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<TYPE>EX-99
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<FILENAME>exh.txt
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Colonial Municipal Income Trust (Fund)

77L Changes in accounting principals and practices

The Fund has proposed to revoke its ss.171(c) election under the Internal
Revenue Code, thus changing its accounting method for premium amortization.

As required, effective December 1, 2001, the Colonial Municipal Income
Trust has adopted the provisions of the AICPA Audit and Accounting
Guide for Investment Companies and began amortizing and accreting all
premiums and discounts on debt securities as required for adherence
to generally accepted accounting principles. The financial statements
and notes to financial statements have been adjusted accordingly for
the Fund, which were materially impacted by this change.

770 Transactions effected pursuant to Rule 10f-3

On December 19, 2001,  Colonial Municipal Income Trust (Fund) purchased $900,000
par value of bonds of Puerto Rico Public  Authority  Finance  (Securities) for a
total purchase price of $957,663 from Morgan,  Stanley & Co., Inc. pursuant to a
public  offering  in  which  Quick  &  Reilly,  Inc.  acted  as a  participating
underwriter.  Quick & Reilly,  Inc. may be  considered to be an affiliate of the
Fund.
       The following information was collected pursuant to Rule 10f-3 procedures
adopted by the Fund's Trustees:

o        The Fund's advisor, Colonial Management Associates (Advisor), believed
         that the gross underwriting spread associated with the purchase of the
         Securities was reasonable and fair compared to the spreads in
         connection with similar underwritings of similar securities being sold
         during a comparable period of time;

o        The Securities were offered pursuant to an underwriting or similar
         agreement under which the underwriters were committed to purchase all
         of the Securities being offered;

o        The issuer of the Securities has been in continuous operation for at
         least three years;

o        The amount of Securities purchased did not exceed 25% of the amount
         of the offering;

o The Securities were to be purchased at not more than the public offering price
no later than the first day of the offering.

Along with Quick & Reilly, Inc., the following is a list of members of
the underwriting syndicate for the afore mentioned Securities: Goldman, Sachs &
Co.; Salomon Smith Barney Inc.; Bear, Stearns & Co., Inc.; Banc of America
Securities, LLC; Merrill Lynch & Co.; UBS PaineWebber, Inc.; Morgan Stanley &
Co.; Lehman Brothers; First Union National Bank; ABN Amro Financial Services,
Inc.



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