SCHEDULE 14A
(Rule 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section
14(a) of the Securities Exchange Act of 1934
Filed by the Registrant [ X ]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ X ] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Sec. 240.14a-11(c) or Sec. 240.14a-12
[ ] Confidential, For Use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
COLONIAL CALIFORNIA INSURED MUNICIPAL FUND
COLONIAL HIGH INCOME MUNICIPAL TRUST
COLONIAL INSURED MUNICIPAL FUND
COLONIAL INTERMEDIATE HIGH INCOME FUND
COLONIAL INTERMARKET INCOME TRUST I
COLONIAL INVESTMENT GRADE MUNICIPAL TRUST
COLONIAL MUNICIPAL INCOME TRUST
COLONIAL NEW YORK INSURED MUNICIPAL FUND
________________________________________________
(Name of Registrant as Specified In Its Charter)
Payment of Filing Fee (Check the appropriate box):
[ X ] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
1) Title of each class of securities to which transaction applies:
2) Aggregate number of securities to which transaction applies:
3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which
the filing fee is calculated and state how it was determined):
4) Proposed maximum aggregate value of transaction:
5) Total fee paid:
[ ] Fee paid previously with preliminary materials:
[ ] Check box if any part of the fee is offset as provided by Exchange
Act Rule 0-11(a)(2) and identify the filing for which the offsetting
fee was paid previously. Identify the previous filing by
registration statement number, or the form or schedule and the date
of its filing.
1) Amount Previously Paid:
2) Form, Schedule or Registration Statement No.:
3) Filing Party:
4) Date Filed:
As of December 31, 2002, no disinterested Trustee or any of their immediate
family members owned beneficially or of record any class of securities of
FleetBoston Financial, Columbia, another investment advisor, sub-advisor or
portfolio manager of any of the Funds in the Liberty Funds, the All-Star
Funds, the Columbia Funds, or any person controlling, controlled by or under
common control with any such entity.
COLONIAL CALIFORNIA INSURED MUNICIPAL FUND
COLONIAL HIGH INCOME MUNICIPAL TRUST
COLONIAL INSURED MUNICIPAL FUND
COLONIAL INTERMARKET INCOME TRUST I
COLONIAL INTERMEDIATE HIGH INCOME FUND
COLONIAL INVESTMENT GRADE MUNICIPAL TRUST
COLONIAL MUNICIPAL INCOME TRUST
COLONIAL NEW YORK INSURED MUNICIPAL FUND
(EACH, A "FUND"; COLLECTIVELY, THE "FUNDS")
ONE FINANCIAL CENTER, BOSTON, MASSACHUSETTS 02111-2621
(617) 426-3750
NOTICE OF ANNUAL MEETINGS OF SHAREHOLDERS
MAY 21, 2003
DEAR SHAREHOLDER:
NOTICE IS HEREBY GIVEN that the 2003 Annual Meeting of Shareholders of the Funds
(the "Meeting") will be at One Financial Center, Boston, Massachusetts, on
May 21, 2003, at 10:00 a.m. Eastern time. The purpose of the Meeting is to
consider and act upon the following matters:
1. To elect Trustees of the Funds as outlined below:
(a) Colonial High Income Municipal Trust:
(i) Three Trustees to be elected by the holders of common shares of
beneficial interest, no par value (the "Common Shares") and
Municipal Auction Rate Cumulative Preferred Shares (the "Preferred
Shares") of the Fund, voting together as a single class; and
(ii) Two Trustees to be elected by the holders of Preferred Shares only,
voting as a single class.
(b) Colonial Investment Grade Municipal Trust:
(i) Two Trustees to be elected by the holders of Common Shares and
Preferred Shares of the Fund, voting together as a single class; and
(ii) Two Trustees to be elected by the holders of Preferred Shares only,
voting as a single class.
(c) Colonial InterMarket Income Trust I: Three Trustees to be elected by the
holders of shares of beneficial interest of the Fund.
G-60/762N-0403
(d) Colonial California Insured Municipal Fund:
(i) Three Trustees to be elected by the holders of Common Shares and
Preferred Shares of the Fund, voting together as a single class; and
(ii) Two Trustees to be elected by the holders of Preferred Shares only,
voting as a single class.
(e) Colonial Insured Municipal Fund:
(i) Three Trustees to be elected by the holders of Common Shares and
Preferred Shares of the Fund, voting together as a single class; and
(ii) Two Trustees to be elected by the holders of Preferred Shares only,
voting as a single class.
(f) Colonial New York Insured Municipal Fund:
(i) Three Trustees to be elected by the holders of Common Shares and
Preferred Shares of the Fund, voting together as a single class; and
(ii) Two Trustees to be elected by the holders of Preferred Shares only,
voting as a single class.
(g) Colonial Municipal Income Trust:
(i) Two Trustees to be elected by the holders of Common Shares and
Preferred Shares of the Fund, voting together as a single class; and
(ii) Two Trustees to be elected by the holders of Preferred Shares only,
voting as a single class.
(h) Colonial Intermediate High Income Fund: Four Trustees to be elected by
the holders of shares of beneficial interest of the Fund.
2. To transact such other business as may properly come before the Meeting and
any adjourned session of the Meeting.
Shareholders of record at the close of business on February 28, 2003 are
entitled to notice of, and to vote at, the Meeting and any adjourned session.
YOUR BOARD OF TRUSTEES RECOMMENDS THAT YOU VOTE FOR THE PROPOSALS.
By order of the Board of Trustees,
Jean S. Loewenberg
Secretary of the Funds
PLEASE RESPOND. YOUR VOTE IS IMPORTANT REGARDLESS OF THE NUMBER OF SHARES YOU
OWN. YOU CAN VOTE EASILY AND QUICKLY BY MAIL OR IN PERSON.
April 21, 2003
PROXY STATEMENT
COLONIAL CALIFORNIA INSURED MUNICIPAL FUND (CCAIMF)
COLONIAL HIGH INCOME MUNICIPAL TRUST (CHIMT)
COLONIAL INSURED MUNICIPAL FUND (CIMF)
COLONIAL INTERMARKET INCOME TRUST I (CIITI)
COLONIAL INTERMEDIATE HIGH INCOME FUND (CIHIF)
COLONIAL INVESTMENT GRADE MUNICIPAL TRUST (CIGMT)
COLONIAL MUNICIPAL INCOME TRUST (CMIT)
COLONIAL NEW YORK INSURED MUNICIPAL FUND (CNYIMF)
(EACH, A "FUND"; COLLECTIVELY, THE "FUNDS")
ONE FINANCIAL CENTER, BOSTON, MASSACHUSETTS 02111-2621
(617) 426-3750
ANNUAL MEETINGS OF SHAREHOLDERS
MAY 21, 2003
This Proxy Statement is furnished in connection with the solicitation of proxies
on behalf of the Boards of Trustees of the Funds to be used at the Annual
Meetings of Shareholders of the Funds to be held on May 21, 2003, at 10:00 a.m.
Eastern time at the offices of the Funds, One Financial Center, Boston,
Massachusetts, and at any adjournments thereof (such meetings and any
adjournments being referred to as the "Meeting").
The solicitation of proxies for use at the Meeting is being made primarily by
the mailing on or about April 25, 2003, of this Proxy Statement and the
accompanying proxy cards. Supplementary solicitations may be made by mail,
telephone, or personal interview by officers and Trustees of the Funds and
officers and employees of the Funds' investment advisor, Columbia Management
Advisers, Inc. ("Columbia") and its affiliates. Authorization to execute proxies
may be obtained from shareholders through instructions transmitted by telephone
or facsimile. The expenses incurred in connection with preparing this Proxy
Statement and soliciting proxies for the Meeting will be paid by the Funds. The
Funds will reimburse brokerage firms and others for their expenses in forwarding
solicitation material to the beneficial owners of shares.
The Meeting is being held to vote on the matters described below.
1
PROPOSAL 1. ELECTION OF TRUSTEES
1.(A) COLONIAL HIGH INCOME MUNICIPAL TRUST
Msses. Kelly and Verville and Mr. Palombo (who have each agreed to serve) are
proposed for election as Trustees of the Fund and are to be elected by the
holders of Common Shares and Preferred Shares, voting together as a single
class. Each will serve for three years or until a successor is elected.
Messrs. Hacker and Stitzel (who have each agreed to serve) are proposed for
election as Trustees of the Fund and are to be elected by the holders of
Preferred Shares only, voting as a single class.
The Board of Trustees (other than Messrs. Hacker and Stitzel) is divided into
the following three classes, each with a term expiring in the year indicated
(assuming the persons listed above are elected at the Meeting):
2004 2005 2006
---- ---- ----
Mr. Mayer Mr. Lowry Ms. Kelly
Mr. Nelson Mr. Neuhauser Mr. Palombo
Mr. Theobald Ms. Verville
Messrs. Hacker and Stitzel are subject to re-election annually by the holders of
Preferred Shares of the Fund.
REQUIRED VOTE
With respect to Msses. Kelly and Verville and Mr. Palombo, the affirmative vote
of a plurality of the holders of Common Shares and Preferred Shares, voting
together as a single class, present at the Meeting in person or by proxy, is
required for the election of each such Trustee. With respect to the election of
Messrs. Hacker and Stitzel, the affirmative vote of a plurality of the holders
of Preferred Shares, present at the Meeting in person or by proxy, is required
for the election of each such Trustee.
1.(B) COLONIAL INVESTMENT GRADE MUNICIPAL TRUST
Ms. Kelly and Mr. Palombo (who have each agreed to serve) are proposed for
election as Trustees of the Fund and are to be elected by the holders of Common
Shares and Preferred Shares, voting together as a single class. Each will serve
for three years or until a successor is elected. Messrs. Hacker and Stitzel (who
have each agreed to serve) are proposed for election as Trustees of the Fund and
are to be elected by the holders of Preferred Shares only, voting as a single
class.
2
The Board of Trustees (other than Messrs. Hacker and Stitzel) is divided into
the following three classes, each with a term expiring in the year indicated
(assuming the persons listed above are elected at the Meeting):
2004 2005 2006
---- ---- ----
Mr. Mayer Mr. Lowry Ms. Kelly
Mr. Neuhauser Mr. Nelson Mr. Palombo
Mr. Theobald Ms. Verville
Messrs. Hacker and Stitzel are subject to re-election annually by the holders of
Preferred Shares of the Fund.
REQUIRED VOTE
With respect to Ms. Kelly and Mr. Palombo, the affirmative vote of a plurality
of the holders of Common Shares and Preferred Shares, voting together as a
single class, present at the Meeting in person or by proxy, is required for the
election of each such Trustee. With respect to the election of Messrs. Hacker
and Stitzel, the affirmative vote of a plurality of the holders of Preferred
Shares, present at the Meeting in person or by proxy, is required for the
election of each such Trustee.
1.(C) COLONIAL INTERMARKET INCOME TRUST I
Ms. Kelly and Messrs. Hacker and Nelson (who have each agreed to serve) are
proposed for election as Trustees of the Fund. Each will serve for three years
or until a successor is elected.
The Board of Trustees is divided into the following three classes, each with a
term expiring in the year indicated (assuming the persons listed above are
elected at the Meeting):
2004 2005 2006
---- ---- ----
Mr. Neuhauser Mr. Lowry Mr. Hacker
Mr. Palombo Mr. Mayer Ms. Kelly
Mr. Theobald Mr. Stitzel Mr. Nelson
Ms. Verville
REQUIRED VOTE
The affirmative vote of a plurality of the holders of shares of beneficial
interest of the Fund, present at the Meeting in person or by proxy, is required
for the election of each such Trustee.
