<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<FILENAME>portland.txt
<DESCRIPTION>NYAG
<TEXT>




                          COLUMBIA BALANCED FUND, INC.
                          COLUMBIA DAILY INCOME COMPANY
                   COLUMBIA FIXED INCOME SECURITIES FUND, INC.
                         COLUMBIA HIGH YIELD FUND, INC.
                     COLUMBIA INTERNATIONAL STOCK FUND, INC.
                    COLUMBIA OREGON MUNICIPAL BOND FUND, INC.
                     COLUMBIA REAL ESTATE EQUITY FUND, INC.
                       COLUMBIA SHORT TERM BOND FUND, INC.
                      COLUMBIA SMALL CAP GROWTH FUND, INC.
                       COLUMBIA MID CAP GROWTH FUND, INC.
                     COLUMBIA STRATEGIC INVESTOR FUND, INC.
                         COLUMBIA TECHNOLOGY FUND, INC.
                  (EACH A "FUND" AND COLLECTIVELY, THE "FUNDS")
    SUPPLEMENT TO THE PROSPECTUSES DATED JANUARY 1, 2005 (THE "PROSPECTUSES")

      The Prospectuses are hereby supplemented with the following information
relating to hypothetical investment and expense information:

HYPOTHETICAL INVESTMENT AND EXPENSE INFORMATION

      The following supplemental hypothetical investment information provides
additional information about the effect of the expenses of each Fund, including
investment advisory fees and other Fund costs, on the Funds' returns over a
10-year period. The charts show the estimated expenses that would be charged on
a hypothetical investment of $10,000 in each class of the Funds assuming a 5%
return each year, the hypothetical year-end balance before expenses and the
cumulative return after fees and expenses. The charts also assume that the
annual expense ratios stay the same throughout the 10-year period, that all
dividends and distributions are reinvested and that Class B shares and Class G
shares converts to Class A shares and Class T shares, respectively, after eight
years. The annual expense ratio used for each Fund, which is the same as that
stated in the Annual Fund Operating Expenses tables, is reflected in the charts
and is net of any fee waiver or expense reimbursement. Your actual costs may be
higher or lower.

COLUMBIA BALANCED FUND, INC. - A

                              ANNUAL EXPENSE RATIO
                                      0.98%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $ 9,896.25                 4.02%               $ 9,803.89     $  669.22
 2                          10.25%            $10,391.06                 8.20%               $10,198.00     $   98.01
 3                          15.76%            $10,910.62                12.55%               $10,607.96     $  101.95
 4                          21.55%            $11,456.15                17.08%               $11,034.40     $  106.05
 5                          27.63%            $12,028.95                21.78%               $11,477.98     $  110.31
 6                          34.01%            $12,630.40                26.68%               $11,939.40     $  114.75
 7                          40.71%            $13,261.92                31.77%               $12,419.36     $  119.36
 8                          47.75%            $13,925.02                37.07%               $12,918.62     $  124.16
 9                          55.13%            $14,621.27                42.58%               $13,437.95     $  129.15
 10                         62.89%            $15,352.33                48.31%               $13,978.16     $  134.34

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 5,927.33
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 4,553.16
TOTAL ANNUAL FEES AND EXPENSES                                                                              $1,707.30
</TABLE>

<page>



COLUMBIA BALANCED FUND, INC. - B

                              ANNUAL EXPENSE RATIO
                                      1.73%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                 3.27%               $10,327.00     $  175.83
 2                          10.25%            $11,025.00                 6.65%               $10,664.69     $  181.58
 3                          15.76%            $11,576.25                10.13%               $11,013.43     $  187.52
 4                          21.55%            $12,155.06                13.74%               $11,373.57     $  193.65
 5                          27.63%            $12,762.82                17.45%               $11,745.48     $  199.98
 6                          34.01%            $13,400.96                21.30%               $12,129.56     $  206.52
 7                          40.71%            $14,071.00                25.26%               $12,526.20     $  213.27
 8                          47.75%            $14,774.55                29.36%               $12,935.80     $  220.25
 9                          55.13%            $15,513.28                34.56%               $13,455.82     $  129.32
 10                         62.89%            $16,288.95                39.97%               $13,996.75     $  134.52

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 3,996.75
TOTAL ANNUAL FEES AND EXPENSES                                                                              $1,842.44
</TABLE>

COLUMBIA BALANCED FUND, INC. - C

                              ANNUAL EXPENSE RATIO
                                      1.73%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                 3.27%               $10,327.00     $  175.83
 2                          10.25%            $11,025.00                 6.65%               $10,664.69     $  181.58
 3                          15.76%            $11,576.25                10.13%               $11,013.43     $  187.52
 4                          21.55%            $12,155.06                13.74%               $11,373.57     $  193.65
 5                          27.63%            $12,762.82                17.45%               $11,745.48     $  199.98
 6                          34.01%            $13,400.96                21.30%               $12,129.56     $  206.52
 7                          40.71%            $14,071.00                25.26%               $12,526.20     $  213.27
 8                          47.75%            $14,774.55                29.36%               $12,935.80     $  220.25
 9                          55.13%            $15,513.28                33.59%               $13,358.80     $  227.45
 10                         62.89%            $16,288.95                37.96%               $13,795.64     $  234.89

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 3,795.64
TOTAL ANNUAL FEES AND EXPENSES                                                                              $2,040.94
</TABLE>

<page>



COLUMBIA BALANCED FUND, INC. - D

                              ANNUAL EXPENSE RATIO
                                      1.73%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                 3.27%               $10,327.00     $  175.83
 2                          10.25%            $11,025.00                 6.65%               $10,664.69     $  181.58
 3                          15.76%            $11,576.25                10.13%               $11,013.43     $  187.52
 4                          21.55%            $12,155.06                13.74%               $11,373.57     $  193.65
 5                          27.63%            $12,762.82                17.45%               $11,745.48     $  199.98
 6                          34.01%            $13,400.96                21.30%               $12,129.56     $  206.52
 7                          40.71%            $14,071.00                25.26%               $12,526.20     $  213.27
 8                          47.75%            $14,774.55                29.36%               $12,935.80     $  220.25
 9                          55.13%            $15,513.28                33.59%               $13,358.80     $  227.45
 10                         62.89%            $16,288.95                37.96%               $13,795.64     $  234.89

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 3,795.64
TOTAL ANNUAL FEES AND EXPENSES                                                                              $2,040.94
</TABLE>

COLUMBIA BALANCED FUND, INC. - Z

                              ANNUAL EXPENSE RATIO
                                      0.73%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                 4.27%               $10,427.00     $   74.56
 2                          10.25%            $11,025.00                 8.72%               $10,872.23     $   77.74
 3                          15.76%            $11,576.25                13.36%               $11,336.48     $   81.06
 4                          21.55%            $12,155.06                18.21%               $11,820.54     $   84.52
 5                          27.63%            $12,762.82                23.25%               $12,325.28     $   88.13
 6                          34.01%            $13,400.96                28.52%               $12,851.57     $   91.90
 7                          40.71%            $14,071.00                34.00%               $13,400.33     $   95.82
 8                          47.75%            $14,774.55                39.73%               $13,972.53     $   99.91
 9                          55.13%            $15,513.28                45.69%               $14,569.15     $  104.18
 10                         62.89%            $16,288.95                51.91%               $15,191.26     $  108.63

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 5,191.26
TOTAL ANNUAL FEES AND EXPENSES                                                                              $  906.45
</TABLE>

<page>



COLUMBIA DAILY INCOME COMPANY - Z

                              ANNUAL EXPENSE RATIO
                                      0.70%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                 4.30%               $10,430.00     $   71.51
 2                          10.25%            $11,025.00                 8.78%               $10,878.49     $   74.58
 3                          15.76%            $11,576.25                13.46%               $11,346.27     $   77.79
 4                          21.55%            $12,155.06                18.34%               $11,834.15     $   81.13
 5                          27.63%            $12,762.82                23.43%               $12,343.02     $   84.62
 6                          34.01%            $13,400.96                28.74%               $12,873.77     $   88.26
 7                          40.71%            $14,071.00                34.27%               $13,427.35     $   92.05
 8                          47.75%            $14,774.55                40.05%               $14,004.72     $   96.01
 9                          55.13%            $15,513.28                46.07%               $14,606.92     $  100.14
 10                         62.89%            $16,288.95                52.35%               $15,235.02     $  104.45

