-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DWNgk3jW62hxYt1Z+3tS2NcqBomDzvFQaea+a03AlcqPozkcYsosOQeoqogG96bz oeRMIJgzy/Xv2MKIcBoDaA== 0000021832-06-000039.txt : 20060301 0000021832-06-000039.hdr.sgml : 20060301 20060301131513 ACCESSION NUMBER: 0000021832-06-000039 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20051231 FILED AS OF DATE: 20060301 DATE AS OF CHANGE: 20060301 EFFECTIVENESS DATE: 20060301 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LIBERTY VARIABLE INVESTMENT TRUST CENTRAL INDEX KEY: 0000898445 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-07556 FILM NUMBER: 06654324 BUSINESS ADDRESS: STREET 1: ONE FINANCIAL CENTER CITY: BOSTON STATE: MA ZIP: 02111 BUSINESS PHONE: 6174263750 MAIL ADDRESS: STREET 1: ONE FINANCIAL CENTER CITY: BOSTON STATE: MA ZIP: 02111 FORMER COMPANY: FORMER CONFORMED NAME: KEYPORT VARIABLE INVESTMENT TRUST DATE OF NAME CHANGE: 19980521 0000898445 S000010647 Columbia International Fund, Variable Series C000029515 Class A C000029516 Class B 0000898445 S000010648 Liberty Growth & Income Fund, Variable Series C000029517 Class A C000029518 Class B 0000898445 S000010649 Colonial Strategic Income Fund, Variable Series C000029519 Class A C000029520 Class B 0000898445 S000010650 Colonial Small Cap Value Fund, Variable Series C000029521 Class A C000029522 Class B 0000898445 S000010651 Liberty S&P 500 Index Fund, Variable Series C000029523 Class A C000029524 Class B 0000898445 S000010652 Liberty Select Value Fund, Variable Series C000029525 Class A C000029526 Class B 0000898445 S000010653 Columbia High Yield Fund, Variable Series C000029527 Class A C000029528 Class B NSAR-B 1 answer.fil PAGE 1 000 B000000 12/31/2005 000 C000000 0000898445 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 LIBERTY VARIABLE INVESTMENT TRUST 001 B000000 811-7556 001 C000000 6177226000 002 A000000 600 ATLANTIC AVENUE 002 B000000 BOSTON 002 C000000 MA 002 D010000 02110 002 D020000 2214 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 Y 007 B000000 7 007 C010400 4 007 C020400 COLUMBIA INTERNATIONAL FUND, VS 007 C030400 N 007 C010500 5 007 C020500 COLONIAL STRATEGIC INCOME FUND, VS 007 C030500 N 007 C010600 6 007 C020600 LIBERTY GROWTH AND INCOME FUND, VS 007 C030600 N 007 C010900 9 007 C020900 COLONIAL SMALL CAP VALUE FUND, VS 007 C030900 N 007 C011500 15 007 C021500 LIBERTY S&P 500 INDEX FUND, VS 007 C031500 N 007 C011700 17 007 C021700 LIBERTY SELECT VALUE FUND, VS 007 C031700 N 007 C011800 18 007 C021800 COLUMBIA HIGH YIELD FUND, VS 007 C031800 N 008 A00AA01 COLUMBIA MANAGEMENT ADVISORS, INC. 008 B00AA01 A 008 C00AA01 801-5930 008 D01AA01 BOSTON 008 D02AA01 MA 008 D03AA01 02110 010 A001801 COLUMBIA MANAGEMENT ADVISORS, INC. 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SECURITIES, INC. 025 B000401 13-6124068 025 C000401 E 025 D000401 757 025 A000402 UBS AG 025 B000402 13-3340045 025 C000402 E 025 D000402 604 025 A000403 CREDIT SUISSE GROUP 025 B000403 13-5659485 025 C000403 E 025 D000403 617 025 A000601 JPMORGAN CHASE & CO. 025 B000601 13-3112953 025 C000601 E 025 D000601 2409 025 A000602 WACHOVIA CORP. 025 C000602 E 025 D000602 4710 025 A000603 LEHMAN BROTHERS, INC. 025 B000603 13-2518466 025 C000603 E 025 D000603 1295 025 A000604 GOLDMAN SACHS GROUP, INC. 025 B000604 13-5108880 025 C000604 E 025 D000604 2126 025 A000605 MERRILL LYNCH & CO., INC. 025 B000605 13-5674085 025 C000605 E 025 D000605 4922 025 A000606 DEUTSCHE BANK AG 025 B000606 13-6124068 025 C000606 E 025 D000606 552 025 A000607 SALOMON SMITH BARNEY CITIGROUP 025 B000607 13-3082694 025 C000607 E 025 D000607 5375 025 A001501 JPMORGAN CHASE & CO. 025 B001501 13-3112953 025 C001501 E 025 D001501 643 025 A001502 WACHOVIA CORP. 025 C001502 E 025 D001502 380 025 A001503 MERRILL LYNCH & CO., INC. PAGE 15 025 B001503 13-5674085 025 C001503 E 025 D001503 287 025 A001504 GOLDMAN, SACHS & CO. 025 B001504 13-5108880 025 C001504 E 025 D001504 268 025 A001505 LEHMAN BROTHERS HOLDINGS, INC. 025 B001505 13-2518466 025 C001505 E 025 D001505 159 025 A001506 BEAR STEARNS & CO. 025 B001506 13-4946705 025 C001506 E 025 D001506 62 025 A001507 STATE STREET CORP. 025 B001507 04-1867445 025 C001507 E 025 D001507 84 025 A001508 SALOMON SMITH BARNEY CITIGROUP 025 B001508 13-3082694 025 C001508 E 025 D001508 1136 025 A001701 BEAR STEARNS & CO., INC. 025 B001701 13-4946705 025 C001701 E 025 D001701 485 026 A000000 N 026 B000000 Y 026 C000000 N 026 D000000 Y 026 E000000 N 026 F000000 Y 026 G010000 N 026 G020000 N 026 H000000 N 027 000000 Y 028 A010400 307 028 A020400 0 028 A030400 0 028 A040400 1622 028 B010400 109 028 B020400 0 028 B030400 0 028 B040400 2360 028 C010400 2 028 C020400 0 028 C030400 0 028 C040400 1972 028 D010400 44 028 D020400 0 PAGE 16 028 D030400 0 028 D040400 1751 028 E010400 243 028 E020400 0 028 E030400 0 028 E040400 1542 028 F010400 19 028 F020400 0 028 F030400 0 028 F040400 1616 028 G010400 724 028 G020400 0 028 G030400 0 028 G040400 10863 028 H000400 0 028 A010500 693 028 A020500 0 028 A030500 0 028 A040500 3063 028 B010500 3557 028 B020500 0 028 B030500 0 028 B040500 3008 028 C010500 714 028 C020500 0 028 C030500 0 028 C040500 2439 028 D010500 581 028 D020500 0 028 D030500 0 028 D040500 3274 028 E010500 301 028 E020500 0 028 E030500 0 028 E040500 6013 028 F010500 1088 028 F020500 0 028 F030500 0 028 F040500 2670 028 G010500 6934 028 G020500 0 028 G030500 0 028 G040500 20467 028 H000500 0 028 A010600 198 028 A020600 0 028 A030600 0 028 A040600 5589 028 B010600 63 028 B020600 0 028 B030600 0 PAGE 17 028 B040600 5785 028 C010600 99 028 C020600 0 028 C030600 0 028 C040600 5368 028 D010600 111 028 D020600 0 028 D030600 0 028 D040600 5393 028 E010600 158 028 E020600 0 028 E030600 0 028 E040600 4227 028 F010600 180 028 F020600 0 028 F030600 0 028 F040600 4876 028 G010600 809 028 G020600 0 028 G030600 0 028 G040600 31238 028 H000600 0 028 A010900 11810 028 A020900 0 028 A030900 0 028 A040900 1139 028 B010900 7282 028 B020900 0 028 B030900 0 028 B040900 1972 028 C010900 7913 028 C020900 761 028 C030900 0 028 C040900 1591 028 D010900 9603 028 D020900 0 028 D030900 0 028 D040900 2216 028 E010900 10614 028 E020900 0 028 E030900 0 028 E040900 1789 028 F010900 6717 028 F020900 0 028 F030900 0 028 F040900 3172 028 G010900 53939 028 G020900 761 028 G030900 0 028 G040900 11879 028 H000900 0 PAGE 18 028 A011500 74 028 A021500 0 028 A031500 0 028 A041500 689 028 B011500 205 028 B021500 0 028 B031500 0 028 B041500 991 028 C011500 42 028 C021500 0 028 C031500 0 028 C041500 574 028 D011500 133 028 D021500 0 028 D031500 0 028 D041500 696 028 E011500 47 028 E021500 0 028 E031500 0 028 E041500 474 028 F011500 164 028 F021500 0 028 F031500 0 028 F041500 701 028 G011500 665 028 G021500 0 028 G031500 0 028 G041500 4125 028 H001500 0 028 A011700 190 028 A021700 0 028 A031700 0 028 A041700 428 028 B011700 162 028 B021700 0 028 B031700 0 028 B041700 794 028 C011700 48 028 C021700 0 028 C031700 0 028 C041700 590 028 D011700 35 028 D021700 0 028 D031700 0 028 D041700 890 028 E011700 150 028 E021700 0 028 E031700 0 028 E041700 432 028 F011700 300 028 F021700 0 PAGE 19 028 F031700 0 028 F041700 436 028 G011700 885 028 G021700 0 028 G031700 0 028 G041700 3570 028 H001700 0 028 A011800 7133 028 A021800 0 028 A031800 0 028 A041800 527 028 B011800 8212 028 B021800 0 028 B031800 0 028 B041800 429 028 C011800 7878 028 C021800 0 028 C031800 0 028 C041800 1303 028 D011800 6886 028 D021800 0 028 D031800 0 028 D041800 1002 028 E011800 7077 028 E021800 0 028 E031800 0 028 E041800 508 028 F011800 5171 028 F021800 0 028 F031800 0 028 F041800 858 028 G011800 42357 028 G021800 0 028 G031800 0 028 G041800 4627 028 H001800 0 029 00AA00 N 030 A00AA00 0 030 B00AA00 0.00 030 C00AA00 0.00 031 A00AA00 0 031 B00AA00 0 032 00AA00 0 033 00AA00 0 034 00AA00 N 035 00AA00 0 036 B00AA00 0 037 000400 N 037 000500 N 037 000600 N 037 000900 N PAGE 20 037 001500 N 037 001700 N 037 001800 N 038 000400 0 038 000500 0 038 000600 0 038 000900 0 038 001500 0 038 001700 0 038 001800 0 039 000400 N 039 000500 N 039 000600 N 039 000900 N 039 001500 N 039 001700 N 039 001800 N 040 000400 Y 040 000500 Y 040 000600 Y 040 000900 Y 040 001500 Y 040 001700 Y 040 001800 Y 041 000400 Y 041 000500 Y 041 000600 Y 041 000900 Y 041 001500 Y 041 001700 Y 041 001800 Y 042 A000400 0 042 B000400 0 042 C000400 100 042 D000400 0 042 E000400 0 042 F000400 0 042 G000400 0 042 H000400 0 042 A000500 0 042 B000500 0 042 C000500 100 042 D000500 0 042 E000500 0 042 F000500 0 042 G000500 0 042 H000500 0 042 A000600 0 042 B000600 0 042 