497 1 cfstifeecap.txt FEE CAP SUPPS COLUMBIA CONNECTICUT INTERMEDIATE MUNICIPAL BOND FUND COLUMBIA MASSACHUSETTS INTERMEDIATE MUNICIPAL BOND FUND COLUMBIA NEW JERSEY INTERMEDIATE MUNICIPAL BOND FUND COLUMBIA NEW YORK INTERMEDIATE MUNICIPAL BOND FUND COLUMBIA RHODE ISLAND INTERMEDIATE MUNICIPAL BOND FUND (the "Funds") Each a series of Columbia Funds Series Trust I Supplement to the Prospectus dated March 1, 2007 (Replacing the supplement dated November 1, 2007) Effective November 1, 2007, the following changes are made to the Class A, Class B and Class C Shares prospectus of the Funds: 1. For each Fund, in the section entitled "Your Expenses - Understanding Expenses" the paragraph "Example Expenses" is deleted in its entirety and replaced with the following: Example Expenses help you compare the cost of investing in the Fund to the cost of investing in other mutual funds. Except as noted, the table does not take into account any expense reduction arrangements discussed in the footnotes to the Annual Fund Operating Expenses table. It uses the following hypothetical conditions: . $10,000 initial investment . 5% total return for each year . Fund operating expenses remain the same . Reinvestment of all dividends and distributions . Class B shares convert to Class A shares after eight years Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table expire on February 28, 2009, they are only reflected in the first year of the 3, 5 and 10 year examples. 2. The tables entitled "Annual Fund Operating Expenses (deducted directly from Fund assets)" and "Example Expenses (your actual costs may be higher or lower)" are deleted in their entirety and replaced with the following: COLUMBIA CONNECTICUT INTERMEDIATE MUNICIPAL BOND FUND Annual Fund Operating Expenses (deducted directly from Fund assets) Class A Class B Class C ------- ------- ------- Management fee/(1)(2)/ (%) 0.55 0.55 0.55 Distribution and service (12b-1) fees (%) 0.25 1.00 1.00/(3)/ Other expenses/(4)/ (%) 0.28 0.28 0.28 Acquired fund fees and expenses/(5)/ -- -- -- Total annual fund operating expenses (%) 1.08 1.83 1.83/(3)/ Expense waiver/reimbursement/(6)/ (%) (0.33) (0.33) (0.33) Net expense ratio/(6)/ (%) 0.75 1.50 1.50/(3)/ /(1)/ The Fund pays a management fee of 0.48% and an administrative fee of 0.07%. /(2)/ The Fund's investment advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% for assets in excess of $6 billion. /(3)/ The Fund's distributor has voluntarily agreed to waive a portion of the 12b-1 fees for Class C shares. If this waiver were reflected in the table, the 12b-1 fees for Class C shares would be 0.65% and total annual fund operating expenses and net expense ratio for Class C shares would be 1.48% and 1.15%, respectively. This arrangement may be modified or terminated by the distributor at any time. /(4)/ Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. /(5)/ Amounts less than 0.01% are shown as dashes (-) in "Acquired fund fees and expenses" but are included in "Other expenses." /(6)/ The Fund's investment advisor has contractually agreed to bear a portion of the Fund's expenses so that the total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.50% of the Fund's average daily net assets through February 28, 2009. Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years --------------------------------- ------ ------- ------- -------- Class A $399 $626 $870 $1,571 Class B: did not sell your shares $153 $544 $960 $1,924 sold all your shares at the end of the period $453 $744 $960 $1,924 Class C: did not sell your shares $153 $544 $960 $2,121 sold all your shares at the end of the period $253 $544 $960 $2,121 See Appendix A for additional hypothetical investment and expense information. COLUMBIA MASSACHUSETTS INTERMEDIATE MUNICIPAL BOND FUND Annual Fund Operating Expenses (deducted directly from Fund assets) Class A Class B Class C ------- ------- ------- Management fee/(1)(2)/ (%) 0.55 0.55 0.55 Distribution and service (12b-1) fees (%) 0.25 1.00 1.00/(3)/ Other expenses/(4)/ (%) 0.23 0.23 0.23 Acquired fund fees and expenses/(5)/ -- -- -- Total annual fund operating expenses (%) 1.03 1.78 1.78/(3)/ Expense waiver/reimbursement/(6)/ (%) (0.28) (0.28) (0.28) Net expense ratio/(6)/ (%) 0.75 1.50 1.50/(3)/ /(1)/ The Fund pays a management fee of 0.48% and an administrative fee of 0.07%. /(2)/ The Fund's investment advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% for assets in excess of $6 billion. /(3)/ The Fund's distributor has voluntarily agreed to waive a portion of the 12b-1 fees for Class C shares. If this waiver were reflected in the table, the 12b-1 fees for Class C shares would be 0.65% and total annual fund operating expenses and net expense ratio for Class C shares would be 1.43% and 1.15%, respectively. This arrangement may be modified or terminated by the distributor at any time. /(4)/ Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. /(5)/ Amounts less than 0.01% are shown as dashes (-) in "Acquired fund fees and expenses" but are included in "Other expenses." /(6)/ The Fund's investment advisor has contractually agreed to bear a portion of the Fund's expenses so that the total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.50% of the Fund's average daily net assets through February 28, 2009. Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years --------------------------------- ------ ------- ------- -------- Class A $399 $615 $849 $1,519 Class B: did not sell your shares $153 $533 $938 $1,873 sold all your shares at the end of the period $453 $733 $938 $1,873 Class C: did not sell your shares $153 $533 $938 $2,072 sold all your shares at the end of the period $253 $533 $938 $2,072 See Appendix A for additional hypothetical investment and expense information. COLUMBIA NEW JERSEY INTERMEDIATE MUNICIPAL BOND FUND Annual Fund Operating Expenses (deducted directly from Fund assets) Class A Class B Class C ------- ------- ------- Management fee/(1)(2)/ (%) 0.55 0.55 0.55 Distribution and service (12b-1) fees (%) 0.25 1.00 1.00/(3)/ Other expenses/(4)/ (%) 0.46 0.46 0.46 Acquired fund fees and expenses/(5)/ -- -- -- Total annual fund operating expenses (%) 1.26 2.01 2.01/(3)/ Expense waiver/reimbursement/(6)/ (%) (0.51) (0.51) (0.51) Net expense ratio/(6)/ (%) 0.75 1.50 1.50/(3)/ /(1)/ The Fund pays a management fee of 0.48% and an administrative fee of 0.07%. /(2)/ The Fund's investment advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% for assets in excess of $6 billion. /(3)/ The Fund's distributor has voluntarily agreed to waive a portion of the 12b-1 fees for Class C shares. If this waiver were reflected in the table, the 12b-1 fees for Class C shares would be 0.65% and total annual fund operating expenses and net expense ratio for Class C shares would be 1.66% and 1.15%, respectively. This arrangement may be modified or terminated by the distributor at any time. /(4)/ Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. /(5)/ Amounts less than 0.01% are shown as dashes (-) in "Acquired fund fees and expenses" but are included in "Other expenses." /(6)/ The Fund's investment advisor has contractually agreed to bear a portion of the Fund's expenses so that the total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.50% of the Fund's average daily net assets through February 28, 2009. Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years --------------------------------- ------ ------- ------- -------- Class A $399 $663 $ 947 $1,755 Class B: did not sell your shares $153 $581 $1,036 $2,103 sold all your shares at the end of the period $453 $781 $1,036 $2,103 Class C: did not sell your shares $153 $581 $1,036 $2,297 sold all your shares at the end of the period $253 $581 $1,036 $2,297 See Appendix A for additional hypothetical investment and expense information. COLUMBIA NEW YORK INTERMEDIATE MUNICIPAL BOND FUND Annual Fund Operating Expenses (deducted directly from Fund assets) Class A Class B Class C ------- ------- ------- Management fee/(1)(2)/ (%) 0.55 0.55 0.55 Distribution and service (12b-1) fees (%) 0.25 1.00 1.00/(3)/ Other expenses/(4)/ (%) 0.35 0.35 0.35 Acquired fund fees and expenses/(5)/ -- -- -- Total annual fund operating expenses (%) 1.15 1.90 1.90/(3)/ Expense waiver/reimbursement/(6)/ (%) (0.40) (0.40) (0.40) Net expense ratio/(6)/ (%) 0.75 1.50 1.50/(3)/ /(1)/ The Fund pays a management fee of 0.48% and an administrative fee of 0.07%. /(2)/ The Fund's investment advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% for assets in excess of $6 billion. /(3)/ The Fund's distributor has voluntarily agreed to waive a portion of the 12b-1 fees for Class C shares. If this waiver were reflected in the table, the 12b-1 fees for Class C shares would be 0.65% and total annual fund operating expenses and net expense ratio for Class C shares would be 1.55% and 1.15%, respectively. This arrangement may be modified or terminated by the distributor at any time. /(4)/ Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. /(5)/ Amounts less than 0.01% are shown as dashes (-) in "Acquired fund fees and expenses" but are included in "Other expenses." /(6)/ The Fund's investment advisor has contractually agreed to bear a portion of the Fund's expenses so that the total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.50% of the Fund's average daily net assets through February 28, 2009. Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years --------------------------------- ------ ------- ------- -------- Class A $399 $640 $900 $1,643 Class B: did not sell your shares $153 $558 $989 $1,994 sold all your shares at the end of the period $453 $758 $989 $1,994 Class C: did not sell your shares $153 $558 $989 $2,190 sold all your shares at the end of the period $253 $558 $989 $2,190 See Appendix A for additional hypothetical investment and expense information. COLUMBIA RHODE ISLAND INTERMEDIATE MUNICIPAL BOND FUND Annual Fund Operating Expenses (deducted directly from Fund assets) Class A Class B Class C ------- ------- ------- Management fee/(1)(2)/ (%) 0.55 0.55 0.55 Distribution and service (12b-1) fees (%) 0.25 1.00 1.00/(3)/ Other expenses/(4)/ (%) 0.31 0.31 0.31 Acquired fund fees and expenses/(5)/ -- -- -- Total annual fund operating expenses (%) 1.11 1.86 1.86/(3)/ Expense waiver/reimbursement/(6)/ (%) (0.36) (0.36) (0.36) Net expense ratio/(6)/ (%) 0.75 1.50 1.50/(3)/ /(1)/ The Fund pays a management fee of 0.48% and an administrative fee of 0.07%. /(2)/ The Fund's investment advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% for assets in excess of $6 billion. /(3)/ The Fund's distributor has voluntarily agreed to waive a portion of the 12b-1 fees for Class C shares. If this waiver were reflected in the table, the 12b-1 fees for Class C shares would be 0.65% and total annual fund operating expenses and net expense ratio for Class C shares would be 1.51% and 1.15%, respectively. This arrangement may be modified or terminated by the distributor at any time. /(4)/ Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. /(5)/ Amounts less than 0.01% are shown as dashes (-) in "Acquired fund fees and expenses" but are included in "Other expenses." /(6)/ The Fund's investment advisor has contractually agreed to bear a portion of the Fund's expenses so that the total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.50% of the Fund's average daily net assets through February 28, 2009. Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years --------------------------------- ------ ------- ------- -------- Class A $399 $632 $883 $1,602 Class B: did not sell your shares $153 $550 $972 $1,954 sold all your shares at the end of the period $453 $750 $972 $1,954 Class C: did not sell your shares $153 $550 $972 $2,150 sold all your shares at the end of the period $253 $550 $972 $2,150 See Appendix A for additional hypothetical investment and expense information. 3. The tables located in Appendix A "Hypothetical Investment and Expense Information" are deleted in their entirety and replaced with the following: Columbia Connecticut Intermediate Municipal Bond Fund - Class A Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 3.25% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 0.75% 0.86%/(2)/ $10,086.19 $ 399.10 2 10.25% 1.08% 4.82% $10,481.57 $ 111.07 3 15.76% 1.08% 8.92% $10,892.44 $ 115.42 4 21.55% 1.08% 13.19% $11,319.43 $ 119.94 5 27.63% 1.08% 17.63% $11,763.15 $ 124.65 6 34.01% 1.08% 22.24% $12,224.26 $ 129.53 7 40.71% 1.08% 27.03% $12,703.46 $ 134.61 8 47.75% 1.08% 32.01% $13,201.43 $ 139.89 9 55.13% 1.08% 37.19% $13,718.93 $ 145.37 10 62.89% 1.08% 42.57% $14,256.71 $ 151.07 Total Gain After Fees & Expenses $ 4,256.71 Total Annual Fees & Expenses $1,570.65
