COLUMBIA FUNDS SERIES TRUST I

                           Columbia Greater China Fund
                        Columbia International Stock Fund
                    (Each a "Fund" and together the "Funds")

         Supplement dated April 27, 2009 to the Statement of Additional
         Information dated January 1,2009, as revised February 20, 2009


1.       The chart captioned "Permissible Fund Investments" in the section
         captioned "Permissible Investments and Related Risks" is hereby amended
         for Columbia Greater China Fund to add the following as permissible
         investments:

         Convertible Securities
         Custody Receipts and Trust Certificates
         Derivatives - Index or Linked Securities (Structured Products)
         Initial Public Offerings
         Preferred Stock
         Real Estate Investment Trusts and Master Limited Partnerships
         Warrants and Rights
         When-Issued, Delayed Delivery and Forward Commitment Transactions


2.       The chart captioned "Permissible Fund Investments" in the section
         captioned "Permissible Investments and Related Risks" is hereby amended
         for Columbia International Stock Fund to add the following as
         permissible investments:

         Bank Obligations - Foreign
         Custody Receipts and Trust Certificates
         Derivatives - Index or Linked Securities (Structured Products)
         Derivatives - Swap Agreements
         Initial Public Offerings
         When-Issued, Delayed Delivery and Forward Commitment Transactions


3. The following is inserted as a subsection in the section captioned
"Permissible Investments and Related Risks":

         Custody Receipts and Trust Certificates

                  Custody receipts and trust certificates are derivative
         products that evidence direct ownership in a pool of securities.
         Typically, a sponsor will deposit a pool of securities with a custodian
         in exchange for custody receipts evidencing interests in those
         securities. The sponsor generally then will sell the custody receipts
         or trust certificates in negotiated transactions at varying prices.
         Each custody receipt or trust certificate evidences the individual
         securities in the pool and the holder of a custody receipt or trust
         certificate generally will have all the rights and privileges of owners
         of those securities.

                  Investing in custody receipts and trust certificates is
         subject to certain risks. Custody receipts and trust certificates
         generally are subject to the same risks as the securities evidenced by
         the receipts or certificates. Custody receipts and trust certificates
         also may be less liquid than the underlying securities.


4. The following is inserted as a subsection in the section captioned
"Permissible Investments and Related Risks--Derivatives":

         Index or Linked Securities (Structured Products)

                  General. Indexed or linked securities, also often referred to
         as "structured products," are instruments that may have varying
         combinations of equity and debt characteristics. These instruments are
         structured to recast the investment characteristics of the underlying
         security or reference asset. If the issuer is a unit investment trust
         or other special purpose vehicle, the structuring will typically
         involve the deposit with or purchase by such issuer of specified
         instruments (such as commercial bank loans or securities) and/or the
         execution of various derivative transactions, and the issuance by that
         entity of one or more classes of securities (structured securities)
         backed by, or representing interests in, the underlying instruments.
         The cash flow on the underlying instruments may be apportioned among
         the newly issued structured securities to create securities with
         different investment characteristics, such as varying maturities,
         payment priorities and interest rate provisions, and the extent of such
         payments made with respect to structured securities is dependent on the
         extent of the cash flow on the underlying instruments.

                  Indexed and Inverse Floating Rate Securities. A Fund may
         invest in securities that provide a potential return based on a
         particular index of value or interest rates. For example, a Fund may
         invest in securities that pay interest based on an index of interest
         rates. The principal amount payable upon maturity of certain securities
         also may be based on the value of the index. To the extent a Fund
         invests in these types of securities, a Fund's return on such
         securities will rise and fall with the value of the particular index:
         that is, if the value of the index falls, the value of the indexed
         securities owned by a Fund will fall. Interest and principal payable on
         certain securities may also be based on relative changes among
         particular indices.

