Columbia High Yield Opportunity Fund
Columbia Strategic Income Fund (Funds)
77E Legal Proceedings

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 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 management fees for certain Columbia Funds (including
the former Nations Funds) and other mutual funds 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
approved by the SEC. The independent distribution consultant has been in
consultation with the staff of the SEC and has submitted a proposed plan of
distribution. The SEC has released the proposed plan of distribution for public
notice and comment but has not yet approved a final 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 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 March 1, 2006, for reasons stated in the court's
memoranda dated November 3, 2005, the U.S. District Court for the District of
Maryland granted in part and denied in part the defendants' motions to dismiss.
The court dismissed all of the class action claims pending against the Columbia
Funds Trusts. As to Columbia and the Distributor, 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 were dismissed.
The claims under Sections 10(b) and 20(a) of the Securities Exchange Act of
1934 and claims under Section 36(b) of the ICA were not dismissed.

On March 21, 2005, a purported class action was filed 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.

On April 4, 2006, the plaintiffs and the Columbia defendants named in the MDL,
including the Columbia Funds, entered into a term sheet containing the principal
terms of a stipulation of settlement that would settle all Columbia-related
claims in the MDL described above, including the CDSC Lawsuit. On April 6, 2006,
the U.S. District Court for the District of Maryland stayed all actions with
respect to these Columbia-related claims.

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 purposes. 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 naming the Columbia Funds as nominal defendants. 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 to the United States
Court of Appeals for the First Circuit on December 30, 2005; this appeal is
currently pending. The parties have advised the appellate court that they are
engaged in settlement discussions and the court has, accordingly, deferred the
briefing schedule for the appeal. The settlement has not yet been finalized. Any
settlement ultimately agreed by the parties will be subject to court approval.

This matter is ongoing. Accordingly, no estimate can be made of the financial
impact, if any, of this litigation on any fund.




COLUMBIA HIGH YIELD OPPORTUNITY FUND

On July 26, 2006 Columbia High Yield Opportunity Fund (Fund) purchased
305,000 par value of bonds of Verso Paper 9.125% 08/01/14 (Securities)
for a Total purchase price of $305,000 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. (Advisor) o 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: Credit Suisse; Lehman
Brothers; ABN Amro; Banc of America Securities LLC; CitiGroup; Fifth Third
Securities Inc.


On July 26, 2006 Columbia High Yield Opportunity Fund  (Fund) purchased
205,000 par value of bonds of Verso Paper Holdings LLC FRN (Securities)
for a Total purchase price of $205,000 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. (Advisor) o 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: Credit Suisse; Lehman
Brothers; ABN Amro; Banc of America Securities LLC; CitiGroup; Fifth Third
Securities Inc.


On August 1, 2006 Columbia High Yield Opportunity Fund  (Fund) purchased
730,000 par value of bonds of Ashtead Capital 9.00% 8/15/16 (Securities)
for a Total purchase price of $730,000 from CitiGroup 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. (Advisor) o 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: Citigroup; Deutsche
Bank Securities, Inc.; UBS Securities LLC; Bank of America Securities LLC


On August 10, 2006 Columbia High Yield Opportunity Fund  (Fund) purchased
10,600,000 par value of bonds of Constellation Brands 7.25% 9/1/16 (Securities)
for a Total purchase price of $10,496,120 from CitiGroup 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. (Advisor) o 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:Citgroup; JP Morgan;
Scotia Capital Inc.




On September 15, 2006 Columbia High Yield Opportunity Fund  (Fund) purchased
1,015,000 par value of notes of Lyondell Chemical 8.00% 9/15/14 (Securities) for
a Total purchase price of $1,015,000 from JP Morgan 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. (Advisor) o 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: Citigroup; JP Morgan;
Morgan Stanley; BNY Capital Markets; Deutsche Bank Securities Inc.; HVB Capital
Markets Inc./New York; Natexis Belichroeder Inc.; Scotia Capital Inc.; Societe
Generale; UBS Securities LLC; Wachovia Securities, Inc.