3
1.(D) COLONIAL CALIFORNIA INSURED MUNICIPAL FUND
Messrs. Lowry, Mayer and Nelson (who have each agreed to serve) are proposed for
election as Trustees of the Fund and are to be elected by the holders of Common
Shares and Preferred Shares, voting together as a single class. Each will serve
for three years or until a successor is elected. Messrs. Hacker and Stitzel (who
have each agreed to serve) are proposed for election as Trustees of the Fund and
are to be elected by the holders of Preferred Shares only, voting as a single
class.
The Board of Trustees (other than Messrs. Hacker and Stitzel) is divided into
the following three classes, each with a term expiring in the year indicated
(assuming the persons listed above are elected at the Meeting):
2004 2005 2006
---- ---- ----
Mr. Neuhauser Ms. Kelly Mr. Lowry
Mr. Theobald Mr. Palombo Mr. Mayer
Ms. Verville Mr. Nelson
Messrs. Hacker and Stitzel are subject to re-election annually by the holders of
Preferred Shares of the Fund.
REQUIRED VOTE
With respect to Messrs. Lowry, Mayer and Nelson, the affirmative vote of a
plurality of the holders of Common Shares and Preferred Shares, voting together
as a single class, present at the Meeting in person or by proxy, is required for
the election of each such Trustee. With respect to the election of
Messrs. Hacker and Stitzel, the affirmative vote of a plurality of the holders
of Preferred Shares, present at the Meeting in person or by proxy, is required
for the election of each such Trustee.
1.(E) COLONIAL INSURED MUNICIPAL FUND
Messrs. Lowry, Mayer and Nelson (who have each agreed to serve) are proposed for
election as Trustees of the Fund and are to be elected by the holders of Common
Shares and Preferred Shares, voting together as a single class. Each will serve
for three years or until a successor is elected. Messrs. Hacker and Stitzel (who
have each agreed to serve) are proposed for election as Trustees of the Fund and
are to be elected by the holders of Preferred Shares only, voting as a single
class.
4
The Board of Trustees (other than Messrs. Hacker and Stitzel) is divided into
the following three classes, each with a term expiring in the year indicated
(assuming the persons listed above are elected at the Meeting):
2004 2005 2006
---- ---- ----
Mr. Neuhauser Ms. Kelly Mr. Lowry
Mr. Theobald Mr. Palombo Mr. Mayer
Ms. Verville Mr. Nelson
Messrs. Hacker and Stitzel are subject to re-election annually by the holders of
Preferred Shares of the Fund.
REQUIRED VOTE
With respect to Messrs. Lowry, Mayer and Nelson, the affirmative vote of a
plurality of the holders of Common Shares and Preferred Shares, voting together
as a single class, present at the Meeting in person or by proxy, is required for
the election of each such Trustee. With respect to the election of
Messrs. Hacker and Stitzel, the affirmative vote of a plurality of the holders
of Preferred Shares, present at the Meeting in person or by proxy, is required
for the election of each such Trustee.
1.(F) COLONIAL NEW YORK INSURED MUNICIPAL FUND
Messrs. Lowry, Mayer and Nelson (who have each agreed to serve) are proposed for
election as Trustees of the Fund and are to be elected by the holders of Common
Shares and Preferred Shares, voting together as a single class. Each will serve
for three years or until a successor is elected. Messrs. Hacker and Stitzel (who
have each agreed to serve) are proposed for election as Trustees of the Fund and
are to be elected by the holders of Preferred Shares only, voting as a single
class.
The Board of Trustees (other than Messrs. Hacker and Stitzel) is divided into
the following three classes, each with a term expiring in the year indicated
(assuming the persons listed above are elected at the Meeting):
2004 2005 2006
---- ---- ----
Mr. Neuhauser Ms. Kelly Mr. Lowry
Mr. Theobald Mr. Palombo Mr. Mayer
Ms. Verville Mr. Nelson
Messrs. Hacker and Stitzel are subject to re-election annually by the holders of
Preferred Shares of the Fund.
5
REQUIRED VOTE
With respect to Messrs. Lowry, Mayer and Nelson, the affirmative vote of a
plurality of the holders of Common Shares and Preferred Shares, voting together
as a single class, present at the Meeting in person or by proxy, is required for
the election of each such Trustee. With respect to the election of
Messrs. Hacker and Stitzel, the affirmative vote of a plurality of the holders
of Preferred Shares, present at the Meeting in person or by proxy, is required
for the election of each such Trustee.
1.(G) COLONIAL MUNICIPAL INCOME TRUST
Ms. Kelly and Mr. Nelson (who have each agreed to serve) are proposed for
election as Trustees of the Fund and are to be elected by the holders of Common
Shares and Preferred Shares, voting together as a single class. Each will serve
for three years or until a successor is elected. Messrs. Hacker and Stitzel (who
have each agreed to serve) are proposed for election as Trustees of the Fund and
are to be elected by the holders of Preferred Shares only, voting as a single
class.
The Board of Trustees (other than Messrs. Hacker and Stitzel) is divided into
the following three classes, each with a term expiring in the year indicated
(assuming the persons listed above are elected at the Meeting):
2004 2005 2006
---- ---- ----
Mr. Lowry Mr. Mayer Ms. Kelly
Mr. Neuhauser Mr. Palombo Mr. Nelson
Mr. Theobald Ms. Verville
Messrs. Hacker and Stitzel are subject to re-election annually by the holders of
Preferred Shares of the Fund.
REQUIRED VOTE
With respect to Ms. Kelly and Mr. Nelson, the affirmative vote of a plurality of
the holders of Common Shares and Preferred Shares, voting together as a single
class, present at the Meeting in person or by proxy, is required for the
election of each such Trustee. With respect to the election of Messrs. Hacker
and Stitzel, the affirmative vote of a plurality of the holders of Preferred
Shares, present at the Meeting in person or by proxy, is required for the
election of each such Trustee.
6
1.(H) COLONIAL INTERMEDIATE HIGH INCOME FUND
Ms. Kelly and Messrs. Hacker, Neuhauser and Palombo (who have each agreed to
serve) are proposed for election as Trustees of the Fund. Each will serve for
three years or until a successor is elected.
The Board of Trustees is divided into the following three classes, each with a
term expiring in the year indicated (assuming the persons listed above are
elected at the Meeting):
2004 2005 2006
---- ---- ----
Mr. Stitzel Mr. Lowry Mr. Hacker
Mr. Theobald Mr. Mayer Ms. Kelly
Ms. Verville Mr. Nelson Mr. Neuhauser
Mr. Palombo
REQUIRED VOTE
The affirmative vote of a plurality of the holders of shares of beneficial
interest of the Fund present at the Meeting in person or by proxy is required
for the election of each such Trustee.
FOR INFORMATION REGARDING THE BOARD OF TRUSTEES AND EXECUTIVE OFFICERS OF YOUR
FUND, SEE APPENDIX A TO THIS PROXY STATEMENT.
TRUSTEES' COMPENSATION
The members of each Fund's Board of Trustees also serve as Trustees on the
boards for all other funds within the "Funds Complex." As of December 31, 2002,
the Funds Complex consisted of 80 open-end funds, 11 closed-end funds and 1
limited liability company; the All-Star Funds, which consisted of two closed-end
funds; and the Columbia Funds, which consisted of 15 open-end funds. The Funds'
Board of Trustees holds its meetings concurrently with the board meetings for
each of the other funds within the Funds Complex ("joint Board meetings"). For
the fiscal year ended October 31, 2002, CIHIF held 8 meetings (6 regular joint
Board meetings and 2 special joint Board meetings). For the fiscal year ended
November 30, 2002, each other Fund held 7 meetings (6 regular joint Board
meetings and 1 special joint Board meetings). Two-thirds of the Trustees' fees
are allocated among the funds within the Funds Complex based on the relative net
assets of each fund and one-third of the fees is divided equally among the funds
within the Funds Complex.
7
FOR MORE INFORMATION REGARDING THE COMPENSATION OF THE TRUSTEES, SEE APPENDIX
B.1 AND APPENDIX B.2 TO THIS PROXY STATEMENT.
TRUSTEE SHARE OWNERSHIP
The table in Appendix C shows, as of December 31, 2002, the dollar range of
equity securities beneficially owned by each Trustee (i) in each of the Funds,
and (ii) in all funds overseen by the Trustee in the Funds Complex.
TRUSTEES' MEETINGS AND COMMITTEES
The Board of Trustees of each Fund (the "Board") is responsible for the overall
management and supervision of that Funds' affairs and for protecting the
interests of the Funds' shareholders. The Board has created several committees
to perform specific functions on behalf of the Funds. The members of each
committee, along with a description of each committee's functions, appear below,
followed by a table that sets forth the number of meetings held by the Board and
each committee during the last fiscal year.
1. AUDIT COMMITTEE
Each Fund has an Audit Committee (the "Audit Committee") comprised of only
"Independent Trustees" (as defined in the listing standards of the New York
Stock Exchange ("NYSE") and the American Stock Exchange ("AMEX")), who are also
not "interested persons" (as defined in the Investment Company Act of 1940, as
amended) of any Fund. The Audit Committee is responsible for recommending to the
Board the firm of independent accountants to be selected to perform the audit of
each Fund; reviewing the methods, scope and results of the audits and the fees
charged for such services; and reviewing each Fund's internal accounting
procedures and controls. The Funds have no nominating or compensation
committees.
In discharging its oversight responsibility for the audit process, the Audit
Committee discussed with management the process for the preparation and review
of each Fund's audited financial statements for the most recently completed
fiscal year. Based on its review and discussion, the Audit Committee recommended
to the Boards that the audited financial statements for each Fund be included in
that Fund's Annual Report to shareholders. The Audit Committee also reviewed the
non-audit services provided by the independent accountants of the Funds. The
independent
8
accountants for the Funds, PricewaterhouseCoopers LLP ("PwC"), discussed with
the Audit Committee the matters required to be discussed by Statement on
Auditing Standards No. 61. In addition, the Audit Committee obtained from PwC a
formal written statement consistent with Independence Standards Board Standard
No. 1, "Independence Discussions with Audit Committees," describing all
relationships between the independent accountants and the Funds that might bear
on the independent accountants' independence. The Audit Committee also discussed
with PwC any relationships that may impact PwC's objectivity and independence
and the Audit Committee satisfied itself as to the independent accountants'
independence. Based on the recommendation from the Audit Committee and on its
own review, the Board selected PwC as independent accountants for the Funds for
the fiscal year ending October 31, 2003 or November 30, 2003, as the case may
be. Representatives of PwC are not expected to be present at the Meeting.
The Board has adopted a written charter that sets forth the Audit Committee's
structure, duties and powers, and methods of operation of the Audit Committee.
The Audit Committee Charter is attached as APPENDIX F. Each member of the Audit
Committee must be financially literate and at least one member must have prior
accounting experience or related financial management expertise. The Board has
determined, in accordance with applicable regulations of the NYSE and AMEX, that
each member of the Audit Committee is financially literate and has prior
accounting experience or related financial management expertise. The members of
the Funds' Audit Committee members for 2002 were Ms. Verville and
Messrs. Hacker, Macera(1), Nelson and Neuhauser. Each member of the Audit
Committee meets the independence standards of the NYSE and AMEX listing
standards.
