77O Transactions effected pursuant to Rule 10f-3

On April 11, 2002, Colonial Intermediate High Income Fund (Fund) purchased
625,000 shares of common stock notes of Starwood Hotel Resorts (Securities) for
a total purchase price of $621,769 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. (Advisor),
         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;
Deutsche Bank Securities;  JP Morgan; SG Cowen; Bank of America  Securities LLC;
Credit Lyonnais Securities; BMO Nesbitt Burns; Bear, Stearns & Co., Inc.; Scotia
Capital