COLUMBIA COMMON STOCK FUND, INC.
                           COLUMBIA GROWTH FUND, INC.
                     COLUMBIA INTERNATIONAL STOCK FUND, INC.
                       COLUMBIA MID CAP GROWTH FUND, INC.
                      COLUMBIA SMALL CAP GROWTH FUND, INC.
                     COLUMBIA REAL ESTATE EQUITY FUND, INC.
                         COLUMBIA TECHNOLOGY FUND, INC.
                     COLUMBIA STRATEGIC INVESTOR FUND, INC.
                          COLUMBIA BALANCED FUND, INC.
                       COLUMBIA SHORT TERM BOND FUND, INC.
                   COLUMBIA FIXED INCOME SECURITIES FUND, INC.
                   COLUMBIA NATIONAL MUNICIPAL BOND FUND, INC.
                    COLUMBIA OREGON MUNICIPAL BOND FUND, INC.
                         COLUMBIA HIGH YIELD FUND, INC.
                          COLUMBIA DAILY INCOME COMPANY



                       Supplement to Current Prospectuses
               (Replacing the Supplement dated February 26, 2004)

1.   Columbia Management Advisors, Inc. ("CMA"), the Fund's adviser, and
Columbia Funds Distributor, Inc. ("CFDI") the distributor of the Fund's shares,
and certain of their affiliates (collectively, "Columbia") have received
information requests and subpoenas from various regulatory and law enforcement
authorities in connection with their investigations of late trading and market
timing in mutual funds. Columbia has not uncovered any instances where CMA or
CFDI were knowingly involved in late trading of mutual fund shares.

On February 24, 2004, the Securities and Exchange Commission ("SEC") filed a
civil complaint in the United States District Court for the District of
Massachusetts against CMA and CFDI, alleging that they had violated certain
provisions of the federal securities laws in connection with trading activity in
mutual fund shares. Also on February 24, 2004, the New York Attorney General
("NYAG") filed a civil complaint in New York Supreme Court, County of New York
against CMA and CFDI alleging that CMA and CFDI had violated certain New York
anti-fraud statutes. If either CMA or CFDI is unsuccessful in its defense of
these proceedings, it could be barred from serving as an investment adviser or
distributor for any investment company registered under the Investment Company
Act of 1940, as amended (a "registered investment company"). Such results could
affect the ability of CMA, CFDI or any company that is an affiliated person of
CMA and CFDI from serving as an investment adviser or distributor for any
registered investment company, including your fund. Your fund has been informed
by CMA and CFDI that, if these results occur, they will seek exemptive relief
from the SEC to permit them to continue to serve as your fund's investment
adviser and distributor. There is no assurance that such exemptive relief will
be granted. On March 15, 2004, CMA and CFDI entered into agreements in principle
with the SEC Division of Enforcement and NYAG in settlement of the charges.
Under the agreements, CMA and CFDI agreed, inter alia, to the following
conditions: payment of $70 million in disgorgement; payment of $70 million in
civil penalties; an order


requiring CMA and CFDI to cease and desist from violations of the antifraud
provisions and other provisions of the federal securities laws; governance
changes designed to maintain the independence of the mutual fund boards of
trustees and ensure compliance with securities laws and their fiduciary duties;
and retention of an independent consultant to review CMA's and CFDI's compliance
policies and procedures. The agreement requires the final approval of the SEC.
In a separate agreement with the NYAG, Columbia has agreed to reduce mutual fund
fees by $80 million over a five-year period.

As a result of these matters or any adverse publicity or other developments
resulting from them, 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 Funds.

2.   On April 1, 2004, FleetBoston Financial Corporation was acquired by Bank of
America Corporation. As a result of this acquisition, CMA and CFDI are now
indirect wholly-owned subsidiaries of Bank of America Corporation.



                                                                   April 5, 2004

COL-36/589R-0304