Exhibit 99.1
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Media contact:
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Charles Keller
612-678-7786
charles.r.keller@ampf.com |
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Stockholder contact:
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Gary Terpening
212-850-1533
gary.a.terpening@ampf.com |
RIVERSOURCE LASALLE INTERNATIONAL REAL ESTATE FUND, INC.
ANNOUNCES MARCH DISTRIBUTION INFORMATION AND
INFORMATION RELATING TO ITS MERGER
BOSTON, MA, March 18, 2011 — RiverSource LaSalle International Real Estate Fund, Inc. (the
“LaSalle Closed-End Fund”) (NYSE: SLS) today declared a distribution of $0.2403 per share of Common
Stock. Dividends on Common Stock will be paid on April 5, 2011 to Common Stockholders of record on
March 28, 2011. The ex-dividend date for the Common Stock is March 24, 2011. The $0.2403 per share
dividend on the Common Stock is in accordance with the Fund’s earned distribution policy.
On February 15, 2011, stockholders of the LaSalle Closed-End Fund at a Special Meeting of
Stockholders (the “Special Meeting”) approved a proposal that the LaSalle Closed-End be acquired by
Columbia Real Estate Equity Fund (the “Open-End Fund”), an open-end fund that is a series of
Columbia Funds Series Trust I (the “Acquisition”). As consideration for their shares, holders of
the LaSalle Closed-End Fund’s common stock will receive Class Z shares of the Open-End Fund with a
value equal to the net asset value of their shares of the LaSalle Closed-End Fund common stock on
the closing date of the Acquisition, which is anticipated to occur on or about April 8, 2011 (the
“Closing Date”). Redemptions and exchanges of shares of the Open-End Fund issued pursuant to the
Acquisition are subject to a redemption fee of 2% for a period of one year following the Closing
Date of the Acquisition. Shares of the LaSalle Closed-End Fund common stock will cease to be
publicly traded at the close of NYSE trading on the Closing Date.
The Fund’s investment manager is Columbia Management Investment Advisers, LLC (formerly known as
RiverSource Investments, LLC), a wholly owned subsidiary of Ameriprise Financial, Inc. Columbia
Management Investment Distributors, Inc. (formerly known as RiverSource Fund Distributors, Inc.) is
the principal underwriter of the Columbia, Wanger, Columbia Acorn, RiverSource, Seligman and
Threadneedle branded mutual funds.
Important
Disclosures:
The net asset value of shares of a closed-end fund may not always correspond to the market price of
such shares. Common stock of many closed-end funds frequently trade at a discount from their net
asset value. The LaSalle Closed-End Fund is subject to stock market risk, which is the risk that
stock prices overall will decline over short or long periods, adversely affecting the value of an
investment in the LaSalle Closed-End Fund.
Investments in real estate securities may be subject to specific risks, such as the risks
associated with general and local economic conditions, and the risks related to individual
properties. Investing in one economic sector, such as real estate, may result in greater price
fluctuations than owning a portfolio of diversified investments.
Investments in foreign securities involve certain risks not associated with investments in U.S.
companies, including the risks of a particular foreign country, including the political, regulatory,
economic, social and other conditions of the country, as well as fluctuations in its currency and
the risks associated with less developed custody and settlement practices. For emerging markets,
these risks are even greater.
Distributions paid to stockholders are subject to recharacterization for tax purposes because the
securities (e.g., real estate investment trusts) in which the funds invest may not provide complete
tax information to the funds as to the tax character of the dividends distributed by such company
(e.g., income, capital gain or return of capital) until after the funds have made distribution to
stockholders. This recharacterization could result in a proportionate increase in returns of
capital to stockholders. In certain situations, returns of capital could be taxable for federal
income tax purposes, and all or a portion of a fund’s capital loss carryforwards from prior years
could effectively be forfeited.
You should consider the investment objectives, risks, charges, and expenses of the funds carefully
before investing. You can obtain the LaSalle Closed-End Fund’s most recent periodic reports and
other regulatory filings by contacting your financial advisor or American Stock Transfer & Trust
Company LLC at 800 937-5449. You can obtain the Open-End Fund’s current prospectus, periodic
reports and other regulatory filings by contacting your financial advisor or Columbia Management
Investment Services Corp. at 800 345-6611. These materials, including any prospectuses, reports and
other filings can also be found on the Securities and Exchange Commission’s EDGAR database. You
should read these materials, including any prospectuses, reports and other filings carefully before
investing.
There is no guarantee that a fund’s investment goals/objectives will be met or that distributions
will be made, and you could lose money.
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NOT FDIC INSURED
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MAY LOSE VALUE
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NO BANK GUARANTEE |
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NOT A DEPOSIT
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NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY |
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