Columbia Connecticut Intermediate Municipal Bond Fund - Class B Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 1.50% 3.50% $10,350.00 $ 152.63 2 10.25% 1.83% 6.78% $10,678.10 $ 192.41 3 15.76% 1.83% 10.17% $11,016.59 $ 198.51 4 21.55% 1.83% 13.66% $11,365.82 $ 204.80 5 27.63% 1.83% 17.26% $11,726.11 $ 211.29 6 34.01% 1.83% 20.98% $12,097.83 $ 217.99 7 40.71% 1.83% 24.81% $12,481.33 $ 224.90 8 47.75% 1.83% 28.77% $12,876.99 $ 232.03 9 55.13% 1.08% 33.82% $13,381.77 $ 141.80 10 62.89% 1.08% 39.06% $13,906.33 $ 147.36 Total Gain After Fees & Expenses $ 3,906.33 Total Annual Fees & Expenses $1,923.72
/(1)/ Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. /(2)/ Reflects deduction of the maximum initial sales charge. Columbia Connecticut Intermediate Municipal Bond Fund - Class C Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 1.50% 3.50% $10,350.00 $ 152.63 2 10.25% 1.83% 6.78% $10,678.10 $ 192.41 3 15.76% 1.83% 10.17% $11,016.59 $ 198.51 4 21.55% 1.83% 13.66% $11,365.82 $ 204.80 5 27.63% 1.83% 17.26% $11,726.11 $ 211.29 6 34.01% 1.83% 20.98% $12,097.83 $ 217.99 7 40.71% 1.83% 24.81% $12,481.33 $ 224.90 8 47.75% 1.83% 28.77% $12,876.99 $ 232.03 9 55.13% 1.83% 32.85% $13,285.19 $ 239.38 10 62.89% 1.83% 37.06% $13,706.33 $ 246.97 Total Gain After Fees & Expenses $ 3,706.33 Total Annual Fees & Expenses $2,120.91
Columbia Massachusetts Intermediate Municipal Bond Fund - Class A Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 3.25% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 0.75% 0.86%/(2)/ $10,086.19 $ 399.10 2 10.25% 1.03% 4.87% $10,486.61 $ 105.95 3 15.76% 1.03% 9.03% $10,902.93 $ 110.16 4 21.55% 1.03% 13.36% $11,335.77 $ 114.53 5 27.63% 1.03% 17.86% $11,785.80 $ 119.08 6 34.01% 1.03% 22.54% $12,253.70 $ 123.80 7 40.71% 1.03% 27.40% $12,740.17 $ 128.72 8 47.75% 1.03% 32.46% $13,245.96 $ 133.83 9 55.13% 1.03% 37.72% $13,771.82 $ 139.14 10 62.89% 1.03% 43.19% $14,318.56 $ 144.67 Total Gain After Fees & Expenses $ 4,318.56 Total Annual Fees & Expenses $1,518.98
/(1)/ Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. /(2)/ Reflects deduction of the maximum initial sales charge. Columbia Massachusetts Intermediate Municipal Bond Fund - Class B Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 1.50% 3.50% $10,350.00 $ 152.63 2 10.25% 1.78% 6.83% $10,683.27 $ 187.20 3 15.76% 1.78% 10.27% $11,027.27 $ 193.22 4 21.55% 1.78% 13.82% $11,382.35 $ 199.45 5 27.63% 1.78% 17.49% $11,748.86 $ 205.87 6 34.01% 1.78% 21.27% $12,127.17 $ 212.50 7 40.71% 1.78% 25.18% $12,517.67 $ 219.34 8 47.75% 1.78% 29.21% $12,920.74 $ 226.40 9 55.13% 1.03% 34.34% $13,433.69 $ 135.73 10 62.89% 1.03% 39.67% $13,967.01 $ 141.11 Total Gain After Fees & Expenses $ 3,967.01 Total Annual Fees & Expenses $1,873.45
Columbia Massachusetts Intermediate Municipal Bond Fund - Class C Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 1.50% 3.50% $10,350.00 $ 152.63 2 10.25% 1.78% 6.83% $10,683.27 $ 187.20 3 15.76% 1.78% 10.27% $11,027.27 $ 193.22 4 21.55% 1.78% 13.82% $11,382.35 $ 199.45 5 27.63% 1.78% 17.49% $11,748.86 $ 205.87 6 34.01% 1.78% 21.27% $12,127.17 $ 212.50 7 40.71% 1.78% 25.18% $12,517.67 $ 219.34 8 47.75% 1.78% 29.21% $12,920.74 $ 226.40 9 55.13% 1.78% 33.37% $13,336.79 $ 233.69 10 62.89% 1.78% 37.66% $13,766.23 $ 241.22 Total Gain After Fees & Expenses $ 3,766.23 Total Annual Fees & Expenses $2,071.52
/(1)/ Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. Columbia New Jersey Intermediate Municipal Bond Fund - Class A Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 3.25% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 0.75% 0.86%/(2)/ $10,086.19 $ 399.10 2 10.25% 1.26% 4.63% $10,463.41 $ 129.46 3 15.76% 1.26% 8.55% $10,854.74 $ 134.30 4 21.55% 1.26% 12.61% $11,260.71 $ 139.33 5 27.63% 1.26% 16.82% $11,681.86 $ 144.54 6 34.01% 1.26% 21.19% $12,118.76 $ 149.94 7 40.71% 1.26% 25.72% $12,572.00 $ 155.55 8 47.75% 1.26% 30.42% $13,042.20 $ 161.37 9 55.13% 1.26% 35.30% $13,529.97 $ 167.40 10 62.89% 1.26% 40.36% $14,036.00 $ 173.67 Total Gain After Fees & Expenses $4,036.00 Total Annual Fees & Expenses $1,754.66
Columbia New Jersey Intermediate Municipal Bond Fund - Class B Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 1.50% 3.50% $10,350.00 $ 152.63 2 10.25% 2.01% 6.59% $10,659.47 $ 211.15 3 15.76% 2.01% 9.78% $10,978.18 $ 217.46 4 21.55% 2.01% 13.06% $11,306.43 $ 223.96 5 27.63% 2.01% 16.44% $11,644.49 $ 230.66 6 34.01% 2.01% 19.93% $11,992.66 $ 237.55 7 40.71% 2.01% 23.51% $12,351.24 $ 244.66 8 47.75% 2.01% 27.21% $12,720.55 $ 251.97 9 55.13% 1.26% 31.96% $13,196.29 $ 163.28 10 62.89% 1.26% 36.90% $13,689.84 $ 169.38 Total Gain After Fees & Expenses $ 3,689.84 Total Annual Fees & Expenses $2,102.70
/(1)/ Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. /(2)/ Reflects deduction of the maximum initial sales charge. Columbia New Jersey Intermediate Municipal Bond Fund - Class C Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 1.50% 3.50% $10,350.00 $ 152.63 2 10.25% 2.01% 6.59% $10,659.47 $ 211.15 3 15.76% 2.01% 9.78% $10,978.18 $ 217.46 4 21.55% 2.01% 13.06% $11,306.43 $ 223.96 5 27.63% 2.01% 16.44% $11,644.49 $ 230.66 6 34.01% 2.01% 19.93% $11,992.66 $ 237.55 7 40.71% 2.01% 23.51% $12,351.24 $ 244.66 8 47.75% 2.01% 27.21% $12,720.55 $ 251.97 9 55.13% 2.01% 31.01% $13,100.89 $ 259.51 10 62.89% 2.01% 34.93% $13,492.61 $ 267.26 Total Gain After Fees & Expenses $ 3,492.61 Total Annual Fees & Expenses $2,296.81
Columbia New York Intermediate Municipal Bond Fund - Class A Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 3.25% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 0.75% 0.86%/(2)/ $10,086.19 $ 399.10 2 10.25% 1.15% 4.75% $10,474.51 $ 118.22 3 15.76% 1.15% 8.78% $10,877.77 $ 122.78 4 21.55% 1.15% 12.97% $11,296.57 $ 127.50 5 27.63% 1.15% 17.31% $11,731.49 $ 132.41 6 34.01% 1.15% 21.83% $12,183.15 $ 137.51 7 40.71% 1.15% 26.52% $12,652.20 $ 142.80 8 47.75% 1.15% 31.39% $13,139.31 $ 148.30 9 55.13% 1.15% 36.45% $13,645.17 $ 154.01 10 62.89% 1.15% 41.71% $14,170.51 $ 159.94 Total Gain After Fees & Expenses $ 4,170.51 Total Annual Fees & Expenses $1,642.57
/(1)/ Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. /(2)/ Reflects deduction of the maximum initial sales charge. Columbia New York Intermediate Municipal Bond Fund - Class B Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 1.50% 3.50% $10,350.00 $ 152.63 2 10.25% 1.90% 6.71% $10,670.85 $ 199.70 3 15.76% 1.90% 10.02% $11,001.65 $ 205.89 4 21.55% 1.90% 13.43% $11,342.70 $ 212.27 5 27.63% 1.90% 16.94% $11,694.32 $ 218.85 6 34.01% 1.90% 20.57% $12,056.84 $ 225.64 7 40.71% 1.90% 24.31% $12,430.61 $ 232.63 8 47.75% 1.90% 28.16% $12,815.96 $ 239.84 9 55.13% 1.15% 33.09% $13,309.37 $ 150.22 10 62.89% 1.15% 38.22% $13,821.78 $ 156.00 Total Gain After Fees & Expenses $ 3,821.78 Total Annual Fees & Expenses $1,993.67
Columbia New York Intermediate Municipal Bond Fund - Class C Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 1.50% 3.50% $10,350.00 $ 152.63 2 10.25% 1.90% 6.71% $10,670.85 $ 199.70 3 15.76% 1.90% 10.02% $11,001.65 $ 205.89 4 21.55% 1.90% 13.43% $11,342.70 $ 212.27 5 27.63% 1.90% 16.94% $11,694.32 $ 218.85 6 34.01% 1.90% 20.57% $12,056.84 $ 225.64 7 40.71% 1.90% 24.31% $12,430.61 $ 232.63 8 47.75% 1.90% 28.16% $12,815.96 $ 239.84 9 55.13% 1.90% 32.13% $13,213.25 $ 247.28 10 62.89% 1.90% 36.23% $13,622.86 $ 254.94 Total Gain After Fees & Expenses $ 3,622.86 Total Annual Fees & Expenses $2,189.67
/(1)/ Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. Columbia Rhode Island Intermediate Municipal Bond Fund - Class A Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 3.25% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 0.75% 0.86%/(2)/ $10,086.19 $ 399.10 2 10.25% 1.11% 4.79% $10,478.54 $ 114.13 3 15.76% 1.11% 8.86% $10,886.16 $ 118.57 4 21.55% 1.11% 13.10% $11,309.63 $ 123.19 5 27.63% 1.11% 17.50% $11,749.57 $ 127.98 6 34.01% 1.11% 22.07% $12,206.63 $ 132.96 7 40.71% 1.11% 26.81% $12,681.47 $ 138.13 8 47.75% 1.11% 31.75% $13,174.78 $ 143.50 9 55.13% 1.11% 36.87% $13,687.28 $ 149.08 10 62.89% 1.11% 42.20% $14,219.71 $ 154.88 Total Gain After Fees & Expenses $ 4,219.71 Total Annual Fees & Expenses $1,601.52
Columbia Rhode Island Intermediate Municipal Bond Fund - Class B Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 1.50% 3.50% $10,350.00 $ 152.63 2 10.25% 1.86% 6.75% $10,674.99 $ 195.53 3 15.76% 1.86% 10.10% $11,010.18 $ 201.67 4 21.55% 1.86% 13.56% $11,355.90 $ 208.00 5 27.63% 1.86% 17.12% $11,712.48 $ 214.54 6 34.01% 1.86% 20.80% $12,080.25 $ 221.27 7 40.71% 1.86% 24.60% $12,459.57 $ 228.22 8 47.75% 1.86% 28.51% $12,850.80 $ 235.39 9 55.13% 1.11% 33.51% $13,350.70 $ 145.42 10 62.89% 1.11% 38.70% $13,870.04 $ 151.08 Total Gain After Fees & Expenses $ 3,870.04 Total Annual Fees & Expenses $1,953.75
/(1)/ Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. /(2)/ Reflects deduction of the maximum initial sales charge. Columbia Rhode Island Intermediate Municipal Bond Fund - Class C Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 1.50% 3.50% $10,350.00 $ 152.63 2 10.25% 1.86% 6.75% $10,674.99 $ 195.53 3 15.76% 1.86% 10.10% $11,010.18 $ 201.67 4 21.55% 1.86% 13.56% $11,355.90 $ 208.00 5 27.63% 1.86% 17.12% $11,712.48 $ 214.54 6 34.01% 1.86% 20.80% $12,080.25 $ 221.27 7 40.71% 1.86% 24.60% $12,459.57 $ 228.22 8 47.75% 1.86% 28.51% $12,850.80 $ 235.39 9 55.13% 1.86% 32.54% $13,254.32 $ 242.78 10 62.89% 1.86% 36.71% $13,670.50 $ 250.40 Total Gain After Fees & Expenses $ 3,670.50 Total Annual Fees & Expenses $2,150.43
