77B Report of Independent Registered Public Accounting Firm


To the Board of Trustees and Shareholder of Columbia Acorn
Trust:

In planning and performing our audit of the financial
statements of Columbia Acorn Fund, Columbia Acorn International,
Columbia Acorn USA, Columbia Acorn International Select, Columbia
Acorn Select and Columbia Thermostat Fund (the "Funds") as of and
for the year ended December 31, 2007, in accordance with the
standards of the Public Company Accounting Oversight Board (United
States), we considered the Company's internal control over financial
reporting, including controls over safeguarding securities, as a
basis for designing our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with
the requirements of Form N-SAR, but not for the purpose of expressing
an opinion on the effectiveness of the Company's internal control over
financial reporting.  Accordingly, we do not express an opinion on the
effectiveness of the Company's internal control over financial
reporting.

The management of the Company is responsible for establishing and
maintaining effective internal control over financial reporting.  In
fulfilling this responsibility, estimates and judgments by management
are required to assess the expected benefits and related costs of
controls.  A company's internal control over financial reporting is a
process designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted
accounting principles.  A company's internal control over financial
reporting includes those policies and procedures that (1) pertain to
the maintenance of records that, in reasonable detail, accurately and
fairly reflect the transactions and dispositions of the assets of the
company; (2) provide reasonable assurance that transactions are
recorded as necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles, and that
receipts and expenditures of the company are being made only in
accordance with authorizations of management and trustees of the
company; and (3)  provide reasonable assurance regarding prevention
or timely detection of unauthorized acquisition, use or disposition
of a company's assets that could have a material effect on the
financial statements.

Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements.  Also, projections
of any evaluation of effectiveness to future periods are subject to the
risk that controls may become inadequate because of changes in
conditions, or that the degree of compliance with the policies or
procedures may deteriorate.

A deficiency in internal control over financial reporting exists when
the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions,
to prevent or detect misstatements on a timely basis.  A material
weakness is a deficiency, or a combination of deficiencies, in internal
control over financial reporting, such that there is a reasonable
possibility that a material misstatement of the Company's annual or
interim financial statements will not be prevented or detected on a
timely basis.

Our consideration of the Company's internal control over financial
reporting was for the limited purpose described in the first paragraph
and would not necessarily disclose all deficiencies in internal control
over financial reporting that might be material weaknesses under standards
established by the Public Company Accounting Oversight Board (United
States).  However, we noted no deficiencies in the Company's internal
control over financial reporting and its operation, including controls
over safeguarding securities, that we consider to be material weaknesses
as defined above as of December 31, 2007.

This report is intended solely for the information and use of management
and the Board of Trustees of the Funds and the Securities and Exchange
Commission and is not intended to be and should not be used by anyone \
other than these specified parties.

PricewaterhouseCoopers LLP


February 18, 2008



Exhibit 77E Legal Proceedings Note

I	Vogeler v. Columbia Acorn Trust, et al., No. 03 L 1550,
Circuit Court, Third Judicial Circuit, Madison County, Ill.

      On November 13, 2003, the above-captioned lawsuit was
filed against Columbia Acorn Trust ("CAT") and Columbia Wanger
Asset Management, L.P. ("CWAM"), in the Circuit Court of the
Third Judicial Circuit, Madison County, Illinois ("Madison
County"), seeking certification of a plaintiff class consisting
of all persons in the United States who held shares in Columbia
Acorn International ("Acorn International") for a period of more
than 14 days during the five years prior to and through the
filing of the lawsuit.

      The Vogeler complaint is pleaded in two counts and alleges,
in summary, that CWAM and CAT exposed long-term shareholders of
Acorn International to trading by market timers by allegedly:
(a) failing to properly evaluate daily whether a significant
event affecting the value of Acorn International's portfolio
securities had occurred after foreign markets had closed but
before the calculation of Acorn International's net asset value
("NAV"); (b) failing to implement Acorn International's portfolio
valuation and share pricing policies and procedures; (c) allowing
portfolio valuation and share pricing policies and procedures that
benefited market timers at the expense of long-term shareholders;
and (d) failing to know and implement applicable rules and
regulations concerning the calculation of NAV.  Count I of the
Complaint alleges that the defendants breached duties of care owed
to Acorn International shareholders, and Count II alleges that the
asserted breaches were willful and wanton.  Both counts of the
Complaint seek unspecified compensatory and punitive damages,
prejudgment interest, costs and attorneys' fees.

