/Title Changes. Effective immediately, Ben Andrews has been
named co-portfolio manager of Columbia Acorn Select, with John Park continuing
as lead portfolio manager. Effective April 30, 2004, Mr. Andrews will become the
sole lead portfolio manager of that Fund.

Mr. Andrews is a vice president of Columbia Acorn Trust and has been part of the
Columbia Wanger Asset Management, L.P. ("CWAM") investment team since 1998, most
recently as a senior technology analyst. His analytical experience includes
covering a broad range of industries and special situations. Effective
immediately, Mr. Andrews is also a co-portfolio manager of Wanger Twenty and
effective April 30, 2004, Mr. Andrews will become the lead portfolio manager of
Wanger Twenty, a mutual fund underlying variable insurance products. Prior to
joining CWAM, Mr. Andrews was a senior analyst at Rothschild Investment
Corporation. He has an MBA from Loyola University and a BSEE from the University
of Florida.

Effective April 30, 2004, John Park will no longer be a co-manager of Columbia
Acorn Fund. Columbia Acorn Fund will continue to be managed by Charles P.
McQuaid as lead portfolio manager and Robert A. Mohn as co-portfolio manager.

Effective immediately, Robert A. Mohn, lead portfolio manager of Columbia Acorn
USA and co-portfolio manager of Columbia Acorn Fund, has been named director of
domestic research for CWAM.

Columbia Acorn Select. Effective May 1, 2004, Columbia Acorn Select will invest
in between 20 and 40 companies.