On September 15, 2006 Columbia High Yield Opportunity Fund (Fund) purchased
720,000 par value of notes of Lyondell Chemical 8.25% 9/15/16 (Securities) for
a Total purchase price of $720,000 from JP Morgan 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. (Advisor) o 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: Citigroup; JP Morgan;
Morgan Stanley; BNY Capital Markets; Deutsche Bank Securities Inc.; HVB Capital
Markets Inc./New York; Natexis Belichroeder Inc.; Scotia Capital Inc.; Societe
Generale; UBS Securities LLC; Wachovia Securities, Inc.



On September 27, 2006 Colonial High Yield Opportunity Fund Fund (Fund) purchased
135,000 par value of bonds of Service Corp 7.375% 10/01/14 (Securities) for a
Total purchase price of $135,000 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. (Advisor) o 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: JP Morgan; Merrill
Lynch & Co.; Banc of America Securities LLC; Lehman Brothers; Morgan Keegan &
Co.; Raymond James &  Associates Inc.



The Fund's advisor, Columbia Management Advisors, LLC. (Advisor) o 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;


On September 27, 2006 Columbia High Yield Opportunity Fund (Fund) purchased
105,000 par value of bonds of Service Corp 7.625% 10/01/18 (Securities) for a
Total purchase price of $105,000 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. (Advisor) o 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: JP Morgan; Merrill
Lynch & Co.; Banc of America Securities LLC; Lehman Brothers; Morgan Keegan &
Co.; Raymond James &  Associates Inc.



On October 5, 2006 Columbia High Yield Opportunity Fund (Fund) purchased
735,000 par value of bonds of Peabody Energy Corp 7.375% 11/01/2016 (Securities)
for a Total purchase price of $735,000 from Morgan Stanley 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. (Advisor) o 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: Lehman Brothers;
Morgan Stanley; ABN Amro; Banc of America Securities LLC; BMO Capital Markets;
BNP Paribas Securities Corp; Calyon Securities USA Inc.; Citigroup; Credit
Suisse; Greenwich Capital Markets; HSBC Securities; PNC Capital Corp; Wells
Fargo Securities


On October 5, 2006 Columbia High Yield Opportunity Fund(Fund) purchased
1,545,000 par value of bonds of NXP BV 9.5% 10/15/2015 (Securities)
for a Total purchase price of $1,545,000 from Morgan Stanley 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. (Advisor) o 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: Deutsche Bank;
Merrill Lynch International Ltd; Morgan Stanley & Co. International; ABN Amro;
Bank of America; HSBC Bank PLC; Mizuho International PLC; BNP Paribas Group;
Rabobank International



On October 16, 2006 Columbia High Yield Opportunity Fund (Fund) purchased
495,000 par value of bonds of West Corp 11.00% 10/15/2016 (Securities)
for a Total purchase price of $495,000 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. (Advisor) o 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: Bank of America
Securities LLC; Deutsche Bank Securities, Inc.; Lehman Brothers




On October 18, 2006 Columbia High Yield Opportunity Fund (Fund) purchased
1,095,000 par value of bonds of Cricket Communications I 9.375% 11/1/2014
(Securities)for a Total purchase price of $1,095,000 from CitiGroup 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. (Advisor) o 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: Bank of America
Securities LLC; Deutsche Bank Securities, Inc.; CitiGroup; Goldman Sachs & Co.;
Morgan Stanley



On October 25, 2006 Columbia High Yield Opportunity Fund (Fund) purchased
1,470,000 par value of bonds of Michael Stores Inc 11.375 (Securities)for a
Total purchase price of $1,470,000 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. (Advisor) o 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: Bank of America
Securities LLC; Deutsche Bank Securities, Inc.; Credit Suisse; JP Morgan




On October 26, 2006 Columbia High Yield Opportunity Fund (Fund) purchased
1,765,000 par value of bonds of MetroPCS Wireless Inc. 9.25% (Securities)for a
Total purchase price of $1,765,000 from Bear Stearns 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. (Advisor) o 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: Bank of America
Securities LLC; Bear Stearns & Co. Inc.; Merrill Lynch



On November 1, 2006 Columbia High Yield Opportunity Fund (Fund) purchased
1,765,000 par value of bonds of IDEARC Inc. 8.00% (Securities)for a Total
purchase price of $3,015,000 from JP Morgan 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. (Advisor) o 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: Bear Stearns & Co
Inc.; JP Morgan; Banc of America Securities LLC; Barclays Capital; CitiGroup;
ABN Amro; Credit Suisse; Goldman Sachs & Co.; Greenwich Capital Markets Inc.;
Lehman Brothers; Merrill Lynch Pierce Fenner & Smith; Mistsubishi UFJ Securities
Internat; Morgan Stanley; RBC Capital Markets; UBS Securities; Wachovia
Securities Inc.





