COLUMBIA FUNDS SERIES TRUST
                            COLUMBIA HIGH INCOME FUND
                                  (THE "FUND")

                        SUPPLEMENT DATED FEBRUARY 6, 2006
                   TO THE PROSPECTUSES DATED NOVEMBER 1, 2005

         Effective immediately, the prospectuses for all share classes of the
Fund are hereby supplemented by changing all references to the Fund's investment
sub-adviser to reflect the following:

         o        J. Matthew Philo is the sole portfolio manager responsible for
                  making the day-to-day investment decisions for Columbia High
                  Income Fund.

         Accordingly, the prospectuses for all share classes of the Fund are
hereby also supplemented by removing all references to Donald E. Morgan
throughout the prospectuses.


SuP-47/106227-0206