<DOCUMENT>
<TYPE>EX-99
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<FILENAME>exh.txt
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Columbia Intermediate High Income Fund

77E Legal Proceedings

On February 9, 2005, Columbia and the Distributor (collectively, the "Columbia
Group") entered into an Assurance of Discontinuance with the New York Attorney
General ("NYAG") (the "NYAG Settlement") and consented to the entry of a
cease-and-desist order by the Securities and Exchange Commission ("SEC") (the
"SEC Order"). The SEC Order and the NYAG Settlement are referred to collectively
as the "Settlements". The Settlements contain substantially the same terms and
conditions as outlined in the agreements in principle which Columbia Group
entered into with the SEC and NYAG in March 2004.

Under the terms of the SEC Order, the Columbia Group has agreed among other
things, to: pay $70 million in disgorgement and $70 million in civil money
penalties; cease and desist from violations of the antifraud provisions and
certain other provisions of the federal securities laws; maintain certain
compliance and ethics oversight structures; retain an independent consultant to
review the Columbia Group's applicable supervisory, compliance, control and
other policies and procedures; and retain an independent distribution consultant
(see below). The Columbia Funds have also undertaken to implement certain
governance measures designed to maintain the independence of their boards of
trustees. The NYAG Settlement also, among other things, requires Columbia and
its affiliates, Banc of America Capital Management, LLC and BACAP Distributors,
LLC to reduce certain Columbia Funds, Nations Funds and other mutual funds
management fees collectively by $32 million per year for five years, for a
projected total of $160 million in management fee reductions.

Pursuant to the procedures set forth in the SEC order, the $140 million in
settlement amounts described above will be distributed in accordance with a
distribution plan to be developed by an independent distribution consultant, who
is acceptable to the SEC staff and the Columbia Funds' independent trustees. The
distribution plan must be based on a methodology developed in consultation with
the Columbia Group and the Fund's independent trustees and not unacceptable to
the staff of the SEC. At this time, the distribution plan is still under
development. As such, any gain to the fund or its shareholders can not currently
be determined.

As a result of these matters or any adverse publicity or other developments
resulting from them, there may be increased redemptions or reduced sales of fund
shares, which could increase transaction costs or operating expenses, or have
other adverse consequences for the funds.

A copy of the SEC Order is available on the SEC website at http://www.sec.gov. A
copy of the NYAG Settlement is available as part of the Bank of America
Corporation Form 8-K filing on February 10, 2005.

On January 11, 2005, a putative class action lawsuit was filed in federal
district court in Massachusetts against, among others, the Trustees of the Funds
and Columbia. The lawsuit alleges that defendants violated common law duties to
fund shareholders as well as sections of the Investment Company Act of 1940, by
failing to ensure that the Funds and other affiliated funds participated in
securities class action settlements for which the funds were eligible.
Specifically, plaintiffs allege that defendants failed to submit proof of claims
in connection with settlements of securities class action lawsuits filed against
companies in which the funds held positions.

In 2004, certain Columbia funds, advisers and affiliated entities were named as
defendants in certain purported shareholder class and derivative actions making
claims, including claims under the Investment Company and the Investment
Advisers Acts of 1940 and state law. The suits allege, inter alia, that the fees
and expenses paid by the funds are excessive and that the advisers and their
affiliates inappropriately used fund assets to distribute the funds and for
other improper purpose. On March 2, 2005, the actions were consolidated in the
Massachusetts federal court as In re Columbia Entities Litigation. The
plaintiffs are expected to file a consolidated amended complaint in June 2005.

The Funds and the other defendants to these actions, including Columbia and
various of its affiliates, certain other mutual funds advised by Columbia and
its affiliates, and various directors of such funds, have denied these
allegations and are contesting the plaintiffs' claims. These proceedings are
ongoing, however, based on currently available information, Columbia believes
that these lawsuits are without merit, that the likelihood they will have a
material adverse impact on any fund is remote, and that the lawsuits are not
likely to materially affect its ability to provide investment management
services to its clients, including the Funds.
In connection with events described in detail above, various parties have filed
suit against certain funds, their Boards, FleetBoston Financial Corporation and
its affiliated entities and/or Bank of America Corporation and its affiliated
entities. More than 300 cases including those filed against entities
unaffiliated with the funds, their Boards, FleetBoston Financial Corporation and
its affiliated entities and/or Bank of America Corporation and its affiliated
entities have been transferred to the Federal District Court in Maryland and
consolidated in a multi-district proceeding (the "MDL"). On March 21, 2005
purported class action plaintiffs filed suit in Massachusetts state court
alleging that the conduct, including market timing, entitles Class B
shareholders in certain Columbia funds to an exemption from contingent deferred
sales charges upon early redemption (the "CDSC Lawsuit"). The CDSC Lawsuit has
been removed to federal court in Massachusetts and the federal Judicial Panel
has conditionally ordered its transfer to the MDL. The MDL is ongoing.
Accordingly, an estimate of the financial impact of this litigation on any Fund,
if any, can not currently be made.

