COLUMBIA SPECIAL FUND, INC.
                                  (THE "FUND")


     SUPPLEMENT TO THE PROSPECTUSES AND STATEMENT OF ADDITIONAL INFORMATION

1.       On October 13, 2003 the name of the Fund will change to "Columbia Mid
         Cap Growth Fund, Inc."

2.       On October 13, 2003, Class D will be closed to all purchases, other
         than subsequent purchases by a Class D shareholder into an already
         existing Class D account. In the alternative, the Funds will offer
         Class C shares. Class C shares will have all the characteristics of
         Class D shares, but will be sold without the 1% sales charge currently
         applicable to Class D shares. On October 13, if you own a Fund's Class
         D shares in an account you will be able to purchase additional Class D
         shares in that Fund without a 1% sales charge. Subsequent exchanges
         into funds distributed by Liberty Funds Distributor, Inc. that you do
         not hold Class D shares will be permitted in Class C shares only. The
         reinvestment of dividends for Class D shareholders will still be
         accomplished by the issuance of Class D shares. The issuance of Class C
         shares have not been approved by the Boards of the Funds, have not been
         registered with the SEC and are not available for sale at this time.
         This notice does not constitute an offer for sale of Class C shares.

3.       Also on October 13, 2003:

         o    The website for the Fund will change from www.libertyfunds.com to
                                                        --------------------
              www.columbiafunds.com.
              ---------------------

         o    Liberty Funds Distributor, Inc. (the Fund's distributor) and
              Liberty Funds Services, Inc. (the Fund's transfer agent) will
              change their names to Columbia Funds Distributor, Inc. and
              Columbia Funds Services, Inc., respectively.

4.       The Advisor intends to replace the Russell Mid Cap Index with the
         Russell Mid Cap Growth Index as the primary benchmark for the Fund. The
         Advisor believes that the Russell Mid Cap Growth Index offers
         shareholders a more useful comparison of the Fund's relative
         performance than the Russell Mid Cap Index.







240-36/436P-0903                                                 October 3, 2003