C000600 100 042 D000600 0 PAGE 21 042 E000600 0 042 F000600 0 042 G000600 0 042 H000600 0 042 A000900 0 042 B000900 0 042 C000900 100 042 D000900 0 042 E000900 0 042 F000900 0 042 G000900 0 042 H000900 0 042 A001500 0 042 B001500 0 042 C001500 100 042 D001500 0 042 E001500 0 042 F001500 0 042 G001500 0 042 H001500 0 042 A001700 0 042 B001700 0 042 C001700 100 042 D001700 0 042 E001700 0 042 F001700 0 042 G001700 0 042 H001700 0 042 A001800 0 042 B001800 0 042 C001800 100 042 D001800 0 042 E001800 0 042 F001800 0 042 G001800 0 042 H001800 0 043 000400 15 043 000500 143 043 000600 102 043 000900 672 043 001500 133 043 001700 66 043 001800 68 044 000400 0 044 000500 0 044 000600 0 044 000900 0 044 001500 0 044 001700 0 044 001800 0 045 000400 Y PAGE 22 045 000500 Y 045 000600 Y 045 000900 Y 045 001500 Y 045 001700 Y 045 001800 Y 046 000400 N 046 000500 N 046 000600 N 046 000900 N 046 001500 N 046 001700 N 046 001800 N 047 000400 Y 047 000500 Y 047 000600 Y 047 000900 Y 047 001500 Y 047 001700 Y 047 001800 Y 048 000400 0.000 048 A010400 500000 048 A020400 0.870 048 B010400 500000 048 B020400 0.820 048 C010400 500000 048 C020400 0.770 048 D010400 1500000 048 D020400 0.720 048 E010400 3000000 048 E020400 0.700 048 F010400 0 048 F020400 0.000 048 G010400 0 048 G020400 0.000 048 H010400 0 048 H020400 0.000 048 I010400 0 048 I020400 0.000 048 J010400 0 048 J020400 0.000 048 K010400 6000000 048 K020400 0.680 048 000500 0.000 048 A010500 500000 048 A020500 0.600 048 B010500 500000 048 B020500 0.550 048 C010500 500000 048 C020500 0.520 048 D010500 0 PAGE 23 048 D020500 0.000 048 E010500 0 048 E020500 0.000 048 F010500 0 048 F020500 0.000 048 G010500 0 048 G020500 0.000 048 H010500 0 048 H020500 0.000 048 I010500 0 048 I020500 0.000 048 J010500 0 048 J020500 0.000 048 K010500 1500000 048 K020500 0.490 048 000600 0.000 048 A010600 500000 048 A020600 0.770 048 B010600 500000 048 B020600 0.720 048 C010600 500000 048 C020600 0.670 048 D010600 1500000 048 D020600 0.620 048 E010600 3000000 048 E020600 0.600 048 F010600 0 048 F020600 0.000 048 G010600 0 048 G020600 0.000 048 H010600 0 048 H020600 0.000 048 I010600 0 048 I020600 0.000 048 J010600 0 048 J020600 0.000 048 K010600 6000000 048 K020600 0.580 048 000900 0.000 048 A010900 500000 048 A020900 0.800 048 B010900 500000 048 B020900 0.750 048 C010900 0 048 C020900 0.000 048 D010900 0 048 D020900 0.000 048 E010900 0 048 E020900 0.000 048 F010900 0 048 F020900 0.000 PAGE 24 048 G010900 0 048 G020900 0.000 048 H010900 0 048 H020900 0.000 048 I010900 0 048 I020900 0.000 048 J010900 0 048 J020900 0.000 048 K010900 1000000 048 K020900 0.700 048 001500 0.200 048 A011500 0 048 A021500 0.000 048 B011500 0 048 B021500 0.000 048 C011500 0 048 C021500 0.000 048 D011500 0 048 D021500 0.000 048 E011500 0 048 E021500 0.000 048 F011500 0 048 F021500 0.000 048 G011500 0 048 G021500 0.000 048 H011500 0 048 H021500 0.000 048 I011500 0 048 I021500 0.000 048 J011500 0 048 J021500 0.000 048 K011500 0 048 K021500 0.000 048 001700 0.000 048 A011700 500000 048 A021700 0.700 048 B011700 500000 048 B021700 0.650 048 C011700 0 048 C021700 0.000 048 D011700 0 048 D021700 0.000 048 E011700 0 048 E021700 0.000 048 F011700 0 048 F021700 0.000 048 G011700 0 048 G021700 0.000 048 H011700 0 048 H021700 0.000 048 I011700 0 PAGE 25 048 I021700 0.000 048 J011700 0 048 J021700 0.000 048 K011700 1000000 048 K021700 0.600 048 001800 0.000 048 A011800 1000000 048 A021800 0.600 048 B011800 500000 048 B021800 0.550 048 C011800 0 048 C021800 0.000 048 D011800 0 048 D021800 0.000 048 E011800 0 048 E021800 0.000 048 F011800 0 048 F021800 0.000 048 G011800 0 048 G021800 0.000 048 H011800 0 048 H021800 0.000 048 I011800 0 048 I021800 0.000 048 J011800 0 048 J021800 0.000 048 K011800 1500000 048 K021800 0.500 049 000400 N 049 000500 N 049 000600 N 049 000900 N 049 001500 N 049 001700 N 049 001800 N 050 000400 N 050 000500 N 050 000600 N 050 000900 N 050 001500 N 050 001700 N 050 001800 N 051 000400 N 051 000500 N 051 000600 N 051 000900 N 051 001500 N 051 001700 N 051 001800 N 052 000400 N 052 000500 N PAGE 26 052 000600 N 052 000900 N 052 001500 N 052 001700 N 052 001800 N 053 A000400 Y 053 B000400 Y 053 C000400 N 053 A000500 Y 053 B000500 Y 053 C000500 N 053 A000600 Y 053 B000600 Y 053 C000600 N 053 A000900 Y 053 B000900 Y 053 C000900 N 053 A001500 Y 053 B001500 Y 053 C001500 N 053 A001700 Y 053 B001700 Y 053 C001700 N 053 A001800 Y 053 B001800 Y 053 C001800 N 054 A00AA00 Y 054 B00AA00 N 054 C00AA00 N 054 D00AA00 N 054 E00AA00 N 054 F00AA00 N 054 G00AA00 N 054 H00AA00 N 054 I00AA00 N 054 J00AA00 Y 054 K00AA00 N 054 L00AA00 N 054 M00AA00 Y 054 N00AA00 Y 054 O00AA00 N 055 A000400 Y 055 B000400 N 055 A000500 Y 055 B000500 N 055 A000600 N 055 B000600 N 055 A000900 N 055 B000900 N 055 A001500 N 055 B001500 N PAGE 27 055 A001700 N 055 B001700 N 055 A001800 N 055 B001800 N 056 000400 Y 056 000500 Y 056 000600 Y 056 000900 Y 056 001500 Y 056 001700 Y 056 001800 Y 057 000400 N 057 000500 N 057 000600 N 057 000900 N 057 001500 N 057 001700 N 057 001800 N 058 A000400 N 058 A000500 N 058 A000600 N 058 A000900 N 058 A001500 N 058 A001700 N 058 A001800 N 059 000400 Y 059 000500 Y 059 000600 Y 059 000900 Y 059 001500 Y 059 001700 Y 059 001800 Y 060 A000400 N 060 B000400 N 060 A000500 Y 060 B000500 Y 060 A000600 Y 060 B000600 Y 060 A000900 Y 060 B000900 Y 060 A001500 Y 060 B001500 Y 060 A001700 Y 060 B001700 Y 060 A001800 Y 060 B001800 Y 061 000400 0 061 000500 0 061 000600 0 061 000900 0 061 001500 0 PAGE 28 061 001700 0 061 001800 0 062 A000400 N 062 B000400 0.0 062 C000400 0.0 062 D000400 0.0 062 E000400 0.0 062 F000400 0.0 062 G000400 0.0 062 H000400 0.0 062 I000400 0.0 062 J000400 0.0 062 K000400 0.0 062 L000400 0.0 062 M000400 0.0 062 N000400 0.0 062 O000400 0.0 062 P000400 0.0 062 Q000400 0.0 062 R000400 0.0 062 A000500 Y 062 B000500 0.0 062 C000500 0.0 062 D000500 2.3 062 E000500 0.0 062 F000500 0.0 062 G000500 0.0 062 H000500 0.0 062 I000500 0.0 062 J000500 0.0 062 K000500 0.0 062 L000500 0.0 062 M000500 20.3 062 N000500 0.4 062 O000500 0.0 062 P000500 41.0 062 Q000500 35.9 062 R000500 0.0 062 A000600 N 062 B000600 0.0 062 C000600 0.0 062 D000600 0.0 062 E000600 0.0 062 F000600 0.0 062 G000600 0.0 062 H000600 0.0 062 I000600 0.0 062 J000600 0.0 062 K000600 0.0 062 L000600 0.0 062 M000600 0.0 PAGE 29 062 N000600 0.0 062 O000600 0.0 062 P000600 0.0 062 Q000600 0.0 062 R000600 0.0 062 A000900 N 062 B000900 0.0 062 C000900 0.0 062 D000900 0.0 062 E000900 0.0 062 F000900 0.0 062 G000900 0.0 062 H000900 0.0 062 I000900 0.0 062 J000900 0.0 062 K000900 0.0 062 L000900 0.0 062 M000900 0.0 062 N000900 0.0 062 O000900 0.0 062 P000900 0.0 062 Q000900 0.0 062 R000900 0.0 062 A001500 N 062 B001500 0.0 062 C001500 0.0 062 D001500 0.0 062 E001500 0.0 062 F001500 0.0 062 G001500 0.0 062 H001500 0.0 062 I001500 0.0 062 J001500 0.0 062 K001500 0.0 062 L001500 0.0 062 M001500 0.0 062 N001500 0.0 062 O001500 0.0 062 P001500 0.0 062 Q001500 0.0 062 R001500 0.0 062 A001700 N 062 B001700 0.0 062 C001700 0.0 062 D001700 0.0 062 E001700 0.0 062 F001700 0.0 062 G001700 0.0 062 H001700 0.0 062 I001700 0.0 062 J001700 0.0 PAGE 30 062 K001700 0.0 062 L001700 0.0 062 M001700 0.0 062 N001700 0.0 062 O001700 0.0 062 P001700 0.0 062 Q001700 0.0 062 R001700 0.0 062 A001800 Y 062 B001800 0.0 062 C001800 0.0 062 D001800 17.1 062 E001800 0.0 062 F001800 0.0 062 G001800 0.0 062 H001800 0.0 062 I001800 0.0 062 J001800 0.0 062 K001800 0.0 062 L001800 0.0 062 M001800 0.0 062 N001800 0.0 062 O001800 0.0 062 P001800 81.3 062 Q001800 0.0 062 R001800 0.0 063 A000400 0 063 B000400 0.0 063 A000500 0 063 B000500 8.8 063 A000600 0 063 B000600 0.0 063 A000900 0 063 B000900 0.0 063 A001500 0 063 B001500 0.0 063 A001700 0 063 B001700 0.0 063 A001800 0 063 B001800 7.2 064 A000500 N 064 B000500 Y 064 A001800 N 064 B001800 N 065 000500 N 066 A000400 Y 066 B000400 N 066 C000400 N 066 D000400 Y 066 E000400 N 066 F000400 N PAGE 31 066 G000400 N 066 A000500 N 066 A000600 Y 066 B000600 N 066 C000600 N 066 D000600 N 066 E000600 Y 066 F000600 N 066 G000600 N 066 A000900 Y 066 B000900 N 066 C000900 N 066 D000900 Y 066 E000900 N 066 F000900 N 066 G000900 N 066 A001500 Y 066 B001500 N 066 C001500 Y 066 D001500 N 066 E001500 N 066 F001500 N 066 G001500 N 066 A001700 Y 066 B001700 N 066 C001700 N 066 D001700 Y 066 E001700 N 066 F001700 N 066 G001700 N 066 A001800 N 067 000400 N 067 000500 N 067 000600 N 067 000900 N 067 001500 N 067 001700 N 067 001800 N 068 A000400 N 068 B000400 Y 068 A000500 N 068 B000500 N 068 A000600 N 068 