For the year ended April 30, 2005, Columbia has assumed $8,401, $16,682 and
$38,306 for the Columbia Corporate Bond Fund, Columbia Intermediate Government
Income Fund and Columbia Quality Plus Bond Fund, respectively, of legal,
consulting services and Trustees' fees incurred by the Funds in connection with
these matters.

770 Transactions effected pursuant to Rule 10f-3

Colonial Intermediate High Income Fund

On January 20, 2005, Colonial Intermediate High Income Fund (Fund) purchased
125,000 par value of notes of Carriage Service CVS 7 7/8 01/15/15 (Securities)
for a total purchase price of $125,000 from Merrill Lynch Pierce, Fenner and
Smith
pursuant to a public offering in which Banc of America Securities acted as a
participating underwriter. Banc of America Securities 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. (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 Banc of America Securities, the following is a list of members of the
underwriting  syndicate for the  aforementioned  Securities:  Citigroup,  Credit
Suisse First Boston Corp.,  Deutsche Bank Securities Inc.,  Lehman Brothers,  SG
Corporate & Investment Banking,  Calyon Securities USA Inc., Commerzbank AG, Key
Capital Markets Inc., RBS Greenwich  Capital,  Wells Fargo  Securities,  Merrill
Lynch & Co., ABN Amro,  Piper  Jaffray & Co.,  Scotia  Capital  Inc.,  JP Morgan
Securities, Bear Stearns & Co. Inc., Wachovia Securities Inc., UBS, BNP Paribas,
Comerica  Securities,  Fortis  Investment  Services,  Harris  Nesbitt,  Hibernia
Southcoast Capital,  Keybank Capital Markets,  Allen & Co., Blaylock & Partners,
SunTrust Robinson Humphrey, Morgan Stanley.


<PAGE>


770 Transactions effected pursuant to Rule 10f-3

Colonial Intermediate High Income Fund

On January 24, 2005, Colonial Intermediate High Income Fund (Fund) purchased
290,000 par value of notes of Intelsat, LTD., 8 1/4 1/13 (Securities) for a
total purchase price of $290,000 from Deutsche Bank Securities Inc. pursuant to
a public offering in which Banc of America Securities acted as a participating
underwriter. Banc of America Securities 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. (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 Banc of America Securities, the following is a list of members of the
underwriting  syndicate for the  aforementioned  Securities:  Citigroup,  Credit
Suisse First Boston Corp.,  Deutsche Bank Securities Inc.,  Lehman Brothers,  SG
Corporate & Investment Banking,  Calyon Securities USA Inc., Commerzbank AG, Key
Capital Markets Inc., RBS Greenwich  Capital,  Wells Fargo  Securities,  Merrill
Lynch & Co., ABN Amro,  Piper  Jaffray & Co.,  Scotia  Capital  Inc.,  JP Morgan
Securities, Bear Stearns & Co. Inc., Wachovia Securities Inc., UBS, BNP Paribas,
Comerica  Securities,  Fortis  Investment  Services,  Harris  Nesbitt,  Hibernia
Southcoast Capital,  Keybank Capital Markets,  Allen & Co., Blaylock & Partners,
SunTrust Robinson Humphrey, Morgan Stanley.