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 5,235.02
TOTAL ANNUAL FEES AND EXPENSES                                                                              $  870.54
</TABLE>

COLUMBIA FIXED INCOME SECURITIES FUND, INC. - A

                              ANNUAL EXPENSE RATIO
                                      1.00%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,001.25                 4.00%               $ 9,906.00     $  572.15
 2                          10.25%            $10,501.31                 8.16%               $10,302.24     $  101.04
 3                          15.76%            $11,026.38                12.49%               $10,714.33     $  105.08
 4                          21.55%            $11,577.70                16.99%               $11,142.90     $  109.29
 5                          27.63%            $12,156.58                21.67%               $11,588.62     $  113.66
 6                          34.01%            $12,764.41                26.53%               $12,052.16     $  118.20
 7                          40.71%            $13,402.63                31.59%               $12,534.25     $  122.93
 8                          47.75%            $14,072.76                36.86%               $13,035.62     $  127.85
 9                          55.13%            $14,776.40                42.33%               $13,557.05     $  132.96
 10                         62.89%            $15,515.22                48.02%               $14,099.33     $  138.28

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 5,990.22
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 4,574.33
TOTAL ANNUAL FEES AND EXPENSES                                                                              $1,641.44
</TABLE>

<page>


]
COLUMBIA FIXED INCOME SECURITIES FUND, INC. - B

                              ANNUAL EXPENSE RATIO
                                      1.75%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                 3.25%               $10,325.00     $  177.84
 2                          10.25%            $11,025.00                 6.61%               $10,660.56     $  183.62
 3                          15.76%            $11,576.25                10.07%               $11,007.03     $  189.59
 4                          21.55%            $12,155.06                13.65%               $11,364.76     $  195.75
 5                          27.63%            $12,762.82                17.34%               $11,734.11     $  202.12
 6                          34.01%            $13,400.96                21.15%               $12,115.47     $  208.68
 7                          40.71%            $14,071.00                25.09%               $12,509.23     $  215.47
 8                          47.75%            $14,774.55                29.16%               $12,915.78     $  222.47
 9                          55.13%            $15,513.28                34.32%               $13,432.41     $  131.74
 10                         62.89%            $16,288.95                39.70%               $13,969.70     $  137.01

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 3,969.70
TOTAL ANNUAL FEES AND EXPENSES                                                                              $1,864.29
</TABLE>

COLUMBIA FIXED INCOME SECURITIES FUND, INC. - C

                              ANNUAL EXPENSE RATIO
                                      1.75%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                 3.25%               $10,325.00     $  177.84
 2                          10.25%            $11,025.00                 6.61%               $10,660.56     $  183.62
 3                          15.76%            $11,576.25                10.07%               $11,007.03     $  189.59
 4                          21.55%            $12,155.06                13.65%               $11,364.76     $  195.75
 5                          27.63%            $12,762.82                17.34%               $11,734.11     $  202.12
 6                          34.01%            $13,400.96                21.15%               $12,115.47     $  208.68
 7                          40.71%            $14,071.00                25.09%               $12,509.23     $  215.47
 8                          47.75%            $14,774.55                29.16%               $12,915.78     $  222.47
 9                          55.13%            $15,513.28                33.36%               $13,335.54     $  229.70
 10                         62.89%            $16,288.95                37.69%               $13,768.94     $  237.16

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 3,768.94
TOTAL ANNUAL FEES AND EXPENSES                                                                              $2,062.40
</TABLE>

<page>



COLUMBIA FIXED INCOME SECURITIES FUND, INC. - D

                              ANNUAL EXPENSE RATIO
                                      1.75%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                 3.25%               $10,325.00     $  177.84
 2                          10.25%            $11,025.00                 6.61%               $10,660.56     $  183.62
 3                          15.76%            $11,576.25                10.07%               $11,007.03     $  189.59
 4                          21.55%            $12,155.06                13.65%               $11,364.76     $  195.75
 5                          27.63%            $12,762.82                17.34%               $11,734.11     $  202.12
 6                          34.01%            $13,400.96                21.15%               $12,115.47     $  208.68
 7                          40.71%            $14,071.00                25.09%               $12,509.23     $  215.47
 8                          47.75%            $14,774.55                29.16%               $12,915.78     $  222.47
 9                          55.13%            $15,513.28                33.36%               $13,335.54     $  229.70
 10                         62.89%            $16,288.95                37.69%               $13,768.94     $  237.16

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 3,768.94
TOTAL ANNUAL FEES AND EXPENSES                                                                              $2,062.40
</TABLE>

COLUMBIA FIXED INCOME SECURITIES FUND, INC. - Z

                              ANNUAL EXPENSE RATIO
                                      0.75%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                 4.25%               $10,425.00     $   76.59
 2                          10.25%            $11,025.00                 8.68%               $10,868.06     $   79.85
 3                          15.76%            $11,576.25                13.30%               $11,329.96     $   83.24
 4                          21.55%            $12,155.06                18.11%               $11,811.48     $   86.78
 5                          27.63%            $12,762.82                23.13%               $12,313.47     $   90.47
 6                          34.01%            $13,400.96                28.37%               $12,836.79     $   94.31
 7                          40.71%            $14,071.00                33.82%               $13,382.35     $   98.32
 8                          47.75%            $14,774.55                39.51%               $13,951.10     $  102.50
 9                          55.13%            $15,513.28                45.44%               $14,544.02     $  106.86
 10                         62.89%            $16,288.95                51.62%               $15,162.14     $  111.40

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 5,162.14
TOTAL ANNUAL FEES AND EXPENSES                                                                              $  930.32
</TABLE>

<page>



COLUMBIA HIGH YIELD FUND, INC. - A

                              ANNUAL EXPENSE RATIO
                                      1.00%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,001.25                 4.00%               $ 9,906.00     $  572.15
 2                          10.25%            $10,501.31                 8.16%               $10,302.24     $  101.04
 3                          15.76%            $11,026.38                12.49%               $10,714.33     $  105.08
 4                          21.55%            $11,577.70                16.99%               $11,142.90     $  109.29
 5                          27.63%            $12,156.58                21.67%               $11,588.62     $  113.66
 6                          34.01%            $12,764.41                26.53%               $12,052.16     $  118.20
 7                          40.71%            $13,402.63                31.59%               $12,534.25     $  122.93
 8                          47.75%            $14,072.76                36.86%               $13,035.62     $  127.85
 9                          55.13%            $14,776.40                42.33%               $13,557.05     $  132.96
 10                         62.89%            $15,515.22                48.02%               $14,099.33     $  138.28

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 5,990.22
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 4,574.33
TOTAL ANNUAL FEES AND EXPENSES                                                                              $1,641.44
</TABLE>

COLUMBIA HIGH YIELD FUND, INC. - B

                              ANNUAL EXPENSE RATIO
                                      1.75%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                 3.25%               $10,325.00     $  177.84
 2                          10.25%            $11,025.00                 6.61%               $10,660.56     $  183.62
 3                          15.76%            $11,576.25                10.07%               $11,007.03     $  189.59
 4                          21.55%            $12,155.06                13.65%               $11,364.76     $  195.75
 5                          27.63%            $12,762.82                17.34%               $11,734.11     $  202.12
 6                          34.01%            $13,400.96                21.15%               $12,115.47     $  208.68
 7                          40.71%            $14,071.00                25.09%               $12,509.23     $  215.47
 8                          47.75%            $14,774.55                29.16%               $12,915.78     $  222.47
 9                          55.13%            $15,513.28                34.32%               $13,432.41     $  131.74
 10                         62.89%            $16,288.95                39.70%               $13,969.70     $  137.01

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 3,969.70
TOTAL ANNUAL FEES AND EXPENSES                                                                              $1,864.29
</TABLE>

