BELL, BOYD & LLOYD LLC
--------------------------------------------------------------------------------
             70 West Madison Street, Suite 3100 o Chicago, Illinois
                                   60602-4207
                         312.372.1121 o Fax 312.827.8000


                                 April 20, 2006



         As counsel for Wanger Advisors Trust (the "Registrant"), we consent to
the incorporation by reference of our opinion for the Registrant's series
designated Wanger U.S. Smaller Companies (formerly named Wanger U.S. Small Cap)
and Wanger International Small Cap dated April 27, 1998, filed with the
Registrant's registration statement on Form N-1A on April 29, 1998, and our
opinion for the Registrant's series designated Wanger Select (formerly named
Wanger Twenty) and Wanger International Select (formerly named Wanger Foreign
Forty) dated September 30, 1998, filed with the Registrant's registration
statement on Form N-1A on September 30, 1998 (Securities Act file no. 33-83548).

         In giving this consent we do not admit that we are in the category of
persons whose consent is required under Section 7 of the Securities Act of 1933.



                                                          BELL, BOYD & LLOYD LLC



--------------------------------------------------------------------------------
                       c h i c a g o   o   w a s h i n g t o n