      On December 12, 2003, the defendants removed the Vogeler
case to the United States District Court for the Southern District
of Illinois, Case No. 03-cv-843.  On February 12, 2004, the federal
district court remanded the case back to the Illinois state court
in Madison County.  The defendants filed a timely appeal of the
remand order.

      On April 5, 2005 the United States Court of Appeals for
the Seventh Circuit (the "Seventh Circuit") issued an Opinion in
several "fair value pricing" cases, including Vogeler.  The Seventh
Circuit reversed the federal district courts' remand of those cases
to state court, holding that the plaintiffs' state law claims were
preempted by federal law under the Securities Litigation Uniform
Standards Act of 1998 ("SLUSA").  The Seventh Circuit remanded the
cases, including Vogeler, to the district courts with instructions
to "undo" the remand orders and dismiss the plaintiffs' complaints
with prejudice.  Plaintiffs subsequently filed a motion with the
district court to amend the Vogeler complaint to "plead around" the
Seventh Circuit's federal preemption ruling.  However, consistent
with the mandate, the federal district court denied plaintiffs'
motion to amend and dismissed the Vogeler complaint with prejudice.

      Plaintiffs then filed a writ of certiorari with the United
States Supreme Court seeking to appeal the Seventh Circuit's decision.
The writ challenged whether the district court's remand of the case
to state court was reviewable by the Seventh Circuit on appeal (the
"jurisdictional issue") and whether plaintiffs' claims were federally
preempted under SLUSA because they alleged misconduct "in connection
with the purchase or sale of securities" (the "substantive issue").
The Seventh Circuit's decision of SLUSA preclusion created a conflict
with the Second Circuit's decision in Merrill Lynch, Pierce, Fenner &
Smith, Inc. v. Dabit ("Dabit").

      On January 6, 2006, the Supreme Court granted review of the
appellate jurisdiction issue and, given the pendency of the Dabit
appeal, held the appeal of the substantive SLUSA preclusion issue.
On June 15, 2006, the Supreme Court held that the Seventh Circuit did
not have appellate jurisdiction to review the district court's remand
order, and remanded the case to the Seventh Circuit which, in turn,
dismissed the appeals and remanded the case to state court.

      The parties have entered into an agreement in principle to settle
all claims against the Columbia Defendants, including CAT and CWAM,
which must be approved by the Court.  The terms and provisions of the
proposed agreement are confidential.  In light of the agreement in
principle, the state court has stayed all proceedings in the Vogeler
case.

II	Cohen v. FleetBoston Financial Corporation, et al.,
No. 04-cv-11704, U.S. Dist. Ct. Mass.; Osburn v. FleetBoston Financial
Corporation, et al., No. 04-cv-11750, U.S. Dist. Ct. Mass.; Simmonds,
et al. v. FleetBoston Financial Corporation, et al., No. 04-cv-11953,
U.S. Dist. Ct. Mass.; Slicker v. FleetBoston Financial Corporation,
et al., No. 04-cv-11760, U.S. Dist. Ct. Mass.

      Four lawsuits filed in the United States District Court for the
District of Massachusetts are hybrid class and derivative actions naming,
among others, the various series of CAT (the "Funds") as "nominal
defendants," and the CAT Trustees as defendants.  Those cases were later
consolidated in the Massachusetts federal district court under the
caption In re: Columbia Entities Litigation, Case No. 04-cv-11704,
and a consolidated amended complaint was filed.  The consolidated
amended complaint alleges that the various investment advisers within
Columbia Management Group utilized Fund assets to pay broker-dealers
to recommend and sell the Funds in preference to other mutual funds,
thereby increasing the assets under management and resultant fees to
CWAM and affiliated advisors.