                  A Fund may also invest in so-called "inverse floaters" or
         "residual interest bonds" on which the interest rates vary inversely
         with a floating rate (which may be reset periodically by a Dutch
         auction, a remarketing agent, or by reference to a short-term
         tax-exempt interest rate index). A Fund may purchase
         synthetically-created inverse floating rate bonds evidenced by
         custodial or trust receipts. Generally, income on inverse floating rate
         bonds will decrease when interest rates increase, and will increase
         when interest rates decrease. Such securities have the effect of
         providing a degree of investment leverage, since they may increase or
         decrease in value in response to changes, as an illustration, in market
         interest rates at a rate that is a multiple of the rate at which
         fixed-rate securities increase or decrease in response to such changes.
         As a result, the market values of such securities will generally be
         more volatile than the market values of fixed-rate securities. To seek
         to limit the volatility of these securities, a Fund may purchase
         inverse floating obligations that have shorter-term maturities or that
         contain limitations on the extent to which the interest rate may vary.
         Certain investments in such obligations may be illiquid. A Fund may
         invest in indexed and inverse securities for hedging purposes or to
         seek to increase returns. When used for hedging purposes, indexed and
         inverse securities involve correlation risk. Furthermore, where such a
         security includes a contingent liability, in the event of an adverse
         movement in the underlying index or interest rate, a Fund may be
         required to pay substantial additional margin to maintain the position.

                  Credit Linked Securities. Among the income producing
         securities in which a Fund may invest are credit linked securities. The
         issuers of these securities frequently are limited purpose trusts or
         other special purpose vehicles that, in turn, invest in a derivative
         instrument or basket of derivative instruments, such as credit default
         swaps, interest rate swaps and other securities, in order to provide
         exposure to certain fixed income markets. For instance, a Fund may
         invest in credit linked securities as a cash management tool in order
         to gain exposure to a certain market and/or to remain fully invested
         when more traditional income producing securities are not available.

                  Like an investment in a bond, investments in these credit
         linked securities represent the right to receive periodic income
         payments (in the form of distributions) and payment of principal at the
         end of the term of the security. However, these payments are
         conditioned on or linked to the issuer's receipt of payments from, and
         the issuer's potential obligations to, the counterparties to the
         derivative instruments and other securities in which the issuer
         invests. For instance, the issuer may sell one or more credit default
         swaps, under which the issuer would receive a stream of payments over
         the term of the swap agreements provided that no event of default has
         occurred with respect to the referenced debt obligation upon which the
         swap is based. If a default occurs, the stream of payments may stop and
         the issuer would be obligated to pay the counterparty the par (or other
         agreed upon value) of the referenced debt obligation. This, in turn,
         would reduce the amount of income and/or principal that a Fund would
         receive. A Fund's investments in these instruments are indirectly
         subject to the risks associated with derivative instruments, including,
         among others, credit risk, default or similar event risk, counterparty
         risk, interest rate risk, leverage risk and management risk. These
         securities generally are exempt from registration under the 1933 Act.
         Accordingly, there may be no established trading market for the
         securities and they may constitute illiquid investments.

                  Index-, Commodity-, Currency- and Equity-Linked Securities.
         "Index-linked" or "commodity-linked" notes are debt securities of
         companies that call for interest payments and/or payment at maturity in
         different terms than the typical note where the borrower agrees to make
         fixed interest payments and to pay a fixed sum at maturity. Principal
         and/or interest payments on an index-linked or commodity-linked note
         depend on the performance of one or more market indices, such as the
         S&P 500(R) Index, a weighted index of commodity futures such as crude
         oil, gasoline and natural gas or the market prices of a particular
         commodity or basket of commodities. Equity linked securities are
         short-term or intermediate term instruments having a value at maturity
         and/or interest rate determined by reference to the market prices of
         one or more equity securities. At maturity, the principal amount of an
         equity-linked debt security is often exchanged for common stock of the
         issuer or is payable in an amount based on the issuer's common stock
         price at the time of maturity. Currency-linked debt securities are
         short-term or intermediate-term instruments having a value at maturity,
         and/or an interest rate, determined by reference to one or more foreign
         currencies. Payment of principal or periodic interest may be calculated
         as a multiple of the movement of one currency against another currency,
         or against an index.

                  Index, commodity, currency and equity-linked securities may
         entail substantial risks. Such instruments may be subject to
         significant price volatility. The company issuing the instrument may
         fail to pay the amount due on maturity. The underlying investment or
         security may not perform as expected by the Advisor. Markets,
         underlying securities and indexes may move in a direction that was not
         anticipated by the Advisor. Performance of the derivatives may be
         influenced by interest rate and other market changes in the United
         States and abroad, and certain derivative instruments may be illiquid.