/(1)/ Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. INT-47/137113-1107 November 14, 2007 COLUMBIA CONNECTICUT INTERMEDIATE MUNICIPAL BOND FUND COLUMBIA MASSACHUSETTS INTERMEDIATE MUNICIPAL BOND FUND COLUMBIA NEW JERSEY INTERMEDIATE MUNICIPAL BOND FUND COLUMBIA NEW YORK INTERMEDIATE MUNICIPAL BOND FUND COLUMBIA RHODE ISLAND INTERMEDIATE MUNICIPAL BOND FUND (the "Funds") Each a series of Columbia Funds Series Trust I Supplement to the Prospectus dated March 1, 2007 (Replacing the supplement dated November 1, 2007) Effective November 1, 2007, the following changes are made to the Class T Shares prospectus of the Funds: 1. For each Fund, in the section entitled "Your Expenses - Understanding Expenses" the paragraph "Example Expenses" is deleted in its entirety and replaced with the following: Example Expenses help you compare the cost of investing in the Fund to the cost of investing in other mutual funds. Except as noted, the table does not take into account any expense reduction arrangements discussed in the footnotes to the Annual Fund Operating Expenses table. It uses the following hypothetical conditions: . $10,000 initial investment . 5% total return for each year . Fund operating expenses remain the same . Reinvestment of all dividends and distributions Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table expire on February 28, 2009, they are only reflected in the first year of the 3, 5 and 10 year examples. 2. The tables entitled "Annual Fund Operating Expenses (deducted directly from Fund assets)" and "Example Expenses (your actual costs may be higher or lower)" are deleted in their entirety and replaced with the following: COLUMBIA CONNECTICUT INTERMEDIATE MUNICIPAL BOND FUND Annual Fund Operating Expenses (deducted directly from Fund assets) Management fee/(1)(2)/ (%) 0.55 Distribution and service (12b-1) fees (%) 0.00 Other expenses/(3)/ (%) 0.43/(4)/ Acquired fund fees and expenses/(5)/ -- Total annual fund operating expenses (%) 0.98 Expense waiver/reimbursement/(6)/ (%) (0.33) Net expense ratio/(6)/ (%) 0.65 /(1)/ The Fund pays a management fee of 0.48% and an administrative fee of 0.07%. /(2)/ The Fund's investment advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% for assets in excess of $6 billion. /(3)/ Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. /(4)/ The Fund may pay shareholder service fees (which are included in other expenses) up to a maximum of 0.50% of the Fund's average daily net assets attributable to Class T shares (comprised of up to 0.25% for shareholder liaison services and up to 0.25% for administrative support services), but will limit such fees to an aggregate fee of not more than 0.15% during the current fiscal year. /(5)/ Amounts less than 0.01% are shown as dashes (-) in "Acquired fund fees and expenses" but are included in "Other expenses." /(6)/ The Fund's investment advisor has contractually agreed to bear a portion of the Fund's expenses so that the total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.50% of the Fund's average daily net assets through February 28, 2009. Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years ------- ------ ------- ------- -------- Class T $538 $741 $960 $1,591 See Appendix A for additional hypothetical investment and expense information. COLUMBIA MASSACHUSETTS INTERMEDIATE MUNICIPAL BOND FUND Annual Fund Operating Expenses (deducted directly from Fund assets) Management fee/(1)(2)/ (%) 0.55 Distribution and service (12b-1) fees (%) 0.00 Other expenses/(3)/ (%) 0.38/(4)/ Acquired fund fees and expenses/(5)/ -- Total annual fund operating expenses (%) 0.93 Expense waiver/reimbursement/(6)/ (%) (0.28) Net expense ratio/(6)/ (%) 0.65 /(1)/ The Fund pays a management fee of 0.48% and an administrative fee of 0.07%. /(2)/ The Fund's investment advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% for assets in excess of $6 billion. /(3)/ Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. /(4)/ The Fund may pay shareholder service fees (which are included in other expenses) up to a maximum of 0.50% of the Fund's average daily net assets attributable to Class T shares (comprised of up to 0.25% for shareholder liaison services and up to 0.25% for administrative support services), but will limit such fees to an aggregate fee of not more than 0.15% during the current fiscal year. /(5)/ Amounts less than 0.01% are shown as dashes (-) in "Acquired fund fees and expenses" but are included in "Other expenses." /(6)/ The Fund's investment advisor has contractually agreed to bear a portion of the Fund's expenses so that the total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.50% of the Fund's average daily net assets through February 28, 2009. Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years ------- ------ ------- ------- -------- Class T $538 $731 $939 $1,539 See Appendix A for additional hypothetical investment and expense information. COLUMBIA NEW JERSEY INTERMEDIATE MUNICIPAL BOND FUND Annual Fund Operating Expenses (deducted directly from Fund assets) Management fee/(1)(2)/ (%) 0.55 Distribution and service (12b-1) fees (%) 0.00 Other expenses/(3)/ (%) 0.61/(4)/ Acquired fund fees and expenses/(5)/ -- Total annual fund operating expenses (%) 1.16 Expense waiver/reimbursement/(6)/ (%) (0.51) Net expense ratio/(6)/ (%) 0.65 /(1)/ The Fund pays a management fee of 0.48% and an administrative fee of 0.07%. /(2)/ The Fund's investment advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% for assets in excess of $6 billion. /(3)/ Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. /(4)/ The Fund may pay shareholder service fees (which are included in other expenses) up to a maximum of 0.50% of the Fund's average daily net assets attributable to Class T shares (comprised of up to 0.25% for shareholder liaison services and up to 0.25% for administrative support services), but will limit such fees to an aggregate fee of not more than 0.15% during the current fiscal year. /(5)/ Amounts less than 0.01% are shown as dashes (-) in "Acquired fund fees and expenses" but are included in "Other expenses." /(6)/ The Fund's investment advisor has contractually agreed to bear a portion of the Fund's expenses so that the total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.50% of the Fund's average daily net assets through February 28, 2009. Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years ------- ------ ------- ------- -------- Class T $538 $778 $1,036 $1,774 See Appendix A for additional hypothetical investment and expense information. COLUMBIA NEW YORK INTERMEDIATE MUNICIPAL BOND FUND Annual Fund Operating Expenses (deducted directly from Fund assets) Management fee/(1)(2)/ (%) 0.55 Distribution and service (12b-1) fees (%) 0.00 Other expenses/(3)/ (%) 0.50/(4)/ Acquired fund fees and expenses/(5)/ -- Total annual fund operating expenses (%) 1.05 Expense waiver/reimbursement/(6)/ (%) (0.40) Net expense ratio/(6)/ (%) 0.65 /(1)/ The Fund pays a management fee of 0.48% and an administrative fee of 0.07%. /(2)/ The Fund's investment advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% for assets in excess of $6 billion. /(3)/ Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. /(4)/ The Fund may pay shareholder service fees (which are included in other expenses) up to a maximum of 0.50% of the Fund's average daily net assets attributable to Class T shares (comprised of up to 0.25% for shareholder liaison services and up to 0.25% for administrative support services), but will limit such fees to an aggregate fee of not more than 0.15% during the current fiscal year. /(5)/ Amounts less than 0.01% are shown as dashes (-) in "Acquired fund fees and expenses" but are included in "Other expenses." /(6)/ The Fund's investment advisor has contractually agreed to bear a portion of the Fund's expenses so that the total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.50% of the Fund's average daily net assets through February 28, 2009. Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years ------- ------ ------- ------- -------- Class T $538 $755 $990 $1,662 See Appendix A for additional hypothetical investment and expense information. COLUMBIA RHODE ISLAND INTERMEDIATE MUNICIPAL BOND FUND Annual Fund Operating Expenses (deducted directly from Fund assets) Management fee/(1)(2)/ (%) 0.55 Distribution and service (12b-1) fees (%) 0.00 Other expenses/(3)/ (%) 0.31/(4)/ Acquired fund fees and expenses/(5)/ -- Total annual fund operating expenses (%) 0.86 Expense waiver/reimbursement/(6)/ (%) (0.36) Net expense ratio/(6)/ (%) 0.50 /(1)/ The Fund pays a management fee of 0.48% and an administrative fee of 0.07%. /(2)/ The Fund's investment advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% for assets in excess of $6 billion. /(3)/ Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. /(4)/ The Fund may pay shareholder service fees (which are included in other expenses) up to a maximum of 0.50% of the Fund's average daily net assets attributable to Class T shares (comprised of up to 0.25% for shareholder liaison services and up to 0.25% for administrative support services), but will limit such fees to an aggregate fee of not more than 0.15% during the current fiscal year. /(5)/ Amounts less than 0.01% are shown as dashes (-) in "Acquired fund fees and expenses" but are included in "Other expenses." /(6)/ The Fund's investment advisor has contractually agreed to bear a portion of the Fund's expenses so that the total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.50% of the Fund's average daily net assets through February 28, 2009. Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years ------- ------ ------- ------- -------- Class T $524 $702 $895 $1,454 See Appendix A for additional hypothetical investment and expense information. 3. The tables located in Appendix A "Hypothetical Investment and Expense Information" are deleted in their entirety and replaced with the following: Columbia Connecticut Intermediate Municipal Bond Fund - Class T Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 4.75% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 0.65% -0.61%/2/ $ 9,939.34 $ 538.26 2 10.25% 0.98% 3.39% $10,338.90 $ 99.36 3 15.76% 0.98% 7.55% $10,754.52 $ 103.36 4 21.55% 0.98% 11.87% $11,186.85 $ 107.51 5 27.63% 0.98% 16.37% $11,636.57 $ 111.83 6 34.01% 0.98% 21.04% $12,104.36 $ 116.33 7 40.71% 0.98% 25.91% $12,590.95 $ 121.01 8 47.75% 0.98% 30.97% $13,097.11 $ 125.87 9 55.13% 0.98% 36.24% $13,623.61 $ 130.93 10 62.89% 0.98% 41.71% $14,171.28 $ 136.19 Total Gain After Fees & Expenses $ 4,171.28 Total Annual Fees & Expenses $1,590.65
Columbia Massachusetts Intermediate Municipal Bond Fund - Class T Shares Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 4.75% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 0.65% -0.61%/(2)/ $ 9,939.34 $ 538.26 2 10.25% 0.93% 3.44% $10,343.87 $ 94.32 3 15.76% 0.93% 7.65% $10,764.86 $ 98.16 4 21.55% 0.93% 12.03% $11,202.99 $ 102.15 5 27.63% 0.93% 16.59% $11,658.96 $ 106.31 6 34.01% 0.93% 21.33% $12,133.48 $ 110.63 7 40.71% 0.93% 26.27% $12,627.31 $ 115.14 8 47.75% 0.93% 31.41% $13,141.24 $ 119.82 9 55.13% 0.93% 36.76% $13,676.09 $ 124.70 10 62.89% 0.93% 42.33% $14,232.70 $ 129.78 Total Gain After Fees & Expenses $4,232.70 Total Annual Fees & Expenses $1,539.27
