Notice of Future Changes in Exchange Options

Bank of America previously announced its decision to sell Columbia Management’s long-term asset management business to Ameriprise Financial, Inc. This includes the management of Columbia Management’s equity and fixed-income mutual funds. The transaction is subject to certain approvals and other conditions of closing and is currently expected to occur in the spring of this year. Bank of America also previously announced that it will retain Columbia Management’s cash business, including the management of Columbia Management’s money market funds.

Because the cash business is being split from the long-term business, investors in Columbia Management’s money market funds will no longer be able to exchange into the long-term mutual funds and vice versa. This restriction in exchange options is subject to the transaction closing and becomes effective upon closing.

Effective with and subject to the closing, it is anticipated that a money market fund advised by RiverSource Investments, LLC, a subsidiary of Ameriprise Financial, will be available as an exchange option for Columbia long-term mutual fund investors.

An investment in money market mutual funds is not insured or guaranteed by Bank of America, N.A. or its affiliates, or by the Federal Deposit Insurance Corporation or any other government agency. Although money market mutual funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in money market mutual funds.

Please read and consider the investment objectives, risks, charges and expenses for any fund carefully before investing. For a prospectus, which contains this and other important information about the fund, contact your Columbia Management representative or financial advisor or go to www.columbiamanagement.com.

Columbia Management Group, LLC (“Columbia Management”) is the investment management division of Bank of America Corporation. Columbia Management entities furnish investment management services and products for institutional and individual investors. Funds are distributed by Columbia Management Distributors, Inc., member FINRA and SIPC.

Columbia Management Advisors, LLC (“CMA”) is an SEC-registered investment advisor and indirect, wholly owned subsidiary of Bank of America Corporation and is part of Columbia Management.