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<TYPE>EX-99
<SEQUENCE>3
<FILENAME>exh.txt
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77O Transactions effected pursuant to Rule 10f-3

On January 24, 2003, Colonial Intermediate High Income Fund (Fund) purchased
250,000 par value of common stock notes of Houghton Mifflin Company 9.875%
02/01/2013 (Securities) for a total purchase price of $248,050 from Goldman,
Sachs & Co. pursuant to a public offering in which Fleet Securities, Inc. acted
as a participating underwriter. Fleet Securities, 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, 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 Fleet Securities, Inc., the following is a list of members of the
underwriting syndicate for the aforementioned Securities: CIBC World Markets;
Deutsche Bank Securities; Goldman, Sachs & Co.


Colonial Intermediate High Income Fund

On January 28, 2003, Colonial Intermediate High Income Fund (Fund) purchased
200,000 par value of common stock notes of The Premcor Refining Group, Inc.
9.5% 02/01/2013 (Securities) for a total purchase price of $200,000 from First
Boston Corp. pursuant to a public offering in which Fleet Securities, Inc.
acted as a participating underwriter. Fleet Securities, 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, 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 Fleet Securities, Inc., the following is a list of members of the
underwriting  syndicate for the  aforementioned  Securities:  Credit Suisse
First Boston; Morgan Stanley; Deutsche Bank Securities; Goldman, Sachs & Co.


Colonial Intermediate High Income Fund

On January 28, 2003, Colonial Intermediate High Income Fund (Fund) purchased
155,000 par value of common stock notes of The Premcor Refining Group, Inc.
9.5% 02/01/2010 (Securities) for a total purchase price of $155,000 from First
Boston Corp. pursuant to a public offering in which Fleet Securities, Inc.
acted as a participating underwriter. Fleet Securities, 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, 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 Fleet Securities, Inc., the following is a list of members of the
underwriting  syndicate for the  aforementioned  Securities:  Credit Suisse
First Boston; Morgan Stanley; Deutsche Bank Securities; Goldman, Sachs & Co.



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