2. GOVERNANCE COMMITTEE
Ms. Verville and Messrs. Hacker, Lowry, Mayer and Theobald are members of the
Governance Committee of each Fund. The Governance Committee's functions include
recommending to the Board nominees for Trustee and nominees for appointment to
various committees; performing periodic evaluations of the effectiveness of the
Board; reviewing and recommending to the Board policies and practices to be
followed in carrying out the Trustees' duties and responsibilities; and
reviewing and making recommendations to the Board regarding the compensation of
the Trustees
------------------------
(1) Mr. Macera is not up for re-election for any Board or Committee because he
retires this year.
9
who are not affiliated with Columbia. The Governance Committee will consider
candidates for Trustee as recommended by shareholders. Written recommendations
for candidates for Trustee, along with supporting information, should be
directed to the Governance Committee, in care of your Fund.
3. ADVISORY FEES & EXPENSES COMMITTEE
Ms. Kelly and Messrs. Mayer, Neuhauser, Stitzel and Theobald are members of the
Advisory Fees & Expenses Committee of each Fund. The Advisory Fees & Expenses
Committee's functions include reviewing and making recommendations to the Board
as to contracts requiring approval of a majority of the disinterested Trustees
and as to any other contracts that may be referred to the committee by the
Board.
4. TRADING OVERSIGHT COMMITTEE
Ms. Kelly and Messrs. Lowry, Nelson and Stitzel are members of the Trading
Oversight Committee. The Trading Oversight Committee's functions include
reviewing and recommending to the Board the policies and practices to be
followed by Columbia in executing portfolio trades on behalf of each Fund and
regularly reviewing the allocation of each Fund's portfolio transactions among
executing broker/dealers, the level of commission payments paid to
broker/dealers, soft dollar commitments, directed brokerage arrangements and
other trading practices.
NUMBER OF
CCAIMF, CHIMT,
CIMF, CIITI,
CIGMT, CMIT,
NUMBER OF CIHIF CNYIMF MEETINGS
MEETINGS FOR FISCAL FOR FISCAL YEAR
YEAR ENDED ENDED
OCTOBER 31, 2002 NOVEMBER 30, 2002
------------------- ------------------
Board of Trustees 8 7
Audit Committee 7 7
Governance Committee 2 2
Advisory Fees & Expenses Committee 7 7
Trading Oversight Committee 2 2
10
FEES PAID TO INDEPENDENT ACCOUNTANTS
1. AUDIT FEES
For the audit of each Fund's annual financial statements for the most recently
completed fiscal year, the fees paid or accrued to PwC are as follows:
FUND FISCAL YEAR ENDED FEES
---- ----------------- -------
CCAIMF 11/30/02 $20,580
CHIMT 11/30/02 $25,200
CIMF 11/30/02 $20,580
CIITI 11/30/02 $26,880
CIHIF 10/31/02 $31,395
CIGMT 11/30/02 $21,400
CMIT 11/30/02 $25,200
CNYIMF 11/30/02 $20,580
2. FINANCIAL INFORMATION SYSTEMS DESIGN AND IMPLEMENTATION FEES
For each Fund's most recently completed fiscal year, none of the Funds,
Columbia, or the entities controlling, controlled by, or under common control
with Columbia that provide services to the Funds, paid or accrued any fees for
financial information systems design and implementation services provided by
PwC.
3. ALL OTHER FEES
The fees paid or accrued by each Fund to PwC for tax services and all other
services provided by PwC for the most recently completed fiscal year are as
follows:
FUND FISCAL YEAR ENDED FEES
---- ----------------- -------
CCAIMF 11/30/02 $12,100
CHIMT 11/30/02 $10,600
CIMF 11/30/02 $12,100
CIITI 11/30/02 $ 4,100
CIHIF 10/31/02 $ 5,100
CIGMT 11/30/02 $11,600
CMIT 11/30/02 $11,600
CNYIMF 11/30/02 $12,100
11
In addition, for all other services provided by PwC to Columbia, and entities
controlling, controlled by, or under common control with Columbia that provide
services to the Funds, aggregate fees for all other services paid or accrued to
PwC were approximately $755,000. These non-audit services and general procedures
related to other funds in the complex.
The Audit Committee has determined that the provision of the services described
above is compatible with maintaining the independence of PwC.
OTHER BUSINESS
The Meeting has been called to transact any business that properly comes before
it. The only business that management of the Funds intends to present or knows
that others will present is the election of Trustees. If any other matters
properly come before the Meeting, and on all matters incidental to the conduct
of the Meeting, the persons named as proxies intend to vote the proxies in
accordance with their judgment, unless the Secretary of the Funds has previously
received written contrary instructions from the shareholder entitled to vote the
shares.
OUTSTANDING SHARES AND SIGNIFICANT SHAREHOLDERS
All shareholders of record at the close of business on February 28, 2003, are
entitled to one vote for each share held on that date and holders of Common
Shares are entitled to fractional votes for any fractional shares held on that
date. The table in APPENDIX D lists for each Fund the total number of shares
outstanding as of the close of business on February 28, 2003, for each class of
a Fund's shares entitled to vote at the Meeting.
The table in APPENDIX E lists the holders of more than five percent of any class
of shares of each Fund as of the close of business on February 28, 2003, based
on filings made by such holders pursuant to Sections 13(d) and 16(a) of the
Securities Exchange Act of 1934, as amended.
INFORMATION ABOUT THE MEETING AND THE VOTING AND TABULATION OF PROXIES
All proxies solicited by or on behalf of the Board that are properly executed
and returned in time to be voted at the Meeting will be voted at the Meeting as
instructed on the proxy. If no instructions are given, the proxy will be voted
in favor of the nominees for election as Trustees.
12
Any proxy may be revoked at any time prior to its being exercised by written
notification received by the Funds' Secretary, by the execution of a later-
dated proxy, or by attending the meeting and voting in person.
Votes cast in person or by proxy at the Meeting will be counted by persons
appointed by the Funds as tellers for the Meeting (the "Tellers"). For each of
CCAIMF, CIMF, CNYIMF and CMIT, 30% of the shares of the Fund outstanding on the
record date and entitled to vote, present at the Meeting in person or
represented by proxy, constitutes a quorum for the transaction of business by
the shareholders of that Fund. For each of CHIMT, CIGMT, CIHIF and CIITI, a
majority of the shares of the Fund outstanding on the record date and entitled
to vote, present at the Meeting in person or represented by proxy, constitutes a
quorum for the transaction of business by the shareholders of that Fund.
The election of Trustees is by plurality of votes cast at the Meeting. Only
shareholders of record on February 28, 2003 may vote.
In determining whether a quorum is present, the Tellers will count shares
represented by proxies that reflect abstentions, and "broker non-votes," as
shares that are present and entitled to vote. With respect to the election of
Trustees, withheld authority, abstentions and broker non-votes have no effect on
the outcome of voting. "Broker non-votes" are shares held by brokers or nominees
as to which (i) the broker or nominee does not have discretionary voting power,
and (ii) the broker or nominee has not received instructions from the beneficial
owner or other person who is entitled to instruct how the shares will be voted.
ADJOURNMENTS
In the event that a quorum is present at the Meeting but sufficient votes to
approve any of the proposals have not been received, the persons named as
proxies may propose one or more adjournments of the Meeting to permit further
solicitation of proxies. A shareholder vote may be taken on one or more of the
proposals referred to above prior to such adjournment if sufficient votes have
been received and it is otherwise appropriate. Any such adjournment will require
the affirmative vote of a majority of those shares present at the Meeting
(including abstentions and broker non-votes) in person or by proxy. If a quorum
is present, the persons named as proxies will vote those proxies that entitle
them to vote FOR any such proposal in favor of such adjournment and will vote
those proxies that require them to vote for rejection of any such proposal
against any such adjournment.
13
SUBMISSION OF PROPOSALS FROM SHAREHOLDERS AT FUTURE MEETINGS
Under the proxy rules of the Securities and Exchange Commission (the "SEC"),
shareholder proposals that meet tests contained in those rules may, under
certain conditions, be included in a Fund's proxy materials for an annual
shareholder's meeting. Under the proxy rules, proposals submitted for inclusion
in the proxy materials for the 2003 Annual Meeting must be received by the
relevant Fund on or before December 26, 2003. The fact that a Fund receives a
shareholder proposal in a timely manner does not ensure inclusion of the
proposal in the proxy materials since there are other requirements in the proxy
rules relating to such inclusion.
Shareholders who wish to make a proposal at the 2004 Annual Meeting that will
not be included in the Funds' proxy materials must notify the relevant Fund on
or before March 12, 2004. If a shareholder who wishes to submit a proposal fails
to timely notify the relevant Fund, the proxies solicited for the meeting will
have discretionary authority to vote on the shareholder's proposal if it is
properly brought before the meeting. If a shareholder makes a timely
notification, the proxies may still exercise discretionary voting authority
under circumstances consistent with the SEC's proxy rules.
You may submit shareholder proposals to the Secretary of the Liberty Funds, One
Financial Center, Boston, Massachusetts 02111-2621.
COMPLIANCE WITH SECTION 16(A) OF THE SECURITIES EXCHANGE ACT OF 1934
(BENEFICIAL OWNERSHIP REPORTING)
Section 16(a) of the Securities Exchange Act of 1934, as amended, requires the
Funds' Trustees and officers, persons who own more than ten percent of a Fund's
outstanding shares and certain officers and directors of the Fund's Advisor
(collectively, "Section 16 reporting persons"), to file with the SEC initial
reports of beneficial ownership and reports of changes in beneficial ownership
of Fund shares. Section 16 reporting persons are required by SEC regulations to
furnish the Funds with copies of all Section 16(a) forms that they file. To the
Funds' knowledge, based solely on a review of the copies of such reports
furnished to the Funds, and on representations made, all Section 16 reporting
persons complied with all Section 16(a) filing requirements applicable to them
except as noted below.
14
For each of the following persons, who are subject to Section 16 of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), with respect
to the Funds' because of the requirements of Section 30 of the Investment
Company Act of 1940, a Form 3 report, which is required by Section 16(a) of the
Exchange Act, was not filed on a timely basis.
Roger A. Sayler (no holdings)
Philip J. Iudice, Jr. (no holdings)
Maureen Newman (no holdings)
Laura Ostrander (no holdings)
Scott B. Richards (no holdings)
Greg R. Smalley (no holdings)
OTHER INFORMATION
EACH FUND HAS PREVIOUSLY SENT ITS MOST RECENT ANNUAL REPORT AND ANY SUBSEQUENT
SEMI-ANNUAL REPORT TO ITS SHAREHOLDERS. YOU MAY OBTAIN A COPY OF THESE REPORTS,
FREE OF CHARGE, BY WRITING TO COLUMBIA AT ONE FINANCIAL CENTER, BOSTON, MA,
02111-2621, OR BY CALLING 1-800-426-3750.
15
APPENDIX A -- TRUSTEE AND OFFICER INFORMATION
The names and ages of the Trustees and executive officers of the Funds, the
year each was first elected or appointed to office, their principal business
occupations during at least the last five years, the number of portfolios in the
Fund Complex overseen by each Trustee and other directorships that each Trustee
holds are shown below. The address of each Trustee and officer is One Financial
Center, Boston, MA 02111.
The "Fund Complex" includes the Liberty Funds, the All-Star Funds, and the
Columbia Funds. The All-Star Funds and the Columbia Funds have separate boards
of directors or trustees, as applicable.