      The class claims assert violations of Sections 34(a), 36(a),
36(b) and 48(a) of the Investment Company Act of 1940 ("ICA"), and
for common law breach of fiduciary duty and unjust enrichment.  The
derivative claim alleges a violation of Sections 206 and 215 of the
Investment Advisers Act of 1940 ("IAA").  Plaintiffs seek recovery
of compensatory and punitive damages, rescission of CWAM's contract
with the Funds and recovery of all fees paid to CWAM by the Funds,
as well as attorneys' fees and costs.

      Defendants filed a motion to dismiss the consolidated amended
compliant.  On November 30, 2005, the federal district court granted
the motion and dismissed all the claims against all parties.
Plaintiffs timely filed a notice of appeal to the United States Court
of Appeals for the First Circuit on December 29, 2005.  A stipulation
and settlement agreement dated January 19, 2007 was filed in the First
Circuit on February 14, 2007, with a joint stipulation of dismissal
and motion for remand to obtain district court approval of the
settlement.  That joint motion was granted and the appeal was
dismissed.  On March 6, 2007, the case was remanded to the federal
district court.  The settlement, approved by the federal district
court on September 18, 2007, became effective October 19, 2007.
Pursuant to the settlement, CWAM and/or its affiliates made certain
payments, including plaintiffs' attorneys' fees and costs of notice
to class members.

III	In re: Mutual Funds Investment Litigation, No. 04-MDL-1586;
U.S. Dist. Ct. Md.

      Commencing in late 2003, several class action and derivative
lawsuits were filed in federal district courts naming, among others,
CAT and the Trustees of CAT, challenging the existence of consensual
market timing arrangements, frequent trading and late trading.  In
September 2003, motions were filed by various mutual fund defendants
seeking to centralize or consolidate all actions filed in federal
district courts involving market timing-related allegations into one
multidistrict ("MDL") proceeding.  On February 20, 2004, an Order
was entered transferring all federal district court cases involving
market timing-related allegations to the United States District Court
for the District of Maryland.

      On September 29, 2004, plaintiffs in the class action track
filed a consolidated amended class action complaint in the
Multi-District Litigation styled Dukes, et al. v. Columbia Acorn
Funds, et al., Case No. 04-cv-01763, which names as defendants CAT,
and Ralph Wanger and Charles McQuaid as interested Trustees of CAT.
The independent CAT Trustees are not named as defendants (although
certain independent trustees of the Columbia Funds trusts are named).
Also on September 29, 2004, plaintiffs in the derivative actions
brought on behalf of shareholders in numerous fund complexes filed a
consolidated amended derivative action complaint styled Slaybe,
et al. v. Columbia Management Advisers, Inc., et al., Case
No. 04-cv-1768, which names CAT and Columbia Acorn Fund as
"nominal defendants" and the ten CAT Trustees as defendants.
Judge J. Frederick Motz is assigned to the Columbia track.  Defendants
filed motions to dismiss the consolidated amended class action and
derivative action complaints.  Ultimately, Judge Motz issued Orders
dismissing all claims against the Funds and the independent trustees.

      As indicated in Section I above, the parties reached an
agreement in principle to settle all claims against the Columbia
Defendants, including the Funds and the CAT Trustees, which was
memorialized in a term sheet.  The terms and provisions of the
proposed agreement are confidential.  In light of the agreement
in principle, Judge Motz has stayed these proceedings against the
Columbia Defendants.

      On September 14, 2007, the plaintiffs and the defendants named
in these proceedings entered into a formal stipulation of settlement
with respect to all claims against the Columbia Defendants.  The
settlement is subject to approval by the Court.

IV	Delaventura v. Columbia Acorn Trust, et al., Superior Court,
Commonwealth of Mass., Case No. 05-1093

      On March 21, 2005, a one-count breach of contract class action
complaint was filed against several of the Columbia Registrants,
including CAT, seeking to rescind the Contingent Deferred Sales
Charges assessed upon redemption of Class B shares of Columbia
mutual funds due to the alleged market timing "misconduct" of
defendants.  The Trustees are not named as defendants.  In addition
to the rescission of sales charges, plaintiffs seek recovery of actual
damages, attorneys' fees and costs.

