77O Transactions effected pursuant to Rule 10f-3

On May 3, 2004, Colonial Investment Grade Municipal Trust (Fund) purchased
300,000 par value of bonds of Puerto Rico Public Improvement  5.00% 7/1/30
(Securities) for a total purchase price of $316,353 from Goldman, Sachs & Co.
pursuant to a public offering in which Bank of America Securities acted as a
participating underwriter. Bank 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, Inc. believed that
         the gross underwriting spread associated with the purchase of the
         Securities was reasonable and fair compared to the spreads in
         connection with similar underwritings of similar securities being sold
         during a comparable period of time;

o        The Securities were offered pursuant to an underwriting or similar
         agreement under which the underwriters were committed to purchase all
         of the Securities being offered;

o       The issuer of the Securities has been in continuous operation for at
        least three years;

o       The amount of Securities purchased did not exceed 25% of the amount
        of the offering;

o       The Securities were to be purchased at not more than the public offering
        price no later than the first day of the offering.

Along with Quick & Reilly, Inc., the following is a list of members of the
underwriting syndicate for the aforementioned Securities: Citigroup Global
Markets, Inc. Banc of America Securities LLC; Lehman Brothers; UBS Financial
Services, Inc.; J.P. Morgan Securities, Inc.; Merrill Lynch & Co.;
Morgan Stanley; Ramirez & Co., Inc.; Raymond James & Associates; Wachovia Bank,
National Association.