B000600 N 068 A000900 N 068 B000900 N 068 A001500 N 068 B001500 N 068 A001700 N 068 B001700 N 068 A001800 N PAGE 32 068 B001800 N 069 000400 N 069 000500 N 069 000600 N 069 000900 N 069 001500 Y 069 001700 N 069 001800 N 070 A010400 Y 070 A020400 N 070 B010400 Y 070 B020400 N 070 C010400 Y 070 C020400 N 070 D010400 Y 070 D020400 N 070 E010400 Y 070 E020400 N 070 F010400 Y 070 F020400 N 070 G010400 Y 070 G020400 N 070 H010400 Y 070 H020400 N 070 I010400 Y 070 I020400 N 070 J010400 Y 070 J020400 N 070 K010400 Y 070 K020400 Y 070 L010400 Y 070 L020400 Y 070 M010400 Y 070 M020400 Y 070 N010400 Y 070 N020400 N 070 O010400 Y 070 O020400 Y 070 P010400 Y 070 P020400 N 070 Q010400 Y 070 Q020400 N 070 R010400 Y 070 R020400 N 070 A010500 Y 070 A020500 Y 070 B010500 Y 070 B020500 N 070 C010500 Y 070 C020500 N 070 D010500 Y PAGE 33 070 D020500 N 070 E010500 Y 070 E020500 N 070 F010500 Y 070 F020500 N 070 G010500 Y 070 G020500 N 070 H010500 Y 070 H020500 N 070 I010500 Y 070 I020500 N 070 J010500 Y 070 J020500 N 070 K010500 Y 070 K020500 N 070 L010500 Y 070 L020500 Y 070 M010500 Y 070 M020500 Y 070 N010500 Y 070 N020500 N 070 O010500 Y 070 O020500 N 070 P010500 Y 070 P020500 N 070 Q010500 Y 070 Q020500 N 070 R010500 Y 070 R020500 N 070 A010600 Y 070 A020600 Y 070 B010600 N 070 B020600 N 070 C010600 N 070 C020600 N 070 D010600 Y 070 D020600 N 070 E010600 Y 070 E020600 N 070 F010600 Y 070 F020600 N 070 G010600 Y 070 G020600 N 070 H010600 Y 070 H020600 N 070 I010600 Y 070 I020600 N 070 J010600 Y 070 J020600 N 070 K010600 Y 070 K020600 N PAGE 34 070 L010600 Y 070 L020600 Y 070 M010600 N 070 M020600 N 070 N010600 Y 070 N020600 N 070 O010600 Y 070 O020600 N 070 P010600 Y 070 P020600 N 070 Q010600 Y 070 Q020600 N 070 R010600 Y 070 R020600 N 070 A010900 Y 070 A020900 Y 070 B010900 N 070 B020900 N 070 C010900 N 070 C020900 N 070 D010900 Y 070 D020900 N 070 E010900 Y 070 E020900 N 070 F010900 Y 070 F020900 N 070 G010900 Y 070 G020900 N 070 H010900 Y 070 H020900 N 070 I010900 Y 070 I020900 N 070 J010900 Y 070 J020900 N 070 K010900 Y 070 K020900 N 070 L010900 Y 070 L020900 Y 070 M010900 N 070 M020900 N 070 N010900 Y 070 N020900 N 070 O010900 Y 070 O020900 N 070 P010900 Y 070 P020900 N 070 Q010900 Y 070 Q020900 N 070 R010900 Y 070 R020900 N 070 A011500 Y PAGE 35 070 A021500 Y 070 B011500 Y 070 B021500 N 070 C011500 Y 070 C021500 N 070 D011500 Y 070 D021500 N 070 E011500 Y 070 E021500 N 070 F011500 Y 070 F021500 Y 070 G011500 Y 070 G021500 N 070 H011500 Y 070 H021500 N 070 I011500 Y 070 I021500 N 070 J011500 Y 070 J021500 N 070 K011500 Y 070 K021500 N 070 L011500 Y 070 L021500 N 070 M011500 N 070 M021500 N 070 N011500 Y 070 N021500 N 070 O011500 Y 070 O021500 N 070 P011500 Y 070 P021500 N 070 Q011500 Y 070 Q021500 N 070 R011500 Y 070 R021500 N 070 A011700 Y 070 A021700 Y 070 B011700 Y 070 B021700 N 070 C011700 Y 070 C021700 N 070 D011700 Y 070 D021700 N 070 E011700 Y 070 E021700 N 070 F011700 Y 070 F021700 N 070 G011700 Y 070 G021700 N 070 H011700 Y 070 H021700 N PAGE 36 070 I011700 Y 070 I021700 N 070 J011700 Y 070 J021700 N 070 K011700 Y 070 K021700 N 070 L011700 Y 070 L021700 Y 070 M011700 N 070 M021700 N 070 N011700 Y 070 N021700 N 070 O011700 Y 070 O021700 N 070 P011700 Y 070 P021700 N 070 Q011700 Y 070 Q021700 N 070 R011700 Y 070 R021700 N 070 A011800 Y 070 A021800 Y 070 B011800 Y 070 B021800 N 070 C011800 Y 070 C021800 N 070 D011800 Y 070 D021800 N 070 E011800 Y 070 E021800 N 070 F011800 Y 070 F021800 N 070 G011800 Y 070 G021800 N 070 H011800 Y 070 H021800 N 070 I011800 N 070 I021800 N 070 J011800 Y 070 J021800 Y 070 K011800 Y 070 K021800 N 070 L011800 Y 070 L021800 N 070 M011800 Y 070 M021800 N 070 N011800 Y 070 N021800 N 070 O011800 Y 070 O021800 N 070 P011800 Y PAGE 37 070 P021800 N 070 Q011800 Y 070 Q021800 N 070 R011800 N 070 R021800 N 071 A000400 46453 071 B000400 61900 071 C000400 69569 071 D000400 67 071 A000500 58619 071 B000500 72115 071 C000500 145057 071 D000500 40 071 A000600 168552 071 B000600 219168 071 C000600 230761 071 D000600 73 071 A000900 243277 071 B000900 130214 071 C000900 346767 071 D000900 38 071 A001500 3786 071 B001500 7040 071 C001500 52389 071 D001500 7 071 A001700 26621 071 B001700 30439 071 C001700 41887 071 D001700 64 071 A001800 93497 071 B001800 31778 071 C001800 107027 071 D001800 30 072 A000400 12 072 B000400 21 072 C000400 1695 072 D000400 0 072 E000400 0 072 F000400 610 072 G000400 0 072 H000400 0 072 I000400 6 072 J000400 75 072 K000400 0 072 L000400 0 072 M000400 9 072 N000400 0 072 O000400 0 072 P000400 0 072 Q000400 46 072 R000400 0 PAGE 38 072 S000400 0 072 T000400 15 072 U000400 0 072 V000400 0 072 W000400 71 072 X000400 832 072 Y000400 146 072 Z000400 1030 072AA000400 8617 072BB000400 0 072CC010400 0 072CC020400 1297 072DD010400 0 072DD020400 0 072EE000400 0 072 A000500 12 072 B000500 10352 072 C000500 0 072 D000500 0 072 E000500 36 072 F000500 906 072 G000500 0 072 H000500 0 072 I000500 6 072 J000500 37 072 K000500 0 072 L000500 0 072 M000500 10 072 N000500 0 072 O000500 0 072 P000500 0 072 Q000500 99 072 R000500 0 072 S000500 0 072 T000500 147 072 U000500 0 072 V000500 0 072 W000500 99 072 X000500 1304 072 Y000500 8 072 Z000500 9092 072AA000500 2414 072BB000500 0 072CC010500 0 072CC020500 9299 072DD010500 0 072DD020500 0 072EE000500 0 072 A000600 12 072 B000600 40 072 C000600 5568 PAGE 39 072 D000600 0 072 E000600 0 072 F000600 1770 072 G000600 0 072 H000600 0 072 I000600 6 072 J000600 24 072 K000600 0 072 L000600 0 072 M000600 13 072 N000600 0 072 O000600 0 072 P000600 0 072 Q000600 70 072 R000600 0 072 S000600 0 072 T000600 110 072 U000600 0 072 V000600 0 072 W000600 101 072 X000600 2094 072 Y000600 139 072 Z000600 3653 072AA000600 34744 072BB000600 0 072CC010600 0 072CC020600 24798 072DD010600 0 072DD020600 0 072EE000600 0 072 A000900 12 072 B000900 108 072 C000900 5360 072 D000900 0 072 E000900 0 072 F000900 2784 072 G000900 0 072 H000900 0 072 I000900 6 072 J000900 87 072 K000900 0 072 L000900 0 072 M000900 15 072 N000900 0 072 O000900 0 072 P000900 0 072 Q000900 96 072 R000900 0 072 S000900 0 072 T000900 836 072 U000900 0 PAGE 40 072 V000900 0 072 W000900 148 072 X000900 3972 072 Y000900 172 072 Z000900 1668 072AA000900 11305 072BB000900 0 072CC010900 9671 072CC020900 0 072DD010900 0 072DD020900 0 072EE000900 761 072 A001500 12 072 B001500 25 072 C001500 974 072 D001500 0 072 E001500 0 072 F001500 106 072 G001500 0 072 H001500 0 072 I001500 6 072 J001500 26 072 K001500 0 072 L001500 0 072 M001500 8 072 N001500 0 072 O001500 0 072 P001500 0 072 Q001500 51 072 R001500 24 072 S001500 0 072 T001500 133 072 U001500 0 072 V001500 0 072 W001500 19 072 X001500 373 072 Y001500 8 072 Z001500 634 072AA001500 0 072BB001500 1035 072CC011500 2596 072CC021500 0 072DD011500 0 072DD021500 0 072EE001500 0 072 A001700 12 072 B001700 26 072 C001700 671 072 D001700 0 072 E001700 0 072 F001700 298 PAGE 41 072 G001700 0 072 H001700 0 072 I001700 6 072 J001700 11 072 K001700 0 072 L001700 0 072 M001700 8 072 N001700 0 072 O001700 0 072 P001700 0 072 Q001700 20 072 R001700 30 072 S001700 0 072 T001700 102 072 U001700 0 072 V001700 0 072 W001700 28 072 X001700 503 072 Y001700 38 072 Z001700 232 072AA001700 7090 072BB001700 0 072CC011700 0 072CC021700 2449 072DD011700 0 072DD021700 0 072EE001700 0 072 A001800 12 072 B001800 7581 072 C001800 0 072 D001800 0 072 E001800 0 072 F001800 728 072 G001800 0 072 H001800 0 072 I001800 4 072 J001800 8 072 K001800 0 072 L001800 0 072 M001800 9 072 N001800 0 072 O001800 0 072 P001800 0 072 Q001800 42 072 R001800 0 072 S001800 0 072 T001800 282 072 U001800 0 072 V001800 0 072 W001800 85 072 X001800 1158 PAGE 42 072 Y001800 363 072 Z001800 6786 072AA001800 21 072BB001800 0 072CC011800 0 072CC021800 3365 072DD011800 0 072DD021800 0 072EE001800 0 073 A010400 0.0000 073 A020400 0.0000 073 B000400 0.0000 073 C000400 0.0000 073 A010500 0.0000 073 A020500 0.0000 073 B000500 0.0000 073 C000500 0.0000 073 A010600 0.0000 073 A020600 0.0000 073 B000600 0.0000 073 C000600 0.0000 073 A010900 0.0000 073 A020900 0.0000 073 B000900 0.0300 073 C000900 0.0000 073 A011500 0.0000 073 A021500 0.0000 073 B001500 0.0000 073 C001500 0.0000 073 A011700 0.0000 073 A021700 0.0000 073 B001700 0.0000 073 C001700 0.0000 073 A011800 0.0000 073 A021800 0.0000 073 B001800 0.0000 073 C001800 0.0000 074 A000400 128 074 B000400 0 074 C000400 0 074 D000400 0 074 E000400 0 074 F000400 66415 074 G000400 0 074 H000400 0 074 I000400 1775 074 J000400 1082 074 K000400 41 074 L000400 95 074 M000400 0 074 N000400 69536 PAGE 43 074 O000400 1209 074 