77O Transactions effected pursuant to Rule 10f-3

On March 11, 2003, Colonial Intermediate High Income Fund (Fund) purchased
165,000 par value of common stock notes of Moore North America Finance Inc.
7.875% 1/15/11 (Securities) for a total purchase price of $163,845 from
Citigroup Global Markets 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, 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 Fleet Securities, Inc.,  the following is a list of members of the
underwriting  syndicate for the aforementioned Securities: Deutsche Bank
Securities; Morgan Stanley; Salomon Smith Barney; Bank One Capital Markets;
BNP Paribas; CIBC World Markets; Credit Lyonnais Securities; Scotia Capital Inc.


On May 13, 2003, Colonial Intermediate High Income Fund (Fund) purchased
300,000 par value of common stock notes of Rite Aid 9.250% 6/1/13 (Securities)
for a total purchase price of $295,200 from Citigroup Global Markets 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, 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 Fleet Securities, Inc.,  the following is a list of members of the
underwriting  syndicate for the aforementioned Securities: Citigroup; JP Morgan
Securities.