      On April 20, 2005, the defendants removed the case to the
United States District Court for the District of Massachusetts.
CAT was voluntarily dismissed from the complaint by plaintiffs.

      As discussed in preceding sections, the parties entered into
an agreement in principle to settle all claims against the Columbia
defendants, including the Deleventue case, subject to approval by the
Court.  The terms and provisions of the proposed agreement are
confidential and the litigation has been stayed.



Exhibit Q1

AMENDED AND RESTATED INVESTMENT ADVISORY AGREEMENT

       Columbia Acorn Trust, a Massachusetts business trust registered
 under the Investment Company Act of 1940 (the "1940 Act") as an
open-end diversified management investment company ("Columbia Acorn"),
and Columbia Wanger Asset Management, L.P., a Delaware limited
partnership registered under the Investment Advisers Act of 1940 as
an investment adviser ("Columbia WAM"), agree that:

       1.	Engagement of Columbia WAM.  The Board of Trustees
of Columbia Acorn, including a majority of independent trustees, on
behalf of Columbia Acorn, appoints Columbia WAM to furnish investment
advisory and other services to Columbia Acorn for its series designated
Columbia Acorn Fund, Columbia Acorn International, Columbia Acorn USA,
Columbia Acorn Select, Columbia Acorn International Select and Columbia
Thermostat Fund (each, a "Fund," and collectively, the "Funds"), and
Columbia WAM accepts that appointment, for the period and on the terms
set forth in this agreement.

       If Columbia Acorn establishes one or more series in addition to
the Funds named above with respect to which it desires to retain
Columbia WAM as investment adviser hereunder, and if Columbia WAM is
willing to provide such services under this agreement, Columbia Acorn
and Columbia WAM may add such new series to this agreement, by written
supplement to this agreement.  Such supplement shall include a schedule
of compensation to be paid to Columbia WAM by Columbia Acorn with
respect to such series and such other modifications of the terms
of this agreement with respect to such series as Columbia Acorn and
Columbia WAM may agree.  Upon execution of such a supplement by
Columbia Acorn and Columbia WAM, that series will become a Fund
hereunder and shall be subject to the provisions of this agreement to
the same extent as the Funds named above, except as modified by
the supplement.

       2.	Services of Columbia WAM.
(a)	(i)  Investment Management.  Subject to the overall supervision
and control of Columbia Acorn's board of trustees (the "Board"),
Columbia WAM shall have supervisory responsibility for the general
management and investment of the Funds' assets and will endeavor to
preserve the autonomy of Columbia Acorn.  Columbia WAM will remain a
wholly-owned subsidiary of Columbia Management Group, Inc. ("CMG") (or
its successor) as a Chicago-based management firm.  Columbia WAM shall
comply with the 1940 Act and with all applicable rules and regulations
of the Securities and Exchange Commission, the provisions of the
Internal Revenue Code applicable to the Funds as regulated investment
companies, the investment policies and restrictions, portfolio
transaction policies and the other statements concerning the Funds in
Columbia Acorn's agreement and declaration of trust, bylaws, and
registration statements under the 1940 Act and the Securities Act of
1933 (the "1933 Act"), and policy decisions and procedures adopted
by the Board from time to time.

	(ii)  Investment Operations.  Columbia WAM will maintain the
investment philosophy and research that the Chicago-based management
deems appropriate; its research activities will be separate and
dedicated solely to Columbia WAM and it will maintain its own domestic
and international trading activities.  Columbia WAM will use its best
efforts to maintain information systems that will provide timely and
uninterrupted operating information and data consistent with all
regulatory and compliance requirements.  The Chicago-based management
will have the responsibility and considerable latitude to recruit and
compensate (on a competitive basis) investment management personnel
and to control travel budgets for analysts consistent with its
operational and strategic plans while subject to the approval of the
management of CMG.