<PAGE>


770 Transactions effected pursuant to Rule 10f-3

Colonial Intermediate High Income Fund

On January 24, 2005, Colonial Intermediate High Income Fund (Fund) purchased
165,000 par value of notes of Intelsat, LTD., FLTR 1/12 (Securities) for a total
purchase price of $165,000 from Deutsche Bank Securities Inc. pursuant to a
public offering in which Banc of America Securities acted as a participating
underwriter. Banc of America Securities 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. (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 Banc of America Securities, the following is a list of members of the
underwriting  syndicate for the  aforementioned  Securities:  Citigroup,  Credit
Suisse First Boston Corp.,  Deutsche Bank Securities Inc.,  Lehman Brothers,  SG
Corporate & Investment Banking,  Calyon Securities USA Inc., Commerzbank AG, Key
Capital Markets Inc., RBS Greenwich  Capital,  Wells Fargo  Securities,  Merrill
Lynch & Co., ABN Amro,  Piper  Jaffray & Co.,  Scotia  Capital  Inc.,  JP Morgan
Securities, Bear Stearns & Co. Inc., Wachovia Securities Inc., UBS, BNP Paribas,
Comerica  Securities,  Fortis  Investment  Services,  Harris  Nesbitt,  Hibernia
Southcoast Capital,  Keybank Capital Markets,  Allen & Co., Blaylock & Partners,
SunTrust Robinson Humphrey, Morgan Stanley.


<PAGE>


770 Transactions effected pursuant to Rule 10f-3

Colonial Intermediate High Income Fund

On January 25, 2005, Colonial Intermediate High Income Fund (Fund) purchased
40,000 par value of notes of Del Monte 6 3/4 2/15/15 (Securities) for a total
purchase price of $40,000 from Morgan Stanley pursuant to a public offering in
which Banc of America Securities acted as a participating underwriter. Banc of
America Securities 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. (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 Banc of America Securities, the following is a list of members of the
underwriting  syndicate for the  aforementioned  Securities:  Citigroup,  Credit
Suisse First Boston Corp.,  Deutsche Bank Securities Inc.,  Lehman Brothers,  SG
Corporate & Investment Banking,  Calyon Securities USA Inc., Commerzbank AG, Key
Capital Markets Inc., RBS Greenwich  Capital,  Wells Fargo  Securities,  Merrill
Lynch & Co., ABN Amro,  Piper  Jaffray & Co.,  Scotia  Capital  Inc.,  JP Morgan
Securities, Bear Stearns & Co. Inc., Wachovia Securities Inc., UBS, BNP Paribas,
Comerica  Securities,  Fortis  Investment  Services,  Harris  Nesbitt,  Hibernia
Southcoast Capital,  Keybank Capital Markets,  Allen & Co., Blaylock & Partners,
SunTrust Robinson Humphrey, Morgan Stanley.



<PAGE>


770 Transactions effected pursuant to Rule 10f-3

Colonial Intermediate High Income Fund

On January 25, 2005, Colonial Intermediate High Income Fund (Fund) purchased
170,000 par value of notes of Tenet Health Care THC 9 1/4 2/1/15 (Securities)
for a total purchase price of $167,290.20 from Citigroup Global Markets/Salomon
Brothers pursuant to a public offering in which Banc of America Securities acted
as a participating underwriter. Banc of America Securities 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. (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 Banc of America Securities, the following is a list of members of the
underwriting  syndicate for the  aforementioned  Securities:  Citigroup,  Credit
Suisse First Boston Corp.,  Deutsche Bank Securities Inc.,  Lehman Brothers,  SG
Corporate & Investment Banking,  Calyon Securities USA Inc., Commerzbank AG, Key
Capital Markets Inc., RBS Greenwich  Capital,  Wells Fargo  Securities,  Merrill
Lynch & Co., ABN Amro,  Piper  Jaffray & Co.,  Scotia  Capital  Inc.,  JP Morgan
Securities, Bear Stearns & Co. Inc., Wachovia Securities Inc., UBS, BNP Paribas,
Comerica  Securities,  Fortis  Investment  Services,  Harris  Nesbitt,  Hibernia
Southcoast Capital,  Keybank Capital Markets,  Allen & Co., Blaylock & Partners,
SunTrust Robinson Humphrey, Morgan Stanley.



<PAGE>


770 Transactions effected pursuant to Rule 10f-3

Colonial Intermediate High Income Fund

On February 3, 2005, Colonial Intermediate High Income Fund (Fund) purchased
210,000 par value of notes of Mohegan Tribal Gaming 6 1/8 2/13 (Securities) for
a total purchase price of $210,000 from Citigroup Global Markets/Salomon
Brothers pursuant to a public offering in which Banc of America Securities acted
as a participating underwriter. Banc of America Securities 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. (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 Banc of America Securities, the following is a list of members of the
underwriting  syndicate for the  aforementioned  Securities:  Citigroup,  Credit
Suisse First Boston Corp.,  Deutsche Bank Securities Inc.,  Lehman Brothers,  SG
Corporate & Investment Banking,  Calyon Securities USA Inc., Commerzbank AG, Key
Capital Markets Inc., RBS Greenwich  Capital,  Wells Fargo  Securities,  Merrill
Lynch & Co., ABN Amro,  Piper  Jaffray & Co.,  Scotia  Capital  Inc.,  JP Morgan
Securities, Bear Stearns & Co. Inc., Wachovia Securities Inc., UBS, BNP Paribas,
Comerica  Securities,  Fortis  Investment  Services,  Harris  Nesbitt,  Hibernia
Southcoast Capital,  Keybank Capital Markets,  Allen & Co., Blaylock & Partners,
SunTrust Robinson Humphrey, Morgan Stanley.



