COLUMBIA FUNDS SERIES TRUST

COLUMBIA FUNDS SERIES TRUST I

Supplement dated February 1, 2010

to the Prospectuses listed below

Columbia California Tax-Exempt Fund Columbia Connecticut Intermediate Municipal Bond Fund Columbia Connecticut Tax-Exempt Fund Columbia Intermediate Municipal Bond Fund Columbia Massachusetts Intermediate Municipal Bond Fund Columbia Massachusetts Tax-Exempt Fund Columbia New Jersey Intermediate Municipal Bond Fund Columbia New York Intermediate Municipal Bond Fund Columbia New York Tax-Exempt Fund Columbia Rhode Island Intermediate Municipal Bond Supplement to the Prospectuses dated March 1, 2009, as supplemented   Columbia Tax-Exempt Fund Supplement to the Prospectuses dated April 1, 2009, as supplemented   Columbia Convertible Securities Fund Columbia Global Value Fund Columbia International Value Fund Columbia Large Cap Core Fund Columbia Large Cap Index Fund Columbia Marsico 21^st Century Fund Columbia Marsico Focused Equities Fund Columbia Marsico Global Fund Columbia Marsico Growth Fund Columbia Marsico International Opportunities Fund Columbia Mid Cap Index Fund Columbia Overseas Value Fund Columbia Small Cap Growth Fund II Columbia Small Cap Index Fund Columbia Small Cap Value Fund II Supplement to the Prospectuses dated July 1, 2009, as supplemented   Columbia Large Cap Enhanced Core Fund Columbia Large Cap Value Fund Columbia Mid Cap Value Fund Supplement to the Prospectuses dated July 1, 2009, as supplemented (Classes A, B, C, R and Z only, as applicable)   Columbia Asset Allocation Fund II Columbia Blended Equity Fund Columbia California Intermediate Municipal Bond Fund Columbia Emerging Markets Fund Columbia Energy and Natural Resources Fund Columbia Georgia Intermediate Municipal Bond Fund Columbia High Income Fund Columbia Income Fund Columbia Intermediate Bond Fund Columbia International Growth Fund Columbia LifeGoal^® Balanced Growth Portfolio Columbia LifeGoal^® Growth Portfolio Columbia LifeGoal^® Income and Growth Portfolio Columbia LifeGoal^® Income Portfolio Columbia Maryland Intermediate Municipal Bond Fund Columbia Masters International Equity Portfolio Columbia Mid Cap Core Fund Columbia North Carolina Intermediate Municipal Bond Fund Columbia Pacific/Asia Fund Columbia Select Large Cap Growth Fund Columbia Select Opportunities Fund Columbia Select Small Cap Fund Columbia Short-Intermediate Bond Fund Columbia Short Term Municipal Bond Fund Columbia South Carolina Intermediate Municipal Bond Fund Columbia Total Return Bond Fund Columbia U.S. Treasury Index Fund Columbia Value and Restructuring Fund Columbia Virginia Intermediate Municipal Bond Fund Columbia World Equity Fund Supplement to the Prospectuses dated August 1, 2009, as supplemented   Columbia Bond Fund Columbia Short Term Bond Fund Supplement to the Prospectuses dated August 1, 2009, as supplemented (Classes A, B, C and Z only, as applicable)   Columbia Core Bond Fund Supplement to the Prospectuses dated September 1, 2009, as supplemented   Columbia Multi-Advisor International Equity Fund Supplement to the Prospectuses dated September 11, 2009, as supplemented   Columbia High Yield Opportunity Fund Columbia International Bond Fund Columbia Strategic Income Fund Supplement to the Prospectuses dated October 1, 2009, as supplemented   Columbia High Yield Municipal Fund Supplement to the Prospectuses dated November 1, 2009, as supplemented   Columbia Small Cap Value Fund I Supplement to the Prospectuses dated November 1, 2009, as supplemented (Classes A, B, C and Z only, as applicable)   Columbia Balanced Fund Columbia Federal Securities Fund Columbia Greater China Fund Columbia Oregon Intermediate Municipal Bond Fund Columbia Real Estate Equity Fund Columbia Technology Fund Supplement to the Prospectuses dated January 1, 2010, as supplemented   Columbia Conservative High Yield Fund Columbia International Stock Fund Columbia Mid Cap Growth Fund Columbia Small Cap Growth Fund I Columbia Strategic Investor Fund Supplement to the Prospectuses dated January 1, 2010, as supplemented (Classes A, B, C, R, T and Z only, as applicable)

(Each a “Fund”)

For each Fund’s Prospectuses, within the section “Transaction Rules and Policies”, the sub-section “Exceptions to the Small Account Policy” is deleted and replaced in its entirety with the following, which includes the new sub-section “Small Account Policy – Broker/Dealer and Wrap Fee Accounts”:

Exceptions to the Above Small Account Policy (Accounts Below $250 and Minimum Balance Fee)

The automatic sale of shares of accounts under $250 and the annual minimum balance fee described previously do not apply to shareholders of Class R shares or shareholders holding their shares through broker/dealer networked accounts; wrap fee and omnibus accounts; accounts with active Systematic Investment Plans; and certain qualified retirement plans and health savings accounts. The automatic sale of shares of accounts under $250 does not apply to individual retirement plans.

Small Account Policy – Broker/Dealer and Wrap Fee Accounts

Columbia Funds may automatically redeem at any time broker/dealer networked accounts and wrap fee accounts that have account balances of $20 or less or have less than one share.

Shareholders should retain this Supplement for future reference.

INT-47/31857-0210