P000400 69 074 Q000400 0 074 R010400 0 074 R020400 0 074 R030400 0 074 R040400 483 074 S000400 0 074 T000400 67775 074 U010400 28585 074 U020400 2920 074 V010400 2.15 074 V020400 2.14 074 W000400 0.0000 074 X000400 11 074 Y000400 0 074 A000500 233 074 B000500 3167 074 C000500 0 074 D000500 136798 074 E000500 0 074 F000500 45 074 G000500 0 074 H000500 0 074 I000500 5 074 J000500 0 074 K000500 17 074 L000500 3007 074 M000500 61 074 N000500 143333 074 O000500 2868 074 P000500 114 074 Q000500 0 074 R010500 0 074 R020500 0 074 R030500 0 074 R040500 257 074 S000500 0 074 T000500 140094 074 U010500 8257 074 U020500 5601 074 V010500 10.12 074 V020500 10.09 074 W000500 0.0000 074 X000500 16 074 Y000500 0 074 A000600 1 074 B000600 1129 074 C000600 0 074 D000600 0 074 E000600 1096 PAGE 44 074 F000600 211688 074 G000600 0 074 H000600 0 074 I000600 0 074 J000600 0 074 K000600 52 074 L000600 391 074 M000600 0 074 N000600 214357 074 O000600 639 074 P000600 184 074 Q000600 0 074 R010600 0 074 R020600 0 074 R030600 0 074 R040600 639 074 S000600 0 074 T000600 212895 074 U010600 10129 074 U020600 2528 074 V010600 16.83 074 V020600 16.78 074 W000600 0.0000 074 X000600 15 074 Y000600 0 074 A000900 1 074 B000900 1992 074 C000900 0 074 D000900 0 074 E000900 0 074 F000900 411234 074 G000900 0 074 H000900 0 074 I000900 0 074 J000900 40 074 K000900 56 074 L000900 720 074 M000900 0 074 N000900 414043 074 O000900 293 074 P000900 386 074 Q000900 0 074 R010900 0 074 R020900 0 074 R030900 0 074 R040900 112 074 S000900 0 074 T000900 413252 074 U010900 768 074 U020900 22438 074 V010900 17.86 PAGE 45 074 V020900 17.81 074 W000900 0.0000 074 X000900 17 074 Y000900 0 074 A001500 1 074 B001500 338 074 C001500 50 074 D001500 0 074 E001500 0 074 F001500 52201 074 G001500 0 074 H001500 0 074 I001500 0 074 J001500 4 074 K001500 5 074 L001500 74 074 M001500 0 074 N001500 52673 074 O001500 66 074 P001500 36 074 Q001500 0 074 R011500 0 074 R021500 0 074 R031500 0 074 R041500 45 074 S001500 0 074 T001500 52526 074 U011500 9 074 U021500 4825 074 V011500 10.92 074 V021500 10.87 074 W001500 0.0000 074 X001500 5 074 Y001500 50 074 A001700 1 074 B001700 730 074 C001700 0 074 D001700 157 074 E001700 45 074 F001700 42585 074 G001700 0 074 H001700 0 074 I001700 0 074 J001700 105 074 K001700 35 074 L001700 58 074 M001700 0 074 N001700 43716 074 O001700 222 074 P001700 45 074 Q001700 0 PAGE 46 074 R011700 0 074 R021700 0 074 R031700 0 074 R041700 117 074 S001700 0 074 T001700 43332 074 U011700 97 074 U021700 2094 074 V011700 19.84 074 V021700 19.77 074 W001700 0.0000 074 X001700 9 074 Y001700 0 074 A001800 0 074 B001800 27808 074 C001800 0 074 D001800 132277 074 E001800 0 074 F001800 0 074 G001800 0 074 H001800 0 074 I001800 1 074 J001800 0 074 K001800 37 074 L001800 2691 074 M001800 0 074 N001800 162814 074 O001800 0 074 P001800 99 074 Q001800 0 074 R011800 0 074 R021800 0 074 R031800 0 074 R041800 39 074 S001800 0 074 T001800 162676 074 U011800 770 074 U021800 15840 074 V011800 9.79 074 V021800 9.79 074 W001800 0.0000 074 X001800 15 074 Y001800 0 075 A000400 0 075 B000400 70556 075 A000500 0 075 B000500 152237 075 A000600 0 075 B000600 231591 075 A000900 0 075 B000900 348358 PAGE 47 075 A001500 0 075 B001500 53275 075 A001700 0 075 B001700 42649 075 A001800 0 075 B001800 121539 076 000400 0.00 076 000500 0.00 076 000600 0.00 076 000900 0.00 076 001500 0.00 076 001700 0.00 076 001800 0.00 077 A000000 Y 077 B000000 Y 077 C000000 Y 077 D000000 Y 077 E000000 Y 077 F000000 N 077 G000000 N 077 H000000 N 077 I000000 N 077 J000000 N 077 K000000 N 077 L000000 N 077 M000000 N 077 N000000 N 077 O000000 Y 077 P000000 N 077 Q010000 Y 077 Q020000 N 077 Q030000 N 078 000000 N 080 A00AA00 ICI MUTUAL INSURANCE COMPANY 080 B00AA00 N/A 080 C00AA00 35000 081 A00AA00 Y 081 B00AA00 100 082 A00AA00 N 082 B00AA00 0 083 A00AA00 N 083 B00AA00 0 084 A00AA00 N 084 B00AA00 0 085 A00AA00 Y 085 B00AA00 N 086 A010000 0 086 A020000 0 086 B010000 0 086 B020000 0 086 C010000 0 PAGE 48 086 C020000 0 086 D010000 0 086 D020000 0 086 E010000 0 086 E020000 0 086 F010000 0 086 F020000 0 SIGNATURE DOUGLAS RODES TITLE VICE PRESIDENT EX-99 2 exh.txt PRICEWATERHOUSECOOPERS PWC PricewaterhouseCoopers LLP 125 High Street Boston, MA 02110 Telephone (617) 530-5000 Facsimile (617) 530-5001 Report of Independent Registered Public Accounting Firm To the Trustees and the Shareholders of Liberty Variable Investment Trust In planning and performing our audits of the financial statements of Columbia International Fund, Variable Series; Liberty Growth & Income Fund, Variable Series; Colonial Strategic Income Fund, Variable Series; Colonial Small Cap Value Fund, Variable Series; Columbia High Yield Fund, Variable Series; Liberty Select Value Fund, Variable Series; Liberty S&P 500 Index Fund, Variable Series (the "Funds") (each a series of Liberty Variable Investment Trust) as of and for the year ended December 31, 2005, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Funds' internal control over financial reporting, including control activities for safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we express no such opinion. The management of the Funds is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A fund's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. Such internal control over financial reporting includes policies and procedures that provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a fund's assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. A control deficiency exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A significant deficiency is a control deficiency, or combination of control deficiencies, that adversely affects the funds' ability to initiate, authorize, record, process or report external financial data reliably in accordance with generally accepted accounting principles such that there is more than a remote likelihood that a misstatement of the funds' annual or interim financial statements that is more than inconsequential will not be prevented or detected. A material weakness is a control deficiency, or combination of control deficiencies, that results in more than a remote likelihood that a material misstatement of the annual or interim financial statements will not be prevented or detected. Our consideration of the Funds' internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be significant deficiencies or material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). However, we noted no deficiencies in the Funds' internal control over financial reporting and its operation, including controls for safeguarding securities, that we consider to be material weaknesses as defined above as of December 31, 2005. This report is intended solely for the information and use of management and the Board of Liberty Variable Investment Trust and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties. /s/PricewaterhouseCoopers LLP Boston, Massachusetts February 21, 2006 77C Matters submitted to a vote of security holders Columbia International Fund, Variable Series Colonial Strategic Income Fund, Variable Series Liberty Growth & Income Fund, Variable Series Colonial Small Cap Value Fund, Variable Series Liberty Select Value Fund, Variable Series Liberty S&P 500 Index Fund, Variable Series Columbia High Yield Fund, Variable Series On November 30, 2005, a Special Meeting of the Shareholders of the Funds was held to approve the following items, as described in the Proxy Statement for the Meeting. The votes cast at the Meeting were as follows:
