COLUMBIA BALANCED FUND, INC.
                       COLUMBIA MID CAP GROWTH FUND, INC.
                      COLUMBIA SMALL CAP GROWTH FUND, INC.
                     COLUMBIA REAL ESTATE EQUITY FUND, INC.
                     COLUMBIA INTERNATIONAL STOCK FUND, INC.
                         COLUMBIA TECHNOLOGY FUND, INC.
                     COLUMBIA STRATEGIC INVESTOR FUND, INC.
                          COLUMBIA DAILY INCOME COMPANY
                   COLUMBIA FIXED INCOME SECURITIES FUND, INC.
                       COLUMBIA SHORT TERM BOND FUND, INC.
                         COLUMBIA HIGH YIELD FUND, INC.
                    COLUMBIA OREGON MUNICIPAL BOND FUND, INC.
                   COLUMBIA NATIONAL MUNICIPAL BOND FUND, INC.
                        (each the "Fund" or the "Funds")

              SUPPLEMENT TO EACH FUND'S CURRENT CLASS Z PROSPECTUS


         The disclosure under the section entitled "ELIGIBLE INVESTORS" is
revised in its entirety as follows:

ELIGIBLE INVESTORS
------------------
Only Eligible Investors may purchase Class Z shares of a Fund, directly or by
exchange. Class Z shares of a Fund generally are available only to certain
"grandfathered" shareholders and to investors holding accounts with
intermediaries that assess account level fees for the services they provide.
Please read the following section for a more detailed description of the
eligibility requirements. The Eligible Investors described below are subject to
different minimum initial investment requirements.

IMPORTANT THINGS TO CONSIDER WHEN DECIDING ON A CLASS OF SHARES:

Broker-dealers, investment advisers or financial planners selling mutual fund
shares may offer their clients more than one class of shares in a Fund with
different pricing options. This allows you and your financial adviser to choose
among different types of sales charges and different levels of ongoing operating
expenses, depending on the investment programs your financial advisor offers.
Investors should consider carefully any separate transactions and other fees
charged by these programs in connection with investing in any available share
class before selecting a share class.

Eligibility for certain waivers, exemptions or share classes by new or existing
investors may not be readily available or accessible through all intermediaries
or all types of accounts offered by an intermediary. Accessibility of these
waivers through a particular intermediary may also change at any time. If you
believe you are eligible to purchase shares under a specific exemption, but are
not permitted by your intermediary to do so, please contact your intermediary.
You may be asked to provide information, including account statements and other
records, regarding your eligibility.

Eligible Investors and their applicable investment minimums are as follows:


NO MINIMUM INITIAL INVESTMENT

o Any client of Bank of America Corporation or a subsidiary purchasing shares
through an asset management company, trust, retirement plan administration or
similar arrangement with Bank of America Corporation or the subsidiary;

o Any group retirement plan, including defined benefit and defined contribution
plans such as: 401(k), 403(b), and 457(b) plans (but excluding individual
retirement accounts (IRAs)), for which an intermediary or other entity provides
services and is not compensated by the Funds for those services, other than
payments for shareholder servicing or sub-accounting performed in place of a
Fund's transfer agent;

o Any investor purchasing through a Columbia Management Group state tuition plan
organized under Section 529 of the Internal Revenue Code; or

o Any person investing all or part of the proceeds of a distribution, rollover
or transfer of assets into a Columbia Management Individual Retirement Account,
from any deferred compensation plan which was a shareholder of any of the funds
of Columbia Acorn Trust (formerly named Liberty Acorn Trust) on September 29,
2000, in which the investor was a participant and through which the investor
invested in one or more of the funds of Columbia Acorn Trust immediately prior
to the distribution, transfer or rollover.

$1,000 MINIMUM INITIAL INVESTMENT

o Any shareholder (as well as any family member of a shareholder or person
listed on an account registration for any account of the shareholder) of a fund
distributed by Columbia Funds Distributor, Inc. (CFDI) (i) who holds Class Z
shares; (ii) who holds Class A shares that were obtained by exchange of Class Z
shares; or (iii) who purchased certain no-load shares of a fund merged with a
fund distributed by CFDI;

o Any trustee or director (or family member of a trustee or director) of any
fund distributed by CFDI;

o Any employee (or family member of an employee) of Bank of America Corporation
or a subsidiary;

o Any investor participating in an account offered by an intermediary or other
entity that provides services to such an account, is paid an asset-based fee by
the investor and is not compensated by the Funds for those services, other than
payments for shareholder servicing or sub-accounting performed in place of the
Fund's transfer agent (each investor purchasing through an intermediary must
independently satisfy the $1,000 minimum investment requirement); or

o Any insurance company, trust company, bank, endowment, investment company or
foundation purchasing shares for its own account.


The Funds reserve the right to change the criteria for eligible investors and
the investment minimums. No minimum investment applies to accounts participating
in the automatic investment plan; however, each investment requires a $50
minimum purchase. The Funds also reserve the right to refuse a purchase order
for any reason, including if it believes that doing so would be in the best
interest of the Fund and its shareholders.


SUP-47/85630-0405                                                    May 2, 2005