On November 9, 2006 Columbia High Yield Opportunity Fund (Fund) purchased
3,110,000 par value of bonds of HCA Inc. 9.25% (Securities)for a Total purchase
price of $3,110,000 from CitiGroup 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. (Advisor) o 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: Inc.; JP Morgan;
Banc of America Securities LLC; Barclays Capital; CitiGroup;
ABN Amro; Goldman Sachs & Co.; Greenwich Capital Markets Inc.;
L Merrill Lynch; Deutsche Bank Securities Inc.; JP Morgan; Merrill Lynch;
Wachovia Securities; BNP Paribas; Calyon New York; GE Capital Markets Inc.;
HVB Capital Markets Inc./New York; ING Financial Markets; Mizuho International
PLC



On November 9, 2006 Columbia High Yield Opportunity Fund (Fund) purchased
1,545,000 par value of bonds of HCA Inc. 9.625% (Securities)for a  Total
purchase price of $1,555,000 from CitiGroup 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. (Advisor) o 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: Inc.; JP Morgan;
Banc of America Securities LLC; Barclays Capital; CitiGroup;
ABN Amro; Goldman Sachs & Co.; Greenwich Capital Markets Inc.;
L Merrill Lynch; Deutsche Bank Securities Inc.; JP Morgan; Merrill Lynch;
Wachovia Securities; BNP Paribas; Calyon New York; GE Capital Markets Inc.;
HVB Capital Markets Inc./New York; ING Financial Markets; Mizuho International
PLC


On November 9, 2006 Columbia High Yield Opprotunity Fund (Fund) purchased
3,110,000 par value of bonds of HCA Inc. 9.25% (Securities)for a Total purchase
price of $3,110,000 from CitiGroup 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. (Advisor) o 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: Inc.; JP Morgan;
Banc of America Securities LLC; Barclays Capital; CitiGroup;
ABN Amro; Goldman Sachs & Co.; Greenwich Capital Markets Inc.;
L Merrill Lynch; Deutsche Bank Securities Inc.; JP Morgan; Merrill Lynch;
Wachovia Securities; BNP Paribas; Calyon New York; GE Capital Markets Inc.;
HVB Capital Markets Inc./New York; ING Financial Markets; Mizuho International
PLC



On November 9, 2006 Columbia High Yield Opportunity Fund (Fund) purchased
1,545,000 par value of bonds of HCA Inc. 9.625% (Securities)for a Total
purchase price of $1,555,000 from CitiGroup 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. (Advisor) o 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: Inc.; JP Morgan;
Banc of America Securities LLC; Barclays Capital; CitiGroup;
ABN Amro; Goldman Sachs & Co.; Greenwich Capital Markets Inc.;
L Merrill Lynch; Deutsche Bank Securities Inc.; JP Morgan; Merrill Lynch;
Wachovia Securities; BNP Paribas; Calyon New York; GE Capital Markets Inc.;
HVB Capital Markets Inc./New York; ING Financial Markets; Mizuho International
PLC


On November 30, 2006 Columbia High Yield Opportunity Fund (Fund) purchased
580,000 par value of bonds of United Auto Group (Securities)for a Total
purchase price of $580,000 from JP Morgan 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. (Advisor) o 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: Inc.; JP Morgan;
Banc of America Securities LLC; Merrill Lynch; Wachovia Securities




COLUMBIA STRATEGIC INCOME FUND


On July 26, 2006 Columbia Strategic Income Fund (Fund) purchased
445,000 par value of bonds of Verso Paper 9.125% 08/01/14 (Securities)
for a Total purchase price of $445,000 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. (Advisor) o 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: Credit Suisse; Lehman
Brothers; ABN Amro; Banc of America Securities LLC; CitiGroup; Fifth Third
Securities Inc.