TRUSTEES
NUMBER OF
PORTFOLIOS IN
FUND
YEAR FIRST ELECTED COMPLEX
POSITION OR APPOINTED TO PRINCIPAL OCCUPATION(S) OVERSEEN
NAME AND AGE WITH FUNDS OFFICE DURING PAST FIVE YEARS BY TRUSTEE
---------------------- ----------- --------------------- ------------------------------- -------------
DISINTERESTED TRUSTEES
Douglas A. Hacker Trustee CHIMT -- 2000 Executive Vice 92
(Age 47) CIGMT -- 2000 President-Strategy of United
CIITI -- 2000 Airlines (airline) since
CCAIMF -- 2000 December, 2002 (formerly
CIMF -- 2000 President of UAL Loyalty
CNYIMF -- 2000 Services (airline) from
CMIT -- 2000 September, 2001 to December,
CIHIF -- 2000 2002; Executive Vice President
and Chief Financial Officer of
United Airlines from March,
1993 to September, 2001 of
United Airliens; Senior Vice
President and Chief Financial
Officer of UAL, Inc. prior
thereto).
NAME AND AGE OTHER DIRECTORSHIPS HELD
---------------------- -------------------------------
DISINTERESTED TRUSTEES
Douglas A. Hacker None
(Age 47)
16
NUMBER OF
PORTFOLIOS IN
FUND
YEAR FIRST ELECTED COMPLEX
POSITION OR APPOINTED TO PRINCIPAL OCCUPATION(S) OVERSEEN
NAME AND AGE WITH FUNDS OFFICE DURING PAST FIVE YEARS BY TRUSTEE
---------------------- ----------- --------------------- ------------------------------- -------------
Janet Langford Kelly Trustee CHIMT -- 2000 Executive Vice President- 92
(Age 45) CIGMT -- 2000 Corporate Development and
CIITI -- 2000 Administration, General Counsel
CCAIMF -- 2000 and Secretary, Kellogg Company
CIMF -- 2000 (food manufacturer) since
CNYIMF -- 2000 September, 1999; Senior Vice
CMIT -- 2000 President, Secretary and
CIHIF -- 2000 General Counsel, Sara Lee
Corporation (branded, packaged,
consumer-products manufacturer)
from January, 1995 to
September, 1999.
Richard W. Lowry Trustee CHIMT -- 1995 Private Investor since August, 94
(Age 66) CIGMT -- 1995 1987 (formerly Chairman and
CIITI -- 1995 Chief Executive Officer, U.S.
CCAIMF -- 1999 Plywood Corporation (building
CIMF -- 1999 products manufacturer)).
CNYIMF -- 1999
CMIT -- 1995
CIHIF -- 1995
NAME AND AGE OTHER DIRECTORSHIPS HELD
---------------------- -------------------------------
Janet Langford Kelly None
(Age 45)
Richard W. Lowry None
(Age 66)
17
NUMBER OF
PORTFOLIOS IN
FUND
YEAR FIRST ELECTED COMPLEX
POSITION OR APPOINTED TO PRINCIPAL OCCUPATION(S) OVERSEEN
NAME AND AGE WITH FUNDS OFFICE DURING PAST FIVE YEARS BY TRUSTEE
---------------------- ----------- --------------------- ------------------------------- -------------
Charles R. Nelson Trustee CHIMT -- 2000 Professor of Economics, 107
(Age 60) CIGMT -- 2000 University of Washington, since
CIITI -- 2000 January 1976; Ford and Louisa
CCAIMF -- 2000 Van Voorhis Professor of
CIMF -- 2000 Political Economy, University
CNYIMF -- 2000 of Washington, since September
CMIT -- 2000 1993; Director, Institute for
CIHIF -- 2000 Economic Research, University
of Washington, since September
2001; Adjunct Professor of
Statistics, University of
Washington, since September
1980; Associate Editor, Journal
of Money Credit and Banking,
since September, 1993; Trustee
of the Columbia Funds since
July, 2002; consultant on
econometric and statistical
matters.
John J. Neuhauser Trustee CHIMT -- 1985 Academic Vice President and 94
(Age 60) CIGMT -- 1985 Dean of Faculties since August,
CIITI -- 1989 1999, Boston College (formerly
CCAIMF -- 1999 Dean, Boston College School of
CIMF -- 1999 Management from September, 1977
CNYIMF -- 1999 to September, 1999).
CMIT -- 1985
CIHIF -- 1985
NAME AND AGE OTHER DIRECTORSHIPS HELD
---------------------- -------------------------------
Charles R. Nelson None
(Age 60)
John J. Neuhauser Saucony, Inc. (athletic
(Age 60) footwear); SkillSoft Corp.
(E-learning)
18
NUMBER OF
PORTFOLIOS IN
FUND
YEAR FIRST ELECTED COMPLEX
POSITION OR APPOINTED TO PRINCIPAL OCCUPATION(S) OVERSEEN
NAME AND AGE WITH FUNDS OFFICE DURING PAST FIVE YEARS BY TRUSTEE
---------------------- ----------- --------------------- ------------------------------- -------------
Thomas E. Stitzel Trustee CHIMT -- 1998 Business Consultant since 1999 92
(Age 67) CIGMT -- 1998 (formerly Professor of Finance
CIITI -- 1998 from 1975 to 1999 and Dean from
CCAIMF -- 1999 1977 to 1991, College of
CIMF -- 1999 Business, Boise State
CNYIMF -- 1999 University); Chartered
CMIT -- 1998 Financial Analyst.
CIHIF -- 1998
Thomas C. Theobald Trustee CHIMT -- 2000 Managing Director, William 92
(Age 65) CIGMT -- 2000 Blair Capital Partners (private
CIITI -- 2000 equity investing) since
CCAIMF -- 2000 September, 1994 (formerly Chief
CIMF -- 2000 Executive Officer and Chairman
CNYIMF -- 2000 of the Board of Directors,
CMIT -- 2000 Continental Bank Corporation).
CIHIF -- 2000
NAME AND AGE OTHER DIRECTORSHIPS HELD
---------------------- -------------------------------
Thomas E. Stitzel None
(Age 67)
Thomas C. Theobald Anixter International (network
(Age 65) support equipment distributor);
Jones Lang LaSalle (real estate
management services) and MONY
Group (life insurance).
19
NUMBER OF
PORTFOLIOS IN
FUND
YEAR FIRST ELECTED COMPLEX
POSITION OR APPOINTED TO PRINCIPAL OCCUPATION(S) OVERSEEN
NAME AND AGE WITH FUNDS OFFICE DURING PAST FIVE YEARS BY TRUSTEE
---------------------- ----------- --------------------- ------------------------------- -------------
Anne-Lee Verville Trustee CHIMT -- 1998 Author and speaker on 92
(Age 57) CIGMT -- 1998 educational systems needs
CIITI -- 1998 (formerly General Manager,
CCAIMF -- 1999 Global Education Industry from
CIMF -- 1999 1994 to 1997, and President,
CNYIMF -- 1999 Applications Solutions Division
CMIT -- 1998 from 1991 to 1994, IBM
CIHIF -- 1998 Corporation (global education
and global applications)).
INTERESTED TRUSTEES
William E. Mayer* Trustee CHIMT -- 1994 Managing Partner, Park Avenue 94
(Age 62) CIGMT -- 1994 Equity Partners (private equity
CIITI -- 1994 fund) since February, 1999
CCAIMF -- 1999 (formerly Founding Partner,
CIMF -- 1999 Development Capital LLC from
CNYIMF -- 1999 November 1996 to February,
CMIT -- 1994 1999; Dean and Professor,
CIHIF -- 1994 College of Business and
Management, University of
Maryland from October, 1992 to
November, 1996).
NAME AND AGE OTHER DIRECTORSHIPS HELD
---------------------- -------------------------------
Anne-Lee Verville Chairman of the Board of
(Age 57) Directors, Enesco Group, Inc.
(designer, importer and
distributor of giftware and
collectibles).
INTERESTED TRUSTEES
William E. Mayer* Lee Enterprises (print and
(Age 62) on-line media); WR Hambrecht +
Co. (financial service
provider); First Health
(healthcare).
* Mr. Mayer is an "interested person" (as defined in the Investment Company Act
of 1940, as amended) of the Fund by reason of his affiliation with WR
Hambrecht + Co., a registered broker-dealer.
20
NUMBER OF
PORTFOLIOS IN
FUND
YEAR FIRST ELECTED COMPLEX
POSITION OR APPOINTED TO PRINCIPAL OCCUPATION(S) OVERSEEN
NAME AND AGE WITH FUNDS OFFICE DURING PAST FIVE YEARS BY TRUSTEE
---------------------- ----------- --------------------- ------------------------------- -------------
Joseph R. Palombo* Trustee, CHIMT -- 2000 Chief Operating Officer of 92
(Age 50) Chairman of CIGMT -- 2000 Columbia Management
the Board CIITI -- 2000 Group, Inc. (Columbia
and CCAIMF -- 2000 Management) since November,
President CIMF -- 2000 2001 and Chief Operating
CNYIMF -- 2000 Officer of the Advisor since
CMIT -- 2000 August, 2002; formerly Chief
CIHIF -- 2000 Operations Officer of Mutual
Funds, Liberty Financial
Companies, Inc. from August,
2000 to November, 2001;
Executive Vice President of
Stein Roe & Farnham
Incorporated (Stein Roe) since
April, 1999; Director of Stein
Roe since September, 2000;
President of the Liberty Funds
since February, 2003; Trustee
and Chairman of the Board of
the Stein Roe Funds since
October, 2000; Manager of Stein
Roe Floating Rate Limited
Liability Company since
October, 2000 (formerly Vice
President of the Liberty Funds
from April, 1999 to August,
2000; Chief Operating Officer
and Chief Compliance Officer,
Putnam Mutual Funds from
December, 1993 to March, 1999).
NAME AND AGE OTHER DIRECTORSHIPS HELD
---------------------- -------------------------------
Joseph R. Palombo* None
(Age 50)
* Mr. Palombo is an interested person of the Funds because he is an employee of
Columbia Management, an affiliate of the Fund's investment advisor, Columbia
Management Advisers, Inc.
21
YEAR FIRST
ELECTED OR
POSITION APPOINTED TO PRINCIPAL OCCUPATION(S)
NAME AND AGE WITH FUNDS OFFICE DURING PAST FIVE YEARS
---------------------- ----------- --------------------- ------------------------------------------------------------
OFFICERS
Vicki L. Benjamin Chief CHIMT -- 2001 Controller of the Liberty Funds and Liberty All-Star Funds
(Age 41) Accounting CIGMT -- 2001 since May, 2002; Chief Accounting Officer of the Liberty
Officer and CIITI -- 2001 Funds and Liberty All-Star Funds since June, 2001;
Controller CCAIMF -- 2001 Controller and Chief Accounting Officer of the Galaxy Funds
CIMF -- 2001 since September, 2002 (formerly Vice President, Corporate
CNYIMF -- 2001 Audit, State Street Bank and Trust Company from May, 1998 to
CMIT -- 2001 April, 2001; Audit Manager from July, 1994 to June, 1997 and
CIHIF -- 2000 Senior Audit Manager from July, 1997 to May, 1998,
Coopers & Lybrand, LLP).
J. Kevin Connaughton Treasurer CHIMT -- 2000 Treasurer of the Liberty Funds and Liberty All-Star Funds
(Age 38) CIGMT -- 2000 since December, 2000 (formerly Controller of the Liberty
CIITI -- 2000 Funds and of the Liberty All-Star Funds from February, 1998
CCAIMF -- 2000 to October, 2000); Treasurer of the Stein Roe Funds since
CIMF -- 2000 February, 2001 (formerly Controller from May, 2000 to
CNYIMF -- 2000 February, 2001); Treasurer of the Galaxy Funds since
CMIT -- 2000 September, 2002 (formerly Vice President from April, 2000 to
CIHIF -- 2000 January, 2001; Vice President of Colonial from February,
1998 to October, 2000; Senior Tax Manager, Coopers &
Lybrand, LLP from April, 1996 to January, 1998).
