COLUMBIA BALANCED FUND, INC.
                    COLUMBIA COMMON STOCK FUND, INC.
                     COLUMBIA DAILY INCOME COMPANY
                 COLUMBIA FIXED INCOME SECURITIES FUND, INC.
                       COLUMBIA GROWTH FUND, INC.
                      COLUMBIA HIGH YIELD FUND, INC.
                  COLUMBIA INTERNATIONAL STOCK FUND, INC.
                COLUMBIA NATIONAL MUNICIPAL BOND 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.

The Funds listed above are referred to collectively as the "Funds"

              SUPPLEMENT TO PROSPECTUSES DATED JANUARY 1, 2005
                 (Replacing Supplement dated January 1, 2005)


     As discussed in greater detail in earlier  supplements,  on March 15, 2004,
Columbia Management Advisors, Inc. ("Columbia Management"),  the Fund's adviser,
and Columbia  Funds  Distributor,  Inc.  ("CFD") the  distributor  of the Fund's
shares (collectively, "Columbia"), entered into agreements in principle with the
staff of the U.S.  Securities and Exchange  Commission ("SEC") and the Office of
the New York Attorney  General  ("NYAG") to resolve the  proceedings  brought in
connection  with the SEC's and NYAG's  investigations  of  frequent  trading and
market timing in certain Columbia mutual funds.

     On February 9, 2005,  Columbia entered into an Assurance of  Discontinuance
with  the  NYAG  (the  "NYAG  Settlement")  and  consented  to  the  entry  of a
cease-and-desist   order  by  the  SEC  (the  "SEC  Order"  and  together,   the
"Settlements").  The  Settlements  contain  substantially  the  same  terms  and
conditions as outlined in the agreements in principle.

     Under the terms of the SEC Order,  Columbia has agreed, among other things,
to: pay $70 million in  disgorgement  and $70 million in civil money  penalties;
cease and desist from  violations of the antifraud  provisions and certain other
provisions of the federal  securities  laws;  maintain  certain  compliance  and
ethics  oversight  structures;   retain  an  independent  consultant  to  review
Columbia's applicable  supervisory,  compliance,  control and other policies and
procedures;  and retain an independent  distribution consultant (see below). The
Funds have also voluntarily  undertaken to implement certain governance measures
designed to maintain the  independence  of their  boards of  trustees.  The NYAG
Settlement also, among other things, requires Columbia and its affiliates,  Banc
of  America  Capital  Management,  LLC and  BACAP  Distributors,  LLC to  reduce
Columbia Funds, Nations Funds and other mutual fund management fees collectively
by $32 million per year for five years, for a projected total of $160 million in
management fee reductions.

     Pursuant  to the  procedures  set forth in the SEC  Order,  the  settlement
amounts  will  be  distributed  in  accordance  with a  distribution  plan to be
developed by an independent distribution consultant who is acceptable to the SEC
staff and the Columbia Funds' independent  trustees.  The distribution plan must
be based on a methodology developed in consultation with Columbia and the Fund's
independent trustees and not unacceptable to the staff of the SEC. More specific
information on the distribution plan will be communicated at a later date.

     As a result of these matters or any adverse publicity or other developments
resulting from them,  including lawsuits brought by shareholders of the affected
Columbia  Funds,  there may be increased  redemptions  or reduced  sales of Fund
shares,  which could increase  transaction costs or operating expenses,  or have
other adverse consequences for the Columbia Funds.

A  copy  of  the  SEC  Order  will  be  available   on  the  SEC's   website  at
http://www.sec.gov.  A copy of the NYAG  Settlement will be available as part of
the Bank of America Corporation Form 8-K filing on or about February 10, 2005.








                                                             February 9, 2005