On July 26, 2006 Columbia Strategic Income Fund  (Fund) purchased
295,000 par value of bonds of Verso Paper Holdings LLC FRN (Securities)
for a Total purchase price of $295,000 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. (Advisor) o 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: Credit Suisse; Lehman
Brothers; ABN Amro; Banc of America Securities LLC; CitiGroup; Fifth Third
Securities Inc.


On August 1, 2006 Columbia Strategic Income Fund (Fund) purchased
1,115,000 par value of bonds of Ashtead Capital 9.00% 8/15/16 (Securities)
for a Total purchase price of $1,115,000 from CitiGroup 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. (Advisor) o 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: Citigroup; Deutsche
Bank Securities, Inc.; UBS Securities LLC; Bank of America Securities LLC


On August 10, 2006 Columbia Strategic Income Fund  (Fund) purchased
1,170,000 par value of bonds of Constellation Brands 7.25% 9/1/16 (Securities)
for a Total purchase price of $1,158,534 from CitiGroup 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. (Advisor) o 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:Citgroup; JP Morgan;
Scotia Capital Inc.




On September 15, 2006 Columbia Strategic Income Fund  (Fund) purchased 1,455,000
par value of notes of Lyondell Chemical 8.00% 9/15/14 (Securities) for a Total
purchase price of $1,455,000 from JP Morgan 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. (Advisor) o 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: Citigroup; JP Morgan;
Morgan Stanley; BNY Capital Markets; Deutsche Bank Securities Inc.; HVB Capital
Markets Inc./New York; Natexis Belichroeder Inc.; Scotia Capital Inc.; Societe
Generale; UBS Securities LLC; Wachovia Securities, Inc.


On September 15, 2006 Columbia Strategic Income Fund (Fund) purchased 1,025,000
par value of notes of Lyondell Chemical 8.25% 9/15/16 (Securities) for a Total
purchase price of $1,025,000 from JP Morgan 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. (Advisor) o 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: Citigroup; JP Morgan;
Morgan Stanley; BNY Capital Markets; Deutsche Bank Securities Inc.; HVB Capital
Markets Inc./New York; Natexis Belichroeder Inc.; Scotia Capital Inc.; Societe
Generale; UBS Securities LLC; Wachovia Securities, Inc.



On September 27, 2006 Columbia Strategic Income Fund (Fund) purchased
290,000 par value of bonds of Service Corp 7.375% 10/01/14 (Securities) for a
Total purchase price of $290,000 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. (Advisor) o 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: JP Morgan; Merrill
Lynch & Co.; Banc of America Securities LLC; Lehman Brothers; Morgan Keegan &
Co.; Raymond James &  Associates Inc.




On September 27, 2006 Columbia Strategic Income Fund (Fund) purchased
215,000 par value of bonds of Service Corp 7.625% 10/01/18 (Securities) for a
Total purchase price of $215,000 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. (Advisor) o 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: JP Morgan; Merrill
Lynch & Co.; Banc of America Securities LLC; Lehman Brothers; Morgan Keegan &
Co.; Raymond James &  Associates Inc.



On October 5, 2006 Columbia Strategic Income Fund (Fund) purchased 1,060,000
par value of bonds of Peabody Energy Corp 7.375% 11/01/2016 (Securities)
for a Total purchase price of $1,060,000 from Morgan Stanley 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. (Advisor) o 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: Lehman Brothers;
Morgan Stanley; ABN Amro; Banc of America Securities LLC; BMO Capital Markets;
BNP Paribas Securities Corp; Calyon Securities USA Inc.; Citigroup; Credit
Suisse; Greenwich Capital Markets; HSBC Securities; PNC Capital Corp; Wells
Fargo Securities



On October 5, 2006 Columbia Strategic Income Fund (Fund) purchased
2,240,000 par value of bonds of NXP BV 9.5% 10/15/2015 (Securities)
for a Total purchase price of $2,240,000 from Morgan Stanley 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. (Advisor) o 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: Deutsche Bank;
Merrill Lynch International Ltd; Morgan Stanley & Co. International; ABN Amro;
Bank of America; HSBC Bank PLC; Mizuho International PLC; BNP Paribas Group;
Rabobank International