/(1)/ Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. /(2)/ Reflects deduction of the maximum initial sales charge. Columbia New Jersey Intermediate Municipal Bond Fund - Class T Shares Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 4.75% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 0.65% -0.61%(2) $ 9,939.34 $ 538.26 2 10.25% 1.16% 3.21% $10,321.01 $ 117.51 3 15.76% 1.16% 7.17% $10,717.33 $ 122.02 4 21.55% 1.16% 11.29% $11,128.88 $ 126.71 5 27.63% 1.16% 15.56% $11,556.23 $ 131.57 6 34.01% 1.16% 20.00% $11,999.99 $ 136.63 7 40.71% 1.16% 24.61% $12,460.79 $ 141.87 8 47.75% 1.16% 29.39% $12,939.28 $ 147.32 9 55.13% 1.16% 34.36% $13,436.15 $ 152.98 10 62.89% 1.16% 39.52% $13,952.10 $ 158.85 Total Gain After Fees & Expenses $3,952.10 Total Annual Fees & Expenses $1,773.72
Columbia New York Intermediate Municipal Bond Fund - Class T Shares Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 4.75% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 0.65% -0.61%(2) $ 9,939.34 $ 538.26 2 10.25% 1.05% 3.32% $10,331.94 $ 106.42 3 15.76% 1.05% 7.40% $10,740.05 $ 110.63 4 21.55% 1.05% 11.64% $11,164.29 $ 115.00 5 27.63% 1.05% 16.05% $11,605.27 $ 119.54 6 34.01% 1.05% 20.64% $12,063.68 $ 124.26 7 40.71% 1.05% 25.40% $12,540.20 $ 129.17 8 47.75% 1.05% 30.36% $13,035.54 $ 134.27 9 55.13% 1.05% 35.50% $13,550.44 $ 139.58 10 62.89% 1.05% 40.86% $14,085.68 $ 145.09 Total Gain After Fees & Expenses $ 4,085.68 Total Annual Fees & Expenses $1,662.22
/(1)/ Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. /(2)/ Reflects deduction of the maximum initial sales charge. Columbia Rhode Island Intermediate Municipal Bond Fund - Class T Shares Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 4.75% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 0.50% -0.46%(2) $ 9,953.63 $ 523.70 2 10.25% 0.86% 3.66% $10,365.71 $ 87.37 3 15.76% 0.86% 7.95% $10,794.85 $ 90.99 4 21.55% 0.86% 12.42% $11,241.75 $ 94.76 5 27.63% 0.86% 17.07% $11,707.16 $ 98.68 6 34.01% 0.86% 21.92% $12,191.84 $ 102.77 7 40.71% 0.86% 26.97% $12,696.58 $ 107.02 8 47.75% 0.86% 32.22% $13,222.22 $ 111.45 9 55.13% 0.86% 37.70% $13,769.62 $ 116.06 10 62.89% 0.86% 43.40% $14,339.68 $ 120.87 Total Gain After Fees & Expenses $ 4,339.68 Total Annual Fees & Expenses $1,453.67
/(1)/ Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. /(2)/ Reflects deduction of the maximum initial sales charge. INT-47/137200-1107 November 14, 2007 COLUMBIA CONNECTICUT INTERMEDIATE MUNICIPAL BOND FUND COLUMBIA MASSACHUSETTS INTERMEDIATE MUNICIPAL BOND FUND COLUMBIA NEW JERSEY INTERMEDIATE MUNICIPAL BOND FUND COLUMBIA NEW YORK INTERMEDIATE MUNICIPAL BOND FUND COLUMBIA RHODE ISLAND INTERMEDIATE MUNICIPAL BOND FUND (the "Funds") Each a series of Columbia Funds Series Trust I Supplement to the Prospectus dated March 1, 2007 (Replacing the supplement dated November 1, 2007) Effective November 1, 2007, the following changes are made to the Class Z Shares prospectus of the Funds: 1. For each Fund, in the section entitled "Your Expenses - Understanding Expenses" the paragraph "Example Expenses" is deleted in its entirety and replaced with the following: Example Expenses help you compare the cost of investing in the Fund to the cost of investing in other mutual funds. Except as noted, the table does not take into account any expense reduction arrangements discussed in the footnotes to the Annual Fund Operating Expenses table. It uses the following hypothetical conditions: . $10,000 initial investment . 5% total return for each year . Fund operating expenses remain the same . Reinvestment of all dividends and distributions Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table expire on February 28, 2009, they are only reflected in the first year of the 3, 5 and 10 year examples. 2. The tables entitled "Annual Fund Operating Expenses (deducted directly from Fund assets)" and "Example Expenses (your actual costs may be higher or lower)" are deleted in their entirety and replaced with the following: COLUMBIA CONNECTICUT INTERMEDIATE MUNICIPAL BOND FUND Annual Fund Operating Expenses (deducted directly from Fund assets) Management fee/(1)(2)/ (%) 0.55 Distribution and service (12b-1) fees (%) 0.00 Other expenses/(3)/ (%) 0.28 Acquired fund fees and expenses/(4)/ -- Total annual fund operating expenses (%) 0.83 Expense waiver/reimbursement/(5)/ (%) (0.33) Net expense ratio/(5)/ (%) 0.50 /(1)/ The Fund pays a management fee of 0.48% and an administrative fee of 0.07%. /(2)/ The Fund's investment advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% for assets in excess of $6 billion. /(3)/ Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. /(4)/ Amounts less than 0.01% are shown as dashes (-) in "Acquired fund fees and expenses" but are included in "Other expenses." /(5)/ The Fund's investment advisor has contractually agreed to bear a portion of the Fund's expenses so that the Total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.50% of the Fund's average daily net assets through February 28, 2009. Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years ------- ------ ------- ------- -------- Class Z $51 $232 $428 $995 See Appendix A for additional hypothetical investment and expense information. COLUMBIA MASSACHUSETTS INTERMEDIATE MUNICIPAL BOND FUND Annual Fund Operating Expenses (deducted directly from Fund assets) Management fee/(1)(2)/ (%) 0.55 Distribution and service (12b-1) fees (%) 0.00 Other expenses/(3)/ (%) 0.23 Acquired fund fees and expenses/(4)/ -- Total annual fund operating expenses (%) 0.78 Expense waiver/reimbursement/(5)/ (%) (0.28) Net expense ratio/(5)/ (%) 0.50 /(1)/ The Fund pays a management fee of 0.48% and an administrative fee of 0.07%. /(2)/ The Fund's investment advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% for assets in excess of $6 billion. /(3)/ Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. /(4)/ Amounts less than 0.01% are shown as dashes (-) in "Acquired fund fees and expenses" but are included in "Other expenses." /(5)/ The Fund's investment advisor has contractually agreed to bear a portion of the Fund's expenses so that the Total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.50% of the Fund's average daily net assets through February 28, 2009. Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years ------- ------ ------- ------- -------- Class Z $51 $221 $406 $940 See Appendix A for additional hypothetical investment and expense information. COLUMBIA NEW JERSEY INTERMEDIATE MUNICIPAL BOND FUND Annual Fund Operating Expenses (deducted directly from Fund assets) Management fee/(1)(2)/ (%) 0.55 Distribution and service (12b-1) fees (%) 0.00 Other expenses/(3)/ (%) 0.46 Acquired fund fees and expenses/(4)/ -- Total annual fund operating expenses (%) 1.01 Expense waiver/reimbursement/(5)/ (%) (0.51) Net expense ratio/(5)/ (%) 0.50 /(1)/ The Fund pays a management fee of 0.48% and an administrative fee of 0.07%. /(2)/ The Fund's investment advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% for assets in excess of $6 billion. /(3)/ Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. /(4)/ Amounts less than 0.01% are shown as dashes (-) in "Acquired fund fees and expenses" but are included in "Other expenses." /(5)/ The Fund's investment advisor has contractually agreed to bear a portion of the Fund's expenses so that the Total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.50% of the Fund's average daily net assets through February 28, 2009. Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years ------- ------ ------- ------- -------- Class Z $51 $271 $508 $1,190 See Appendix A for additional hypothetical investment and expense information. COLUMBIA NEW YORK INTERMEDIATE MUNICIPAL BOND FUND Annual Fund Operating Expenses (deducted directly from Fund assets) Management fee/(1)(2)/ (%) 0.55 Distribution and service (12b-1) fees (%) 0.00 Other expenses/(3)/ (%) 0.35 Acquired fund fees and expenses/(4)/ -- Total annual fund operating expenses (%) 0.90 Expense waiver/reimbursement/(5)/ (%) (0.40) Net expense ratio/(5)/ (%) 0.50 /(1)/ The Fund pays a management fee of 0.48% and an administrative fee of 0.07%. /(2)/ The Fund's investment advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% for assets in excess of $6 billion. /(3)/ Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. /(4)/ Amounts less than 0.01% are shown as dashes (-) in "Acquired fund fees and expenses" but are included in "Other expenses." /(5)/ The Fund's investment advisor has contractually agreed to bear a portion of the Fund's expenses so that the Total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.50% of the Fund's average daily net assets through February 28, 2009. Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years ------- ------ ------- ------- -------- Class Z $51 $247 $459 $1,071 See Appendix A for additional hypothetical investment and expense information. COLUMBIA RHODE ISLAND INTERMEDIATE MUNICIPAL BOND FUND Annual Fund Operating Expenses (deducted directly from Fund assets) Management fee/(1)(2)/ (%) 0.55 Distribution and service (12b-1) fees (%) 0.00 Other expenses/(3)/ (%) 0.31 Acquired fund fees and expenses/(4)/ -- Total annual fund operating expenses (%) 0.86 Expense waiver/reimbursement/(5)/ (%) (0.36) Net expense ratio/(5)/ (%) 0.50 /(1)/ The Fund pays a management fee of 0.48% and an administrative fee of 0.07%. /(2)/ The Fund's investment advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% for assets in excess of $6 billion. /(3)/ Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. /(4)/ Amounts less than 0.01% are shown as dashes (-) in "Acquired fund fees and expenses" but are included in "Other expenses." /(5)/ The Fund's investment advisor has contractually agreed to bear a portion of the Fund's expenses so that the Total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.50% of the Fund's average daily net assets through February 28, 2009. Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years ------- ------ ------- ------- -------- Class Z $51 $238 $441 $1,027 See Appendix A for additional hypothetical investment and expense information. 3. The tables located in Appendix A "Hypothetical Investment and Expense Information" are deleted in their entirety and replaced with the following: Columbia Connecticut Intermediate Municipal Bond Fund - Class Z Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 0.50% 4.50% $10,450.00 $ 51.13 2 10.25% 0.83% 8.86% $10,885.77 $ 88.54 3 15.76% 0.83% 13.40% $11,339.70 $ 92.24 4 21.55% 0.83% 18.13% $11,812.57 $ 96.08 5 27.63% 0.83% 23.05% $12,305.15 $100.09 6 34.01% 0.83% 28.18% $12,818.28 $104.26 7 40.71% 0.83% 33.53% $13,352.80 $108.61 8 47.75% 0.83% 39.10% $13,909.61 $113.14 9 55.13% 0.83% 44.90% $14,489.64 $117.86 10 62.89% 0.83% 50.94% $15,093.86 $122.77 Total Gain After Fees & Expenses $ 5,093.86 Total Annual Fees & Expenses $994.72
Columbia Massachusetts Intermediate Municipal Bond Fund - Class Z Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 0.50% 4.50% $10,450.00 $ 51.13 2 10.25% 0.78% 8.91% $10,890.99 $ 83.23 3 15.76% 0.78% 13.51% $11,350.59 $ 86.74 4 21.55% 0.78% 18.30% $11,829.58 $ 90.40 5 27.63% 0.78% 23.29% $12,328.79 $ 94.22 6 34.01% 0.78% 28.49% $12,849.07 $ 98.19 7 40.71% 0.78% 33.91% $13,391.30 $102.34 8 47.75% 0.78% 39.56% $13,956.41 $106.66 9 55.13% 0.78% 45.45% $14,545.37 $111.16 10 62.89% 0.78% 51.59% $15,159.19 $115.85 Total Gain After Fees & Expenses $ 5,159.19 Total Annual Fees & Expenses $939.92