<page>



COLUMBIA HIGH YIELD FUND, INC. - C

                              ANNUAL EXPENSE RATIO
                                      1.75%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                 3.25%               $10,325.00     $  177.84
 2                          10.25%            $11,025.00                 6.61%               $10,660.56     $  183.62
 3                          15.76%            $11,576.25                10.07%               $11,007.03     $  189.59
 4                          21.55%            $12,155.06                13.65%               $11,364.76     $  195.75
 5                          27.63%            $12,762.82                17.34%               $11,734.11     $  202.12
 6                          34.01%            $13,400.96                21.15%               $12,115.47     $  208.68
 7                          40.71%            $14,071.00                25.09%               $12,509.23     $  215.47
 8                          47.75%            $14,774.55                29.16%               $12,915.78     $  222.47
 9                          55.13%            $15,513.28                33.36%               $13,335.54     $  229.70
 10                         62.89%            $16,288.95                37.69%               $13,768.94     $  237.16

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 3,768.94
TOTAL ANNUAL FEES AND EXPENSES                                                                              $2,062.40
</TABLE>

COLUMBIA HIGH YIELD FUND, INC. - D

                              ANNUAL EXPENSE RATIO
                                      1.75%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                   3.25%             $10,325.00     $  177.84
 2                          10.25%            $11,025.00                   6.61%             $10,660.56     $  183.62
 3                          15.76%            $11,576.25                  10.07%             $11,007.03     $  189.59
 4                          21.55%            $12,155.06                  13.65%             $11,364.76     $  195.75
 5                          27.63%            $12,762.82                  17.34%             $11,734.11     $  202.12
 6                          34.01%            $13,400.96                  21.15%             $12,115.47     $  208.68
 7                          40.71%            $14,071.00                  25.09%             $12,509.23     $  215.47
 8                          47.75%            $14,774.55                  29.16%             $12,915.78     $  222.47
 9                          55.13%            $15,513.28                  33.36%             $13,335.54     $  229.70
 10                         62.89%            $16,288.95                  37.69%             $13,768.94     $  237.16

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 3,768.94
TOTAL ANNUAL FEES AND EXPENSES                                                                              $2,062.40
</TABLE>

<page>



COLUMBIA HIGH YIELD FUND, INC. - Z

                              ANNUAL EXPENSE RATIO
                                      0.75%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                 4.25%               $10,425.00     $   76.59
 2                          10.25%            $11,025.00                 8.68%               $10,868.06     $   79.85
 3                          15.76%            $11,576.25                13.30%               $11,329.96     $   83.24
 4                          21.55%            $12,155.06                18.11%               $11,811.48     $   86.78
 5                          27.63%            $12,762.82                23.13%               $12,313.47     $   90.47
 6                          34.01%            $13,400.96                28.37%               $12,836.79     $   94.31
 7                          40.71%            $14,071.00                33.82%               $13,382.35     $   98.32
 8                          47.75%            $14,774.55                39.51%               $13,951.10     $  102.50
 9                          55.13%            $15,513.28                45.44%               $14,544.02     $  106.86
 10                         62.89%            $16,288.95                51.62%               $15,162.14     $  111.40

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 5,162.14
TOTAL ANNUAL FEES AND EXPENSES                                                                              $  930.32
</TABLE>

COLUMBIA INTERNATIONAL STOCK FUND, INC. - A

                              ANNUAL EXPENSE RATIO
                                      1.57%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $ 9,896.25                 3.43%               $ 9,748.28     $  725.51
 2                          10.25%            $10,391.06                 6.98%               $10,082.64     $  155.67
 3                          15.76%            $10,910.62                10.65%               $10,428.48     $  161.01
 4                          21.55%            $11,456.15                14.44%               $10,786.17     $  166.54
 5                          27.63%            $12,028.95                18.37%               $11,156.14     $  172.25
 6                          34.01%            $12,630.40                22.43%               $11,538.80     $  178.16
 7                          40.71%            $13,261.92                26.63%               $11,934.58     $  184.27
 8                          47.75%            $13,925.02                30.97%               $12,343.93     $  190.59
 9                          55.13%            $14,621.27                35.46%               $12,767.33     $  197.12
 10                         62.89%            $15,352.33                40.11%               $13,205.25     $  203.88

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 5,927.33
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 3,780.25
TOTAL ANNUAL FEES AND EXPENSES                                                                              $2,335.00
</TABLE>

<page>



COLUMBIA INTERNATIONAL STOCK FUND, INC. - B

                              ANNUAL EXPENSE RATIO
                                      2.32%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                 2.68%               $10,268.00     $  235.11
 2                          10.25%            $11,025.00                 5.43%               $10,543.18     $  241.41
 3                          15.76%            $11,576.25                 8.26%               $10,825.74     $  247.88
 4                          21.55%            $12,155.06                11.16%               $11,115.87     $  254.52
 5                          27.63%            $12,762.82                14.14%               $11,413.77     $  261.34
 6                          34.01%            $13,400.96                17.20%               $11,719.66     $  268.35
 7                          40.71%            $14,071.00                20.34%               $12,033.75     $  275.54
 8                          47.75%            $14,774.55                23.56%               $12,356.26     $  282.92
 9                          55.13%            $15,513.28                27.80%               $12,780.08     $  197.32
 10                         62.89%            $16,288.95                32.18%               $13,218.43     $  204.09

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 3,218.43
TOTAL ANNUAL FEES AND EXPENSES                                                                              $2,468.48
</TABLE>

COLUMBIA INTERNATIONAL STOCK FUND, INC. - C

                              ANNUAL EXPENSE RATIO
                                      2.32%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                 2.68%               $10,268.00     $  235.11
 2                          10.25%            $11,025.00                 5.43%               $10,543.18     $  241.41
 3                          15.76%            $11,576.25                 8.26%               $10,825.74     $  247.88
 4                          21.55%            $12,155.06                11.16%               $11,115.87     $  254.52
 5                          27.63%            $12,762.82                14.14%               $11,413.77     $  261.34
 6                          34.01%            $13,400.96                17.20%               $11,719.66     $  268.35
 7                          40.71%            $14,071.00                20.34%               $12,033.75     $  275.54
 8                          47.75%            $14,774.55                23.56%               $12,356.26     $  282.92
 9                          55.13%            $15,513.28                26.87%               $12,687.40     $  290.51
 10                         62.89%            $16,288.95                30.27%               $13,027.43     $  298.29

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 3,027.43
TOTAL ANNUAL FEES AND EXPENSES                                                                              $2,655.87
</TABLE>

<page>



COLUMBIA INTERNATIONAL STOCK FUND, INC. - D

                              ANNUAL EXPENSE RATIO
                                      2.32%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                 2.68%               $10,268.00     $  235.11
 2                          10.25%            $11,025.00                 5.43%               $10,543.18     $  241.41
 3                          15.76%            $11,576.25                 8.26%               $10,825.74     $  247.88
 4                          21.55%            $12,155.06                11.16%               $11,115.87     $  254.52
 5                          27.63%            $12,762.82                14.14%               $11,413.77     $  261.34
 6                          34.01%            $13,400.96                17.20%               $11,719.66     $  268.35
 7                          40.71%            $14,071.00                20.34%               $12,033.75     $  275.54
 8                          47.75%            $14,774.55                23.56%               $12,356.26     $  282.92
 9                          55.13%            $15,513.28                26.87%               $12,687.40     $  290.51
 10                         62.89%            $16,288.95                30.27%               $13,027.43     $  298.29

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 3,027.43
TOTAL ANNUAL FEES AND EXPENSES                                                                              $2,655.87
</TABLE>

COLUMBIA INTERNATIONAL STOCK FUND, INC. - G

                              ANNUAL EXPENSE RATIO
                                      2.17%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                 2.83%               $10,283.00     $  220.07
 2                          10.25%            $11,025.00                 5.74%               $10,574.01     $  226.30
 3                          15.76%            $11,576.25                 8.73%               $10,873.25     $  232.70
 4                          21.55%            $12,155.06                11.81%               $11,180.97     $  239.29
 5                          27.63%            $12,762.82                14.97%               $11,497.39     $  246.06
 6                          34.01%            $13,400.96                18.23%               $11,822.76     $  253.02
 7                          40.71%            $14,071.00                21.57%               $12,157.35     $  260.18
 8                          47.75%            $14,774.55                25.01%               $12,501.40     $  267.55
 9                          55.13%            $15,513.28                29.30%               $12,930.20     $  199.64
 10                         62.89%            $16,288.95                33.74%               $13,373.70     $  206.49

