<DOCUMENT>
<TYPE>EX-99.2D
<SEQUENCE>7
<FILENAME>subscriptionagrmnt.txt
<DESCRIPTION>EXHIBIT 2(D)(V) SUBSCRIPTION AGENT AGREEMENT
<TEXT>

[GRAPHIC OMITTED]


                             The Colbent Corporation
                          Boulder Growth & Income Fund
                            Rights Offering Proposal




A.   Fees for Services*
<TABLE>
<CAPTION>

---------------------------------------------------------------- -------------------------------------------------------------------
                         Fee                                                                Service Provided
---------------------------------------------------------------- -------------------------------------------------------------------

<S>                                                              <C>
$7500.00                                                         Project Management Fee
================================================================ ===================================================================

$1.00                                                            Per subscription form generated
================================================================ ===================================================================

$0.25 and up                                                     Mailing of Subscription Form - cost depends on the number of
                                                                 enclosures
================================================================ ===================================================================

$6.00                                                            Per subscription form processed (registered and beneficial)
================================================================ ===================================================================

$6.50                                                            Per defective subscription form received
================================================================ ===================================================================

$3.00                                                            Per notice of guaranteed delivery received
================================================================ ===================================================================

$1.50                                                            Per sale of right (if applicable)
================================================================ ===================================================================

$2.25                                                            Per invoice mailed (if applicable)
================================================================ ===================================================================

$.75                                                             Per refund check issued and enclosed (if applicable)
================================================================ ===================================================================

$3.00                                                            Per solicitation check processed and mailed (if applicable)
================================================================ ===================================================================

$6.00                                                            Per withdrawal of subscription certificate (if applicable)
================================================================ ===================================================================

$1500.00                                                         Per Pro-ration (if applicable)
================================================================ ===================================================================

$1000.00                                                         Per offer extension
================================================================ ===================================================================

$5000.00                                                         Minimum charge should the project be cancelled for any reason prior
                                                                 to the mailing of the subscription form
================================================================ ===================================================================

$500.00/month                                                    DTCC connectivity fee; typically one month
================================================================ ===================================================================

</TABLE>


o    Excludes  out-of-pocket  expenses  as  described  in Section C,  "Items Not
     Covered"


                             The Colbent Corporation
                                  Confidential

<PAGE>

B.   Services Covered


     o    Designate an operational team to carry out Subscription  Agent duties,
          including document review and execution of legal agreement,  review of
          subscription forms and communication materials, project management and
          on-going project updates and reporting.

     o    Calculating  Rights to be distributed to each shareholder and printing
          shareholder information on the subscription form.

     o    Issuing  subscription  forms,  and  causing  forms  to  be  mailed  to
          registered shareholders.

     o    Tracking and reporting the number of exercises made, as required.

     o    Processing Rights received and exercised.

     o    Deposit  participant checks daily and forward all participant funds to
          Fund at the end of the offering period.

     o    Providing receipt summation of checks received.

     o    Issuing/  Printing (if  applicable,)  and mailing  stock  certificates
          and/or checks.

     o    Interfacing with the Information Agent.

     o    Calculating, issuing and mailing of proration and/or over-subscription
          checks if applicable.

     o    Calculating, issuing and mailing of solicitation checks if applicable.

     o    Produce and mail 1099B's (for the sale of rights), if applicable.


C.   Items Not Covered


     o    Items not  specified in the  "Services  Covered"  section set forth in
          this  Agreement,  including any services  associated  with new duties,
          legislation or regulatory  fiat which become  effective after the date
          of this Agreement (these will be provided on an appraisal basis)

     o    All   out-of-pocket   expenses   such  as  telephone   line   charges,
          certificates,  checks, postage,  stationary, wire transfers and excess
          material disposal (these will be billed as incurred)

     o    Reasonable legal review fees if referred to outside counsel.

     o    Overtime  charges  assessed in the event of late  delivery of material
          for mailings unless the target mail date is rescheduled.


D.   Assumptions


     o    Proposal based upon document review and information known at this time
          about the transaction.

     o    Significant   changes  made  in  the  term  or  requirements  of  this
          transaction could require modifications to this proposal.

     o    Proposal must be executed prior to the initial mailing.

     o    Company responsible for printing of materials (Rights Card, Prospectus
          and ancillary documents).

     o    Material  to be mailed to  shareholders  must be received no less than
          five (5) business days prior to the start of the mailing project.

     o    Accrued  interest in Deposit account will be used to offset bank fees.
          All remaining account interest will go back to the company.


<PAGE>

E.   Payment for Services

     o    The  Project  Management  Fee will be rendered  and  payable  upon the
          effective date of the  transaction.  An invoice for any  out-of-pocket
          and per items fees  realized will be rendered and payable on a monthly
          basis,  except for postage expenses in excess of $5,000.00.  Funds for
          such mailing  expenses  must be received one (1) business day prior to
          the scheduled mail date.



--------------------------------------------------------------------------------

--------------------------------------------------------------------------------



The Colbent Corporation

By:                                             By:
     Carmine C. Chirichiello

Title: President, The Colbent Corporation       Title:


Date:                                           Date:

</TEXT>
</DOCUMENT>