       (iii)  Brokerage.  Columbia WAM is authorized to make the
decisions to buy and sell securities and other assets for the Funds, to
place the Funds' portfolio transactions with broker-dealers, and to
negotiate the terms of such transactions including brokerage commissions
on brokerage transactions, on behalf of the Funds.  Columbia WAM is
authorized to exercise discretion within the Funds' policy concerning
allocation of its portfolio brokerage, as permitted by law, including
but not limited to Section 28(e) of the Securities Exchange Act of 1934,
and in so doing shall not be required to make any reduction in its
investment advisory fees.  Columbia Acorn hereby authorizes any entity
or person associated with Columbia WAM that is a member of a national
securities exchange to effect any transaction on the exchange for the
account of a Fund to the extent permitted by and in accordance with
Section 11(a) of the Securities Exchange Act of 1934 and Rule 11a2-2(T)
thereunder.  Columbia Acorn hereby consents to the retention by such
entity or person of compensation for such transactions in accordance
with Rule 11a-2(T)(a)(iv).

       Columbia WAM may, where it deems it to be advisable, aggregate
orders with other securities of the same type to be sold or purchased
by one or more Funds with like orders on behalf of other clients of
Columbia WAM (as well as clients of other investment advisers affiliated
with Columbia WAM, in the event that Columbia WAM and such affiliated
investment advisers share common trading facilities).  In such event,
Columbia WAM (or Columbia WAM and its affiliated advisers, as the case
may be) will allocate the shares so sold or purchased, as well as the
expenses incurred in the transaction, in a manner it (or it and they)
consider to be equitable and fair and consistent with its (or its or
their) fiduciary obligations to clients.

	(iv)  Compliance.  Columbia WAM acknowledges the importance
that the Board and its compliance committee place on full legal and
regulatory compliance by CMG, Columbia WAM, and all other Columbia
Acorn service providers and their personnel (collectively, "Providers")
and agrees to (i) fully cooperate with the Board, the compliance
committee and the Chief Compliance Officer of Columbia Acorn with all
inquiries by Columbia Acorn concerning such compliance by the Providers
and (ii) proactively communicate with the Board, the compliance
committee and the Chief Compliance Officer of Columbia Acorn concerning
material compliance matters and any instance of legal or regulatory
non-compliance by the Providers of which Columbia WAM is aware and that
Columbia WAM deems to be material.  Such cooperation and communication
by Columbia WAM will be done after receipt of an inquiry or upon
learning of any such legal or regulatory non-compliance.

       (b)	Reports and Information.  Columbia WAM shall furnish
to the Board periodic reports on the investment strategy and performance
of the Funds and such additional reports and information as the Board or
the officers of Columbia Acorn may reasonably request.  Columbia Acorn
shall furnish or otherwise make available to Columbia WAM such copies of
financial statements, proxy statements, reports, and other information
relating to the business and affairs of each Fund as Columbia WAM may,
at any time or from time to time, reasonably require in order to discharge
its obligations under this agreement.

       (c)	Customers of Financial Institutions.  It is understood
that Columbia WAM may, but shall not be obligated to, make payments from
its own resources to financial institutions (which may include banks,
broker-dealers, recordkeepers, administrators and others) that provide,
either directly or through agents, administrative and other services with
respect to shareholders who are customers of such institutions, including
establishing shareholder accounts, assisting Columbia Acorn's transfer
agent with respect to recording purchase and redemption transactions,
advising shareholders about the status of their accounts, current yield
and dividends declared and such related services as the shareholders or
the Funds may request.

       (d)	Books and Records.  In compliance with the requirements
of Rule 31a-3 under the 1940 Act, Columbia WAM agrees to maintain records
relating to its services under this agreement, and further agrees that all
records that it maintains for Columbia Acorn are the property of Columbia
Acorn and to surrender promptly to Columbia Acorn any of such records
upon Columbia Acorn's request; provided that Columbia WAM may at its own
expense make and retain copies of any such records.  Columbia WAM further
agrees to preserve for the periods prescribed by Rule 31a-2 under the 1940
Act the records required to be maintained by Rule 31a-1 under the 1940 Act.

