497 1 blendedequitypm.txt PM CHANGES SUPPLEMENT COLUMBIA FUNDS SERIES TRUST I COLUMBIA BLENDED EQUITY FUND (the "Fund") Supplement to the Prospectuses and Statement of Additional Information dated March 31, 2008 Effective immediately, Nischal Pai will no longer serve as a portfolio manager of the Fund. Accordingly, all references to Nischal Pai as a portfolio manager of the Fund are removed from the Prospectuses and Statement of Additional Information for all share classes of the Fund. Dhruv Toolsidas, CFA will become a portfolio manager of the Fund. Mr. Toolsidas has been associated with Columbia Management Advisors, LLC since 2007 and was previously associated with U.S. Trust from 2003-2007. Mr. Toolsidas has been a member of the investment community since 2003. INT-47/154811-0608 June 26, 2008