Jean S. Loewenberg Secretary CHIMT -- 2002 Secretary of the Liberty Funds, and Liberty All-Star Funds
(Age 57) CIGMT -- 2002 since February, 2002; General Counsel of Columbia Management
CIITI -- 2002 Group since December, 2001; Senior Vice President since
CCAIMF -- 2002 November, 1996 and Assistant General Counsel since
CIMF -- 2002 September, 2002 of Fleet National Bank.
CNYIMF -- 2002
CMIT -- 2002
CIHIF -- 2002
22
APPENDIX B.1 -- TRUSTEES' COMPENSATION
For the calendar year ended December 31, 2002, the Trustees received the
following compensation for serving as Trustees:
TOTAL COMPENSATION FROM THE
FUND COMPLEX PAID TO THE
PENSION OR RETIREMENT TRUSTEES FOR THE
BENEFITS ACCRUED AS PART CALENDAR YEAR ENDED
DISINTERESTED TRUSTEES OF FUND EXPENSES(A) DECEMBER 31, 2002(B)
---------------------- ------------------------ ---------------------------
Douglas A. Hacker N/A $ 98,000
Janet Langford Kelly N/A $ 97,000
Richard W. Lowry N/A $124,806
Salvatore Macera N/A $ 98,000
Charles R. Nelson N/A $120,182
John J. Neuhauser N/A $124,974
Thomas E. Stitzel N/A $ 98,000
Thomas C. Theobald N/A $102,000
Anne-Lee Verville(d) N/A $102,000(d)
INTERESTED TRUSTEES
----------------------
William E. Mayer N/A $127,806
Joseph R. Palombo(c) N/A N/A
(a) The Funds do not currently provide pension or retirement plan benefits to
the Trustees.
(b) The "Fund Complex" includes the Liberty Funds, the All-Star Funds, and the
Columbia Funds. The All-Star Funds and the Columbia Funds have separate
boards of directors or trustees, as applicable.
(c) Mr. Palombo does not receive compensation from the funds in the Liberty Fund
Complex because he is an employee of Columbia Management Group, Inc. which
is an affiliate of the Fund's investment advisor, Columbia Management.
(d) During the calendar year ended December 31, 2002, Ms. Verville deferred her
total compensation pursuant to the deferred compensation plan.
23
APPENDIX B.2 -- TRUSTEES' COMPENSATION
For the fiscal year ended November 30, 2002 (October 31, 2002 for CIHIF),
the Trustees received from each Fund the following compensation for serving as
Trustees:
AGGREGATE AGGREGATE AGGREGATE AGGREGATE
COMPENSATION COMPENSATION COMPENSATION COMPENSATION
FROM CHIMT FROM CIGMT FROM CIITI FROM CCAIMF
FOR THE FISCAL FOR THE FISCAL FOR THE FISCAL FOR THE FISCAL
YEAR ENDED YEAR ENDED YEAR ENDED YEAR ENDED
DISINTERESTED TRUSTEE 11/30/02 11/30/02 11/30/02 11/30/02
--------------------- -------------- -------------- -------------- --------------
Douglas A. Hacker $1,222 $872 $612 $532
Janet Langford Kelly 1,209 864 606 527
Richard W. Lowry 1,245 891 625 543
Salvatore Macera 1,222 872 612 532
James L. Moody, Jr. N/A N/A N/A N/A
Charles R. Nelson 1,222 872 612 532
John J. Neuhauser 1,249 891 626 544
Thomas E. Stitzel 1,221 872 612 532
Thomas C. Theobald 1,270 907 637 553
Anne-Lee Verville(a) 1,271 908 637 553
INTERESTED TRUSTEE
-------------------------
William E. Mayer 1,283 916 643 558
Joseph R. Palombo(b) N/A N/A N/A N/A
(a) During the fiscal year ended November 30, 2002, Ms. Verville deferred her
total compensation from the Funds pursuant to the deferred compensation
plan.
(b) Mr. Palombo does not receive compensation from the funds in the Fund Complex
because he is an employee of Columbia Management Group, Inc. which is an
affiliate of the Fund's investment advisor, Columbia Management.
24
AGGREGATE AGGREGATE AGGREGATE AGGREGATE
COMPENSATION COMPENSATION COMPENSATION COMPENSATION
FROM CIMF FROM CNYIMF FROM CMIT FROM CIHIF
FOR THE FISCAL FOR THE FISCAL FOR THE FISCAL FOR THE FISCAL
YEAR ENDED YEAR ENDED YEAR ENDED YEAR ENDED
DISINTERESTED TRUSTEE 11/30/02 11/30/02 11/30/02 10/31/02
--------------------- -------------- -------------- -------------- --------------
Douglas A. Hacker $627 $451 $1,074 $546
Janet Langford Kelly 621 447 1,063 541
Richard W. Lowry 640 461 1,096 558
Salvatore Macera 627 451 1,074 546
Charles R. Nelson 627 451 1,074 546
John J. Neuhauser 641 462 1,096 553
Thomas E. Stitzel 627 451 1,073 546
Thomas C. Theobald 653 469 1,117 568
Anne-Lee Verville(a) 653 469 1,117 568
INTERESTED TRUSTEE
-------------------------
William E. Mayer 659 474 1,128 574
Joseph R. Palombo(b) N/A N/A N/A N/A
(a) During the fiscal year ended November 30, 2002 (October 31, 2002 for CIHIF),
Ms. Verville deferred her total compensation from the Funds pursuant to the
deferred compensation plan.
25
APPENDIX C -- TRUSTEE SHARE OWNERSHIP
The following table shows the dollar range of equity securities beneficially
owned by each Trustee as of December 31, 2002 (i) in the Funds and (ii) in other
funds overseen by the Trustees within the Fund Complex.
DOLLAR RANGE OF AGGREGATE DOLLAR RANGE OF
EQUITY SECURITIES EQUITY SECURITIES IN ALL FUNDS
OWNED IN THE OVERSEEN BY TRUSTEE IN
DISINTERESTED TRUSTEES FUNDS FUND COMPLEX
--------------------------- ----------------- ------------------------------
Douglas A. Hacker $0 Over $100,000
Janet Langford Kelly $0 Over $100,000
Richard W. Lowry (a) $0 Over $100,000
Salvatore Macera $0 $50,001-$100,000
Charles R. Nelson(b) $0 Over $100,000
John J. Neuhauser (a) $0 Over $100,000
Thomas E. Stitzel $0 $50,001-$100,000
Thomas C. Theobald $0 Over $100,000
Anne-Lee Verville $0 Over $100,000(c)
INTERESTED TRUSTEES
William E. Mayer (a) $0 $50,001-$100,000
Joseph R. Palombo $0 $1-$10,000
(a) Mr. Lowry also serves as a Trustee/Director of the All-Star Funds.
(b) Mr. Nelson also serves as a Trustee/Director of the Columbia Funds.
(c) Ms. Verville's share ownership is held in her deferred compensation plan.
TRUSTEE POSITIONS
As of December 31, 2002, no disinterested Trustee or any of his or her
immediate family members owned beneficially or of record any class of securities
of FleetBoston Financial, Columbia Management Advisers, Inc., another investment
advisor, sub-advisor or portfolio manager of any of the Funds in the Funds
Complex, or any person controlling, controlled by or under common control with
any such entity.
26
APPENDIX D -- SHARES OUTSTANDING AND ENTITLED TO VOTE
As of the close of business on February 28, 2003, the Funds had outstanding
and entitled to vote at the Meeting the following shares of beneficial interest:
FUND COMMON SHARES PREFERRED SHARES
----------------------------------- --------------- ----------------
CCAIMF 2,776,004.120 978
CHIMT 31,097,982.000 4,800
CIMF 4,239,148.670 1,492
CIITI 11,009,000.000 N/A
CIHIF 20,867,809.0360 N/A
CIGMT 11,509,000.000 2,400
CMIT 27,656,180.000 3,600
CNYIMF 1,610,402.670 564
27
APPENDIX E -- OWNERSHIP OF SHARES
As of the close of business on February 28, 2003, the following persons were
known to own beneficially or of record more than 5% of the outstanding
securities of each of the following Funds:
# OF % OF
CLASS OF SHARES SHARES
FUND SHARES NAME AND ADDRESS OWNED OWNED
--------------------- --------- ------------------------- ---------- --------
CCAIMF Common Cede & CO Fast Depository 2,688,552 96.84%
Trust Co
55 Water St. 25th Floor
New York, NY 10004
CHIMT Common Cede & CO Fast Depository 27,518,020 88.48%
Trust Co
55 Water St. 25th Floor
New York, NY 10004
CIMF Common Cede & CO Fast Depository 4,144,812 97.77%
Trust Co
55 Water St. 25th Floor
New York, NY 10004
CIITI N/A Cede & CO Fast Depository 9,822,788 89.22%
Trust Co
55 Water St. 25th Floor
New York, NY 10004
CIHIF N/A Cede & CO Fast Depository 19,233,235 92.17%
Trust Co
55 Water St. 25th Floor
New York, NY 10004
CIGMT Common Cede & CO Fast Depository 10,093,796 87.70%
Trust Co
55 Water St. 25th Floor
New York, NY 10004
CMIT Common Cede & CO Fast Depository 23,367,302 84.49%
Trust Co
55 Water St. 25th Floor
New York, NY 10004
CNYIMF Common Cede & CO Fast Depository 1,584,135 98.36%
Trust Co
55 Water St. 25th Floor
New York, NY 10004
28
APPENDIX F -- AUDIT COMMITTEE CHARTER
AUDIT COMMITTEE CHARTER
(Adopted August 14, 2001 Revised June 19, 2002)
I. COMPOSITION OF THE AUDIT COMMITTEE. The Audit Committee shall be comprised
of at least three Board members, none of whom shall be an "interested" Board
member as defined in the Investment Company Act of 1940, or have any other
relationship with the Liberty group of mutual funds (the "Funds") that may
interfere with their exercise of independence from management and the Funds
and shall otherwise satisfy any applicable membership requirements under the
rules of the New York Stock Exchange, Inc., National Association of
Securities Dealers, Inc. and American Stock Exchange, Inc.(1)
II. PURPOSES OF THE AUDIT COMMITTEE. The purposes of the Audit Committee are to
assist the Board in:
1. Its oversight of the Funds' accounting and financial reporting policies
and practices and of accounting services provided to the Funds,
including internal accounting controls and procedures;
2. Its oversight of the quality and objectivity of the Funds' financial
statements and the independent audit thereof;
3. Recommending the independent auditors to be selected by the Board,
evaluating and, where deemed appropriate, recommending replacing the
outside auditors.
The function of the Audit Committee is oversight. Management of the
Funds is responsible for the preparation, presentation and integrity of
the Funds' financial statements. Management and its internal accounting
department are responsible for maintaining appropriate accounting and
financial reporting principles and
------------------------
(1) The New York Stock Exchange rules require the Board of Trustees of each of
its listed companies to determine, with respect to each member of the Audit
Committee, that (a) each member of the Committee is "independent," within
the meaning of the rules, (b) each member of the Committee is "financially
literate," within the meaning of the rules, and (c) at least one member of
the Committee has accounting or related financial management expertise, as
the Board interprets such qualification in its business judgment. The Fund
Board will make such determinations each time a new member joins the Audit
Committee.