On October 16, 2006 Columbia Strategic Income Fund (Fund) purchased
645,000 par value of bonds of West Corp 11.00% 10/15/2016 (Securities)
for a Total purchase price of $645,000 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. (Advisor) o 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: Bank of America
Securities LLC; Deutsche Bank Securities, Inc.; Lehman Brothers



On October 18, 2006 Columbia Strategic Income (Fund) purchased
1,585,000 par value of bonds of Cricket Communications I 9.375% 11/1/2014
(Securities)for a Total purchase price of $1,585,000 from CitiGroup 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. (Advisor) o 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: Bank of America
Securities LLC; Deutsche Bank Securities, Inc.; CitiGroup; Goldman Sachs & Co.;
Morgan Stanley



On October 25, 2006 Columbia Strategic Income (Fund) purchased
1,925,000 par value of bonds of Michael Stores Inc 11.375 (Securities)for a
Total purchase price of $1,925,000 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. (Advisor) o 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: Bank of America
Securities LLC; Deutsche Bank Securities, Inc.; Credit Suisse; JP Morgan



On October 26, 2006 Columbia Strategic Income (Fund) purchased
2,310,000 par value of bonds of MetroPCS Wireless Inc. 9.25% (Securities)for a
Total purchase price of $2,310,000 from Bear Stearns 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. (Advisor) o 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: Bank of America
Securities LLC; Bear Stearns & Co. Inc.; Merrill Lynch


On November 1, 2006 Columbia Strategic Income Fund (Fund) purchased
4,390,000 par value of bonds of IDEARC Inc. 8.00% (Securities)for a Total
purchase price of $4,390,000 from JP Morgan 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. (Advisor) o 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: Bear Stearns & Co
Inc.; JP Morgan; Banc of America Securities LLC; Barclays Capital; CitiGroup;
ABN Amro; Credit Suisse; Goldman Sachs & Co.; Greenwich Capital Markets Inc.;
Lehman Brothers; Merrill Lynch Pierce Fenner & Smith; Mistsubishi UFJ Securities
Internat; Morgan Stanley; RBC Capital Markets; UBS Securities; Wachovia
Securities Inc.


On November 9, 2006 Columbia Strategic Income Fund (Fund) purchased
4,525,000 par value of bonds of HCA Inc. 9.25% (Securities)for a Total purchase
price of $4,525,000 from CitiGroup 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. (Advisor) o 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: Inc.; JP Morgan;
Banc of America Securities LLC; Barclays Capital; CitiGroup;
ABN Amro; Goldman Sachs & Co.; Greenwich Capital Markets Inc.;
L Merrill Lynch; Deutsche Bank Securities Inc.; JP Morgan; Merrill Lynch;
Wachovia Securities; BNP Paribas; Calyon New York; GE Capital Markets Inc.;
HVB Capital Markets Inc./New York; ING Financial Markets; Mizuho International
PLC



On November 9, 2006 Columbia Strategic Income Fund (Fund) purchased
2,240,000 par value of bonds of HCA Inc. 9.625% (Securities)for a Total
purchase price of $2,260,000 from CitiGroup 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. (Advisor) o 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: Inc.; JP Morgan;
Banc of America Securities LLC; Barclays Capital; CitiGroup;
ABN Amro; Goldman Sachs & Co.; Greenwich Capital Markets Inc.;
L Merrill Lynch; Deutsche Bank Securities Inc.; JP Morgan; Merrill Lynch;
Wachovia Securities; BNP Paribas; Calyon New York; GE Capital Markets Inc.;
HVB Capital Markets Inc./New York; ING Financial Markets; Mizuho International
PLC



On November 30, 2006 Columbia Strategic Income Fund (Fund) purchased
765,000 par value of bonds of United Auto Group (Securities)for a Total
purchase price of $765,000 from JP Morgan 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. (Advisor) o 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: Inc.; JP Morgan;
Banc of America Securities LLC; Merrill Lynch; Wachovia Securities




77Q1 Exhibits
Management Agreements herein incorporated by reference to Accession
Numbers 0000773757-06-000196 and 0000950135-05-005435.