497 1 cfst_z.txt CFST I CLASS Z MINIMUM BALANCE WRAP WAIVER COLUMBIA FUNDS SERIES TRUST I Columbia Balanced Fund Columbia Small Cap Core Fund Columbia Income Fund Columbia Conservative High Yield Fund Columbia Intermediate Bond Fund Columbia Federal Securities Fund Columbia U.S. Treasury Index Fund Columbia Greater China Fund Columbia California Tax-Exempt Fund Columbia International Stock Fund Columbia Connecticut Intermediate Municipal Bond Columbia Mid Cap Growth Fund Columbia Oregon Intermediate Municipal Bond Fund Columbia Core Bond Fund Columbia Real Estate Equity Fund Columbia Intermediate Municipal Bond Fund Columbia Small Cap Growth Fund I Columbia Massachusetts Intermediate Municipal Bond Columbia Strategic Investor Fund Columbia Technology Fund Columbia High Yield Opportunity Fund Columbia New Jersey Intermediate Municipal Bond Fund Columbia Strategic Income Fund Columbia New York Intermediate Municipal Bond Fund Columbia Asset Allocation Fund Columbia Common Stock Fund Columbia Rhode Island Intermediate Municipal Bond Columbia High Yield Municipal Fund Columbia Disciplined Value Fund Columbia Small Cap Value Fund I Columbia Dividend Income Fund Columbia Large Cap Growth Fund Columbia Liberty Fund Columbia Tax-Exempt Fund Supplement to the Prospectuses March 2, 2007 Prospectuses for Class Z shares of the above referenced funds, as applicable, are hereby supplemented as follows: The bulleted list under the heading "No minimum initial investment" contained within the section "Your Account - Eligible Investors" is hereby amended with the addition of the following language: o Any investor participating in a wrap program sponsored by an intermediary or other entity that is paid an asset-based fee by the investor and that is not compensated by the Fund for those services, other than payments for shareholder servicing or sub-accounting performed in place of the Fund's transfer agent; INT-47/128427-0307