/(1)/ Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. Columbia New Jersey Intermediate Municipal Bond Fund - Class Z Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 0.50% 4.50% $10,450.00 $ 51.13 2 10.25% 1.01% 8.67% $10,866.96 $ 107.65 3 15.76% 1.01% 13.01% $11,300.55 $ 111.95 4 21.55% 1.01% 17.51% $11,751.44 $ 116.41 5 27.63% 1.01% 22.20% $12,220.32 $ 121.06 6 34.01% 1.01% 27.08% $12,707.91 $ 125.89 7 40.71% 1.01% 32.15% $13,214.96 $ 130.91 8 47.75% 1.01% 37.42% $13,742.23 $ 136.13 9 55.13% 1.01% 42.91% $14,290.55 $ 141.57 10 62.89% 1.01% 48.61% $14,860.74 $ 147.21 Total Gain After Fees & Expenses $ 4,860.74 Total Annual Fees & Expenses $1,189.91
Columbia New York Intermediate Municipal Bond Fund - Class Z Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 0.50% 4.50% $10,450.00 $ 51.13 2 10.25% 0.90% 8.78% $10,878.45 $ 95.98 3 15.76% 0.90% 13.24% $11,324.47 $ 99.91 4 21.55% 0.90% 17.89% $11,788.77 $ 104.01 5 27.63% 0.90% 22.72% $12,272.11 $ 108.27 6 34.01% 0.90% 27.75% $12,775.27 $ 112.71 7 40.71% 0.90% 32.99% $13,299.05 $ 117.33 8 47.75% 0.90% 38.44% $13,844.31 $ 122.15 9 55.13% 0.90% 44.12% $14,411.93 $ 127.15 10 62.89% 0.90% 50.03% $15,002.82 $ 132.37 Total Gain After Fees & Expenses $ 5,002.82 Total Annual Fees & Expenses $1,071.01
/(1)/ Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. Columbia Rhode Island Intermediate Municipal Bond Fund - Class Z Shares
Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- ----------------------------- ------------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- ------------ --------------- ------------- 1 5.00% 0.50% 4.50% $10,450.00 $ 51.13 2 10.25% 0.86% 8.83% $10,882.63 $ 91.73 3 15.76% 0.86% 13.33% $11,333.17 $ 95.53 4 21.55% 0.86% 18.02% $11,802.36 $ 99.48 5 27.63% 0.86% 22.91% $12,290.98 $ 103.60 6 34.01% 0.86% 28.00% $12,799.83 $ 107.89 7 40.71% 0.86% 33.30% $13,329.74 $ 112.36 8 47.75% 0.86% 38.82% $13,881.59 $ 117.01 9 55.13% 0.86% 44.56% $14,456.29 $ 121.85 10 62.89% 0.86% 50.55% $15,054.78 $ 126.90 Total Gain After Fees & Expenses $ 5,054.78 Total Annual Fees & Expenses $1,027.48
/(1)/ Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. INT-47/136895-1107 November 14, 2007 COLUMBIA CONNECTICUT INTERMEDIATE MUNICIPAL BOND FUND COLUMBIA MASSACHUSETTS INTERMEDIATE MUNICIPAL BOND FUND COLUMBIA NEW JERSEY INTERMEDIATE MUNICIPAL BOND FUND COLUMBIA NEW YORK INTERMEDIATE MUNICIPAL BOND FUND COLUMBIA RHODE ISLAND INTERMEDIATE MUNICIPAL BOND FUND (the Funds) Each a series of Columbia Funds Series Trust I Supplement to the Statement of Additional Information dated March 1, 2007 (Replacing the supplement dated November 1, 2007) The following is added as the fourth paragraph in the section entitled FUND CHARGES AND EXPENSES in the Funds Statement of Additional Information: Effective November 1, 2007, the Advisor has contractually agreed to waive fees and/or reimburse expenses of each Fund to the extent necessary to ensure that total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from such Funds custodian, do not exceed 0.50% of the Funds average daily net assets through February 28, 2009. INT-50/137201-1107 November 14, 2007 COLUMBIA CORE BOND FUND (the "Fund") Supplement to the Prospectus dated September 1, 2007 (Replacing the supplement dated November 1, 2007) Effective November 1, 2007, the following changes are made to the Class A, Class B and Class C Shares prospectus of the Fund: 1. The section entitled "Annual Fund Operating Expenses (deducted directly from Fund assets)" is deleted in its entirety and replaced with the following: Annual Fund Operating Expenses (deducted directly from Fund assets) Class A Class B Class C ------- ------- ------- Management fee (%)(d) 0.51 0.51 0.51 Distribution and service fees (%) 0.25 1.00 1.00(e) Other expenses (%)(f) 0.18 0.18 0.18 Total annual fund operating expenses (%) 0.94 1.69 1.69 Expense reimbursement/waiver (%)(g) (0.24) (0.24) (0.24) Net expense ratio (%)(f) 0.70 1.45 1.45 (a) This charge applies to investors who buy $1 million or more of Class A shares and redeem them within one year of purchase, with certain limited exceptions. See Choosing a Share Class - Sales Charges and Commissions for details. (b) This charge decreases over time. See Choosing a Share Class - Sales Charges and Commissions for details. (c) This charge applies to investors who buy Class C shares and redeem them within one year of purchase, with certain limited exceptions. See Choosing a Share Class - Sales Charges and Commissions for details. (d) The Fund pays an investment advisory fee of 0.44% and an administration fee of 0.07%. The Advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily net assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% in excess of $6 billion. (e) The Distributor has voluntarily agreed to waive a portion (0.15%) of the distribution fee for Class C shares. If this waiver were reflected in the table, the distribution and service fees for Class C shares would be 0.85% and the total net expenses for Class C shares would be 1.30%. This arrangement may be modified or terminate by the Distributor at any time. (f) Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. (g) The Advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to ensure that total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.45% of the Fund's average daily net assets through August 31, 2009. 2. The section entitled "Example" is deleted in its entirety and replaced with the following: Example The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that: . you invest $10,000 in Class A, Class B or Class C shares of the Fund for the periods indicated, . you reinvest all dividends and distributions in the Fund, . your investment has a 5% return each year, . your Class B shares convert to Class A shares after you've owned them for eight years, and . the Fund's total net annual operating expenses remain the same as shown in the table above. Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire August 31, 2009, they are reflected in the first two years of the 3, 5 and 10 year examples. Based on the assumptions listed above, your costs would be: Example Expenses (your actual costs may be higher or lower)
Class 1 Year 3 Years 5 Years 10 Years ----- ------ ------- ------- -------- Class A $543 $714 $ 925 $1,532 Class B: did not sell your shares $148 $485 $ 872 $1,692 sold all your shares at the end of the period $648 $785 $1,072 $1,692 Class C: did not sell your shares $148 $485 $ 872 $1,957 sold all your shares at the end of the period $248 $485 $ 872 $1.957
Remember this is an example only. It is not necessarily representative of the Fund's actual expenses in the past or future. Your actual costs could be higher or lower depending on the amount you invest and on the Fund's actual expenses and performance. 3. The table under "Hypothetical Fees and Expenses" is deleted in its entirety and replaced with the following: Columbia Core Bond Fund - Class A Shares
Maximum Sales Charge Initial Hypothetical Assumed Rate of Return 4.75% Investment Amount $10,000.00 5% --------------------------------- ----------------------------- ----------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses(1) ---- -------------------------- -------------- ----------- --------------- ----------- 1 5.00% 0.70% (0.65)%(2) $ 9,934.58 $ 543.11 2 10.25% 0.70% 3.62% $10,361.76 $ 71.04 3 15.76% 0.94% 7.82% $10,782.45 $ 99.38 4 21.55% 0.94% 12.20% $11,220.22 $ 103.41 5 27.63% 0.94% 16.76% $11,675.76 $ 107.61 6 34.01% 0.94% 21.50% $12,149.79 $ 111.98 7 40.71% 0.94% 26.43% $12,643.07 $ 116.53 8 47.75% 0.94% 31.56% $13,156.38 $ 121.26 9 55.13% 0.94% 36.91% $13,690.53 $ 126.18 10 62.89% 0.94% 42.46% $14,246.37 $ 131.30 ---------- Total Gain After Fees & Expenses $ 4,246.37 ========== --------- Total Annual Fees & Expenses $1,531.80 =========
(1) Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. (2) Reflects deduction of the maximum initial sales charge. Columbia Core Bond Fund - Class B Shares
Maximum Sales Charge Initial Hypothetical Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- -------------------------------------- ----------------------------- Hypothetical Cumulative Cumulative Year - End Annual Return Before Return After Balance After Fees & Year Fees & Expenses Annual Expense Ratio Fees & Expenses Fees & Expenses Expenses(1) ---- --------------- -------------------- --------------- --------------- ----------- 1 5.00% 1.45% 3.55% $10,355.00 $ 147.57 2 10.25% 1.45% 7.23% $10,722.60 $ 152.81 3 15.76% 1.69% 10.78% $11,077.52 $ 184.21 4 21.55% 1.69% 14.44% $11,444.19 $ 190.31 5 27.63% 1.69% 18.23% $11,822.99 $ 196.61 6 34.01% 1.69% 22.14% $12,214.33 $ 203.12 7 40.71% 1.69% 26.19% $12,618.62 $ 209.84 8 47.75% 1.69% 30.36% $13,036.30 $ 216.78 9 55.13% 0.70% 35.97% $13,596.86 $ 93.22 10 62.89% 0.70% 41.82% $14,181.53 $ 97.22 ---------- Total Gain After Fees & Expenses $ 4,181.53 ========== ---------- Total Annual Fees & Expenses $ 1,691.69 ===========
(1) Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. Columbia Core Bond Fund - Class C Shares
Maximum Sales Charge Initial Hypothetical Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- -------------------------------------- ----------------------------- Hypothetical Cumulative Cumulative Year - End Annual Return Before Return After Balance After Fees & Year Fees & Expenses Annual Expense Ratio Fees & Expenses Fees & Expenses Expenses(1) ---- --------------- -------------------- --------------- --------------- ----------- 1 5.00% 1.45% 3.55% $10,355.00 $ 147.57 2 10.25% 1.45% 7.23% $10,722.60 $ 152.81 3 15.76% 1.69% 10.78% $11,077.52 $ 184.21 4 21.55% 1.69% 14.44% $11,444.19 $ 190.31 5 27.63% 1.69% 18.23% $11,822.99 $ 196.61 6 34.01% 1.69% 22.14% $12,214.33 $ 203.12 7 40.71% 1.69% 26.19% $12,618.62 $ 209.84 8 47.75% 1.69% 30.36% $13,036.30 $ 216.78 9 55.13% 1.69% 34.68% $13,467.80 $ 223.96 10 62.89% 1.69% 39.14% $13,913.59 $ 231.37 ---------- Total Gain After Fees & Expenses $ 3,913.59 ========== ---------- Total Annual Fees & Expenses $ 1,956.58 ===========