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 3,373.70
TOTAL ANNUAL FEES AND EXPENSES                                                                              $2,351.30
</TABLE>

<page>



COLUMBIA INTERNATIONAL STOCK FUND, INC. - Z

                              ANNUAL EXPENSE RATIO
                                      1.32%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,500.00                 3.68%               $10,368.00     $  134.43
 2                          10.25%            $11,025.00                 7.50%               $10,749.54     $  139.38
 3                          15.76%            $11,576.25                11.45%               $11,145.13     $  144.50
 4                          21.55%            $12,155.06                15.55%               $11,555.27     $  149.82
 5                          27.63%            $12,762.82                19.80%               $11,980.50     $  155.34
 6                          34.01%            $13,400.96                24.21%               $12,421.38     $  161.05
 7                          40.71%            $14,071.00                28.78%               $12,878.49     $  166.98
 8                          47.75%            $14,774.55                33.52%               $13,352.42     $  173.12
 9                          55.13%            $15,513.28                38.44%               $13,843.79     $  179.49
 10                         62.89%            $16,288.95                43.53%               $14,353.24     $  186.10

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 4,353.24
TOTAL ANNUAL FEES AND EXPENSES                                                                              $1,590.21
</TABLE>

COLUMBIA OREGON MUNICIPAL BOND FUND, INC. - A

                              ANNUAL EXPENSE RATIO
                                      0.91%

<TABLE>
<CAPTION>
                      CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR    ANNUAL
                       BEFORE FEES AND      BALANCE BEFORE         CUMULATIVE RETURN     END BALANCE AFTER   FEES AND
YEAR                       EXPENSES        FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES   EXPENSES
<S>                   <C>                <C>                    <C>                      <C>                <C>
 1                           5.00%            $10,001.25                 4.09%               $ 9,914.57     $  563.45
 2                          10.25%            $10,501.31                 8.35%               $10,320.08     $   92.07
 3                          15.76%            $11,026.38                12.78%               $10,742.17     $   95.83
 4                          21.55%            $11,577.70                17.39%               $11,181.52     $   99.75
 5                          27.63%            $12,156.58                22.19%               $11,638.85     $  103.83
 6                          34.01%            $12,764.41                27.19%               $12,114.88     $  108.08
 7                          40.71%            $13,402.63                32.39%               $12,610.38     $  112.50
 8                          47.75%            $14,072.76                37.81%               $13,126.14     $  117.10
 9                          55.13%            $14,776.40                43.44%               $13,663.00     $  121.89
 10                         62.89%            $15,515.22                49.31%               $14,221.82     $  126.88

TOTAL GAIN BEFORE FEES AND EXPENSES           $ 5,990.22
TOTAL GAIN AFTER FEES AND EXPENSES                                                           $ 4,696.82
TOTAL ANNUAL FEES AND EXPENSES                                                                              $1,541.38
</TABLE>

<page>



COLUMBIA OREGON MUNICIPAL BOND FUND, INC. - B

                              ANNUAL EXPENSE RATIO
                                      1.66%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                3.34%               $10,334.00     $  168.77
 2                     10.25%              $11,025.00                6.79%               $10,679.16     $  174.41
 3                     15.76%              $11,576.25               10.36%               $11,035.84     $  180.23
 4                     21.55%              $12,155.06               14.04%               $11,404.44     $  186.25
 5                     27.63%              $12,762.82               17.85%               $11,785.34     $  192.48
 6                     34.01%              $13,400.96               21.79%               $12,178.98     $  198.90
 7                     40.71%              $14,071.00               25.86%               $12,585.75     $  205.55
 8                     47.75%              $14,774.55               30.06%               $13,006.12     $  212.41
 9                     55.13%              $15,513.28               35.38%               $13,538.07     $  120.78
 10                    62.89%              $16,288.95               40.92%               $14,091.77     $  125.72

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 4,091.77
TOTAL ANNUAL FEES AND EXPENSES                                                                          $1,765.50
</TABLE>

COLUMBIA OREGON MUNICIPAL BOND FUND, INC. - C

                              ANNUAL EXPENSE RATIO
                                      1.66%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                3.34%               $10,334.00     $  168.77
 2                     10.25%              $11,025.00                6.79%               $10,679.16     $  174.41
 3                     15.76%              $11,576.25               10.36%               $11,035.84     $  180.23
 4                     21.55%              $12,155.06               14.04%               $11,404.44     $  186.25
 5                     27.63%              $12,762.82               17.85%               $11,785.34     $  192.48
 6                     34.01%              $13,400.96               21.79%               $12,178.98     $  198.90
 7                     40.71%              $14,071.00               25.86%               $12,585.75     $  205.55
 8                     47.75%              $14,774.55               30.06%               $13,006.12     $  212.41
 9                     55.13%              $15,513.28               34.41%               $13,440.52     $  219.51
 10                    62.89%              $16,288.95               38.89%               $13,889.43     $  226.84

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 3,889.43
TOTAL ANNUAL FEES AND EXPENSES                                                                          $1,965.35
</TABLE>

<page>



COLUMBIA OREGON MUNICIPAL BOND FUND, INC. - D

                              ANNUAL EXPENSE RATIO
                                      1.66%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                3.34%               $10,334.00     $  168.77
 2                     10.25%              $11,025.00                6.79%               $10,679.16     $  174.41
 3                     15.76%              $11,576.25               10.36%               $11,035.84     $  180.23
 4                     21.55%              $12,155.06               14.04%               $11,404.44     $  186.25
 5                     27.63%              $12,762.82               17.85%               $11,785.34     $  192.48
 6                     34.01%              $13,400.96               21.79%               $12,178.98     $  198.90
 7                     40.71%              $14,071.00               25.86%               $12,585.75     $  205.55
 8                     47.75%              $14,774.55               30.06%               $13,006.12     $  212.41
 9                     55.13%              $15,513.28               34.41%               $13,440.52     $  219.51
 10                    62.89%              $16,288.95               38.89%               $13,889.43     $  226.84

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 3,889.43
TOTAL ANNUAL FEES AND EXPENSES                                                                          $1,965.35
</TABLE>

COLUMBIA OREGON MUNICIPAL BOND FUND, INC. - Z

                              ANNUAL EXPENSE RATIO
                                      0.66%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                4.34%               $10,434.00     $  67.43
 2                     10.25%              $11,025.00                8.87%               $10,886.84     $  70.36
 3                     15.76%              $11,576.25               13.59%               $11,359.32     $  73.41
 4                     21.55%              $12,155.06               18.52%               $11,852.32     $  76.60
 5                     27.63%              $12,762.82               23.67%               $12,366.71     $  79.92
 6                     34.01%              $13,400.96               29.03%               $12,903.42     $  83.39
 7                     40.71%              $14,071.00               34.63%               $13,463.43     $  87.01
 8                     47.75%              $14,774.55               40.48%               $14,047.75     $  90.79
 9                     55.13%              $15,513.28               46.57%               $14,657.42     $  94.73
 10                    62.89%              $16,288.95               52.94%               $15,293.55     $  98.84

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 5,293.55
TOTAL ANNUAL FEES AND EXPENSES                                                                          $ 822.48
</TABLE>

<page>



COLUMBIA REAL ESTATE EQUITY FUND, INC. - A

                              ANNUAL EXPENSE RATIO
                                      1.20%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $ 9,896.25                3.80%               $ 9,783.15     $  690.25
 2                     10.25%              $10,391.06                7.74%               $10,154.91     $  119.63
 3                     15.76%              $10,910.62               11.84%               $10,540.80     $  124.17
 4                     21.55%              $11,456.15               16.09%               $10,941.35     $  128.89
 5                     27.63%              $12,028.95               20.50%               $11,357.12     $  133.79
 6                     34.01%              $12,630.40               25.08%               $11,788.69     $  138.87
 7                     40.71%              $13,261.92               29.83%               $12,236.66     $  144.15
 8                     47.75%              $13,925.02               34.77%               $12,701.65     $  149.63
 9                     55.13%              $14,621.27               39.89%               $13,184.31     $  155.32
 10                    62.89%              $15,352.33               45.20%               $13,685.32     $  161.22