To elect Trustees: For Withheld - ------------------------------------- ----------------------------------- ----------------------------------- Douglas A. Hacker 103,709,400.119 2,219,756.770 - ------------------------------------- ----------------------------------- ----------------------------------- - ------------------------------------- ----------------------------------- ----------------------------------- Janet Langford Kelly 103,696,791.948 2,232,364.941 - ------------------------------------- ----------------------------------- ----------------------------------- - ------------------------------------- ----------------------------------- ----------------------------------- Richard W. Lowry 103,715,040.509 2,214,116.380 - ------------------------------------- ----------------------------------- ----------------------------------- - ------------------------------------- ----------------------------------- ----------------------------------- Charles R. Nelson 103,730,474.376 2,198,682.513 - ------------------------------------- ----------------------------------- ----------------------------------- - ------------------------------------- ----------------------------------- ----------------------------------- John J. Neuhauser 103,764,870.365 2,164,286.524 - ------------------------------------- ----------------------------------- ----------------------------------- - ------------------------------------- ----------------------------------- ----------------------------------- Patrick J. Simpson 103,695,797.460 2,233,359.429 - ------------------------------------- ----------------------------------- ----------------------------------- - ------------------------------------- ----------------------------------- ----------------------------------- Thomas E. Sitzel 103,736,618.654 2,192,538.235 - ------------------------------------- ----------------------------------- ----------------------------------- - ------------------------------------- ----------------------------------- ----------------------------------- Thomas C. Theobald 103,650,454.716 2,278,702.173 - ------------------------------------- ----------------------------------- ----------------------------------- - ------------------------------------- ----------------------------------- ----------------------------------- Anne-Lee Verville 103,747,491.228 2,181,665.661 - ------------------------------------- ----------------------------------- ----------------------------------- - ------------------------------------- ----------------------------------- ----------------------------------- Richard L. Woolworth 103,670,489.751 2,258,667.138 - ------------------------------------- ----------------------------------- ----------------------------------- - ------------------------------------- ----------------------------------- ----------------------------------- William E. Mayer 103,653,353.223 2,275,803.666 - ------------------------------------- ----------------------------------- -----------------------------------
Shares of beneficial interest being a plurality of the shares represented at the Meeting. Columbia International Fund, Variable Series Amendment to fundamental investment restrictions with respect to issuing senior securities. For: 33,269,759.572 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 414,304.478 Shares of beneficial interest Abstain: 805,732.701 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to making loans. For: 32,942,660.105 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 655,003.368 Shares of beneficial interest Abstain: 892,133.278 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to investments in real estate. For: 32,855,572.703 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 671,474.352 Shares of beneficial interest Abstain: 962,749.696 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to underwriting of securities. For: 32,958,339.965 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 548,462.377 Shares of beneficial interest Abstain: 982,994.409 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to concentrating investments in an industry. For: 33,009,477.182 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 497,325.160 Shares of beneficial interest Abstain: 982,994.409 Shares of beneficial interest Elimination of fundamental investment restrictions with respect to buying and selling puts and calls. For: 32,814,505.658 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 652,653.593 Shares of beneficial interest Abstain: 1,022,637.500 Shares of beneficial interest Colonial Strategic Income Fund, Variable Series Amendment to fundamental investment restrictions with respect to issuing senior securities. For: 14,154,705.801 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 348,118.419 Shares of beneficial interest Abstain: 423,657.344 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to making loans. For: 14,081,310.511 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 409,835.544 Shares of beneficial interest Abstain: 435,335.509 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to diversification of investments. For: 14,172,680.804 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 349,451.840 Shares of beneficial interest Abstain: 404,348.920 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to investments in real estate. For: 14,097,362.555 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 376,044.958 Shares of beneficial interest Abstain: 453,074.051 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to underwriting of securities. For: 14,158,803.919 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 313,325.707 Shares of beneficial interest Abstain: 454,351.938 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to concentrating investments in an industry. For: 14,086,590.886 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 380,765.098 Shares of beneficial interest Abstain: 459,125.580 Shares of beneficial interest Elimination of fundamental investment restrictions with respect to buying and selling puts and calls. For: 14,016,027.509 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 431,822.308 Shares of beneficial interest Abstain: 478,631.747 Shares of beneficial interest Liberty Growth & Income Fund, Variable Series Amendment to fundamental investment restrictions with respect to issuing senior securities. For: 12,937,526.791 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 204,257.072 Shares of beneficial interest Abstain: 596,327.101 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to making loans. For: 12,801,347.657 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 243,401.282 Shares of beneficial interest Abstain: 693,362.025 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to diversification of investments. For: 12,914,148.284 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 191,101.845 Shares of beneficial interest Abstain: 632,860.835 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to investments in real estate. For: 12,912,736.065 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 183,317.985 Shares of beneficial interest Abstain: 642,056.914 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to underwriting of securities. For: 12,795,247.605 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 233,787.865 Shares of beneficial interest Abstain: 709,075.494 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to concentrating investments in an industry. For: 12,853,850.373 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 180,763.339 Shares of beneficial interest Abstain: 703,497.252 Shares of beneficial interest Elimination of fundamental investment restrictions with respect to buying and selling puts and calls. For: 12,738,618.964 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 283,178.006 Shares of beneficial interest Abstain: 716,313.994 Shares of beneficial interest Colonial Small Cap Value Fund, Variable Series Amendment to fundamental investment restrictions with respect to issuing senior securities. For: 20,519,198.740 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 617,258.461 Shares of beneficial interest Abstain: 634,464.801 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to making loans. For: 20,277,518.245 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 938,792.828 Shares of beneficial interest Abstain: 554,610.929 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to diversification of investments. For: 20,530,510.935 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 666,852.152 Shares of beneficial interest Abstain: 573,558.915 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to investments in real estate. For: 20,451,425.708 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 735,291.092 Shares of beneficial interest Abstain: 584,205.202 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to underwriting of securities. For: 20,527,466.924 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 579,883.271 Shares of beneficial interest Abstain: 663,571.807 Shares of beneficial interest Elimination of fundamental investment restrictions with respect to investing for the purpose of exercising control. For: 20,384,620.128 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 698,770.425 Shares of beneficial interest Abstain: 687,531.449 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to concentrating investments in an industry. For: 