<PAGE>


770 Transactions effected pursuant to Rule 10f-3

Colonial Intermediate High Income Fund

On February 4, 2005, Colonial Intermediate High Income Fund (Fund) purchased
40,000 par value of notes of Radio One 6 3/8 2/13 (Securities) for a total
purchase price of $40,000 from Credit Suisse First Boston Corp. pursuant to a
public offering in which Banc of America Securities acted as a participating
underwriter. Banc of America Securities 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. (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 Banc of America Securities, the following is a list of members of the
underwriting  syndicate for the  aforementioned  Securities:  Citigroup,  Credit
Suisse First Boston Corp.,  Deutsche Bank Securities Inc.,  Lehman Brothers,  SG
Corporate & Investment Banking,  Calyon Securities USA Inc., Commerzbank AG, Key
Capital Markets Inc., RBS Greenwich  Capital,  Wells Fargo  Securities,  Merrill
Lynch & Co., ABN Amro,  Piper  Jaffray & Co.,  Scotia  Capital  Inc.,  JP Morgan
Securities, Bear Stearns & Co. Inc., Wachovia Securities Inc., UBS, BNP Paribas,
Comerica  Securities,  Fortis  Investment  Services,  Harris  Nesbitt,  Hibernia
Southcoast Capital,  Keybank Capital Markets,  Allen & Co., Blaylock & Partners,
SunTrust Robinson Humphrey, Morgan Stanley.



<PAGE>


770 Transactions effected pursuant to Rule 10f-3

Colonial Intermediate High Income Fund

On February 10, 2005, Colonial Intermediate High Income Fund (Fund) purchased
85,000 par value of notes of NTK Holdings Inc. 3/14 (Securities) for a total
purchase price of $52,815.60 from Credit Suisse First Boston Corp. pursuant to a
public offering in which Banc of America Securities acted as a participating
underwriter. Banc of America Securities 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. (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 Banc of America Securities, the following is a list of members of the
underwriting  syndicate for the  aforementioned  Securities:  Citigroup,  Credit
Suisse First Boston Corp.,  Deutsche Bank Securities Inc.,  Lehman Brothers,  SG
Corporate & Investment Banking,  Calyon Securities USA Inc., Commerzbank AG, Key
Capital Markets Inc., RBS Greenwich  Capital,  Wells Fargo  Securities,  Merrill
Lynch & Co., ABN Amro,  Piper  Jaffray & Co.,  Scotia  Capital  Inc.,  JP Morgan
Securities, Bear Stearns & Co. Inc., Wachovia Securities Inc., UBS, BNP Paribas,
Comerica  Securities,  Fortis  Investment  Services,  Harris  Nesbitt,  Hibernia
Southcoast Capital,  Keybank Capital Markets,  Allen & Co., Blaylock & Partners,
SunTrust Robinson Humphrey, Morgan Stanley.


<PAGE>


770 Transactions effected pursuant to Rule 10f-3

Colonial Intermediate High Income Fund

On February 16, 2005, Colonial Intermediate High Income Fund (Fund) purchased
195,000 par value of notes of Sanmina-Sci Corp. 6 3/4 3/13 (Securities) for a
total purchase price of $195,000 from Citigroup Global Markets/Salomon Brothers
pursuant to a public offering in which Banc of America Securities acted as a
participating underwriter. Banc of America Securities 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. (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 Banc of America Securities, the following is a list of members of the
underwriting  syndicate for the  aforementioned  Securities:  Citigroup,  Credit
Suisse First Boston Corp.,  Deutsche Bank Securities Inc.,  Lehman Brothers,  SG
Corporate & Investment Banking,  Calyon Securities USA Inc., Commerzbank AG, Key
Capital Markets Inc., RBS Greenwich  Capital,  Wells Fargo  Securities,  Merrill
Lynch & Co., ABN Amro,  Piper  Jaffray & Co.,  Scotia  Capital  Inc.,  JP Morgan
Securities, Bear Stearns & Co. Inc., Wachovia Securities Inc., UBS, BNP Paribas,
Comerica  Securities,  Fortis  Investment  Services,  Harris  Nesbitt,  Hibernia
Southcoast Capital,  Keybank Capital Markets,  Allen & Co., Blaylock & Partners,
SunTrust Robinson Humphrey, Morgan Stanley.