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 5,927.33
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 4,260.32
TOTAL ANNUAL FEES AND EXPENSES                                                                          $1,945.92
</TABLE>

COLUMBIA REAL ESTATE EQUITY FUND, INC. - B

                              ANNUAL EXPENSE RATIO
                                      1.95%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                3.05%               $10,305.00     $  197.97
 2                     10.25%              $11,025.00                6.19%               $10,619.30     $  204.01
 3                     15.76%              $11,576.25                9.43%               $10,943.19     $  210.23
 4                     21.55%              $12,155.06               12.77%               $11,276.96     $  216.65
 5                     27.63%              $12,762.82               16.21%               $11,620.91     $  223.25
 6                     34.01%              $13,400.96               19.75%               $11,975.34     $  230.06
 7                     40.71%              $14,071.00               23.41%               $12,340.59     $  237.08
 8                     47.75%              $14,774.55               27.17%               $12,716.98     $  244.31
 9                     55.13%              $15,513.28               32.00%               $13,200.22     $  155.50
 10                    62.89%              $16,288.95               37.02%               $13,701.83     $  161.41

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 3,701.83
TOTAL ANNUAL FEES AND EXPENSES                                                                          $2,080.47
</TABLE>

<page>



COLUMBIA REAL ESTATE EQUITY FUND, INC. - C

                              ANNUAL EXPENSE RATIO
                                      1.95%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                3.05%               $10,305.00     $  197.97
 2                     10.25%              $11,025.00                6.19%               $10,619.30     $  204.01
 3                     15.76%              $11,576.25                9.43%               $10,943.19     $  210.23
 4                     21.55%              $12,155.06               12.77%               $11,276.96     $  216.65
 5                     27.63%              $12,762.82               16.21%               $11,620.91     $  223.25
 6                     34.01%              $13,400.96               19.75%               $11,975.34     $  230.06
 7                     40.71%              $14,071.00               23.41%               $12,340.59     $  237.08
 8                     47.75%              $14,774.55               27.17%               $12,716.98     $  244.31
 9                     55.13%              $15,513.28               31.05%               $13,104.85     $  251.76
 10                    62.89%              $16,288.95               35.05%               $13,504.55     $  259.44

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 3,504.55
TOTAL ANNUAL FEES AND EXPENSES                                                                          $2,274.76
</TABLE>

COLUMBIA REAL ESTATE EQUITY FUND, INC. - D

                              ANNUAL EXPENSE RATIO
                                      1.95%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                3.05%               $10,305.00     $  197.97
 2                     10.25%              $11,025.00                6.19%               $10,619.30     $  204.01
 3                     15.76%              $11,576.25                9.43%               $10,943.19     $  210.23
 4                     21.55%              $12,155.06               12.77%               $11,276.96     $  216.65
 5                     27.63%              $12,762.82               16.21%               $11,620.91     $  223.25
 6                     34.01%              $13,400.96               19.75%               $11,975.34     $  230.06
 7                     40.71%              $14,071.00               23.41%               $12,340.59     $  237.08
 8                     47.75%              $14,774.55               27.17%               $12,716.98     $  244.31
 9                     55.13%              $15,513.28               31.05%               $13,104.85     $  251.76
 10                    62.89%              $16,288.95               35.05%               $13,504.55     $  259.44

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 3,504.55
TOTAL ANNUAL FEES AND EXPENSES                                                                          $2,274.76
</TABLE>

<page>



COLUMBIA REAL ESTATE EQUITY FUND, INC. - Z

                              ANNUAL EXPENSE RATIO
                                     0.95%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                4.05%               $10,405.00     $   96.92
 2                     10.25%              $11,025.00                8.26%               $10,826.40     $  100.85
 3                     15.76%              $11,576.25               12.65%               $11,264.87     $  104.93
 4                     21.55%              $12,155.06               17.21%               $11,721.10     $  109.18
 5                     27.63%              $12,762.82               21.96%               $12,195.80     $  113.61
 6                     34.01%              $13,400.96               26.90%               $12,689.73     $  118.21
 7                     40.71%              $14,071.00               32.04%               $13,203.67     $  122.99
 8                     47.75%              $14,774.55               37.38%               $13,738.42     $  127.97
 9                     55.13%              $15,513.28               42.95%               $14,294.82     $  133.16
 10                    62.89%              $16,288.95               48.74%               $14,873.76     $  138.55

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 4,873.76
TOTAL ANNUAL FEES AND EXPENSES                                                                          $1,166.37
</TABLE>

COLUMBIA SHORT TERM BOND FUND, INC. - A

                              ANNUAL EXPENSE RATIO
                                      0.94%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,001.25                4.06%               $ 9,911.72     $  566.35
 2                     10.25%              $10,501.31                8.28%               $10,314.13     $   95.06
 3                     15.76%              $11,026.38               12.68%               $10,732.88     $   98.92
 4                     21.55%              $11,577.70               17.26%               $11,168.64     $  102.94
 5                     27.63%              $12,156.58               22.02%               $11,622.09     $  107.12
 6                     34.01%              $12,764.41               26.97%               $12,093.94     $  111.47
 7                     40.71%              $13,402.63               32.13%               $12,584.96     $  115.99
 8                     47.75%              $14,072.76               37.49%               $13,095.91     $  120.70
 9                     55.13%              $14,776.40               43.07%               $13,627.60     $  125.60
 10                    62.89%              $15,515.22               48.88%               $14,180.88     $  130.70

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 5,990.22
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 4,655.88
TOTAL ANNUAL FEES AND EXPENSES                                                                          $1,574.85
</TABLE>

<page>



COLUMBIA SHORT TERM BOND FUND, INC. - B

                              ANNUAL EXPENSE RATIO
                                      1.69%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
  1                     5.00%              $10,500.00                3.31%               $10,331.00     $  171.80
  2                    10.25%              $11,025.00                6.73%               $10,672.96     $  177.48
  3                    15.76%              $11,576.25               10.26%               $11,026.23     $  183.36
  4                    21.55%              $12,155.06               13.91%               $11,391.20     $  189.43
  5                    27.63%              $12,762.82               17.68%               $11,768.25     $  195.70
  6                    34.01%              $13,400.96               21.58%               $12,157.78     $  202.17
  7                    40.71%              $14,071.00               25.60%               $12,560.20     $  208.87
  8                    47.75%              $14,774.55               29.76%               $12,975.94     $  215.78
  9                    55.13%              $15,513.28               35.03%               $13,502.77     $  124.45
  10                   62.89%              $16,288.95               40.51%               $14,050.98     $  129.50

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 4,050.98
TOTAL ANNUAL FEES AND EXPENSES                                                                          $1,798.54
</TABLE>

COLUMBIA SHORT TERM BOND FUND, INC. - C

                              ANNUAL EXPENSE RATIO
                                      1.69%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                3.31%               $10,331.00     $  171.80
 2                     10.25%              $11,025.00                6.73%               $10,672.96     $  177.48
 3                     15.76%              $11,576.25               10.26%               $11,026.23     $  183.36
 4                     21.55%              $12,155.06               13.91%               $11,391.20     $  189.43
 5                     27.63%              $12,762.82               17.68%               $11,768.25     $  195.70
 6                     34.01%              $13,400.96               21.58%               $12,157.78     $  202.17
 7                     40.71%              $14,071.00               25.60%               $12,560.20     $  208.87
 8                     47.75%              $14,774.55               29.76%               $12,975.94     $  215.78
 9                     55.13%              $15,513.28               34.05%               $13,405.45     $  222.92
 10                    62.89%              $16,288.95               38.49%               $13,849.17     $  230.30

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 3,849.17
TOTAL ANNUAL FEES AND EXPENSES                                                                          $1,997.81
</TABLE>