20,385,366.871 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 785,868.510 Shares of beneficial interest Abstain: 599,686.621 Shares of beneficial interest Elimination of fundamental investment restrictions with respect to buying and selling puts and calls. For: 20,211,882.312 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 881,148.365 Shares of beneficial interest Abstain: 677,891.325 Shares of beneficial interest Liberty Select Value Fund, Variable Series Amendment to fundamental investment restrictions with respect to borrowing money. For: 2,177,656.443 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 29,514.310 Shares of beneficial interest Abstain: 62,000.022 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to issuing senior securities. For: 2,175,882.468 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 23,007.380 Shares of beneficial interest Abstain: 70,280.927 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to making loans. For: 2,175,460.688 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 28,055.059 Shares of beneficial interest Abstain: 65,655.028 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to diversification of investments. For: 2,188,081.434 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 21,265.038 Shares of beneficial interest Abstain: 59,824.303 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to investments in real estate. For: 2,168,518.697 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 28,220.180 Shares of beneficial interest Abstain: 72,431.898 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to underwriting of securities. For: 2,169,553.810 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 27,185.067 Shares of beneficial interest Abstain: 72,431.898 Shares of beneficial interest Elimination of fundamental investment restrictions with respect to investing for the purpose of exercising control. For: 2,173,795.717 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 26,598.166 Shares of beneficial interest Abstain: 68,776.892 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to concentrating investments in an industry. For: 2,171,171.050 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 25,567.827 Shares of beneficial interest Abstain: 72,431.898 Shares of beneficial interest Elimination of fundamental investment restrictions with respect to buying and selling puts and calls. For: 2,171,171.050 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 19,647.798 Shares of beneficial interest Abstain: 78,351.927 Shares of beneficial interest Liberty S&P 500 Index Fund, Variable Series Amendment to fundamental investment restrictions with respect to borrowing money. For: 4,799,512.387 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 44,864.416 Shares of beneficial interest Abstain: 159,050.228 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to issuing senior securities. For: 4,832,539.415 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 37,784.742 Shares of beneficial interest Abstain: 133,102.874 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to making loans. For: 4,817,839.112 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 52,485.045 Shares of beneficial interest Abstain: 133,102.874 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to diversification of investments. For: 4,844,117.032 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 34,113.906 Shares of beneficial interest Abstain: 125,196.093 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to investments in real estate. For: 4,836,210.251 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 34,113.906 Shares of beneficial interest Abstain: 133,102.874 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to underwriting of securities. For: 4,824,900.035 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 38,186.954 Shares of beneficial interest Abstain: 140,340.042 Shares of beneficial interest Elimination of fundamental investment restrictions with respect to investing for the purpose of exercising control. For: 4,816,250.972 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 49,652.473 Shares of beneficial interest Abstain: 137,523.586 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to concentrating investments in an industry. For: 4,812,935.516 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 57,391.641 Shares of beneficial interest Abstain: 133,102.874 Shares of beneficial interest Elimination of fundamental investment restrictions with respect to buying and selling puts and calls. For: 4,818,019.646 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 39,390.038 Shares of beneficial interest Abstain: 146,017.347 Shares of beneficial interest Columbia High Yield Fund, Variable Series Amendment to fundamental investment restrictions with respect to borrowing money. For: 12,951,176.617 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 416,939.703 Shares of beneficial interest Abstain: 363,131.482 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to issuing senior securities. For: 12,953,258.466 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 381,433.017 Shares of beneficial interest Abstain: 396,556.319 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to pledging assets. For: 12,942,555.987 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 427,547.957 Shares of beneficial interest Abstain: 361,143.858 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to making loans. For: 12,959,725.839 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 417,227.895 Shares of beneficial interest Abstain: 354,294.068 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to diversification of investments. For: 13,071,737.651 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 322,901.550 Shares of beneficial interest Abstain: 336,608.601 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to investments in commodities. For: 12,983,317.212 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 403,795.530 Shares of beneficial interest Abstain: 344,135.060 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to investments in real estate. For: 13,032,178.357 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 347,331.162 Shares of beneficial interest Abstain: 351,738.283 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to underwriting of securities. For: 12,946,984.078 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 382,774.901 Shares of beneficial interest Abstain: 401,488.823 Shares of beneficial interest Elimination of fundamental investment restrictions with respect to purchasing securities on margin. For: 12,833,718.205 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 532,243.543 Shares of beneficial interest Abstain: 365,286.054 Shares of beneficial interest Elimination of fundamental investment restrictions with respect to investing for the purpose of exercising control. For: 12,886,451.675 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 472,065.837 Shares of beneficial interest Abstain: 372,730.290 Shares of beneficial interest Elimination of fundamental investment restrictions with respect to short sales. For: 12,884,460.901 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 485,501.580 Shares of beneficial interest Abstain: 361,285.321 Shares of beneficial interest Amendment to fundamental investment restrictions with respect to concentrating investments in an industry. For: 13,002,008.961 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 371,876.744 Shares of beneficial interest Abstain: 357,362.097 Shares of beneficial interest Elimination of fundamental investment restrictions with respect to purchasing illiquid securities. For: 12,871,605.563 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 492,304.924 Shares of beneficial interest Abstain: 367,337.315 Shares of beneficial interest Elimination of fundamental investment restrictions with respect to investing in securities of other investment companies. For: 12,963,171.724 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 422,977.666 Shares of beneficial interest Abstain: 345,098.412 Shares of beneficial interest Elimination of fundamental investment restrictions with respect to buying and selling puts and calls. For: 12,899,944.600 Shares of beneficial interest being a majority of the shares represented at the meeting. Against: 437,796.658 Shares of beneficial interest Abstain: 393,506.544 Shares of beneficial interest 77D Policies with