                  Linked securities are often issued by unit investment trusts.
         Examples of this include such index-linked securities as S&P Depositary
         Receipts (SPDRs), which is an interest in a unit investment trust
         holding a portfolio of securities linked to the S&P 500(R) Index, and a
         type of exchange-traded fund (ETF). Because a unit investment trust is
         an investment company under the 1940 Act, a Fund's investments in SPDRs
         are subject to the limitations set forth in Section 12(d)(1)(A) of the
         1940 Act. SPDRs closely track the underlying portfolio of securities,
         trade like a share of common stock and pay periodic dividends
         proportionate to those paid by the portfolio of stocks that comprise
         the S&P 500(R) Index. As a holder of interests in a unit investment
         trust, a Fund would indirectly bear its ratable share of that unit
         investment trust's expenses. At the same time, a Fund would continue to
         pay its own management and advisory fees and other expenses, as a
         result of which a Fund and its shareholders in effect would be
         absorbing levels of fees with respect to investments in such unit
         investment trusts.

                  Equity-linked securities include issues such as Structured
         Yield Product Exchangeable for Stock (STRYPES), Trust Automatic Common
         Exchange Securities (TRACES), Trust Issued Mandatory Exchange
         Securities (TIMES), and Trust Enhanced Dividend Securities (TRENDS).
         The issuers of these equity-linked securities generally purchase and
         hold a portfolio of stripped U.S. Treasury securities maturing on a
         quarterly basis through the conversion date, and a forward purchase
         contract with an existing shareholder of the company relating to the
         common stock. Quarterly distributions on such equity-linked securities
         generally consist of the cash received from the U.S. Treasury
         securities and such equity-linked securities generally are not entitled
         to any dividends that may be declared on the common stock.

                  Investing in structured products and linked securities is
         subject to certain risks. Because structured products typically involve
         no credit enhancement, their credit risk generally will be equivalent
         to that of the underlying instruments. Investments in structured
         products may be structured as a class that is either subordinated or
         unsubordinated to the right of payment of another class. Subordinated
         structured products typically have higher rates of return and present
         greater risks than unsubordinated structured products. Structured
         products sometimes are sold in private placement transactions and often
         have a limited trading market.

                  Investments in "linked" securities have the potential to lead
         to significant losses because of unexpected movements in the underlying
         financial asset, index, currency or other investment. The ability of a
         Fund to utilize linked-securities successfully will depend on its
         ability correctly to predict pertinent market movements, which cannot
         be assured. Because currency-linked securities usually relate to
         foreign currencies, some of which may be currency from emerging market
         countries, there are certain additional risks associated with such
         investments.

                  SPDRs are subject to the risks of an investment in a broadly
         based portfolio of common stocks, including the risk that the general
         level of stock prices may decline, thereby adversely affecting the
         value of such investment. In addition, because individual investments
         in SPDRs are not redeemable, except upon termination of the unit
         investment trust, the liquidity of small holdings of SPDRs will depend
         upon the existence of a secondary market. Large holdings of SPDRs are
         called "creation unit size" and are redeemable in-kind only and are not
         redeemable for cash from the unit investment trust. The price of a SPDR
         is derived from and based upon the securities held by the unit
         investment trust. Accordingly, the level of risk involved in the
         purchase or sale of a SPDR is similar to the risk involved in the
         purchase or sale of traditional common stock, with the exception that
         the pricing mechanism for SPDRs is based on a basket of stocks.
         Disruptions in the markets for the securities underlying SPDRs
         purchased or sold by a Fund could result in losses on SPDRs.


5. The following is inserted as a subsection in the section captioned
"Permissible Investments and Related Risks--Derivatives":

         Swap Agreements

                  Swap agreements are derivative instruments that can be
         individually negotiated and structured to include exposure to a variety
         of different types of investments or market factors. Depending on their
         structure, swap agreements may increase or decrease a Fund's exposure
         to long- or short-term interest rates, foreign currency values,
         mortgage securities, corporate borrowing rates, or other factors such
         as security prices or inflation rates. A Fund may enter into a variety
         of swap agreements, including interest rate, index, commodity, equity,
         credit default and currency exchange rate swap agreements, and other
         types of swap agreements such as caps, collars and floors. A Fund also
         may enter into swaptions, which are options to enter into a swap
         agreement.

                  In a typical interest rate swap, one party agrees to make
         regular payments equal to a floating interest rate times a "notional
         principal amount," in return for payments equal to a fixed rate times
         the same amount, for a specified period of time. If a swap agreement
         provides for payments in different currencies, the parties might agree
         to exchange notional principal amount as well. In a total return swap
         agreement, the non-floating rate side of the swap is based on the total
         return of an individual security, a basket of securities, an index or
         another reference asset. Swaps may also depend on other prices or
         rates, such as the value of an index or mortgage prepayment rates.