<page>



COLUMBIA SHORT TERM BOND FUND, INC. - D

                              ANNUAL EXPENSE RATIO
                                      1.69%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                3.31%               $10,331.00     $  171.80
 2                     10.25%              $11,025.00                6.73%               $10,672.96     $  177.48
 3                     15.76%              $11,576.25               10.26%               $11,026.23     $  183.36
 4                     21.55%              $12,155.06               13.91%               $11,391.20     $  189.43
 5                     27.63%              $12,762.82               17.68%               $11,768.25     $  195.70
 6                     34.01%              $13,400.96               21.58%               $12,157.78     $  202.17
 7                     40.71%              $14,071.00               25.60%               $12,560.20     $  208.87
 8                     47.75%              $14,774.55               29.76%               $12,975.94     $  215.78
 9                     55.13%              $15,513.28               34.05%               $13,405.45     $  222.92
 10                    62.89%              $16,288.95               38.49%               $13,849.17     $  230.30

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 3,849.17
TOTAL ANNUAL FEES AND EXPENSES                                                                          $1,997.81
</TABLE>

COLUMBIA SHORT TERM BOND FUND, INC. - G

                              ANNUAL EXPENSE RATIO
                                      1.49%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                3.51%               $10,351.00     $  151.61
 2                     10.25%              $11,025.00                7.14%               $10,714.32     $  156.94
 3                     15.76%              $11,576.25               10.90%               $11,090.39     $  162.45
 4                     21.55%              $12,155.06               14.80%               $11,479.67     $  168.15
 5                     27.63%              $12,762.82               18.83%               $11,882.60     $  174.05
 6                     34.01%              $13,400.96               23.00%               $12,299.68     $  180.16
 7                     40.71%              $14,071.00               27.31%               $12,731.40     $  186.48
 8                     47.75%              $14,774.55               31.78%               $13,178.27     $  193.03
 9                     55.13%              $15,513.28               37.26%               $13,726.49     $  113.00
 10                    62.89%              $16,288.95               42.98%               $14,297.51     $  117.70

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 4,297.51
TOTAL ANNUAL FEES AND EXPENSES                                                                          $1,603.57
</TABLE>

<page>



COLUMBIA SHORT TERM BOND FUND, INC. - T

                              ANNUAL EXPENSE RATIO
                                      0.84%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,001.25                4.16%               $ 9,921.24     $  556.67
 2                     10.25%              $10,501.31                8.49%               $10,333.96     $   85.07
 3                     15.76%              $11,026.38               13.01%               $10,763.86     $   88.61
 4                     21.55%              $11,577.70               17.71%               $11,211.63     $   92.30
 5                     27.63%              $12,156.58               22.60%               $11,678.04     $   96.14
 6                     34.01%              $12,764.41               27.70%               $12,163.84     $  100.14
 7                     40.71%              $13,402.63               33.02%               $12,669.86     $  104.30
 8                     47.75%              $14,072.76               38.55%               $13,196.93     $  108.64
 9                     55.13%              $14,776.40               44.31%               $13,745.92     $  113.16
 10                    62.89%              $15,515.22               50.32%               $14,317.75     $  117.87

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 5,990.22
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 4,792.75
TOTAL ANNUAL FEES AND EXPENSES                                                                          $1,462.90
</TABLE>

COLUMBIA SHORT TERM BOND FUND, INC. - Z

                              ANNUAL EXPENSE RATIO
                                      0.69%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                4.31%               $10,431.00     $  70.49
 2                     10.25%              $11,025.00                8.81%               $10,880.58     $  73.52
 3                     15.76%              $11,576.25               13.50%               $11,349.53     $  76.69
 4                     21.55%              $12,155.06               18.39%               $11,838.69     $  80.00
 5                     27.63%              $12,762.82               23.49%               $12,348.94     $  83.45
 6                     34.01%              $13,400.96               28.81%               $12,881.18     $  87.04
 7                     40.71%              $14,071.00               34.36%               $13,436.36     $  90.80
 8                     47.75%              $14,774.55               40.15%               $14,015.47     $  94.71
 9                     55.13%              $15,513.28               46.20%               $14,619.53     $  98.79
 10                    62.89%              $16,288.95               52.50%               $15,249.64     $ 103.05

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 5,249.64
TOTAL ANNUAL FEES AND EXPENSES                                                                          $ 858.54
</TABLE>

<page>



COLUMBIA SMALL CAP GROWTH FUND, INC. - Z

                              ANNUAL EXPENSE RATIO
                                      1.02%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                3.98%               $10,398.00     $  104.03
 2                     10.25%              $11,025.00                8.12%               $10,811.84     $  108.17
 3                     15.76%              $11,576.25               12.42%               $11,242.15     $  112.48
 4                     21.55%              $12,155.06               16.90%               $11,689.59     $  116.95
 5                     27.63%              $12,762.82               21.55%               $12,154.83     $  121.61
 6                     34.01%              $13,400.96               26.39%               $12,638.60     $  126.45
 7                     40.71%              $14,071.00               31.42%               $13,141.61     $  131.48
 8                     47.75%              $14,774.55               36.65%               $13,664.65     $  136.71
 9                     55.13%              $15,513.28               42.09%               $14,208.50     $  142.15
 10                    62.89%              $16,288.95               47.74%               $14,774.00     $  147.81

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 4,774.00
TOTAL ANNUAL FEES AND EXPENSES                                                                          $1,247.84
</TABLE>

COLUMBIA MID CAP GROWTH FUND, INC. - A

                              ANNUAL EXPENSE RATIO
                                      1.36%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $ 9,896.25                3.64%               $ 9,768.07     $  705.51
 2                     10.25%              $10,391.06                7.41%               $10,123.63     $  135.26
 3                     15.76%              $10,910.62               11.32%               $10,492.13     $  140.19
 4                     21.55%              $11,456.15               15.37%               $10,874.04     $  145.29
 5                     27.63%              $12,028.95               19.57%               $11,269.86     $  150.58
 6                     34.01%              $12,630.40               23.93%               $11,680.08     $  156.06
 7                     40.71%              $13,261.92               28.44%               $12,105.23     $  161.74
 8                     47.75%              $13,925.02               33.11%               $12,545.86     $  167.63
 9                     55.13%              $14,621.27               37.96%               $13,002.53     $  173.73
 10                    62.89%              $15,352.33               42.98%               $13,475.83     $  180.05

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 5,927.33
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 4,050.83
TOTAL ANNUAL FEES AND EXPENSES                                                                          $2,116.04
</TABLE>

<page>



COLUMBIA MID CAP GROWTH FUND, INC. - B

                              ANNUAL EXPENSE RATIO
                                      2.11%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                2.89%               $10,289.00     $  214.05
 2                     10.25%              $11,025.00                5.86%               $10,586.35     $  220.23
 3                     15.76%              $11,576.25                8.92%               $10,892.30     $  226.60
 4                     21.55%              $12,155.06               12.07%               $11,207.09     $  233.15
 5                     27.63%              $12,762.82               15.31%               $11,530.97     $  239.89
 6                     34.01%              $13,400.96               18.64%               $11,864.21     $  246.82
 7                     40.71%              $14,071.00               22.07%               $12,207.09     $  253.95
 8                     47.75%              $14,774.55               25.60%               $12,559.88     $  261.29
 9                     55.13%              $15,513.28               30.17%               $13,017.06     $  173.92
 10                    62.89%              $16,288.95               34.91%               $13,490.88     $  180.25

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 3,490.88
TOTAL ANNUAL FEES AND EXPENSES                                                                          $2,250.15
</TABLE>

COLUMBIA MID CAP GROWTH FUND, INC. - C

                              ANNUAL EXPENSE RATIO
                                      2.11%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                2.89%               $10,289.00     $  214.05
 2                     10.25%              $11,025.00                5.86%               $10,586.35     $  220.23
 3                     15.76%              $11,576.25                8.92%               $10,892.30     $  226.60
 4                     21.55%              $12,155.06               12.07%               $11,207.09     $  233.15
 5                     27.63%              $12,762.82               15.31%               $11,530.97     $  239.89
 6                     34.01%              $13,400.96               18.64%               $11,864.21     $  246.82
 7                     40.71%              $14,071.00               22.07%               $12,207.09     $  253.95
 8                     47.75%              $14,774.55               25.60%               $12,559.88     $  261.29
 9                     55.13%              $15,513.28               29.23%               $12,922.86     $  268.84
 10                    62.89%              $16,288.95               32.96%               $13,296.33     $  276.61