respect to security investments Columbia International Fund, Variable Series The Fund's investment advisor uses a bottom-up analysis to conduct in-depth company research in order to identify attractive securities for investment. Fundamental security analysis is used to evaluate the merits of individual companies being considered for investment. All stocks in the available investment universe will be rated according to a pre-determined set of criteria including measures of relative valuation, operating efficiency, capital discipline, accounting conservatism and timeliness, all of which have demonstrated effectiveness in predicting future out performance. Stocks ranking in the highest levels of attractiveness on these metrics will be subjected to rigorous fundamental evaluation. We look for companies with improving trends in revenue and earnings, rising returns on capital and strong or improving cash generation. Stocks deemed attractive after this second stage of evaluation will comprise the primary list of investment prospects. Colonial Strategic Income Fund, Variable Series The Fund's Principal Investment Strategies was revised as follows: The Fund seeks to achieve its investment goals by investing primarily in: o debt securities issued by the U.S. government, including mortgage-backed securities issued by U.S. government agencies. The Fund may also participate in mortgage dollar rolls; o debt securities issued by foreign governments and foreign companies, including securities issued in emerging market countries; and o lower-rated corporate debt securities. The following was added as a Principal Investment Risk to the Fund: Mortgage dollar rolls are transactions in which the Fund sells mortgage-backed securities to a dealer and simultaneously agrees to purchase similar securities in the future at a predetermined price. These transactions simulate an investment in mortgage-backed securities and have the potential to enhance the Fund's returns and reduce its administrative burdens, compared with holding mortgage-backed securities directly. Mortgage dollar rolls involve the risks that the market value of the securities the Fund is obligated to repurchase may decline below the repurchase price, or that the other party may default on its obligations. These transactions may increase the Fund's portfolio turnover rate. 77E Legal Proceedings Columbia International Fund, Variable Series Colonial Strategic Income Fund, Variable Series Liberty Growth & Income Fund, Variable Series Colonial Small Cap Value Fund, Variable Series Liberty Select Value Fund, Variable Series Liberty S&P 500 Index Fund, Variable Series Columbia High Yield Fund, Variable Series On February 9, 2005, Columbia Management Advisors, Inc. (which has since merged into Banc of America Capital Management, LLC (now named Columbia Management Advisors, LLC)) ("Columbia") and Columbia Funds Distributor, Inc. (which has been renamed Columbia Management Distributors, Inc.) (the "Distributor") (collectively, the "Columbia Group") entered into an Assurance of Discontinuance with the New York Attorney General ("NYAG") (the "NYAG Settlement") and consented to the entry of a cease-and-desist order by the Securities and Exchange Commission ("SEC") (the "SEC Order"). The SEC Order and the NYAG Settlement are referred to collectively as the "Settlements". The Settlements contain substantially the same terms and conditions as outlined in the agreements in principle which Columbia Group entered into with the SEC and NYAG in March 2004. Under the terms of the SEC Order, the Columbia Group has agreed among other things, to: pay $70 million in disgorgement and $70 million in civil money penalties; cease and desist from violations of the antifraud provisions and certain other provisions of the federal securities laws; maintain certain compliance and ethics oversight structures; retain an independent consultant to review the Columbia Group's applicable supervisory, compliance, control and other policies and procedures; and retain an independent distribution consultant (see below). The Columbia Funds have also voluntarily undertaken to implement certain governance measures designed to maintain the independence of their boards of trustees. The NYAG Settlement also, among other things, requires Columbia and its affiliates to reduce certain Columbia Funds (including the former Nations Funds) and other mutual funds management fees collectively by $32 million per year for five years, for a projected total of $160 million in management fee reductions. Pursuant to the procedures set forth in the SEC order, the $140 million in settlement amounts described above will be distributed in accordance with a distribution plan developed by an independent distribution consultant and agreed to by the staff of the SEC. The independent distribution consultant has been in consultation with the Staff, and he has submitted a draft proposed plan of distribution, but has not yet submitted a final proposed plan of distribution. As a result of these matters or any adverse publicity or other developments resulting from them, there may be increased redemptions or reduced sales of fund shares, which could increase transaction costs or operating expenses, or have other adverse consequences for the funds. A copy of the SEC Order is available on the SEC website at http://www.sec.gov. A copy of the NYAG Settlement is available as part of the Bank of America Corporation Form 8-K filing on February 10, 2005. In connection with the events described in detail above, various parties have filed suit against certain funds, the Trustees of the Columbia Funds, FleetBoston Financial Corporation and its affiliated entities and/or Bank of America and its affiliated entities. On February 20, 2004, the Judicial Panel on Multidistrict Litigation transferred these cases and cases against several other mutual fund companies based on similar allegations to the United States District Court in Maryland for consolidated or coordinated pretrial proceedings (the "MDL"). Subsequently, additional related cases were transferred to the MDL. On September 29, 2004, the plaintiffs in the MDL filed amended and consolidated complaints. One of these amended complaints is a putative class action that includes claims under the federal securities laws and state common law, and that names Columbia, the Distributor, the Trustees of the Columbia Funds, Bank of America Corporation and others as defendants. Another of the amended complaints is a derivative action purportedly on behalf of the Columbia Funds that asserts claims under federal securities laws and state common law. On February 25, 2005, Columbia and other defendants filed motions to dismiss the claims in the pending cases. On November 3, 2005, the U.S. District Court for the District of Maryland dismissed the claims under the Securities Act of 1933, the claims under Sections 34(b) and 36(a) of the Investment Company Act of 1940 (ICA) and the state law claims against Columbia and others. The claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Section 36(b) of the ICA were not dismissed. On March 21, 2005 purported class action plaintiffs filed suit in Massachusetts state court alleging that the conduct, including market timing, entitles Class B shareholders in certain Columbia funds to an exemption from contingent deferred sales charges upon early redemption ("the CDSC Lawsuit"). The CDSC Lawsuit has been removed to federal court in Massachusetts and the federal Judicial Panel has transferred the CDSC Lawsuit to the MDL. The MDL is ongoing. Accordingly, an estimate of the financial impact of this litigation on any fund, if any, cannot currently be made. In 2004, certain Columbia funds, the Trustees of the Columbia Funds, advisers and affiliated entities were named as defendants in certain purported shareholder class and derivative actions making claims, including claims under the Investment Company and the Investment Advisers Acts of 1940 and state law. The suits allege, inter alia, that the fees and expenses paid by the funds are excessive and that the advisers and their affiliates inappropriately used fund assets to distribute the funds and for other improper purpose. On March 2, 2005, the actions were consolidated in the Massachusetts federal court as In re Columbia Entities Litigation. The plaintiffs filed a consolidated amended complaint on June 9, 2005. On November 30, 2005, the judge dismissed all claims by plaintiffs and ordered that the case be closed. The plaintiffs filed a notice of appeal on December 30, 2005 and this appeal is pending. 