29
policies and internal controls and procedures designed to assure
compliance with accounting standards and applicable laws and
regulations. Independent auditors are responsible for planning and
carrying out proper audits and reviews. The independent auditors are
ultimately accountable to the Board and Audit Committee of the Board.
The Board has the ultimate authority and responsibility to select,
evaluate and, where appropriate, replace the independent auditors.
III. MEETINGS OF THE AUDIT COMMITTEE. The Audit Committee shall meet at least
twice annually, or more frequently if circumstances dictate. The Audit
Committee shall set its agenda and the places and times of its meetings. The
Audit Committee may meet alone, without the presence of management
personnel, with any independent accounting firm rendering reports to the
Audit Committee or with independent legal counsel. The Audit Committee shall
keep minutes of its meetings.
IV. DUTIES AND POWERS OF THE AUDIT COMMITTEE. To carry out its purposes, the
Audit Committee shall have the following duties and powers:
1. The Audit Committee shall review and discuss the audited financial
statements and other financial information with management and the
independent auditors for the Funds. Such review and discussion will
include any management letters, auditor recommendations to management,
and valuation procedures and fair valuation methodologies employed with
regard to the Funds.
2. The Audit Committee shall review and discuss with the independent
auditors:
(a) the scope of audits and audit reports;
(b) the personnel, staffing, qualifications and experience of the
auditors;
(c) the compensation of the auditors; and
(d) the independence of the auditors, regarding which the Audit
Committee shall secure from the auditors the information required by
Independence Standards Board Standard No. 1. The Audit Committee
shall actively engage in a dialogue with the independent auditors
with respect to any disclosed relationships or services that may
impact the objectivity and independence of the independent auditors.
The Audit Committee also shall be responsible for recommending that
the Board of Trustees take appropriate action in response to
30
the independent auditors' report to satisfy itself of the
independent auditors' independence.
3. The Audit Committee also shall review and discuss with the independent
auditors the matters required to be discussed pursuant to SAS 61,
including the following:
(a) the quality, not just the acceptability under generally accepted
accounting principles, of the accounting principles applied by the
Funds in their financial reporting;
(b) the level of responsibility assumed by the auditors in the
preparation of the audit;
(c) the initial selection of and changes in significant accounting
policies or their application, and the effect of significant
accounting policies in controversial or emerging areas for which
there is a lack of authoritative consensus or guidance;
(d) the process used by management of the Funds in formulating
particularly sensitive accounting estimates and the basis for the
auditors' conclusions regarding the reasonableness of those
estimates;
(e) the auditors' responsibility for other information in documents
containing audited financial statements, any procedures performed,
and the results of such procedures;
(f) any disagreements with management, whether or not satisfactorily
resolved, about matters that individually or in the aggregate could
be significant to a Fund's financial statements or the auditors'
report;
(g) any consultations with other accountants and significant matters
that were the subject of such consultations;
(h) any major issues discussed with management in connection with the
initial or recurring retention of the auditors, including the
application of accounting principles and auditing standards; and
(i) any serious difficulties relating to the performance of the audit
that the auditors encountered with management.
4. The Audit Committee shall prepare any report, including any
recommendation of the Audit Committee, required by the rules of
31
the Securities and Exchange Commission to be included in the Funds'
proxy statements.
5. The Audit Committee shall review this charter at least annually and
recommend any changes to the full Board of Trustees; and
6. The Audit Committee shall report its activities to the full Board of
Trustees on a regular basis and make such recommendations with respect
to the above and other matters as the Audit Committee may deem necessary
or appropriate.
V. RESOURCES AND AUTHORITY OF THE AUDIT COMMITTEE. The Audit Committee shall
have the resources and authority appropriate to discharge its
responsibilities, including the authority to engage independent auditors for
special audits, reviews and other procedures and to retain special counsel
and other experts or consultants at the expense of the Funds.
32
COLONIAL CALIFORNIA INSURED MUNICIPAL FUND
This Proxy Solicited on Behalf of the Board of Trustees
The undersigned shareholder hereby appoints Heidi A. Hoefler, Russell L.
Kane, Jean S. Loewenberg, Joseph R. Palombo, Vincent P. Pietropaolo, Joseph T.
Turo and Rosemary D. Van Antwerp, each of them proxies of the undersigned, with
power of substitution, to vote at the Annual Meeting of Shareholders of Colonial
California Insured Municipal Fund to be held in Boston, Massachusetts, on
Wednesday, May 21, 2003, and at any adjournments, as follows on the reverse side
of this card.
This proxy, when properly executed, will be voted in the manner directed herein
and, absent direction, will be voted FOR the items on the reverse side. This
proxy will be voted in accordance with the holder's best judgment as to any
other matter.
The Board of Trustees recommends a vote FOR the following items set forth on the
reverse side.
-------------------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN ON REVERSE AND RETURN PROMPTLY
IN THE ENCLOSED ENVELOPE
-------------------------------------------------------------------------
HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?
---------------------------------------------
----------------------------------------------
---------------------------------------------
----------------------------------------------
---------------------------------------------
----------------------------------------------
COLONIAL CALIFORNIA INSURED MUNICIPAL FUND
MUNICIPAL AUCTION RATE CUMULATIVE PREFERRED SHARES
This Proxy Solicited on Behalf of the Board of Trustees
The undersigned shareholder hereby appoints Heidi A. Hoefler, Russell L. Kane,
Jean S. Loewenberg, Joseph R. Palombo, Vincent P. Pietropaolo, Joseph T. Turo
and Rosemary D. Van Antwerp, each of them proxies of the undersigned, with power
of substitution, to vote at the Annual Meeting of Shareholders of Colonial
California Insured Municipal Fund to be held in Boston, Massachusetts, on
Wednesday, May 21, 2003, and at any adjournments, as follows on the reverse side
of this card.
This proxy, when properly executed, will be voted in the manner directed herein
and, absent direction, will be voted FOR the items on the reverse side. This
proxy will be voted in accordance with the holder's best judgment as to any
other matter.
The Board of Trustees recommends a vote FOR the following items set forth on the
reverse side.
------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN ON REVERSE AND RETURN PROMPTLY
IN THE ENCLOSED ENVELOPE
------------------------------------------------------------
HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?
---------------------------------------------
----------------------------------------------
---------------------------------------------
----------------------------------------------
---------------------------------------------
----------------------------------------------
[PREFERRED SHARES]
------
X PLEASE MARK VOTES
AS IN THIS EXAMPLE
------
For All With- For All
COLONIAL CALIFORNIA INSURED MUNICIPAL FUND
1. TO ELECT FIVE TRUSTEES. Nominees hold Except (Item 1(d) of Notice) Mark box
at right if an address change or comment has been
noted on the reverse side of this card
(01) Douglas A. Hacker
(02) Richard W. Lowry
(03) William E. Mayer
(04) Charles R. Nelson
(05) Thomas E. Stitzel
Instruction: To withhold authority to vote for any individual nominee, mark the
"For all except" box and strike a line through the name(s) of the nominee(s).
Your shares will be voted for the remaining nominee(s).
2. IN THEIR DISCRETION, UPON SUCH OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.
Please sign exactly as name(s) appear(s) hereon. Joint owners should each sign
personally. When signing as attorney, executor, administrator, trustee or
guardian, please give full title as such. If a corporation, please sign in
corporate name by President or other authorized officer. If a partnership,
please sign in partnership name by authorized person.
Please be sure to sign and date this proxy
Date ______________
Shareholder sign here ___________________________
Co-owner sign here _____________________________
[COMMON SHARES]
------
X PLEASE MARK VOTES
AS IN THIS EXAMPLE
------
For All With- For All
COLONIAL CALIFORNIA INSURED MUNICIPAL FUND
1. TO ELECT THREE TRUSTEES. Nominees hold Except (Item 1(d) of Notice)
Mark box at right if an address change or comment has been
noted on the reverse side of this card
(01) Richard W. Lowry
(02) William E. Mayer
(03) Charles R. Nelson
Instruction: To withhold authority to vote for any individual nominee, mark the
"For all except" box and strike a line through the name(s) of the nominee(s).
Your shares will be voted for the remaining nominee(s).
2. IN THEIR DISCRETION, UPON SUCH OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.
Please sign exactly as name(s) appear(s) hereon. Joint owners should
each sign personally. When signing as attorney, executor, administrator,
trustee or guardian, please give full title as such. If a corporation,
please sign in corporate name by President or other authorized officer.
If a partnership, please sign in partnership name by authorized person.
Please be sure to sign and date this proxy
Date ______________
Shareholder sign here ___________________________
Co-owner sign here _____________________________
COLONIAL HIGH INCOME MUNICIPAL TRUST
This Proxy Solicited on Behalf of the Board of Trustees
The undersigned shareholder hereby appoints Heidi A. Hoefler, Russell L.
Kane, Jean S. Loewenberg, Joseph R. Palombo, Vincent P. Pietropaolo, Joseph T.
Turo and Rosemary D. Van Antwerp, each of them proxies of the undersigned, with
power of substitution, to vote at the Annual Meeting of Shareholders of Colonial
High Income Municipal Trust to be held in Boston, Massachusetts, on Wednesday,
May 21, 2003, and at any adjournments, as follows on the reverse side of this
card.
This proxy, when properly executed, will be voted in the manner directed herein
and, absent direction, will be voted FOR the items on the reverse side. This
proxy will be voted in accordance with the holder's best judgment as to any
other matter.
The Board of Trustees recommends a vote FOR the following items set forth on the
reverse side.
-----------------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN ON REVERSE AND RETURN PROMPTLY
IN THE ENCLOSED ENVELOPE
-------------------------------------------------------------------------
HAS YOUR ADDRESS CHANGED?
DO YOU HAVE ANY COMMENTS?
=============================================
---------------------------------------------
COLONIAL HIGH INCOME MUNICIPAL TRUST
MUNICIPAL AUCTION RATE CUMULATIVE PREFERRED SHARES
This Proxy Solicited on Behalf of the Board of Trustees
The undersigned shareholder hereby appoints Heidi A. Hoefler, Russell L.
Kane, Jean S. Loewenberg, Joseph R. Palombo, Vincent P. Pietropaolo, Joseph T.
Turo and Rosemary D. Van Antwerp, each of them proxies of the undersigned, with
power of substitution, to vote at the Annual Meeting of Shareholders of Colonial
High Income Municipal Trust to be held in Boston, Massachusetts, on Wednesday,
May 21, 2003, and at any adjournments, as follows on the reverse side of this
card.
This proxy, when properly executed, will be voted in the manner directed herein
and, absent direction, will be voted FOR the items on the reverse side. This
proxy will be voted in accordance with the holder's best judgment as to any
other matter.
The Board of Trustees recommends a vote FOR the following items set forth on the
reverse side.
-------------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN ON REVERSE AND RETURN
PROMPTLY IN THE ENCLOSED ENVELOPE
-------------------------------------------------------------------
HAS YOUR ADDRESS CHANGED?
DO YOU HAVE ANY COMMENTS?
=============================================
---------------------------------------------
-----------------------------------------------------------
COLONIAL HIGH INCOME MUNICIPAL TRUST
MUNICIPAL AUCTION RATE CUMULATIVE PREFERRED SHARES
(Series T Shares and Series W Shares)
This Proxy Solicited on Behalf of the Board of Trustees
The undersigned shareholder hereby appoints Heidi A. Hoefler, Russell L.
Kane, Jean S. Loewenberg, Joseph R. Palombo, Vincent P. Pietropaolo, Joseph T.