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 3,296.33
TOTAL ANNUAL FEES AND EXPENSES                                                                          $2,441.43
</TABLE>

<page>



COLUMBIA MID CAP GROWTH FUND, INC. - D

                              ANNUAL EXPENSE RATIO
                                      2.11%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                2.89%               $10,289.00     $  214.05
 2                     10.25%              $11,025.00                5.86%               $10,586.35     $  220.23
 3                     15.76%              $11,576.25                8.92%               $10,892.30     $  226.60
 4                     21.55%              $12,155.06               12.07%               $11,207.09     $  233.15
 5                     27.63%              $12,762.82               15.31%               $11,530.97     $  239.89
 6                     34.01%              $13,400.96               18.64%               $11,864.21     $  246.82
 7                     40.71%              $14,071.00               22.07%               $12,207.09     $  253.95
 8                     47.75%              $14,774.55               25.60%               $12,559.88     $  261.29
 9                     55.13%              $15,513.28               29.23%               $12,922.86     $  268.84
 10                    62.89%              $16,288.95               32.96%               $13,296.33     $  276.61

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 3,296.33
TOTAL ANNUAL FEES AND EXPENSES                                                                          $2,441.43
</TABLE>

COLUMBIA MID CAP GROWTH FUND, INC. - G

                              ANNUAL EXPENSE RATIO
                                      2.06%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                2.94%               $10,294.00     $  209.03
 2                     10.25%              $11,025.00                5.97%               $10,596.64     $  215.17
 3                     15.76%              $11,576.25                9.08%               $10,908.18     $  221.50
 4                     21.55%              $12,155.06               12.29%               $11,228.89     $  228.01
 5                     27.63%              $12,762.82               15.59%               $11,559.01     $  234.72
 6                     34.01%              $13,400.96               18.99%               $11,898.85     $  241.62
 7                     40.71%              $14,071.00               22.49%               $12,248.68     $  248.72
 8                     47.75%              $14,774.55               26.09%               $12,608.79     $  256.03
 9                     55.13%              $15,513.28               30.61%               $13,061.44     $  180.98
 10                    62.89%              $16,288.95               35.30%               $13,530.35     $  187.47

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 3,530.35
TOTAL ANNUAL FEES AND EXPENSES                                                                          $2,223.25
</TABLE>

<page>



COLUMBIA MID CAP GROWTH FUND, INC. - T

                              ANNUAL EXPENSE RATIO
                                      1.41%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $ 9,896.25                3.59%               $ 9,763.36     $  710.28
 2                     10.25%              $10,391.06                7.31%               $10,113.86     $  140.13
 3                     15.76%              $10,910.62               11.16%               $10,476.95     $  145.17
 4                     21.55%              $11,456.15               15.15%               $10,853.07     $  150.38
 5                     27.63%              $12,028.95               19.29%               $11,242.70     $  155.78
 6                     34.01%              $12,630.40               23.57%               $11,646.31     $  161.37
 7                     40.71%              $13,261.92               28.00%               $12,064.41     $  167.16
 8                     47.75%              $13,925.02               32.60%               $12,497.53     $  173.16
 9                     55.13%              $14,621.27               37.36%               $12,946.19     $  179.38
 10                    62.89%              $15,352.33               42.29%               $13,410.95     $  185.82

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 5,927.33
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 3,985.95
TOTAL ANNUAL FEES AND EXPENSES                                                                          $2,168.63
</TABLE>

COLUMBIA MID CAP GROWTH FUND, INC. - Z

                              ANNUAL EXPENSE RATIO
                                      1.11%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                3.89%               $10,389.00     $  113.16
 2                     10.25%              $11,025.00                7.93%               $10,793.13     $  117.56
 3                     15.76%              $11,576.25               12.13%               $11,212.98     $  122.13
 4                     21.55%              $12,155.06               16.49%               $11,649.17     $  126.88
 5                     27.63%              $12,762.82               21.02%               $12,102.32     $  131.82
 6                     34.01%              $13,400.96               25.73%               $12,573.10     $  136.95
 7                     40.71%              $14,071.00               30.62%               $13,062.20     $  142.28
 8                     47.75%              $14,774.55               35.70%               $13,570.32     $  147.81
 9                     55.13%              $15,513.28               40.98%               $14,098.20     $  153.56
 10                    62.89%              $16,288.95               46.47%               $14,646.62     $  159.53

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 4,646.62
TOTAL ANNUAL FEES AND EXPENSES                                                                          $1,351.68
</TABLE>

<page>



COLUMBIA STRATEGIC INVESTOR FUND, INC. - A

                              ANNUAL EXPENSE RATIO
                                      1.30%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $ 9,896.25                3.70%               $ 9,773.72     $  699.79
 2                     10.25%              $10,391.06                7.54%               $10,135.35     $  129.41
 3                     15.76%              $10,910.62               11.52%               $10,510.36     $  134.20
 4                     21.55%              $11,456.15               15.64%               $10,899.24     $  139.16
 5                     27.63%              $12,028.95               19.92%               $11,302.52     $  144.31
 6                     34.01%              $12,630.40               24.36%               $11,720.71     $  149.65
 7                     40.71%              $13,261.92               28.96%               $12,154.38     $  155.19
 8                     47.75%              $13,925.02               33.73%               $12,604.09     $  160.93
 9                     55.13%              $14,621.27               38.68%               $13,070.44     $  166.88
 10                    62.89%              $15,352.33               43.81%               $13,554.04     $  173.06

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 5,927.33
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 4,129.04
TOTAL ANNUAL FEES AND EXPENSES                                                                          $2,052.58
</TABLE>

COLUMBIA STRATEGIC INVESTOR FUND, INC. - B

                              ANNUAL EXPENSE RATIO
                                      2.05%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                2.95%               $10,295.00     $  208.02
 2                     10.25%              $11,025.00                5.99%               $10,598.70     $  214.16
 3                     15.76%              $11,576.25                9.11%               $10,911.36     $  220.48
 4                     21.55%              $12,155.06               12.33%               $11,233.25     $  226.98
 5                     27.63%              $12,762.82               15.65%               $11,564.63     $  233.68
 6                     34.01%              $13,400.96               19.06%               $11,905.79     $  240.57
 7                     40.71%              $14,071.00               22.57%               $12,257.01     $  247.67
 8                     47.75%              $14,774.55               26.19%               $12,618.59     $  254.97
 9                     55.13%              $15,513.28               30.85%               $13,085.48     $  167.08
 10                    62.89%              $16,288.95               35.70%               $13,569.64     $  173.26

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 3,569.64
TOTAL ANNUAL FEES AND EXPENSES                                                                          $2,186.87
</TABLE>

<page>



COLUMBIA STRATEGIC INVESTOR FUND, INC. - C

                              ANNUAL EXPENSE RATIO
                                      2.05%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                2.95%               $10,295.00     $  208.02
 2                     10.25%              $11,025.00                5.99%               $10,598.70     $  214.16
 3                     15.76%              $11,576.25                9.11%               $10,911.36     $  220.48
 4                     21.55%              $12,155.06               12.33%               $11,233.25     $  226.98
 5                     27.63%              $12,762.82               15.65%               $11,564.63     $  233.68
 6                     34.01%              $13,400.96               19.06%               $11,905.79     $  240.57
 7                     40.71%              $14,071.00               22.57%               $12,257.01     $  247.67
 8                     47.75%              $14,774.55               26.19%               $12,618.59     $  254.97
 9                     55.13%              $15,513.28               29.91%               $12,990.84     $  262.50
 10                    62.89%              $16,288.95               33.74%               $13,374.07     $  270.24

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 3,374.07
TOTAL ANNUAL FEES AND EXPENSES                                                                          $2,379.27
</TABLE>