       (e)	Status of Columbia WAM.  Columbia WAM shall for all
purposes herein be deemed to be an independent contractor and not an agent
of Columbia Acorn and shall, unless otherwise expressly provided or
authorized, have no authority to act for or represent Columbia Acorn in
any way.  Columbia WAM agrees to notify the Trust promptly of any change
in the identity of Columbia WAM's general partner.

       3.	Administrative Services.  Columbia WAM shall supervise
the business and affairs of Columbia Acorn and each Fund and shall provide
such services and facilities as may be required for effective administration
of Columbia Acorn and the Funds as are not provided by employees or other
agents engaged by Columbia Acorn; provided that Columbia WAM shall not have
any obligation to provide under this agreement any such services which are
the subject of a separate agreement or arrangement between Columbia Acorn
and Columbia WAM, any affiliate of Columbia WAM, or any third party
administrator.

       4.	Use of Affiliated Companies and Subcontractors.  In
connection with the services to be provided by Columbia WAM under this
agreement, Columbia WAM may, to the extent it deems appropriate, and subject
to compliance with the requirements of applicable laws and regulations and
upon receipt of approval of the Trustees, make use of (i) its affiliated
companies and their directors, trustees, officers, and employees and (ii)
subcontractors selected by Columbia WAM, provided that Columbia WAM shall
supervise and remain fully responsible for the services of all such third
parties in accordance with and to the extent provided by this agreement.
All costs and expenses associated with services provided by any such third
parties shall be borne by Columbia WAM or such parties.

       5.	Expenses to be Paid by Columbia Acorn.  Except as otherwise
provided in this agreement or any other contract to which Columbia Acorn is
a party, Columbia Acorn shall pay all expenses incidental to its
organization, operations and business, including, without limitation:

(a)	all charges of depositories, custodians, sub-custodians and other
agencies for the safekeeping and servicing of its cash, securities and
other property and of its transfer agents and registrars and its dividend
disbursing and redemption agents, if any;
(b)	all charges of its administrator, if any;
(c)	all charges of legal counsel and of independent auditors;
(d)	all compensation of trustees other than those affiliated with
Columbia WAM or Columbia Acorn's administrator, if any, and all expenses
incurred in connection with their services to Columbia Acorn;
(e)	all expenses of preparing, printing and distributing notices,
proxy solicitation materials and reports to shareholders of the Funds;
(f)	all expenses of meetings of shareholders of the Funds;
(g)	all expenses of registering and maintaining the registration of
Columbia Acorn under the 1940 Act and of shares of the Funds under the
1933 Act, including all expenses of preparation, filing and printing of
annual or more frequent revisions of the Funds' registration statements
under the 1940 Act and 1933 Act, and of supplying each then existing
shareholder or beneficial owner of shares of the Funds of a copy of each
revised prospectus or supplement thereto, and of supplying a copy of the
statement of additional information upon request to any then existing
shareholder;
(h)	all costs of borrowing money;
(i)	all expenses of publication of notices and reports to shareholders
and to governmental bodies or regulatory agencies;
(j)	all taxes and fees payable to federal, state or other governmental
agencies, domestic or foreign, and all stamp or other taxes;
(k)	all expenses of printing and mailing certificates for shares
of a Fund;
(l)	all expenses of bond and insurance coverage required by law or
deemed advisable by the Board;
(m)	all expenses of qualifying and maintaining qualification of,
or providing appropriate notification of intention to sell relating to,
shares of the Funds under the securities laws of the various states
and other jurisdictions, and of registration and qualification of
Columbia Acorn under any other laws applicable to Columbia Acorn or
its business activities;
(n)	all fees, dues and other expenses related to membership of
Columbia Acorn in any trade association or other investment company
organization; and
(o)	any extraordinary expenses.
       In addition to the payment of expenses, Columbia Acorn shall
also pay all brokers' commissions and other charges relating to the
purchase and sale of portfolio securities for each Fund.

