Colonial Muni Income Trust (Fund)

On October 7, 2004, Colonial Muni Income Trust (Fund) purchased 120,000 par
value of bonds of New Jersey Economic Dev Auth (Securities) for a total purchase
price of $113,578.80 from Citigroup Global 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. 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:  Bear Stearns & Co.,
Inc.; Seibert Brandford Shank & Co., LLC; Corby Capital Markets, Inc.; M.R.
Beal & Company; Morgan Stanley; Raymond James & Associates, Inc.; UBS Financial
Services Inc.; Citigroup; JP Morgan; RBC Dain Rauscher Inc.; Carolan & Co.;
Goldman, Sachs & Co.; Merrill Lynch & Co.

On October 8, 2004, Colonial Muni Income Fund (Fund) purchased 500,000 par value
of bonds of New Jersey Economic Dev Auth (Securities) for a total purchase price
of $503,750.00 from Citigroup Global 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. 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:  Bear Stearns & Co.,
Inc.; Seibert Brandford Shank & Co., LLC; Corby Capital Markets, Inc.; M.R.
Beal & Company; Morgan Stanley; Raymond James & Associates, Inc.; UBS Financial
Services Inc.; Citigroup; JP Morgan; RBC Dain Rauscher Inc.; Carolan & Co.;
Goldman, Sachs & Co.; Merrill Lynch & Co.


On December 16, 2004, Colonial Muni Income Fund (Fund) purchased 400,000 par
value of bonds of Pennsylvania Economic Dev Fing (Securities) for a total
purchase price of $400,000.00 from Merrill Lynch Pierce Fenner 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. 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:  Bear Stearns & Co.,
Inc.; Seibert Brandford Shank & Co., LLC; Corby Capital Markets, Inc.; M.R.
Beal & Company; Morgan Stanley; Raymond James & Associates, Inc.; UBS Financial
Services Inc.; Citigroup; JP Morgan; RBC Dain Rauscher Inc.; Carolan & Co.;
Goldman, Sachs & Co.; Merrill Lynch & Co.