<PAGE>


770 Transactions effected pursuant to Rule 10f-3

Colonial Intermediate High Income Fund

On March 2, 2005, Colonial Intermediate High Income Fund (Fund) purchased 25,000
par value of notes of Range Resources Corp. 6 3/8 (Securities) for a total
purchase price of $25,000 from Chase Securities pursuant to a public offering in
which Banc of America Securities acted as a participating underwriter. Banc of
America Securities 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. (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 Banc of America Securities, the following is a list of members of the
underwriting  syndicate for the  aforementioned  Securities:  Citigroup,  Credit
Suisse First Boston Corp.,  Deutsche Bank Securities Inc.,  Lehman Brothers,  SG
Corporate & Investment Banking,  Calyon Securities USA Inc., Commerzbank AG, Key
Capital Markets Inc., RBS Greenwich  Capital,  Wells Fargo  Securities,  Merrill
Lynch & Co., ABN Amro,  Piper  Jaffray & Co.,  Scotia  Capital  Inc.,  JP Morgan
Securities, Bear Stearns & Co. Inc., Wachovia Securities Inc., UBS, BNP Paribas,
Comerica  Securities,  Fortis  Investment  Services,  Harris  Nesbitt,  Hibernia
Southcoast Capital,  Keybank Capital Markets,  Allen & Co., Blaylock & Partners,
SunTrust Robinson Humphrey, Morgan Stanley.


<PAGE>


770 Transactions effected pursuant to Rule 10f-3

Colonial Intermediate High Income Fund

On March 3, 2005, Colonial Intermediate High Income Fund (Fund) purchased
150,000 par value of notes of Allied Waste 3 1/4 (Securities) for a total
purchase price of $150,000 from Chase Securities pursuant to a public offering
in which Banc of America Securities acted as a participating underwriter. Banc
of America Securities 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. (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 Banc of America Securities, the following is a list of members of the
underwriting  syndicate for the  aforementioned  Securities:  Citigroup,  Credit
Suisse First Boston Corp.,  Deutsche Bank Securities Inc.,  Lehman Brothers,  SG
Corporate & Investment Banking,  Calyon Securities USA Inc., Commerzbank AG, Key
Capital Markets Inc., RBS Greenwich  Capital,  Wells Fargo  Securities,  Merrill
Lynch & Co., ABN Amro,  Piper  Jaffray & Co.,  Scotia  Capital  Inc.,  JP Morgan
Securities, Bear Stearns & Co. Inc., Wachovia Securities Inc., UBS, BNP Paribas,
Comerica  Securities,  Fortis  Investment  Services,  Harris  Nesbitt,  Hibernia
Southcoast Capital,  Keybank Capital Markets,  Allen & Co., Blaylock & Partners,
SunTrust Robinson Humphrey, Morgan Stanley.


<PAGE>


770 Transactions effected pursuant to Rule 10f-3

Colonial Intermediate High Income Fund

On March 8, 2005, Colonial Intermediate High Income Fund (Fund) purchased
280,000 par value of notes of Corrections Corp. of America 6 1/4 (Securities)
for a total purchase price of $280,000 from Lehman Brothers pursuant to a public
offering in which Banc of America Securities acted as a participating
underwriter. Banc of America Securities 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. (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 Banc of America Securities, the following is a list of members of the
underwriting  syndicate for the  aforementioned  Securities:  Citigroup,  Credit
Suisse First Boston Corp.,  Deutsche Bank Securities Inc.,  Lehman Brothers,  SG
Corporate & Investment Banking,  Calyon Securities USA Inc., Commerzbank AG, Key
Capital Markets Inc., RBS Greenwich  Capital,  Wells Fargo  Securities,  Merrill
Lynch & Co., ABN Amro,  Piper  Jaffray & Co.,  Scotia  Capital  Inc.,  JP Morgan
Securities, Bear Stearns & Co. Inc., Wachovia Securities Inc., UBS, BNP Paribas,
Comerica  Securities,  Fortis  Investment  Services,  Harris  Nesbitt,  Hibernia
Southcoast Capital,  Keybank Capital Markets,  Allen & Co., Blaylock & Partners,
SunTrust Robinson Humphrey, Morgan Stanley.