       6.	Allocation of Expenses Paid by Columbia Acorn.  Any
expenses paid by Columbia Acorn that are attributable solely to the
organization, operation or business of a Fund or Funds shall be paid
solely out of the assets of that Fund or Funds.  Any expense paid by
Columbia Acorn that is not solely attributable to a Fund or
Funds, nor solely to any other series of Columbia Acorn, shall be
apportioned in such manner as Columbia Acorn or Columbia Acorn's
administrator determines is fair and appropriate, or as otherwise
specified by the Board.

       7.	Expenses to be Paid by Columbia WAM.  Columbia WAM
shall furnish to Columbia Acorn, at Columbia WAM's own expense, office
space and all necessary office facilities, equipment and personnel
required to provide its services pursuant to this agreement.  Columbia
WAM shall also assume and pay all expenses of placement of securities
orders and related bookkeeping.

       8.	Compensation of Columbia WAM.  For the services to be
rendered and the expenses to be assumed and to be paid by Columbia WAM
under this agreement, Columbia Acorn on behalf of the respective Funds
shall pay to Columbia WAM fees accrued daily and paid monthly at the
annual rates (as a percentage of the Fund's net assets) shown below:

       Columbia Acorn Fund
Assets
Rate of Fee
Up to $700 million
0.740%
$700 million to $2 billion
0.690%
$2 billion to $6 billion
0.640%
$6 billion and over
0.630%

       Columbia Acorn International
Assets
Rate of Fee
Up to $100 million
1.190%
$100 million to $500 million
0.940%
$500 million and over
0.740%

       Columbia Acorn USA
Assets
Rate of Fee
Up to $200 million
0.940%
$200 million to $500 million
0.890%
$500 million to $2 billion
0.840%
$2 billion to $3 billion
0.800%
$3 billion and over
0.700%

       Columbia Acorn Select
Assets
Rate of Fee
Up to $700 million
0.850%
$700 million to $2 billion
0.800%
$2 billion to $3 billion
0.750%
$3 billion and over
0.700%

       Columbia Acorn International Select
Assets
Rate of Fee
Up to $500 million
0.940%
$500 million and over
0.900%

       Columbia Thermostat Fund
                      All Assets	0.100%
The fees attributable to each Fund shall be a 	separate charge to
such Fund and shall be the several (and not joint or joint and
several) obligation of each such Fund.

       9.	Services of Columbia WAM Not Exclusive.  The
services of Columbia WAM to Columbia Acorn under this agreement
are not exclusive, and Columbia WAM shall be free to render similar
services to others so long as its services under this agreement
are not impaired by such other activities.  The principal investment
management focus and responsibilities of Columbia WAM's portfolio
managers and analysts will be dedicated to Columbia Acorn and
Wanger Advisors Trust.

       10.	Services Other Than as Adviser.  Within the limits
permitted by law, Columbia WAM or an affiliate of Columbia WAM may
receive compensation from Columbia Acorn for other services
performed by it for Columbia Acorn which are not within the scope
of the duties of Columbia WAM under this agreement, including the
provision of brokerage services.

       11.	Standard of Care.  To the extent permitted by
applicable law, neither Columbia WAM nor any of its partners,
officers, agents, employees or affiliates shall be liable to
Columbia Acorn or its shareholders for any loss suffered by Columbia
Acorn or its shareholders as a result of any error of judgment, or
any loss arising out of any investment, or as a consequence of any
other act or omission of Columbia WAM or any of its affiliates in the
performance of Columbia WAM's duties under this agreement, except for
liability resulting from willful misfeasance, bad faith or gross
negligence on the part of Columbia WAM or such affiliate, or by
reason of reckless disregard by Columbia WAM or such affiliate of
the obligations and duties of Columbia WAM under this agreement.

       12.	Effective Date, Duration and Renewal.  This agreement
shall become effective on August 1, 2007.  Unless terminated as provided
in Section 13, this agreement shall continue in effect as to a Fund until
July 31, 2008 and thereafter from year to year only so long as such
continuance is specifically approved at least annually (a) by a majority
of those trustees who are not interested persons of Columbia Acorn or
of Columbia WAM, voting in person at a meeting called for the purpose
of voting on such approval, and (b) by either the Board or vote of the
holders of a "majority of the outstanding shares" of that Fund (which
term as used throughout this agreement shall be construed in accordance
with the definition of "vote of a majority of the outstanding voting
securities of a company" in section 2(a)(42) of the 1940 Act).