(1) Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. INT-47/137204-1107 November 14, 2007 COLUMBIA CORE BOND FUND (the "Fund") Supplement to the Prospectus dated September 1, 2007 (Replacing the supplement dated November 1, 2007) Effective November 1, 2007, the following changes are made to the Class T Shares prospectus of the Fund: 1. The section entitled "Annual Fund Operating Expenses (deducted directly from Fund assets)" is deleted in its entirety and replaced with the following: Annual Fund Operating Expenses (deducted directly from Fund assets) Class T -------- Management fee (%)(b) 0.51 Distribution and service fees (%) 0.00 Other expenses (%)(c) 0.33(d) Total annual fund operating expenses (%) 0.84 Expense reimbursement/waiver (%)(e) (0.39) Net expense ratio (%)(c) 0.45 (a) This charge applies to investors who buy Class T shares and redeem them within one year of purchase, with certain limited exceptions. See Choosing a Share Class-Sales Charges and Commissions for details. (b) The Fund pays an investment advisory fee of 0.44% and an administration fee of 0.07%. The Advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily net assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% in excess of $6 billion. (c) Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. (d) The Fund may pay shareholder service fees (which are included in other expenses) up to a maximum of 0.50% of such Fund's average daily net assets attributable to Class T shares (comprised of up to 0.25% for shareholder liaison services and up to 0.25% for administrative support services) but will limit such fees to an aggregate fee of not more than 0.15% during the current fiscal year. (e) The Advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to ensure that total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.45% of the Fund's average daily net assets through August 31, 2009. 2. The section entitled "Example" is deleted in its entirety and replaced with the following: Example The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that: . you invest $10,000 in Class T shares of the Fund for the periods indicated, . you reinvest all dividends and distributions in the Fund, . your investment has a 5%return each year, and . the Fund's total net annual operating expenses remain the same as shown in the table above. Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire August 31, 2009, they are reflected in the first two years of the 3, 5 and 10 year examples. Based on the assumptions listed above, your costs would be: Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years ------------------------------ ------ ------- ------- -------- Class T $519 $654 $844 $1,392 3. The table under "Hypothetical Fees and Expenses" is deleted in its entirety and replaced with the following: Columbia Core Bond Fund - Class T Shares
Initial Hypothetical Investment Maximum Sales Charge Amount Assumed Rate of Return 4.75% $10,000.00 5% --------------------- ---------------------------- ---------------------------- Cumulative Hypothetical Cumulative Return After Year- End Annual Return Before Annual Expense Fees & Balance After Fees & Year Fees & Expenses Ratio Expenses Fees & Expenses Expenses(1) ---- --------------- -------------- ------------ -------------- ------------ 1 5.00% 0.45% (0.42)% $ 9,958.39 $ 518.84 2 10.25% 0.45% 4.11% $10,411.49 $ 45.83 3 15.76% 0.84% 8.45% $10,844.61 $ 89.28 4 21.55% 0.84% 12.96% $11,295.75 $ 92.99 5 27.63% 0.84% 17.66% $11,765.65 $ 96.86 6 34.01% 0.84% 22.55% $12,255.10 $ 100.89 7 40.71% 0.84% 27.65% $12,764.91 $ 105.08 8 47.75% 0.84% 32.96% $13,295.94 $ 109.46 9 55.13% 0.84% 38.49% $13,849.05 $ 114.01 10 62.89% 0.84% 44.25% $14,425.17 $ 118.75 ---------- Total Gain After Fees & Expenses $ 4,425.17 ========== --------- Total Annual Fees & Expenses $1,391.99 =========
(1) Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. INT-47/137301-1107 November 14, 2007 COLUMBIA CORE BOND FUND (the "Fund") Supplement to the Prospectus dated September 1, 2007 (Replacing the supplement dated November 1, 2007) Effective November 1, 2007, the following changes are made to the Class Z Shares prospectus of the Fund: 1. The section entitled "Annual Fund Operating Expenses (deducted directly from Fund assets)" is deleted in its entirety and replaced with the following: Annual Fund Operating Expenses (deducted directly from Fund assets) Class Z ------- Management fee (%)(a) 0.51 Distribution and service fees (%) 0.00 Other expenses (%)(b) 0.18 Total annual fund operating expenses (%) 0.69 Expense reimbursement/waiver (%)(c) (0.24) Net expense ratio (%)(b) 0.45 (a) The Fund pays an investment advisory fee of 0.44% and an administration fee of 0.07%. The Advisor has implemented a breakpoint schedule for the Fund's investment advisory fees. The investment advisory fees charged to the Fund will decline as Fund assets grow and will continue to be based on a percentage of the Fund's average daily net assets. The breakpoint schedule for the Fund is as follows: 0.48% for assets up to $500 million; 0.43% for assets in excess of $500 million and up to $1 billion; 0.40% for assets in excess of $1 billion and up to $1.5 billion; 0.37% for assets in excess of $1.5 billion and up to $3 billion; 0.36% for assets in excess of $3 billion and up to $6 billion; and 0.35% in excess of $6 billion. (b) Other expenses have been restated to reflect contractual changes to the fees paid by the Fund. (c) The Advisor has contractually agreed to waive fees and/or reimburse expenses to the extent necessary to ensure that their total fund operating expenses (exclusive of distribution and reimburse expenses to the extent necessary to ensure that total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.45% of the Fund's average net assets until August 31, 2009. 2. The section entitled "Example" is deleted in its entirety and replaced with the following: Example The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that: . you invest $10,000 in Class Z shares of the Fund for the periods indicated, . you redeem all of your shares at the end of those periods, . you reinvest all dividends and distributions in the Fund, . your investment has a 5%return each year, and . the Fund's total net annual operating expenses remain the same as shown in the table above. Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire August 31, 2009, they are reflected in the first two years of the 3, 5 and 10 year examples. Based on the assumptions listed above, your costs would be: Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years -------- ------ ------- ------- -------- Class Z $46 $171 $335 $812 3. The table under "Hypothetical Fees and Expenses" is deleted in its entirety and replaced with the following: Columbia Core Bond Fund - Class Z Shares
Maximum Sales Charge Initial Hypothetical Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- ---------------------------------------- ---------------------------------------- Hypothetical Cumulative Cumulative Return Year - End Annual Return Before After Balance After Fees & Year Fees & Expenses Annual Expense Ratio Fees & Expenses Fees & Expenses Expenses(1) ------------------------------------------------------------------------------------------------------------ 1 5.00% 0.45% 4.55% $10,455.00 $ 46.02 2 10.25% 0.45% 9.31% $10,930.70 $ 48.12 3 15.76% 0.69% 14.02% $11,401.82 $ 77.05 4 21.55% 0.69% 18.93% $11,893.23 $ 80.37 5 27.63% 0.69% 24.06% $12,405.83 $ 83.83 6 34.01% 0.69% 29.41% $12,940.52 $ 87.44 7 40.71% 0.69% 34.98% $13,498.26 $ 91.21 8 47.75% 0.69% 40.80% $14,080.04 $ 95.15 9 55.13% 0.69% 46.87% $14,686.88 $ 99.25 10 62.89% 0.69% 53.20% $15,319.89 $103.52 ---------- Total Gain After Fees & Expenses $ 5,319.89 ========== ------- Total Annual Fees & Expenses $811.96 =======
(1) Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. INT-47/137203-1107 November 14, 2007 COLUMBIA U.S. TREASURY INDEX FUND (the "Fund") Supplement to the Prospectus dated August 1, 2007 (Replacing the supplement dated November 1, 2007) Effective November 1, 2007, the following changes are made to the Class A, Class B and Class C Shares prospectus of the Fund: 1. The section entitled "Annual Fund Operating Expenses (deducted directly from Fund assets)" is deleted in its entirety and replaced with the following: Annual Fund Operating Expenses (deducted directly from Fund assets) Class A Class B Class C ------- ------- ------- Management fee (%)(c) 0.40 0.40 0.40 Distribution and service fees (%) 0.25 1.00 1.00(d) Other expenses (%) 0.01 0.01 0.01 Total annual fund operating expenses (%) 0.66 1.41 1.41 Expense reimbursement/waiver (%)(e) (0.11) (0.11) (0.11) Net expense ratio (%) 0.55 1.30 1.30 (a) This charge decreases over time. See Choosing a Share Class - Sales Charges and Commissions for details. (b) This charge applies to investors who buy Class C shares and redeem them within one year of purchase, with certain limited exceptions. See Choosing a Share Class - Sales Charges and Commissions for details. (c) The Fund pays an investment advisory fee of 0.10% and administration fee of 0.30%. (d) The Distributor has voluntarily agreed to waive a portion (0.15%) of the distribution fee for Class C shares. If this waiver were reflected in the table, the distribution and service fees for Class C shares would be 0.85% and the total operating expenses for Class C shares would be 1.15%. This arrangement may be modified or terminate by the Distributor at any time. (e) The Advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to ensure that total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.30% of the Fund's average daily net assets through July 31, 2009. 2. The section entitled "Example" is deleted in its entirety and replaced with the following: Example The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that: . you invest $10,000 in Class A, Class B or Class C shares of the Fund for the periods indicated, . you redeem all of your shares at the end of those periods, . you reinvest all dividends and distributions in the Fund, . your investment has a 5%return each year, . your Class B shares convert to Class A shares after you've owned them for eight years, and . the Fund's total net annual operating expenses remain the same as shown in the table above. Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire July 31, 2009, they are reflected in the first year of the 3, 5 and 10 year examples. Based on the assumptions listed above, your costs would be: Example Expenses (your actual costs may be higher or lower)
Class 1 Year 3 Years 5 Years 10 Years ------ ------- ------- -------- Class A $529 $666 $815 $1,248 ---------------------------------------------------------------------------------------------- Class B: did not sell your shares $132 $435 $761 $1,476 sold all your shares at the end of the period $632 $735 $961 $1,476 ---------------------------------------------------------------------------------------------- Class C: did not sell your shares $117 $421 $746 $1,668 sold all your shares at the end of the period $217 $421 $746 $1.668
3. The table under "Hypothetical Fees and Expenses" is deleted in its entirety and replaced with the following: Columbia U.S. Treasury Index Fund - Class A Shares
Initial Hypothetical Investment Maximum Sales Charge Amount Assumed Rate of Return 4.75% $10,000.00 5% --------------------- ------------------------------- -------------------------- Hypothetical Cumulative Cumulative Return Year - End Annual Return Before Annual Expense After Balance After Fees & Year Fees & Expenses Ratio Fees & Expenses Fees & Expenses Expenses(1) ---- --------------- -------------- ----------------- --------------- ----------- 1 5.00% 0.55% (0.51)% (2) $ 9,948.86 $ 528.55 2 10.25% 0.66% 3.81% $10,380.64 $ 67.09 3 15.76% 0.66% 8.31% $10,831.16 $ 70.00 4 21.55% 0.66% 13.01% $11,301.23 $ 73.04 5 27.63% 0.66% 17.92% $11,791.70 $ 76.21 6 34.01% 0.66% 23.03% $12,303.46 $ 79.51 7 40.71% 0.66% 28.37% $12,837.43 $ 82.96 8 47.75% 0.66% 33.95% $13,394.57 $ 86.57 9 55.13% 0.66% 39.76% $13,975.59 $ 90.32 10 62.89% 0.66% 45.82% $14,582.44 $ 94.24 ---------- Total Gain After Fees & Expenses $ 4,582.44 ========== --------- Total Annual Fees & Expenses $1,248.49 =========
(1) Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. (2) Reflects deduction of the maximum initial sales charge. Columbia U.S. Treasury Index Fund - Class B Shares