                  In a typical cap or floor agreement, one party agrees to make
         payments only under specified circumstances, usually in return for
         payment of a fee by the other party. For example, the buyer of an
         interest rate cap obtains the right to receive payments to the extent
         that a specified interest rate exceeds an agreed-upon level, while the
         seller of an interest rate floor is obligated to make payments to the
         extent that a specified interest rate falls below an agreed-upon level.
         Caps and floors have an effect similar to buying or writing options. A
         collar combines elements of buying a cap and selling a floor.

                  Swap agreements will tend to shift a Fund's investment
         exposure from one type of investment to another. For example, if a Fund
         agreed to pay fixed rates in exchange for floating rates while holding
         fixed-rate bonds, the swap would tend to decrease a Fund's exposure to
         long-term interest rates. Another example is if a Fund agreed to
         exchange payments in dollars for payments in foreign currency, the swap
         agreement would tend to decrease a Fund's exposure to U.S. interest
         rates and increase its exposure to foreign currency and interest rates.

                  Swap agreements are sophisticated hedging instruments that
         typically involve a small investment of cash relative to the magnitude
         of risks assumed. As a result, swaps can be highly volatile and may
         have a considerable impact on a Fund's performance. Depending on how
         they are used, swap agreements may increase or decrease the overall
         volatility of a Fund's investments and its share price and yield.
         Additionally, whether a Fund's use of swap agreements will be
         successful in furthering its investment objective will depend on the
         Advisor's ability correctly to predict whether certain types of
         investments likely are to produce greater returns than other
         investments. Because they are two party contracts and because they may
         have terms of greater than seven days, swap agreements may be
         considered to be illiquid. Moreover, a Fund bears the risk of loss of
         the amount expected to be received under a swap agreement in the event
         of the default or bankruptcy of a swap agreement counterparty. The most
         significant factor in the performance of swap agreements is the change
         in the specific interest rate, currency, or other factor that
         determines the amounts of payments due to and from a Fund. If a swap
         agreement calls for payments by a Fund, a Fund must be prepared to make
         such payments when due. In addition, if the counterparty's
         creditworthiness declines, the value of a swap agreement likely would
         decline, potentially resulting in losses for a Fund. A Fund will
         closely monitor the credit of a swap agreement counterparty in order to
         attempt to minimize this risk. A Fund may also suffer losses if it is
         unable to terminate outstanding swap agreements (either by assignment
         or other disposition) or reduce its exposure through offsetting
         transactions (i.e., by entering into an offsetting swap agreement with
         the same party or a similarly creditworthy party).

                  Credit Default Swap Agreements. A Fund may enter into credit
         default swap agreements, which may have as reference obligations one or
         more securities or a basket of securities that are or are not currently
         held by a Fund. The protection "buyer" in a credit default contract is
         generally obligated to pay the protection "seller" an upfront or a
         periodic stream of payments over the term of the contract provided that
         no credit event, such as a default, on a reference obligation has
         occurred. If a credit event occurs, the seller generally must pay the
         buyer the "par value" (full notional value) of the swap in exchange for
         an equal face amount of deliverable obligations of the reference entity
         described in the swap, or the seller may be required to deliver the
         related net cash amount, if the swap is cash settled. A Fund may be
         either the buyer or seller in the transaction. If a Fund is a buyer and
         no credit event occurs, a Fund may recover nothing if the swap is held
         through its termination date. However, if a credit event occurs, the
         buyer generally may elect to receive the full notional value of the
         swap in exchange for an equal face amount of deliverable obligations of
         the reference entity whose value may have significantly decreased. As a
         seller, a Fund generally receives an upfront payment or a fixed rate of
         income throughout the term of the swap provided that there is no credit
         event. As the seller, a Fund would effectively add leverage to its
         portfolio because, in addition to its total net assets, a Fund would be
         subject to investment exposure on the notional amount of the swap.

                  Credit default swap agreements may involve greater risks than
         if a Fund had invested in the reference obligation directly since, in
         addition to risks relating to the reference obligation, credit default
         swaps are subject to illiquidity risk, counterparty risk and credit
         risk. A Fund will enter into credit default swap agreements generally
         with counterparties that meet certain standards of creditworthiness. A
         buyer generally also will lose its investment and recover nothing
         should no credit event occur and the swap is held to its termination
         date. If a credit event were to occur, the value of any deliverable
         obligation received by the seller, coupled with the upfront or periodic
         payments previously received, may be less than the full notional value
         it pays to the buyer, resulting in a loss of value to the seller.

