Columbia Institutional Funds

Columbia Money Market Reserves and Columbia Cash Reserves Update

As of September 8, 2009, the following securities are no longer holdings in Columbia Money Market Reserves and Columbia Cash Reserves. These securities were purchased from the funds by an affiliate of Bank of America at prices equal to the amortized cost value, plus accrued interest, if any.


	Columbia Cash Reserves	View Holdings (PDF)
	Axon Financial Funding LLC
	Issuer Entity (formerly, Ottimo)
	Wickersham Issuer Entity (formerly, Thornburg)
	Victoria Finance

	Columbia Money Market Reserves	View Holdings (PDF)
	Axon Financial Funding LLC

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

Portfolio holdings are subject to change periodically and may not be representative of current holdings. Current and future holdings are subject to risk, including, but not limited to, market and credit risk.

Stanford

February 23, 2009

The portfolios managed by Columbia Management Advisors, LLC and Columbia Wanger Asset Management, L.P. do not have any investment exposure to, or current trading relationships with, Stanford International Bank, Ltd.; Stanford Group Company or Stanford Capital Management, LLC (Stanford).

Bernard L. Madoff Investment Securities LLC.

December 19, 2008

The Columbia Funds do not have any direct or counterparty exposure to Bernard L. Madoff Investment Securities LLC.

Fannie Mae and Freddie Mac

As of September 5, 2008 at the close of business:

Columbia Management’s actively managed equity mutual funds, not including the Columbia Global Value Fund, held no shares of either Federal National Mortgage Association (Fannie Mae) or Federal Home Loan Mortgage Corporation (Freddie Mac) common stock.

Columbia Global Value Fund, a fund sponsored by Columbia and sub advised by Brandes Investment Partners, L.P., had a small exposure (under 1% of the Fund) to Fannie Mae and Freddie Mac common stock.

Columbia Dividend Income Fund, one of Columbia Management’s actively managed equity mutual funds, had a small exposure (under 1% of the Fund) to shares of Fannie Mae preferred stock.

Columbia Management’s index funds are managed based on a process of passive replication and their exposure to Fannie Mae and Freddie Mac common stock is consistent with the exposure and weighting in their respective indexes.

As of September 8, 2008, the government action taken on Fannie Mae and Freddie Mac appears to be having an immediate positive impact on the value of agency debt - both senior and subordinated - and on agency mortgage-related securities held in Columbia Management’s cash and fixed income portfolios.

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. Columbia Funds are distributed by Columbia Management Distributors, Inc., member FINRA and SIPC. Columbia Management Distributors, Inc. is part of Columbia Management and an affiliate of Bank of America Corporation.



	Exposure Updates

Exposure Updates