Initial Hypothetical Investment Maximum Sales Charge Amount Assumed Rate of Return 0.00% $10,000.00 5% --------------------- ------------------------------- -------------------------- Hypothetical Cumulative Cumulative Return Year - End Annual Return Before Annual Expense After Balance After Fees & Year Fees & Expenses Ratio Fees & Expenses Fees & Expenses Expenses(1) ---- --------------- -------------- ----------------- --------------- ----------- 1 5.00% 1.30% 3.70% $10,370.00 $ 132.41 2 10.25% 1.41% 7.42% $10,742.28 $ 148.84 3 15.76% 1.41% 11.28% $11,127.93 $ 154.18 4 21.55% 1.41% 15.27% $11,527.42 $ 159.72 5 27.63% 1.41% 19.41% $11,941.25 $ 165.45 6 34.01% 1.41% 23.70% $12,369.94 $ 171.39 7 40.71% 1.41% 28.14% $12,814.02 $ 177.55 8 47.75% 1.41% 32.74% $13,274.04 $ 183.92 9 55.13% 0.66% 38.50% $13,850.13 $ 89.51 10 62.89% 0.66% 44.51% $14,451.23 $ 93.39 ---------- Total Gain After Fees & Expenses $ 4,451.23 ========== --------- Total Annual Fees & Expenses $1,476.36 =========
(1) Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. Columbia U.S. Treasury Index Fund - Class C Shares
Initial Hypothetical Investment Maximum Sales Charge Amount Assumed Rate of Return 0.00% $10,000.00 5% --------------------- ------------------------------- -------------------------- Hypothetical Cumulative Cumulative Return Year - End Annual Return Before Annual Expense After Balance After Fees & Year Fees & Expenses Ratio Fees & Expenses Fees & Expenses Expenses(1) ---- --------------- -------------- ----------------- --------------- ----------- 1 5.00% 1.15% 3.85% $10,385.00 $ 117.21 2 10.25% 1.41% 7.58% $10,757.82 $ 149.06 3 15.76% 1.41% 11.44% $11,144.03 $ 154.41 4 21.55% 1.41% 15.44% $11,544.10 $ 159.95 5 27.63% 1.41% 19.59% $11,958.53 $ 165.69 6 34.01% 1.41% 23.88% $12,387.84 $ 171.64 7 40.71% 1.41% 28.33% $12,832.56 $ 177.80 8 47.75% 1.41% 32.93% $13,293.25 $ 184.19 9 55.13% 1.41% 37.70% $13,770.48 $ 190.80 10 62.89% 1.41% 42.65% $14,264.84 $ 197.65 ---------- Total Gain After Fees & Expenses $ 4,264.84 ========== --------- Total Annual Fees & Expenses $1,668.40 =========
(1) Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. INT-47/136898-1107 November 14, 2007 COLUMBIA U.S TREASURY INDEX FUND (the "Fund") Supplement to the Prospectus dated August 1, 2007 (Replacing the supplement dated November 1, 2007) Effective November 1, 2007, the following changes are made to the Class Z Shares prospectus of the Fund: 1. The section entitled "Annual Fund Operating Expenses (deducted directly from Fund assets)" is deleted in its entirety and replaced with the following: Annual Fund Operating Expenses (deducted directly from Fund assets) Class Z ------- Management fee (%)(a) 0.40 Distribution and service fees (%) 0.00 Other expenses (%) 0.01 Total annual fund operating expenses (%) 0.41 Expense reimbursement/waiver (%)(b) (0.11) Net expense ratio (%) 0.30 (a) The Fund pays an investment advisory fee of 0.10% and an administration fee of 0.30%. (b) The Advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to ensure that total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.30% of the Fund's average daily net assets through July 31, 2009. 2. The section entitled "Example" is deleted in its entirety and replaced with the following: Example The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that: . you invest $10,000 in Class Z shares of the Fund for the periods indicated, . you redeem all of your shares at the end of those periods, . you reinvest all dividends and distributions in the Fund, . your investment has a 5%return each year, and . the Fund's total net annual operating expenses remain the same as shown in the table above. Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table above expire July 31, 2009, they are reflected in the first year of the 3, 5 and 10 year examples. Based on the assumptions listed above, your costs would be: Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years ------- ------ ------- ------- -------- Class Z $31 $121 $219 $507 3. The table under "Hypothetical Fees and Expenses" is deleted in its entirety and replaced with the following: Columbia U.S. Treasury Index Fund - Class Z Shares
Maximum Sales Charge Initial Hypothetical Investment Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- ---------------------------------------- ----------------------------- Hypothetical Cumulative Cumulative Return Year - End Annual Return Before After Balance After Fees & Year Fees & Expenses Annual Expense Ratio Fees & Expenses Fees & Expenses Expenses(1) ---- --------------- -------------------- ----------------- --------------- ----------- 1 5.00% 0.30% 4.70% $10,470.00 $ 30.71 2 10.25% 0.41% 9.51% $10,950.57 $ 43.91 3 15.76% 0.41% 14.53% $11,453.20 $ 45.93 4 21.55% 0.41% 19.79% $11,978.90 $ 48.04 5 27.63% 0.41% 25.29% $12,528.73 $ 50.24 6 34.01% 0.41% 31.04% $13,103.80 $ 52.55 7 40.71% 0.41% 37.05% $13,705.25 $ 54.96 8 47.75% 0.41% 43.34% $14,334.33 $ 57.48 9 55.13% 0.41% 49.92% $14,992.28 $ 60.12 10 62.89% 0.41% 56.80% $15,680.43 $ 62.88 ---------- Total Gain After Fees & Expenses $ 5,680.43 ========== ------- Total Annual Fees & Expenses $506.82 =======
(1) Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. INT-47/136897-1107 November 14, 2007 COLUMBIA U.S. TREASURY INDEX FUND (the "Fund") Supplement to the Statement of Additional Information dated August 1, 2007 (Replacing the supplement dated November 1, 2007) The following is added as the last paragraph under the section Advisory Fee Rates and Fees Paid in the Fund's Statement of Additional Information: Effective November 1, 2007, the Advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to ensure that its total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from a Fund's custodian, do not exceed 0.30% of the Fund's average daily net assets through July 31, 2009. INT-50/136899-1107 November 14, 2007 COLUMBIA OREGON INTERMEDIATE MUNICIPAL BOND FUND (the "Fund") a series of Columbia Funds Series Trust I Supplement to the Prospectus dated January 1, 2007 (Replacing the supplement dated November 1, 2007) Effective November 1, 2007, the following changes are made to the Class A, Class B and Class C Shares prospectus of the Fund: 1. For the Fund, in the section entitled "Your Expenses - Understanding Expenses" the paragraph "Example Expenses" is deleted in its entirety and replaced with the following: Example Expenses help you compare the cost of investing in the Fund to the cost of investing in other mutual funds. The table does not take into account any expense reduction arrangements discussed in the footnotes to the Annual Fund Operating Expenses table. It uses the following hypothetical conditions: . $10,000 initial investment . 5% total return for each year . Fund operating expenses remain the same . Reinvestment of all dividends and distributions . Class B shares convert to Class A shares after eight years Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table expire on February 28, 2009, they are only reflected in the first year of the 3, 5 and 10 year examples. 2. The tables entitled "Annual Fund Operating Expenses (deducted directly from Fund assets)" and "Example Expenses (your actual costs may be higher or lower)" are deleted in their entirety and replaced with the following: Annual Fund Operating Expenses (deducted directly from Fund assets) Class A Class B Class C ------- ------- ------- Management fee (%) 0.50 0.50 0.50 Distribution and service (12b-1) fees (%) 0.25% /(1)/ 1.00 1.00 /(2)/ Other expenses (%) 0.14 0.14 0.14 Total annual fund operating expenses (%) 0.89 1.64 1.64 /(2)/ Expense waiver/reimbursement /3/ (%) -0.14 -0.14 -0.14 Net expense ratio (%) 0.75 1.50 1.50 /(2)/ /(1)/ The Fund may pay distribution and service (12b-1) fees up to a maximum of 0.35% of the Fund's average daily net assets attributable to Class A shares (comprised of up to 0.25% for shareholder liaison services and up to 0.10% for distribution services), but will limit such fees to an aggregate fee of not more than 0.25% during the current fiscal year. /(2)/ The Fund's Distributor has voluntarily agreed to waive a portion of the 12b-1 fee for Class C shares. If this waiver were reflected in the table, the 12b-1 fee for Class C shares would be 0.65%, and the total annual fund operating expenses and net expense ratio for Class C shares would be 1.29% and 1.15%, respectively. This arrangement may be modified or terminated at any time. /(3)/ The Fund's Advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to ensure that total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.50% of the Fund's average daily net assets through December 31, 2008. Example Expenses (your actual costs may be higher or lower) Class 1 Year 3 Years 5 Years 10 Years ------------------------------------ ------ ------- ------- -------- Class A: $399 $586 $789 $1,373 Class B: did not sell your shares $153 $504 $879 $1,731 sold all your shares at the end of the period $453 $704 $879 $1,731 Class C: did not sell your shares $153 $504 $879 $1,932 sold all your shares at the end of the period $253 $504 $879 $1,932 See Appendix A for additional hypothetical investment and expense information. 2. The tables located in Appendix A "Hypothetical Investment and Expense Information" are deleted in their entirety and replaced with the following: Class A Shares Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return -------------------- -------------------- ---------------------- 3.25% $10,000.00 5%
Hypothetical Cumulative Cumulative Year- End Annual Return Before Annual Expense Return After Balance After Fees & Year Fees & Expenses Ratio Fees & Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- --------------- --------------- ------------- 1 5.00% 0.75% 0.86% /(2)/ $10,086.19 $ 399.10 2 10.25% 0.89% 5.01% $10,500.73 $ 91.61 3 15.76% 0.89% 9.32% $10,932.31 $ 95.38 4 21.55% 0.89% 13.82% $11,381.63 $ 99.30 5 27.63% 0.89% 18.49% $11,849.41 $ 103.38 6 34.01% 0.89% 23.36% $12,336.42 $ 107.63 7 40.71% 0.89% 28.43% $12,843.45 $ 112.05 8 47.75% 0.89% 33.71% $13,371.32 $ 116.66 9 55.13% 0.89% 39.21% $13,920.88 $ 121.45 10 62.89% 0.89% 44.93% $14,493.03 $ 126.44 Total Gain After Fees & Expenses $ 4,493.03 Total Annual Fees & Expenses $1,373.00
/(1)/ Annual Fees & Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. /(2)/ Reflects deduction of maximum sales charge. 2 Class B Shares Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return -------------------- -------------------- ---------------------- 0.00% $10,000.00 5%
Hypothetical Cumulative Cumulative Year- End Annual Return Before Annual Expense Return After Balance After Fees & Year Fees & Expenses Ratio Fees & Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- --------------- --------------- ------------- 1 5.00% 1.50% 3.50% $10,350.00 $ 152.63 2 10.25% 1.64% 6.98% $10,697.76 $ 172.59 3 15.76% 1.64% 10.57% $11,057.20 $ 178.39 4 21.55% 1.64% 14.29% $11,428.73 $ 184.38 5 27.63% 1.64% 18.13% $11,812.73 $ 190.58 6 34.01% 1.64% 22.10% $12,209.64 $ 196.98 7 40.71% 1.64% 26.20% $12,619.88 $ 203.60 8 47.75% 1.64% 30.44% $13,043.91 $ 210.44 9 55.13% 0.89% 35.80% $13,580.02 $ 118.48 10 62.89% 0.89% 41.38% $14,138.16 $ 123.35 Total Gain After Fees & Expenses $ 4,138.16 Total Annual Fees & Expenses $1,731.42
Class C Shares Initial Hypothetical Maximum Sales Charge Investment Amount Assumed Rate of Return -------------------- -------------------- ---------------------- 0.00% $10,000.00 5%