<PAGE>


770 Transactions effected pursuant to Rule 10f-3

Colonial Intermediate High Income Fund

On March 15, 2005, Colonial Intermediate High Income Fund (Fund) purchased
50,000 par value of notes of Davita Inc. 6 5/8 (Securities) for a total purchase
price of $50,000 from Chase Securities pursuant to a public offering in which
Banc of America Securities acted as a participating underwriter. Banc of America
Securities 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. (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 Banc of America Securities, the following is a list of members of the
underwriting  syndicate for the  aforementioned  Securities:  Citigroup,  Credit
Suisse First Boston Corp.,  Deutsche Bank Securities Inc.,  Lehman Brothers,  SG
Corporate & Investment Banking,  Calyon Securities USA Inc., Commerzbank AG, Key
Capital Markets Inc., RBS Greenwich  Capital,  Wells Fargo  Securities,  Merrill
Lynch & Co., ABN Amro,  Piper  Jaffray & Co.,  Scotia  Capital  Inc.,  JP Morgan
Securities, Bear Stearns & Co. Inc., Wachovia Securities Inc., UBS, BNP Paribas,
Comerica  Securities,  Fortis  Investment  Services,  Harris  Nesbitt,  Hibernia
Southcoast Capital,  Keybank Capital Markets,  Allen & Co., Blaylock & Partners,
SunTrust Robinson Humphrey, Morgan Stanley.


<PAGE>


770 Transactions effected pursuant to Rule 10f-3

Colonial Intermediate High Income Fund

On March 15, 2005, Colonial Intermediate High Income Fund (Fund) purchased
75,000 par value of notes of Davita Inc. 7 1/4 (Securities) for a total purchase
price of $75,000 from Chase Securities pursuant to a public offering in which
Banc of America Securities acted as a participating underwriter. Banc of America
Securities 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. (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 Banc of America Securities, the following is a list of members of the
underwriting  syndicate for the  aforementioned  Securities:  Citigroup,  Credit
Suisse First Boston Corp.,  Deutsche Bank Securities Inc.,  Lehman Brothers,  SG
Corporate & Investment Banking,  Calyon Securities USA Inc., Commerzbank AG, Key
Capital Markets Inc., RBS Greenwich  Capital,  Wells Fargo  Securities,  Merrill
Lynch & Co., ABN Amro,  Piper  Jaffray & Co.,  Scotia  Capital  Inc.,  JP Morgan
Securities, Bear Stearns & Co. Inc., Wachovia Securities Inc., UBS, BNP Paribas,
Comerica  Securities,  Fortis  Investment  Services,  Harris  Nesbitt,  Hibernia
Southcoast Capital,  Keybank Capital Markets,  Allen & Co., Blaylock & Partners,
SunTrust Robinson Humphrey, Morgan Stanley.



<PAGE>


770 Transactions effected pursuant to Rule 10f-3

Colonial Intermediate High Income Fund

On March 22, 2005, Colonial Intermediate High Income Fund (Fund) purchased
260,000 par value of notes of Abitibi - Consolidated 8 3/8 (Securities) for a
total purchase price of $260,000 from Citigroup Global Markets/Salomon Brothers
pursuant to a public offering in which Banc of America Securities acted as a
participating underwriter. Banc of America Securities 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. (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 Banc of America Securities, the following is a list of members of the
underwriting  syndicate for the  aforementioned  Securities:  Citigroup,  Credit
Suisse First Boston Corp.,  Deutsche Bank Securities Inc.,  Lehman Brothers,  SG
Corporate & Investment Banking,  Calyon Securities USA Inc., Commerzbank AG, Key
Capital Markets Inc., RBS Greenwich  Capital,  Wells Fargo  Securities,  Merrill
Lynch & Co., ABN Amro,  Piper  Jaffray & Co.,  Scotia  Capital  Inc.,  JP Morgan
Securities, Bear Stearns & Co. Inc., Wachovia Securities Inc., UBS, BNP Paribas,
Comerica  Securities,  Fortis  Investment  Services,  Harris  Nesbitt,  Hibernia
Southcoast Capital,  Keybank Capital Markets,  Allen & Co., Blaylock & Partners,
SunTrust Robinson Humphrey, Morgan Stanley.

</TEXT>
</DOCUMENT>