       13.	Termination.  This agreement may be terminated as to a
Fund at any time, without payment of any penalty, by the Board, or by
a vote of the holders of a majority of the outstanding shares of that
Fund, upon 60 days' written notice to Columbia WAM.  This agreement
may be terminated by Columbia WAM at any time upon 60 days' written
notice to Columbia Acorn.  This agreement shall terminate automatically
in the event of its assignment (as defined in Section 2(a)(4) of the
1940 Act).

       14.	Amendment.  This agreement may be amended in accordance
with the 1940 Act.

       15.	Non-Liability of Trustees and Shareholders.  A copy of
the declaration of trust of Columbia Acorn is on file with the Secretary
of The Commonwealth of Massachusetts, and notice is hereby given that this
instrument is executed on behalf of Columbia Acorn by its officers as
officers and not individually.  All obligations of Columbia Acorn
hereunder shall be binding only upon the assets of Columbia Acorn
(or the appropriate Fund) and shall not be binding upon any trustee,
officer, employee, agent or shareholder of Columbia Acorn.  Neither the
authorization of any action by the trustees or shareholders of Columbia
Acorn nor the execution of this agreement on behalf of Columbia Acorn
shall impose any liability upon any trustee, officer or shareholder of
Columbia Acorn.

       16.	Use of Manager's Name.  Columbia Acorn may use the
name "Columbia" or any other name derived from the name "Columbia" only
for so long as this agreement or any extension, renewal or amendment
hereof remains in effect, including any similar agreement with any
organization that shall remain affiliated with CMG and shall have
succeeded to the business of Columbia WAM as investment adviser.  At such
time as this agreement or any extension, renewal or amendment hereof, or
such other similar agreement shall no longer be in effect, Columbia
Acorn will (by amendment of its agreement and declaration of trust if
necessary) cease to use any name derived from the name "Columbia" or
otherwise connected with Columbia WAM, or with any organization that
shall have succeeded to Columbia WAM's business as investment adviser.

       17.	Notices.  Any notice, demand, change of address or other
communication to be given in connection with this agreement shall be
given in writing and shall be given by personal delivery, by registered or
certified mail or by transmittal by facsimile or other electronic medium
addressed to the recipient as follows (or at such other address or
addresses as a party may provide to the other from time to time, by
notice):

If to Columbia
WAM:
Columbia Wanger Asset Management, L.P.
Attention:  Bruce H. Lauer
227 West Monroe Street, Suite 3000
Chicago, Illinois 60606
Telephone:  312 634-9200
Facsimile:  312 634-0016
with a copy to:

If to Columbia
Acorn:
Columbia Acorn Trust
227 West Monroe Street, Suite 3000
Chicago, Illinois 60606
Telephone:  312 634-9200
Facsimile:  312 634-1919
with a copy to:
Bell, Boyd & Lloyd LLP
Attention:  Stacy H. Winick
70 West Madison Street, Suite 3100
Chicago, Illinois 60602
Telephone:  312/372-1121
Facsimile:  312/827-8000

       All notices shall be conclusively deemed to have been given on
the day of actual delivery thereof and, if given by registered or
certified mail, on the fifth business day following the deposit
thereof in the mail and, if given by facsimile or other electronic
medium, on the day of transmittal thereof (upon electronic confirmation
of receipt thereof).
       18.	Governing Law.  This agreement shall be construed and
interpreted in accordance with the laws of the State of Illinois and
the laws of the United States of America applicable to contracts
executed and to be performed therein.





Dated as of August 1, 2007


COLUMBIA ACORN TRUST


By	/s/ Charles P. McQuaid
	Charles P. McQuaid


COLUMBIA WANGER ASSET MANAGEMENT, L.P.

By	WAM Acquisition GP, Inc.
Its	General Partner


By	/s/ Bruce H. Lauer
	Bruce H. Lauer