77O Transactions effected pursuant to Rule 10f-3 Colonial Strategic Income Fund, Variable Series On July 27, 2005, Colonial Strategic Income Fund, Variable Series (Fund) purchased 80,000 par value of common stock notes of L-3 Communications Corp 6.375% 15 (Securities) for a total purchase price of $79,272 from Lehman Brothers pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On July 27, 2005, Colonial Strategic Income Fund, Variable Series (Fund) purchased 60,000 par value of common stock notes of Sungard Data Systems Inc. 9.125% 13 (Securities) for a total purchase price of $60,000 from Deutsche Bank pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On July 27, 2005, Colonial Strategic Income Fund, Variable Series (Fund) purchased 35,000 par value of common stock notes of Sungard Data Systems Inc. 10.25% 15 (Securities) for a total purchase price of $35,000 from Deutsche Bank pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On July 28, 2005, Colonial Strategic Income Fund, Variable Series (Fund) purchased 35,000 par value of common stock notes of FTI Consulting 7.625% 13 (Securities) for a total purchase price of $35,000 from Goldman Sachs pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On August 11, 2005, Colonial Strategic Income Fund, Variable Series (Fund) purchased 50,000 par value of common stock notes of Ahern Rentals Inc. 9.25% 13 (Securities) for a total purchase price of $50,000 from CIBC pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On August 16, 2005, Colonial Strategic Income Fund, Variable Series (Fund) purchased 130,000 par value of common stock notes of Columbus McKinnon Corp 8.875% 13 (Securities) for a total purchase price of $130,000 from Credit Suisse pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On September 8, 2005, Colonial Strategic Income Fund, Variable Series (Fund) purchased 55,000 par value of common stock notes of Amerisource Bergen Corp. 5.875% 15 (Securities) for a total purchase price of $54,725 from Lehman pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On September 8, 2005, Colonial Strategic Income Fund, Variable Series (Fund) purchased 55,000 par value of common stock notes of Amerisource Bergen Corp. 5.625% 12 (Securities) for a total purchase price of $54,725 from Lehman pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On September 8, 2005, Colonial Strategic Income Fund, Variable Series (Fund) purchased 55,000 par value of common stock notes of Williams Cos. 6.375% 10 (Securities) for a total purchase price of $55,000 from Citigroup Global Markets/Salomon Brothers pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On September 15, 2005, Colonial Strategic Income Fund, Variable Series (Fund) purchased 55,000 par value of common stock notes of Pacific Energy Part/Fina 6.25% 15 (Securities) for a total purchase price of $54,749.20 from Lehman pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On September 20, 2005, Colonial Strategic Income Fund, Variable Series (Fund) purchased 105,000 par value of common stock notes of Williams Scotsman 8.5% 15 (Securities) for a total purchase price of $105,000 from Deutsche Bank pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On September 23, 2005, Colonial Strategic Income Fund, Variable Series (Fund) purchased 55,000 par value of common stock notes of Lin Television Corp. (Securities) for a total purchase price of $50,730.90 from Chase Securities pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On September 28, 2005, Colonial Strategic Income Fund, Variable Series (Fund) purchased 55,000 par value of common stock notes of Whiting Petroleum Corp. 7% 14 (Securities) for a total purchase price of $55,000 from Merrill Lynch pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On November 8, 2005, Colonial Strategic Income Fund, Variable Series (Fund) purchased 210,000 par value of common stock notes of Crown Americas Inc. 7.75% 15 (Securities) for a total purchase price of $210,000 from Citigroup Global Markets/Salomon Brothers pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On December 8, 2005, Colonial Strategic Income Fund, Variable Series (Fund) purchased 50,000 par value of common stock notes of CMS Energy Corp. 6.875% 12/15/05 (Securities) for a total purchase price of $50,000 from Citigroup Global Markets/Salomon Brothers pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On December 15, 2005, Colonial Strategic Income Fund, Variable Series (Fund) purchased 70,000 par value of common stock notes of Atlas Pipeline 8.125% 12/15/15 (Securities) for a total purchase price of $70,000 from Wachovia Capital Markets, LLC pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey Liberty Growth & Income Fund, Variable Series On December 6, 2005, Liberty Growth & Income Fund, Variable Series (Fund) purchased 11,369 par value of common stock notes of XL Capital LTD. Common (Securities) for a total purchase price of $738,985 from Citigroup Global Markets/Salomon Brothers pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On December 6, 2005, Liberty Growth & Income Fund, Variable Series (Fund) purchased 19,473 par value of common stock notes of XL Capital LTD. Conv Pref (Securities) for a total purchase price of $486,825 from Citigroup Global Markets/Salomon Brothers pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey Columbia High Yield Fund, Variable Series On July 27, 2005, Columbia High Yield Fund, Variable Series (Fund) purchased 850,000 par value of common stock notes of L-3 Communications Corp (Securities) for a total purchase price of $842,265 from Lehman Brothers pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On July 27, 2005, Columbia High Yield Fund, Variable Series (Fund) purchased 150,000 par value of common stock notes of Sungard Data Systems Inc. 9.125% 13 (Securities) for a total purchase price of $150,000 from Deutsche Bank pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On July 28, 2005, Columbia High Yield Fund, Variable Series (Fund) purchased 275,000 par value of common stock notes of FTI Consulting 7.625% 13 (Securities) for a total purchase price of $275,000 from Goldman Sachs pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On September 8, 2005, Columbia High Yield Fund, Variable Series (Fund) purchased 750,000 par value of common stock notes of Amerisource Bergen Corp. 5.625% 12 (Securities) for a total purchase price of $746,250 from Lehman Brothers pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On November 8, 2005, Columbia High Yield Fund, Variable Series (Fund) purchased 550,000 par value of common stock notes of Crown Americas Inc. 7.75% 15 (Securities) for a total purchase price of $550,000 from Citigroup Global Markets/Salomon Brothers pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On December 8, 2005, Columbia High Yield Fund, Variable Series (Fund) purchased 150,000 par value of common stock notes of CMS Energy Corp. 6.875% 12/15/05 (Securities) for a total purchase price of $150,000 from Citigroup Global Markets/Salomon Brothers pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey On December 15, 2005, Columbia High Yield Fund, Variable Series (Fund) purchased 180,000 par value of common stock notes of Atlas Pipeline 8.125% 12/15/15 (Securities) for a total purchase price of $180,000 from Wachovia Capital Markets, LLC pursuant to a public offering in which Banc of America Securities acted as a participating underwriter. Banc of America Securities 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, LLC 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 Banc of America Securities, the following is a list of members of the underwriting syndicate for the aforementioned Securities: Goldman Sachs & Co.; Morgan Stanley; UBS: Bear Stearns & Co, Inc.: Credit Suisse First Boston Corp.; Deutsche Bank Securities Inc.; Stephens Inc.; Citigroup; SG Corporate & Investment Banking; Calyon Securities USA Inc.; Commerzbank AG; Key Capital Markets Inc.; RBS Greenwich Capital; Wells Fargo Securities; JP Morgan Securities; Wachovia Securities Inc.; BNP Paribas; Scotia Capital Inc.; Comerica Securities; Firtis Invesement Services; Harris Nesbitt; Hibernia Southcoast Capital; Keybanc Capital Markets; Allen & Co; Blaylock & Partners; Merrill Lynch & Co; Suntrust Robinson Humphrey -----END PRIVACY-ENHANCED MESSAGE-----