<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>exh.txt
<TEXT>
Colonial Municipal Income Trust

On April 4, 2003, Colonial Municipal Income Trust (Fund) purchased $675,000 par
value of bonds of Long Island Power Authority 5.00% 06/01/09 (Securities) for a
total purchase price of $720,900 from Smith Barney Shearson/CMTA 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, Columbia Management Advisors, Inc. 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 aforementioned Securities: UBS PaineWebber,
Inc.; Goldman, Sachs & Co.; ABN Amro Financial Services; Inc. Bear, Stearns
& Co. Inc.; First Albany Corporation; David Lerner Associates, Inc.; JP Morgan;
Ramirez & Co., Inc.; Roosevelt & Cross, Inc.; Advest, Inc./Lebenthal & Co.; CIBC
World Markets; Jackson Securities; McDonald Investments, Inc.; Prager, Sealy &
Co., LLC; Raymond James & Associates, Inc.; Siebert Brandford Shank & Co., LLC;
Salomon Smith Barney; MR Beal & Company; A.G. Edwards & Sons, Inc.; Lehman
Brothers; Merrill Lynch & Co.; RBC Dain Rauscher Inc.; Wachovia Bank, National
Association.

On April 4, 2003, Colonial Municipal Income Trust (Fund) purchased $325,000 par
value of bonds of Long Island Power Authority 5.00% 06/01/09 (Securities) for a
total purchase price of $347,100 from PaineWebber/SBC 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, Columbia Management Advisors, Inc. 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 aforementioned Securities: UBS PaineWebber, Inc.;
Goldman,  Sachs & Co.; ABN Amro Financial  Services;  Bear, Stearns & Co., Inc.;
First Albany Corporation;  David Lerner Associates,  Inc.; JP Morgan;  Ramirez &
Co., Inc.;  Roosevelt & Cross,  Inc.;  Advest,  Inc./Lebenthal & Co.; CIBC World
Markets;  Jackson Securities;  McDonald Investments,  Inc.; Prager, Sealy & co.,
LLC;  Raymond  James & Associates,  Inc.;  Siebert  Brandford  Shank & Co., LLC;
Salomon Smith  Barney;  MR Beal & Company;  A.G.  Edwards & Sons,  Inc.;  Lehman
Brothers;  Merrill Lynch & Co.; RBC Dain Rauscher Inc.;  Wachovia Bank, National
Association.

On April 11, 2003, Colonial Municipal Income Trust (Fund) purchased $210,000 par
value of bonds of Puerto Rico Highways and Transportation Authority 5.50%
7/1/2018 (Securities) for a total purchase price of $239,379 from Lehman
Brothers 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, Columbia Management Advisors, Inc. 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 aforementioned Securities:  Salomon Smith Barney;
Merrill  Lynch & Co.;  Banc of America  Securities  LLC;  Lehman  Brothers;  UBS
PaineWebber,  Inc.;  Goldman,  Sachs & Co.;  Raymond James &  Associates,  Inc.;
Morgan  Stanley;  JP  Morgan;  Samuel A.  Ramirez & Co.,  Inc.;  Wachovia  Bank,
National Association.

On April 11, 2003, Colonial Municipal Income Trust (Fund) purchased $165,000 par
value of bonds of Puerto Rico Highways and Transportation Authority 5.50%
7/1/2018 (Securities) for a total purchase price of $239,379 from Morgan
Stanley/Lattice 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, Columbia Management Advisors, Inc. 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 aforementioned Securities:  Salomon Smith Barney;
Merrill  Lynch & Co.;  Banc of America  Securities  LLC;  Lehman  Brothers;  UBS
PaineWebber,  Inc.;  Goldman,  Sachs & Co.;  Raymond James &  Associates,  Inc.;
Morgan  Stanley;  JP  Morgan;  Samuel A.  Ramirez & Co.,  Inc.;  Wachovia  Bank,
National Association.


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