77O Transactions effected pursuant to Rule 10f-3

Colonial Intermediate High Income Fund

On September 15, 2003, Colonial Intermediate High Income Fund (Fund) purchased
$60,000  par value of common stock notes of Buckeye Technologies Inc.8.5%
10/01/03 (Securities) for a total purchase price of $60,000 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 Quick & Reilly, Inc.,  the following is a list of members of the
underwriting  syndicate for the aforementioned Securities: UBS Financial
Services, Inc.

Colonial Intermediate High Income Fund

On September 17, 2003, Colonial Intermediate High Income Fund (Fund) purchased
$100,000  par value of common stock notes of Toys R Us 7.375% 10/15/18
(Securities) for a total purchase price of $99,550 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 Quick & Reilly, Inc.,  the following is a list of members of the
underwriting  syndicate for the aforementioned Securities: Wachovia Securities;
Banc One Capital Markets; Bank of New York; Barclays Capital; Credit Suisse
First Boston; JP Morgan Securities; McDonald Investments, Inc.; Royal Bank of
Scotland; SG Cowen Securities.