COLUMBIA STRATEGIC INVESTOR FUND, INC. - D

                              ANNUAL EXPENSE RATIO
                                      2.05%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                2.95%               $10,295.00     $  208.02
 2                     10.25%              $11,025.00                5.99%               $10,598.70     $  214.16
 3                     15.76%              $11,576.25                9.11%               $10,911.36     $  220.48
 4                     21.55%              $12,155.06               12.33%               $11,233.25     $  226.98
 5                     27.63%              $12,762.82               15.65%               $11,564.63     $  233.68
 6                     34.01%              $13,400.96               19.06%               $11,905.79     $  240.57
 7                     40.71%              $14,071.00               22.57%               $12,257.01     $  247.67
 8                     47.75%              $14,774.55               26.19%               $12,618.59     $  254.97
 9                     55.13%              $15,513.28               29.91%               $12,990.84     $  262.50
 10                    62.89%              $16,288.95               33.74%               $13,374.07     $  270.24

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 3,374.07
TOTAL ANNUAL FEES AND EXPENSES                                                                          $2,379.27
</TABLE>

<page>



COLUMBIA STRATEGIC INVESTOR FUND, INC. - Z

                              ANNUAL EXPENSE RATIO
                                      1.05%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                3.95%               $10,395.00     $  107.07
 2                     10.25%              $11,025.00                8.06%               $10,805.60     $  111.30
 3                     15.76%              $11,576.25               12.32%               $11,232.42     $  115.70
 4                     21.55%              $12,155.06               16.76%               $11,676.10     $  120.27
 5                     27.63%              $12,762.82               21.37%               $12,137.31     $  125.02
 6                     34.01%              $13,400.96               26.17%               $12,616.73     $  129.96
 7                     40.71%              $14,071.00               31.15%               $13,115.10     $  135.09
 8                     47.75%              $14,774.55               36.33%               $13,633.14     $  140.43
 9                     55.13%              $15,513.28               41.72%               $14,171.65     $  145.98
 10                    62.89%              $16,288.95               47.31%               $14,731.43     $  151.74

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 4,731.43
TOTAL ANNUAL FEES AND EXPENSES                                                                          $1,282.56
</TABLE>

COLUMBIA TECHNOLOGY FUND, INC. - A

                              ANNUAL EXPENSE RATIO
                                      2.26%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $ 9,896.25                2.74%               $ 9,683.25     $  790.92
 2                     10.25%              $10,391.06                5.56%               $ 9,948.57     $  221.84
 3                     15.76%              $10,910.62                8.45%               $10,221.16     $  227.92
 4                     21.55%              $11,456.15               11.42%               $10,501.22     $  234.16
 5                     27.63%              $12,028.95               14.47%               $10,788.95     $  240.58
 6                     34.01%              $12,630.40               17.61%               $11,084.57     $  247.17
 7                     40.71%              $13,261.92               20.83%               $11,388.28     $  253.94
 8                     47.75%              $13,925.02               24.14%               $11,700.32     $  260.90
 9                     55.13%              $14,621.27               27.54%               $12,020.91     $  268.05
 10                    62.89%              $15,352.33               31.04%               $12,350.28     $  275.39

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 5,927.33
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 2,925.28
TOTAL ANNUAL FEES AND EXPENSES                                                                          $3,020.87
</TABLE>

<page>



COLUMBIA TECHNOLOGY FUND, INC. - B

                              ANNUAL EXPENSE RATIO
                                      3.01%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                1.99%               $10,199.00     $  303.99
 2                     10.25%              $11,025.00                4.02%               $10,401.96     $  310.04
 3                     15.76%              $11,576.25                6.09%               $10,608.96     $  316.21
 4                     21.55%              $12,155.06                8.20%               $10,820.08     $  322.51
 5                     27.63%              $12,762.82               10.35%               $11,035.40     $  328.92
 6                     34.01%              $13,400.96               12.55%               $11,255.00     $  335.47
 7                     40.71%              $14,071.00               14.79%               $11,478.98     $  342.15
 8                     47.75%              $14,774.55               17.07%               $11,707.41     $  348.96
 9                     55.13%              $15,513.28               20.28%               $12,028.19     $  268.21
 10                    62.89%              $16,288.95               23.58%               $12,357.76     $  275.56

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 2,357.76
TOTAL ANNUAL FEES AND EXPENSES                                                                          $3,152.02
</TABLE>

COLUMBIA TECHNOLOGY FUND, INC. - C

                              ANNUAL EXPENSE RATIO
                                      3.01%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                1.99%               $10,199.00     $  303.99
 2                     10.25%              $11,025.00                4.02%               $10,401.96     $  310.04
 3                     15.76%              $11,576.25                6.09%               $10,608.96     $  316.21
 4                     21.55%              $12,155.06                8.20%               $10,820.08     $  322.51
 5                     27.63%              $12,762.82               10.35%               $11,035.40     $  328.92
 6                     34.01%              $13,400.96               12.55%               $11,255.00     $  335.47
 7                     40.71%              $14,071.00               14.79%               $11,478.98     $  342.15
 8                     47.75%              $14,774.55               17.07%               $11,707.41     $  348.96
 9                     55.13%              $15,513.28               19.40%               $11,940.38     $  355.90
 10                    62.89%              $16,288.95               21.78%               $12,178.00     $  362.98

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 2,178.00
TOTAL ANNUAL FEES AND EXPENSES                                                                          $3,327.13
</TABLE>

<page>



COLUMBIA TECHNOLOGY FUND, INC. - D

                              ANNUAL EXPENSE RATIO
                                      3.01%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                1.99%               $10,199.00     $  303.99
 2                     10.25%              $11,025.00                4.02%               $10,401.96     $  310.04
 3                     15.76%              $11,576.25                6.09%               $10,608.96     $  316.21
 4                     21.55%              $12,155.06                8.20%               $10,820.08     $  322.51
 5                     27.63%              $12,762.82               10.35%               $11,035.40     $  328.92
 6                     34.01%              $13,400.96               12.55%               $11,255.00     $  335.47
 7                     40.71%              $14,071.00               14.79%               $11,478.98     $  342.15
 8                     47.75%              $14,774.55               17.07%               $11,707.41     $  348.96
 9                     55.13%              $15,513.28               19.40%               $11,940.38     $  355.90
 10                    62.89%              $16,288.95               21.78%               $12,178.00     $  362.98

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 2,178.00
TOTAL ANNUAL FEES AND EXPENSES                                                                          $3,327.13
</TABLE>

COLUMBIA TECHNOLOGY FUND, INC. - Z

                              ANNUAL EXPENSE RATIO
                                      2.01%

<TABLE>
<CAPTION>
                  CUMULATIVE RETURN  HYPOTHETICAL YEAR-END                           HYPOTHETICAL YEAR   ANNUAL
                   BEFORE FEES AND       BALANCE BEFORE        CUMULATIVE RETURN     END BALANCE AFTER  FEES AND
YEAR                  EXPENSES         FEES AND EXPENSES    AFTER FEES AND EXPENSES  FEES AND EXPENSES  EXPENSES
<S>               <C>                <C>                    <C>                      <C>                <C>
 1                      5.00%              $10,500.00                2.99%               $10,299.00     $  204.00
 2                     10.25%              $11,025.00                6.07%               $10,606.94     $  210.10
 3                     15.76%              $11,576.25                9.24%               $10,924.09     $  216.39
 4                     21.55%              $12,155.06               12.51%               $11,250.72     $  222.86
 5                     27.63%              $12,762.82               15.87%               $11,587.11     $  229.52
 6                     34.01%              $13,400.96               19.34%               $11,933.57     $  236.38
 7                     40.71%              $14,071.00               22.90%               $12,290.38     $  243.45
 8                     47.75%              $14,774.55               26.58%               $12,657.87     $  250.73
 9                     55.13%              $15,513.28               30.36%               $13,036.34     $  258.23
 10                    62.89%              $16,288.95               34.26%               $13,426.12     $  265.95

TOTAL GAIN BEFORE FEES AND EXPENSES        $ 6,288.95
TOTAL GAIN AFTER FEES AND EXPENSES                                                       $ 3,426.12
TOTAL ANNUAL FEES AND EXPENSES                                                                          $2,337.61
</TABLE>

SUP-47/88136-0605                                             June 30, 20005
</TEXT>
</DOCUMENT>