Hypothetical Cumulative Cumulative Year- End Annual Return Before Annual Expense Return After Balance After Fees & Year Fees & Expenses Ratio Fees & Expenses Fees & Expenses Expenses/(1)/ ---- --------------- -------------- --------------- --------------- ------------- 1 5.00% 1.50% 3.50% $10,350.00 $ 152.63 2 10.25% 1.64% 6.98% $10,697.76 $ 172.59 3 15.76% 1.64% 10.57% $11,057.20 $ 178.39 4 21.55% 1.64% 14.29% $11,428.73 $ 184.38 5 27.63% 1.64% 18.13% $11,812.73 $ 190.58 6 34.01% 1.64% 22.10% $12,209.64 $ 196.98 7 40.71% 1.64% 26.20% $12,619.88 $ 203.60 8 47.75% 1.64% 30.44% $13,043.91 $ 210.44 9 55.13% 1.64% 34.82% $13,482.19 $ 217.51 10 62.89% 1.64% 39.35% $13,935.19 $ 224.82 Total Gain After Fees & Expenses $ 3,935.19 Total Annual Fees & Expenses $1,931.92
/(1)/ Annual Fees & Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. INT-47/137202-1107 November 14, 2007 3 COLUMBIA OREGON INTERMEDIATE MUNICIPAL BOND FUND (the "Fund") a series of Columbia Funds Series Trust I Supplement to the Prospectus dated January 1, 2007 (Replacing the supplement dated November 1, 2007) Effective November 1, 2007, the following changes are made to the Class Z Shares prospectus of the Fund. 1. For the Fund, in the section entitled "Your Expenses - Understanding Expenses" the paragraph "Example Expenses" is deleted in its entirety and replaced with the following: Example Expenses help you compare the cost of investing in the Fund to the cost of investing in other mutual funds. The table does not take into account any expense reduction arrangements discussed in the footnotes to the Annual Fund Operating Expenses table. It uses the following hypothetical conditions: . $10,000 initial investment . 5% total return for each year . Fund operating expenses remain the same . Reinvestment of all dividends and distributions Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table expire on February 28, 2009, they are only reflected in the first year of the 3, 5 and 10 year examples. 2. The tables entitled "Annual Fund Operating Expenses (deducted directly from Fund assets)" and "Example Expenses (your actual costs may be higher or lower)" are deleted in their entirety and replaced with the following: Annual Fund Operating Expenses (deducted directly from Fund assets) Management fee (%) 0.50 Distribution and service (12b-1) fees (%) 0.00 Other expenses (%) 0.14 Total annual fund operating expenses (%) 0.64 Expense waiver/reimbursement /1/ (%) -0.14 Net expense ratio (%) 0.50 /1/ The Fund's Advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to ensure that total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.50% of the Fund's average daily net assets through December 31, 2008. Example Expenses (your actual costs may be higher or lower) 1 Year 3 Years 5 Years 10 Years ------ ------- ------- -------- $51 $191 $343 $785 See Appendix A for additional hypothetical investment and expense information. 2. The table located in Appendix A "Hypothetical Investment and Expense Information" is deleted in its entirety and replaced with the following: Class Z Shares
Initial Hypothetical Investment Maximum Sales Charge Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- -------------------------------- ----------------------------- Hypothetical Cumulative Cumulative Year- End Annual Return Before Annual Expense Return After Balance After Fees & Year Fees & Expenses Ratio Fees & Expenses Fees & Expenses Expenses/1/ ---- --------------- -------------- --------------- --------------- ----------- 1 5.00% 0.50% 4.50% $10,450.00 $ 51.13 2 10.25% 0.64% 9.06% $10,905.62 $ 68.34 3 15.76% 0.64% 13.81% $11,381.11 $ 71.32 4 21.55% 0.64% 18.77% $11,877.32 $ 74.43 5 27.63% 0.64% 23.95% $12,395.17 $ 77.67 6 34.01% 0.64% 29.36% $12,935.60 $ 81.06 7 40.71% 0.64% 35.00% $13,499.59 $ 84.59 8 47.75% 0.64% 40.88% $14,088.18 $ 88.28 9 55.13% 0.64% 47.02% $14,702.42 $ 92.13 10 62.89% 0.64% 53.43% $15,343.45 $ 96.15 Total Gain After Fees & Expenses $5,343.45 Total Annual Fees & Expenses $785.10
/1/ Annual Fees & Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. INT-47/136896-1107 November 14, 2007 COLUMBIA S&P 500 INDEX FUND, VARIABLE SERIES (the "Fund") a series of Columbia Funds Variable Insurance Trust Supplement to the Prospectuses dated May 1, 2007 (Replacing the supplement dated November 1, 2007) Effective November 1, 2007, the following changes are made to the Class A and Class B Shares prospectus of the Fund: 1. For the Fund, in the section entitled "Your Expenses - Understanding Expenses" the paragraph "Example Expenses" is deleted in its entirety and replaced with the following: Example Expenses help you compare the cost of investing in the Fund to the cost of investing in other mutual funds. The table does not take into account any expense reduction arrangements discussed in the footnotes to the Annual Fund Operating Expenses table. The table does not reflect any insurance-related charges or expenses. If these charges or expenses had been included, the expenses shown would have been higher. It uses the following hypothetical conditions: . $10,000 initial investment . 5% total return for each year . Fund operating expenses remain the same . Reinvestment of all dividends and distributions Since the waivers and/or reimbursements shown in the Annual Fund Operating Expenses table expire on April 30, 2009, they are only reflected in the first year of the 3, 5 and 10 year examples. 2. The tables entitled "Annual Fund Operating Expenses (deducted directly from Fund assets)" and "Example Expenses (your actual costs may be higher or lower)" are deleted in their entirety and replaced with the following: Annual Fund Operating Expenses (deducted directly from Fund assets) Class A ------- Management & Administration fees (%) 0.20 Distribution and service (12b-1) fees (%) 0.00 Other expenses (%) 0.34 Total annual fund operating expenses (%) 0.54 Expense/waiver reimbursement /1/ (%) -0.17 Net expense ratio (%) 0.37 /1/ The Fund's Advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to ensure that total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.37% of the Fund's average daily net assets through April 30, 2009. Annual Fund Operating Expenses (deducted directly from Fund assets) Class B ------- Management & Administration fees (%) 0.20 Distribution and service (12b-1) fees (%) 0.25 Other expenses (%) 0.34 Total annual fund operating expenses (%) 0.79 Expense reimbursement /1/ (%) -0.17 Net expense ratio (%) 0.62 /1/ The Fund's Advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to ensure that total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Fund's custodian, do not exceed 0.37% of the Fund's average daily net assets through April 30, 2009. Example Expenses (your actual costs may be higher or lower) 1 Year 3 Years 5 Years 10 Years ------ ------- ------- -------- Class A $38 $156 $285 $661 See Appendix A for additional hypothetical investment and expense information. Example Expenses (your actual costs may be higher or lower) 1 Year 3 Years 5 Years 10 Years ------ ------- ------- -------- Class B $63 $235 $422 $962 See Appendix A for additional hypothetical investment and expense information. 2. The tables located in Appendix A "Hypothetical Investment and Expense Information" are deleted in their entirety and replaced with the following: 2 Columbia S&P 500 Index Fund, Variable Series - Class A Shares
Initial Hypothetical Investment Maximum Sales Charge Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- -------------------------------- ----------------------------- Hypothetical Cumulative Cumulative Year- End Annual Return Before Annual Expense Return After Balance After Fees & Year Fees & Expenses Ratio Fees & Expenses Fees & Expenses Expenses/1/ ---- --------------- -------------- --------------- --------------- ----------- 1 5.00% 0.37% 4.63% $10,463.00 $ 37.86 2 10.25% 0.54% 9.30% $10,929.65 $ 57.76 3 15.76% 0.54% 14.17% $11,417.11 $ 60.34 4 21.55% 0.54% 19.26% $11,926.32 $ 63.03 5 27.63% 0.54% 24.58% $12,458.23 $ 65.84 6 34.01% 0.54% 30.14% $13,013.87 $ 68.77 7 40.71% 0.54% 35.94% $13,594.28 $ 71.84 8 47.75% 0.54% 42.01% $14,200.59 $ 75.05 9 55.13% 0.54% 48.34% $14,833.94 $ 78.39 10 62.89% 0.54% 54.96% $15,495.53 $ 81.89 Total Gain After Fees & Expenses $ 5,495.53 Total Annual Fees & Expenses $660.77
/1/ Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. Columbia S&P 500 Index Fund, Variable Series - Class B Shares
Initial Hypothetical Investment Maximum Sales Charge Amount Assumed Rate of Return 0.00% $10,000.00 5% ---------------------- -------------------------------- ----------------------------- Hypothetical Cumulative Cumulative Year- End Annual Return Before Annual Expense Return After Balance After Fees & Year Fees & Expenses Ratio Fees & Expenses Fees & Expenses Expenses/1/ ---- --------------- -------------- --------------- --------------- ----------- 1 5.00% 0.62% 4.38% $10,438.00 $ 63.36 2 10.25% 0.79% 8.77% $10,877.44 $ 84.20 3 15.76% 0.79% 13.35% $11,335.38 $ 87.74 4 21.55% 0.79% 18.13% $11,812.60 $ 91.43 5 27.63% 0.79% 23.10% $12,309.91 $ 95.28 6 34.01% 0.79% 28.28% $12,828.16 $ 99.30 7 40.71% 0.79% 33.68% $13,368.22 $103.48 8 47.75% 0.79% 39.31% $13,931.02 $107.83 9 55.13% 0.79% 45.18% $14,517.52 $112.37 10 62.89% 0.79% 51.29% $15,128.71 $117.10 Total Gain After Fees & Expenses $ 5,128.71 Total Annual Fees & Expenses $962.09
/1/ Annual Fees and Expenses are calculated based on the average between the beginning and ending balance for each year. All information is calculated on an annual compounding basis. November 14, 2007 3 COLUMBIA OREGON INTERMEDIATE MUNICIPAL BOND FUND a series of Columbia Funds Series Trust I Supplement to the Statement of Additional Information dated January 1, 2007 (Replacing the supplement dated November 1, 2007) The following paragraph is added under the section entitled "INVESTMENT ADVISORY AND OTHER SERVICES PROVIDED BY AFFILIATES" in the Columbia Oregon Intermediate Municipal Bond Fund's Statement of Additional Information: Effective November 1, 2007, the Advisor has contractually agreed to waive fees and/or reimburse expenses of Columbia Oregon Intermediate Municipal Bond Fund to the extent necessary to ensure that total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the Columbia Oregon Intermediate Municipal Bond Fund's custodian, do not exceed 0.50% of the Columbia Oregon Intermediate Municipal Bond Fund's average daily net assets through December 31, 2008. INT-50/137114-1107 November 14, 2007 COLUMBIA S&P 500 INDEX FUND, VARIABLE SERIES ("S&P 500 Fund") a series of Columbia Funds Variable Insurance Trust Supplement to the Statement of Additional Information dated May 1, 2007 (Replacing the supplement dated November 1, 2007) The following is added as the fourth paragraph in the section entitled "TRUST CHARGES AND EXPENSES - Expense Limitation" in the S&P 500 Fund's Statement of Additional Information: Effective November 1, 2007, the Advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to ensure that total annual fund operating expenses (exclusive of distribution and service fees, brokerage commissions, interest, taxes and extraordinary expenses, but inclusive of custodial charges relating to overdrafts), after giving effect to any balance credits from the S&P 500 Fund's custodian, do not exceed 0.37% of the S&P 500 Fund's average daily net assets through April 30, 2009. November 14, 2007