77O Transactions effected pursuant to Rule 10f-3

On February 25, 2003, Colonial Intermediate High Income Fund, (Fund) purchased
$295,000 par value of common stock notes of JC Penney Inc. 8.00% 03/01/10
(Securities) for a total purchase price of $293,997 from Salomon Smith Barney,
Inc. 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: Credit Suisse First
Boston; JP Morgan; Wachovia Securities; HSBC.

77O Transactions effected pursuant to Rule 10f-3

On February 25, 2003, Colonial Intermediate High Income Fund, (Fund) purchased
$295,000 par value of common stock notes of JC Penney Inc. 8.00% 03/01/10
(Securities) for a total purchase price of $293,997 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, 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: Credit Suisse First
Boston; JP Morgan; Wachovia Securities; HSBC.

On March 7, 2003, Colonial Intermediate High Income Fund (Fund) purchased
$65,000 par value of common stock notes of Hexcel Corp. 9.875% 10/01/08
(Securities) for a total purchase price of $64,318 from Goldman, Sachs & Co.
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: Goldman, Sachs & Co.

On March 17, 2003, Colonial Intermediate High Income Fund (Fund) purchased
$65,000 par value of common stock notes of Dole Foods 8.825% 03/15/11
(Securities) for a total purchase price of $65,000 from Deutsche Bank 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; Bank of America Securities LLC; Scotia Capital; SG Cowen;
BMO Nesbitt Burns.