Turo and Rosemary D. Van Antwerp, each of them proxies of the undersigned, with
power of substitution, to vote at the Annual Meeting of Shareholders of Colonial
High Income Municipal Trust to be held in Boston, Massachusetts, on Wednesday,
May 21, 2003, and at any adjournments, as follows on the reverse side of this
card.
This proxy, when properly executed, will be voted in the manner directed herein
and, absent direction, will be voted FOR the items on the reverse side. This
proxy will be voted in accordance with the holder's best judgment as to any
other matter.
The Board of Trustees recommends a vote FOR the following items set forth on the
reverse side.
PLEASE VOTE, DATE AND SIGN ON REVERSE AND RETURN
PROMPTLY IN THE ENCLOSED ENVELOPE
------------------------------------------------
HAS YOUR ADDRESS CHANGED?
DO YOU HAVE ANY COMMENTS?
=============================================
---------------------------------------------
[COMMON SHARES]
------
X PLEASE MARK VOTES
AS IN THIS EXAMPLE
------
For All With- For All
COLONIAL HIGH INCOME MUNICIPAL TRUST
1. TO ELECT THREE TRUSTEES. Nominees hold Except (Item 1(a) of
Notice)
Mark box at right if an address change or comment has been
noted on the reverse side of this card
(01) Janet Langford Kelly
(02) Joseph R. Palombo
(03) Anne-Lee Verville
Instruction: To withhold authority to vote for any individual nominee,
mark the "For all except" box and strike a line through the name(s) of the
nominee(s). Your shares will be voted for the remaining nominee(s). 2. IN
THEIR DISCRETION, UPON SUCH OTHER MATTERS AS MAY PROPERLY COME BEFORE THE
MEETING. Please sign exactly as name(s) appear(s) hereon. Joint owners
should each sign personally. When signing as attorney, executor,
administrator, trustee or guardian, please give full title as such. If a
corporation, please sign in corporate name by President or other authorized
officer. If a partnership, please sign in partnership name by authorized
person.
Please be sure to sign and date this proxy Date ______________
Shareholder sign here ___________________________
Co-owner sign here _____________________________
[PREFFERED SHARES]
------
X PLEASE MARK VOTES
AS IN THIS EXAMPLE
------
For All With- For
All COLONIAL HIGH INCOME MUNICIPAL TRUST
1. TO ELECT FIVE TRUSTEES.
Nominees hold Except (Item 1(a) of Notice)
Mark box at right if an address change or comment has been
noted on the reverse side of this card
(01) Douglas A. Hacker
(02) Janet Langford Kelly
(03) Joseph R. Palombo
(04) Anne-Lee Verville
(05) Thomas E. Stitzel
Instruction: To withhold authority to vote for any individual nominee, mark the
"For all except" box and strike a line through the name(s) of the nominee(s).
Your shares will be voted for the remaining nominee(s). 2. IN THEIR DISCRETION,
UPON SUCH OTHER MATTERS AS MAY PROPERLY COME BEFORE THE MEETING. Please sign
exactly as name(s) appear(s) hereon. Joint owners should each sign personally.
When signing as attorney, executor, administrator, trustee or guardian, please
give full title as such. If a corporation, please sign in corporate name by
President or other authorized officer. If a partnership, please sign in
partnership name by authorized person.
Please be sure to sign and date this proxy Date ______________
Shareholder sign here ___________________________
Co-owner sign here _____________________________
COLONIAL INVESTMENT GRADE MUNICIPAL TRUST
This Proxy Solicited on Behalf of the
Board of Trustees
The undersigned shareholder hereby appoints Heidi A. Hoefler,
Russell L. Kane, Jean S. Loewenberg, Joseph R. Palombo, Vincent P. Pietropaolo,
Joseph T. Turo and Rosemary D. Van Antwerp, each of them proxies of the
undersigned, with power of substitution, to vote at the Annual Meeting of
Shareholders of Colonial Investment Grade Municipal Trust to be held in Boston,
Massachusetts, on Wednesday, May 21, 2003, and at any adjournments, as follows
on the reverse side of this card.
This proxy, when properly executed, will be
voted in the manner directed herein and, absent direction, will be voted FOR the
items on the reverse side. This proxy will be voted in accordance with the
holder's best judgment as to any other matter. The Board of Trustees recommends
a vote FOR the following items set forth on the reverse side.
----------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN ON REVERSE AND RETURN PROMPTLY IN THE ENCLOSED
ENVELOPE
----------------------------------------------------------------------------
HAS YOUR ADDRESS CHANGED?
DO YOU HAVE ANY COMMENTS?
=============================================
==============================================
---------------------------------------------
----------------------------------------------
COLONIAL INVESTMENT GRADE
MUNICIPAL TRUST
MUNICIPAL AUCTION RATE CUMULATIVE PREFERRED SHARES
This Proxy
Solicited on Behalf of the Board of Trustees The undersigned shareholder hereby
appoints Heidi A. Hoefler, Russell L. Kane, Jean S. Loewenberg, Joseph R.
Palombo, Vincent P. Pietropaolo, Joseph T. Turo and Rosemary D. Van Antwerp,
each of them proxies of the undersigned, with power of substitution, to vote at
the Annual Meeting of Shareholders of Colonial Investment Grade Municipal Trust
to be held in Boston, Massachusetts, on Wednesday, May 21, 2003, and at any
adjournments, as follows on the reverse side of this card. This proxy, when
properly executed, will be voted in the manner directed herein and, absent
direction, will be voted FOR the items on the reverse side.
This proxy will be
voted in accordance with the holder's best judgment as to any other matter. The
Board of Trustees recommends a vote FOR the following items set forth on the
reverse side.
----------------------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN ON REVERSE AND RETURN PROMPTLY IN THE ENCLOSED
ENVELOPE
---------------------------------------------------------------------------
HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?
=============================================
==============================================
---------------------------------------------
----------------------------------------------
[COMMON SHARES] ------ X
PLEASE MARK VOTES AS IN THIS EXAMPLE ------
For All
With-
For All
COLONIAL INVESTMENT GRADE MUNICIPAL TRUST
1. TO ELECT TWO TRUSTEES. Nominees hold Except
(Item 1(b) of Notice) Mark box at right if an address change or comment has been
noted on the reverse side of this card (01) Janet Langford Kelly (02) Joseph R.
Palombo Instruction: To withhold authority to vote for any individual nominee,
mark the "For all except" box and strike a line through the name(s) of the
nominee(s). Your shares will be voted for the remaining nominee(s).
2. IN THEIR DISCRETION, UPON SUCH OTHER MATTERS AS MAY PROPERLY
COME BEFORE THE MEETING.
Please sign exactly as name(s) appear(s) hereon. Joint owners should each sign
personally. When signing as attorney, executor, administrator, trustee or
guardian, please give full title as such. If a corporation, please sign in
corporate name by President or other authorized officer. If a partnership,
please sign in partnership name by authorized person. Please be sure to sign and
date this proxy
Date ______________
Shareholder sign here
___________________________
Co-owner sign here
_____________________________
[PREFERED SHARES] ------ X PLEASE MARK VOTES AS IN THIS EXAMPLE ------
For All
With-
For All
COLONIAL INVESTMENT GRADE MUNICIPAL TRUST
1. TO ELECT FOUR
TRUSTEES. Nominees hold Except (Item 1(b) of Notice)
Mark box at right if an
address change or comment has been noted on the reverse side of this card
(01) Douglas A. Hacker
(02) Janet Langford Kelly
(03) Joseph R. Palombo
(04) Thomas E. Stitzel
Instruction: To withhold authority to vote for any individual
nominee, mark the "For all except" box and strike a line through the name(s) of
the nominee(s). Your shares will be voted for the remaining nominee(s).
2. IN THEIR DISCRETION, UPON SUCH OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.
Please sign exactly as name(s) appear(s) hereon.
Joint owners should each sign personally. When signing as attorney,
executor, administrator, trustee or guardian, please give full title as
such. If a corporation, please sign in corporate name by President or other
authorized officer. If a partnership, please sign in partnership name by
authorized person. Please be sure to sign and date this proxy
Date
______________
Shareholder sign here
___________________________
Co-owner sign here
_____________________________
COLONIAL INTERMEDIATE HIGH INCOME FUND
This Proxy Solicited on Behalf of the Board of Trustees
The undersigned shareholder hereby appoints Heidi A. Hoefler, Russell
L. Kane, Jean S. Loewenberg, Joseph R. Palombo, Vincent P. Pietropaolo,
Joseph T. Turo and Rosemary D. VanAntwerp, each of them proxies of the
undersigned, with power of substitution, to vote at the Annual Meeting of
Shareholders of Colonial Intermediate High Income Fund to be held in
Boston, Massachusetts, on Wednesday, May 21, 2003, and at any adjournments,
as follows on the reverse side of this card.
This proxy, when properly executed, will be voted in the manner
directed herein and, absent direction, will be voted FOR the items on the
reverse side. This proxy will be voted in accordance with the holder's best
judgment as to any other matter.
The Board of Trustees recommends a vote FOR the following items set
forth on the reverse side.
-------------------------------------------------
PLEASE VOTE, DATE AND SIGN ON REVERSE AND RETURN PROMPTLY IN THE ENCLOSED
ENVELOPE
----------------------------------------------------------------
HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?
---------------------------------------------
----------------------------------------------
---------------------------------------------
----------------------------------------------
---------------------------------------------
----------------------------------------------
------
X PLEASE MARK VOTES
AS IN THIS EXAMPLE
------
For All With- For All
COLONIAL INTERMEDIATE HIGH INCOME FUND
1. TO ELECT FOUR TRUSTEES. Nominees hold Except
(Item 1(h) of Notice)
Mark box at right if an address change or comment has been
noted on the reverse side of this card
(01) Douglas A. Hacker
(02) Janet Langford Kelly
(03) John J. Neuhauser
(04) Joseph R. Palombo
Instruction: To withhold authority to vote for any individual nominee,
mark the "For all except" box and strike a line through the name(s) of the
nominee(s). Your shares will be voted for the remaining
nominee(s).
2. IN THEIR DISCRETION, UPON SUCH OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.
Please sign exactly as name(s) appear(s) hereon. Joint owners should
each sign personally. When signing as attorney, executor, administrator,
trustee or guardian, please give full title as such. If a corporation,
please sign in corporate name by President or other authorized officer. If
a partnership, please sign in partnership name by authorized person.
Please be sure to sign and date this proxy Date ______________
Shareholder sign here ___________________________
Co-owner sign here _____________________________
COLONIAL INTERMARKET INCOME TRUST I
This Proxy Solicited on Behalf of the Board of Trustees
The undersigned shareholder hereby appoints Heidi A. Hoefler, Russell
L. Kane, Jean S. Loewenberg, Joseph R. Palombo, Vincent P. Pietropaolo,
Joseph T. Turo and Rosemary D. Van Antwerp, each of them proxies of the
undersigned, with power of substitution, to vote at the Annual Meeting of
Shareholders of Colonial Intermarket Income Trust I to be held in Boston,
Massachusetts, on Wednesday, May 21, 2003, and at any adjournments, as
follows on the reverse side of this card.
This proxy, when properly executed, will be voted in the manner directed herein
and, absent direction, will be voted FOR the items on the reverse side. This
proxy will be voted in accordance with the holder's best judgment as to any
other matter.
The Board of Trustees recommends a vote FOR the following items set forth on the
reverse side.
------------------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN ON REVERSE AND RETURN PROMPTLY IN THE
ENCLOSED ENVELOPE
----------------
HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?
