Colonial Intermediate High Income Fund

On January 14, 2002, Colonial Intermediate High Income Fund (Fund) purchased
330,000 par value of common stock notes of Xerox Corporation (Securities) for a
total purchase price of $314,061 from Deutsche Bank New York 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:  Deutsche Bank Alex
Brown; JP Morgan;  Merrill Lynch & Co.;  Salomon Smith Barney;ABN Amro Financial
Services,  Inc.;  Banc One Capital  Markets,  Inc.;  RBC Dain Rauscher Inc.; UBS
Warburg; PNC Bank


On January 17, 2002, Colonial Intermediate High Income Fund (Fund) purchased
270,000 par value of common stock notes of Constellation Brands, Inc.
(Securities) for a total purchase price of $270,000 from Chase Manhattan Bank,
NA 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: Deutsche Bank Alex
Brown; JP Morgan; Salomon Smith Barney; Barclays Capital; UBS Warburg; Scotia
Capital.


On February 12, 2002, Colonial Intermediate High Income Fund (Fund) purchased
500,000 par value of common stock notes of Mohegan Tribal Gaming Authority
(Securities) for a total purchase price of $500,000 from Bank America 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:  Banc of America
Securities; LLC; Salomon Smith Barney; SG Cowen; Commerzbank Securities;  Credit
Lyonnais  Securities;  McDonald Investments Inc.; Wells Fargo Brokerage Services
LLC.


On June 25, 2002, Colonial Intermediate High Income Fund (Fund) purchased
450,000 par value of common stock notes of L-3 Communications Corporation
(Securities) for a total purchase price of $450,000 from Lehman Brothers
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: Lehman Brothers;
Bank of America Securities; Credit Suisse First Boston; Wachovia; SC Cowen; BNY
Capital Markets; Barclays Capital; Credit Lyonnais Securities; Scotia Capital.


On November 12, 2002,  Colonial  Intermedate  High Income Fund (Fund)  purchased
125,000 par value of common stock notes of AmericsourceBergen Corp. (Securities)
for a total  purchase  price of $126,175  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; Banc of America; JP Morgan; Fleet Securities, Inc.; Wachovia Securities;
Scotia Capital; Mizuho Bank.


On November 12, 2002,  Colonial  Intermedate  High Income Fund (Fund)  purchased
90,000 par value of common stock notes of AmericsourceBergen  Corp. (Securities)
for a total  purchase  price of $90,846 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; Banc of America; JP Morgan; Fleet Securities, Inc.; Wachovia Securities;
Scotia Capital; Mizuho Bank.