                  Equity Swaps. A Fund may engage in equity swaps. Equity swaps
         allow the parties to the swap agreement to exchange components of
         return on one equity investment (e.g., a basket of equity securities or
         an index) for a component of return on another non-equity or equity
         investment, including an exchange of differential rates of return.
         Equity swaps may be used to invest in a market without owning or taking
         physical custody of securities in circumstances where direct investment
         may be restricted for legal reasons or is otherwise impractical. Equity
         swaps also may be used for other purposes, such as hedging or seeking
         to increase total return.

                  The values of equity swaps can be very volatile. To the extent
         that the Advisor does not accurately analyze and predict the potential
         relative fluctuation on the components swapped with the other party, a
         Fund may suffer a loss. The value of some components of an equity swap
         (such as the dividend on a common stock) may also be sensitive to
         changes in interest rates. Furthermore, during the period a swap is
         outstanding, a Fund may suffer a loss if the counterparty defaults.

                  Total Return Swap Agreements. Total return swap agreements are
         contracts in which one party agrees to make periodic payments to
         another party based on the change in market value of the assets
         underlying the contract, which may include a specified security, basket
         of securities or securities indices during the specified period, in
         return for periodic payments based on a fixed or variable interest rate
         or the total return from other underlying assets. Total return swap
         agreements may be used to obtain exposure to a security or market
         without owning or taking physical custody of such security or investing
         directly in such market. Total return swap agreements may effectively
         add leverage to a Fund's portfolio because, in addition to its total
         net assets, a Fund would be subject to investment exposure on the
         notional amount of the swap.

                  Total return swap agreements are subject to the risk that a
         counterparty will default on its payment obligations to a Fund
         thereunder, and conversely, that a Fund will not be able to meet its
         obligation to the counterparty. Generally, a Fund will enter into total
         return swaps on a net basis (i.e., the two payment streams are netted
         against one another with a Fund receiving or paying, as the case may
         be, only the net amount of the two payments). The net amount of the
         excess, if any, of a Fund's obligations over its entitlements with
         respect to each total return swap will be accrued on a daily basis, and
         an amount of liquid assets having an aggregate net asset value at least
         equal to the accrued excess will be segregated by a Fund. If the total
         return swap transaction is entered into on other than a net basis, the
         full amount of a Fund's obligations will be accrued on a daily basis,
         and the full amount of a Fund's obligations will be segregated by a
         Fund in an amount equal to or greater than the market value of the
         liabilities under the total return swap agreement or the amount it
         would have cost a Fund initially to make an equivalent direct
         investment, plus or minus any amount a Fund is obligated to pay or is
         to receive under the total return swap agreement.

                  Variance, Volatility and Correlation Swap Agreements. Variance
         and volatility swaps are contracts that provide exposure to increases
         or decreases in the volatility of certain referenced assets.
         Correlation swaps are contracts that provide exposure to increases or
         decreases in the correlation between the prices of different assets or
         different market rates.


6. The following is inserted as a subsection in the section captioned
"Permissible Investments and Related Risks":

         When-Issued, Delayed Delivery and Forward Commitment Transactions

                  When-issued, delayed delivery and forward commitment
         transactions involve the purchase or sale of securities by a Fund, with
         payment and delivery taking place in the future. When engaging in
         when-issued, delayed delivery and forward commitment transactions, a
         Fund typically will hold cash or liquid securities in a segregated
         account in an amount equal to or greater than the purchase price. The
         payment obligation and, if applicable, the interest rate that will be
         received on the securities, are fixed at the time that a Fund agrees to
         purchase the securities. A Fund generally will enter into when-issued,
         delayed delivery and forward commitment transactions only with the
         intention of completing such transactions. However, the Advisor may
         determine not to complete a transaction if it deems it appropriate. In
         such cases, a Fund may realize short-term gains or losses.

                  When-issued, delayed delivery and forward commitment
         transactions involve the risks that the securities purchased may fall
         in value by the time they actually are issued or that the other party
         may fail to honor the contract terms. A Fund that invests in delayed
         delivery securities may rely on a third party to complete the
         transaction. Failure by a third party to deliver a security purchased
         on a delayed delivery basis may result in a financial loss to a Fund or
         the loss of an opportunity to make an alternative investment.






        Shareholders should retain this Supplement for future reference.






INT-50/12901-0409