COLUMBIA FUNDS SERIES TRUST
                      Columbia Marsico Mid Cap Growth Fund
                         Columbia Municipal Income Fund
                Columbia Florida Intermediate Municipal Bond Fund
                 Columbia Texas Intermediate Municipal Bond Fund
                      Columbia Intermediate Core Bond Fund
                    (each a "Fund" and together, the "Funds")

                         SUPPLEMENT DATED APRIL 25, 2006
             TO PROSPECTUSES DATED NOVEMBER 1, 2005, AS SUPPLEMENTED

The prospectuses for all share classes of the Funds are hereby supplemented by
adding the following bullet point paragraph and chart at the end of the section
entitled "ABOUT THE FUNDS -- OTHER IMPORTANT INFORMATION":

      -     PROPOSED REORGANIZATIONS - The Board of Trustees of Columbia Fund
            Series Trust has approved the reorganization of each Fund into a
            corresponding series of Columbia Funds Series Trust I (each an
            "Acquiring Fund" and together, the "Acquiring Funds"), as shown in
            the chart below. The principal effect of each reorganization would
            be to convert an investment in a Fund into an investment in an
            Acquiring Fund.

            Shareholders of each Fund will be asked to consider and vote on an
            Agreement and Plan of Reorganization at a special shareholder
            meeting currently expected to be held on or about September 6, 2006.
            If shareholder approval is obtained and the other conditions to the
            reorganizations are satisfied, it is anticipated that the
            reorganizations will take place in mid to late September 2006. At
            that time, Class A Shares, Class B Shares, Class C Shares and Class
            Z Shares of each Fund would be exchanged for shares of equal dollar
            value in an identical class of the corresponding Acquiring Fund as
            shown in the chart below.



THIS FUND:                                                WILL BE REORGANIZED INTO THIS ACQUIRING FUND:
----------                                                ---------------------------------------------
                                                    
Columbia Marsico Mid Cap Growth Fund                ->    Columbia Mid Cap Growth Fund
     Class A Shares                                           Class A Shares
     Class B Shares                                           Class B Shares
     Class C Shares                                           Class C Shares
     Class Z Shares                                           Class Z Shares

Columbia Municipal Income Fund                      ->    Columbia Tax-Exempt Fund
     Class A Shares                                           Class A Shares
     Class B Shares                                           Class B Shares
     Class C Shares                                           Class C Shares
     Class Z Shares                                           Class Z Shares

Columbia Florida Intermediate Municipal Bond Fund   ->    Columbia Intermediate Municipal Bond Fund
     Class A Shares                                           Class A Shares
     Class B Shares                                           Class B Shares
     Class C Shares                                           Class C Shares
     Class Z Shares                                           Class Z Shares

Columbia Texas Intermediate Municipal Bond Fund     />
     Class A Shares
     Class B Shares
     Class C Shares
     Class Z Shares




THIS FUND:                                                WILL BE REORGANIZED INTO THIS ACQUIRING FUND:
----------                                                ---------------------------------------------
                                                    

Columbia Intermediate Core Bond Fund                ->    Columbia Core Bond Fund
     Class A Shares                                           Class A Shares
     Class B Shares                                           Class B Shares
     Class C Shares                                           Class C Shares
     Class Z Shares                                           Class Z Shares



      -     CDSC WAIVER - The Board of Trustees of Columbia Funds Series Trust
            has also approved a waiver, effective July 3, 2006, of the
            contingent deferred sales charge ("CDSC") that would otherwise be
            imposed on redemptions of shares of Columbia Florida Intermediate
            Municipal Bond Fund and Columbia Texas Intermediate Municipal Bond
            Fund made prior to the reorganizations. The waiver will apply only
            to redemptions, not exchanges, and will apply only shares purchased
            prior to July 3, 2006 and redeemed prior to the reorganizations.

      The foregoing is not an offer to sell, nor a solicitation of an offer to
buy, shares of the Acquiring Funds, nor is it a solicitation of any proxy. For
more information regarding the Acquiring Funds, or to receive a free copy of a
combined prospectus/proxy statement relating to a proposed reorganization once a
registration statement relating to the proposed reorganizations has been filed
with the Securities and Exchange Commission and become effective, please call
1-800-345-6611 or visit www.columbiafunds.com. The prospectus/proxy statement
(when available) will contain important information about fees, expenses and
risk considerations. The prospectus/proxy statement will also be available for
free on the Securities and Exchange Commission's website (www.sec.gov). Please
read the prospectus/proxy statement carefully before making any investment
decisions.