=============================================
------
X PLEASE MARK VOTES
AS IN THIS EXAMPLE
------
For All With- For
All
COLONIAL INTERMARKET INCOME TRUST I 1. TO ELECT THREE TRUSTEES.
Nominees hold Except (Item 1(c) of Notice) Mark box at right if an address
change or comment has been noted on the reverse side of this card
(01) Douglas A. Hacker
(02) Janet Langford Kelly
(03) Charles R. Nelson
Instruction: To withhold authority to vote for any individual nominee,
mark the "For all except" box and strike a line through the name(s) of the
nominee(s). Your shares will be voted for the remaining nominee(s).
2. IN THEIR DISCRETION, UPON SUCH OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING. Please sign exactly as name(s) appear(s) hereon. Joint
owners should each sign personally. When signing as attorney, executor,
administrator, trustee or guardian, please give full title as such. If a
corporation, please sign in corporate name by President or other authorized
officer. If a partnership, please sign in partnership name by authorized
person.
Please be sure to sign and date this proxy Date ______________
Shareholder sign here ___________________________
Co-owner sign here _____________________________
COLONIAL INSURED MUNICIPAL FUND
This Proxy Solicited on Behalf of the Board of Trustees
The undersigned shareholder hereby appoints Heidi A. Hoefler, Russell
L. Kane, Jean S. Loewenberg, Joseph R. Palombo, Vincent P. Pietropaolo,
Joseph T. Turo and Rosemary D. Van Antwerp, each of them proxies of the
undersigned, with power of substitution, to vote at the Annual Meeting of
Shareholders of Colonial Insured Municipal Fund to be held in Boston,
Massachusetts, on Wednesday, May 21, 2003, and at any adjournments, as
follows on the reverse side of this card.
This proxy, when properly executed, will be voted in the manner directed herein
and, absent direction, will be voted FOR the items on the reverse side. This
proxy will be voted in accordance with the holder's best judgment as to any
other matter.
The Board of Trustees recommends a vote FOR the following items set forth on the
reverse side.
---------------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN ON REVERSE AND RETURN PROMPTLY IN THE
ENCLOSED ENVELOPE
------------------------------------------------------------------
HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?
============================================= ---------------------
COLONIAL INSURED MUNICIPAL FUND
MUNICIPAL AUCTION RATE CUMULATIVE PREFERRED SHARES
This Proxy Solicited on Behalf of the Board of Trustees
The undersigned shareholder hereby appoints Heidi A. Hoefler, Russell
L. Kane, Jean S. Loewenberg, Joseph R. Palombo, Vincent P. Pietropaolo,
Joseph T. Turo and Rosemary D. Van Antwerp, each of them proxies of the
undersigned, with power of substitution, to vote at the Annual Meeting of
Shareholders of Colonial Insured Municipal Fund to be held in Boston,
Massachusetts, on Wednesday, May 21, 2003, and at any adjournments, as
follows on the reverse side of this card.
This proxy, when properly executed, will be voted in the manner directed herein
and, absent direction, will be voted FOR the items on the reverse side. This
proxy will be voted in accordance with the holder's best judgment as to any
other matter.
The Board of Trustees recommends a vote FOR the following items set forth on the
reverse side.
----------------------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN ON REVERSE AND RETURN PROMPTLY IN THE
ENCLOSED ENVELOPE
--------------------------------------------------------------------------
HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?
============================================= --------------------
[PREFERRED SHARES]
------
X PLEASE MARK VOTES
AS IN THIS EXAMPLE
------
For All With- For
All
COLONIAL INSURED MUNICIPAL FUND 1. TO ELECT FIVE TRUSTEES. Nominees
hold Except (Item 1(e) of Notice) Mark box at right if an address change or
comment has been noted on the reverse side of this card
(01) Douglas A. Hacker
(02) Richard W. Lowry
(03) William E. Mayer
(04) Charles R. Nelson
(05) Thomas E. Stitzel
Instruction: To withhold authority to vote for any individual nominee,
mark the "For all except" box and strike a line through the name(s) of the
nominee(s). Your shares will be voted for the remaining nominee(s).
2. IN THEIR DISCRETION, UPON SUCH OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.
Please sign exactly as name(s) appear(s) hereon. Joint owners should each sign
personally. When signing as attorney, executor, administrator, trustee or
guardian, please give full title as such. If a corporation, please sign in
corporate name by President or other authorized officer. If a partnership,
please sign in partnership name by authorized person.
Please be sure to sign and date this proxy
Date ______________
Shareholder sign here ___________________________
Co-owner sign here _____________________________
[COMMON SHARES]
------
X PLEASE MARK VOTES
AS IN THIS EXAMPLE
------
For All With- For
All
COLONIAL INSURED MUNICIPAL FUND
1. TO ELECT THREE TRUSTEES. Nominees
hold Except (Item 1(e) of Notice) Mark box at right if an address change or
comment has been noted on the reverse side of this card
(01) Richard W. Lowry
(02) William E. Mayer
(03) Charles R. Nelson
Instruction: To withhold authority to vote for any individual nominee, mark the
"For all except" box and strike a line through the name(s) of the nominee(s).
Your shares will be voted for the remaining nominee(s).
2. IN THEIR DISCRETION,
UPON SUCH OTHER MATTERS AS MAY PROPERLY COME BEFORE THE MEETING. Please sign
exactly as name(s) appear(s) hereon. Joint owners should each sign personally.
When signing as attorney, executor, administrator, trustee or guardian, please
give full title as such. If a corporation, please sign in corporate name by
President or other authorized officer. If a partnership, please sign in
partnership name by authorized person.
Please be sure to sign and date this proxy
Date ______________
Shareholder sign here ___________________________
Co-owner sign here _____________________________
COLONIAL NEW YORK INSURED MUNICIPAL FUND
This Proxy Solicited on Behalf of the Board of Trustees
The undersigned shareholder hereby appoints Heidi A. Hoefler, Russell
L. Kane, Jean S. Loewenberg, Joseph R. Palombo, Vincent P. Pietropaolo,
Joseph T. Turo and Rosemary D. Van Antwerp, each of them proxies of the
undersigned, with power of substitution, to vote at the Annual Meeting of
Shareholders of Colonial New York Insured Municipal Fund to be held in
Boston, Massachusetts, on Wednesday, May 21, 2003, and at any adjournments,
as follows on the reverse side of this card.
This proxy, when properly executed, will be voted in the manner directed herein
and, absent direction, will be voted FOR the items on the reverse side. This
proxy will be voted in accordance with the holder's best judgment as to any
other matter.
The Board of Trustees recommends a vote FOR the following items set forth on the
reverse side.
-----------------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN ON REVERSE AND RETURN PROMPTLY IN THE
ENCLOSED ENVELOPE
---------------------------------------------------------------------
HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?
=============================================
COLONIAL NEW YORK INSURED MUNICIPAL FUND
MUNICIPAL AUCTION RATE CUMULATIVE PREFERRED SHARES
This Proxy Solicited on Behalf of the Board of Trustees
The undersigned shareholder hereby appoints Heidi A. Hoefler, Russell
L. Kane, Jean S. Loewenberg, Joseph R. Palombo, Vincent P. Pietropaolo,
Joseph T. Turo and Rosemary D. Van Antwerp, each of them proxies of the
undersigned, with power of substitution, to vote at the Annual Meeting of
Shareholders of Colonial New York Insured Municipal Fund to be held in
Boston, Massachusetts, on Wednesday, May 21, 2003, and at any adjournments,
as follows on the reverse side of this card.
This proxy, when properly executed, will be voted in the manner directed herein
and, absent direction, will be voted FOR the items on the reverse side. This
proxy will be voted in accordance with the holder's best judgment as to any
other matter.
The Board of Trustees recommends a vote FOR the following items set forth on the
reverse side.
--------------------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN ON REVERSE AND RETURN PROMPTLY IN THE ENCLOSED
ENVELOPE
-----------------------------------------------------------------------
HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?
============================================= --------------
[PREFERRED SHARES]
------
X PLEASE MARK VOTES
AS IN THIS EXAMPLE
------
For All With- For All
COLONIAL NEW YORK INSURED MUNICIPAL FUND
1. TO ELECT FIVE TRUSTEES. Nominees hold Except (Item 1(f) of Notice)
Mark box at right if an address change or comment has been noted on the
reverse side of this card
(01) Douglas A. Hacker
(02) Richard W. Lowry
(03) William E. Mayer
(04) Charles R. Nelson
(05) Thomas E. Stitzel
Instruction: To withhold authority to vote for any individual nominee,
mark the "For all except" box and strike a line through the name(s) of the
nominee(s). Your shares will be voted for the remaining nominee(s).
2. IN THEIR DISCRETION, UPON SUCH OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.
Please sign exactly as name(s) appear(s) hereon. Joint owners should each sign
personally. When signing as attorney, executor, administrator, trustee or
guardian, please give full title as such. If a corporation, please sign in
corporate name by President or other authorized officer. If a partnership,
please sign in partnership name by authorized person.
Please be sure to sign and date this proxy Date ______________
Shareholder sign here ___________________________
Co-owner sign here _____________________________
[COMMON SHARES]
------
X PLEASE MARK VOTES
AS IN THIS EXAMPLE
------
For All With- For All
COLONIAL NEW YORK INSURED MUNICIPAL FUND
1. TO ELECT THREE TRUSTEES. Nominees hold Except (Item 1(f) of Notice)
Mark box at right if an address change or comment has been noted on the
reverse side of this card
(01) Richard W. Lowry
(02) William E. Mayer
(03) Charles R. Nelson
Instruction: To withhold authority to vote for any individual nominee,
mark the "For all except" box and strike a line through the name(s) of the
nominee(s). Your shares will be voted for the remaining nominee(s).
2. IN
THEIR DISCRETION, UPON SUCH OTHER MATTERS AS MAY PROPERLY COME BEFORE THE
MEETING. Please sign exactly as name(s) appear(s) hereon. Joint owners
should each sign personally. When signing as attorney, executor,
administrator, trustee or guardian, please give full title as such. If a
corporation, please sign in corporate name by President or other authorized
officer. If a partnership, please sign in partnership name by authorized
person.
Please be sure to sign and date this proxy Date ______________
Shareholder sign here ___________________________
Co-owner sign here _____________________________
COLONIAL MUNICIPAL INCOME TRUST
This Proxy Solicited on Behalf of the Board of Trustees
The undersigned shareholder hereby appoints Heidi A. Hoefler, Russell
L. Kane, Jean S. Loewenberg, Joseph R. Palombo, Vincent P. Pietropaolo,
Joseph T. Turo and Rosemary D. Van Antwerp, each of them proxies of the
undersigned, with power of substitution, to vote at the Annual Meeting of
Shareholders of Colonial Municipal Income Trust to be held in Boston,
Massachusetts, on Wednesday, May 21, 2003, and at any adjournments, as
follows on the reverse side of this card.
This proxy, when properly executed, will be voted in the manner directed herein
and, absent direction, will be voted FOR the items on the reverse side. This
proxy will be voted in accordance with the holder's best judgment as to any
other matter.
The Board of Trustees recommends a vote FOR the following items set forth on the
reverse side.
------------------------------------------------------------
PLEASE VOTE,
DATE AND SIGN ON REVERSE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE
-------
HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?
============================================= --------------------
COLONIAL MUNICIPAL INCOME TRUST
MUNICIPAL AUCTION RATE CUMULATIVE PREFERRED SHARES
This Proxy Solicited on Behalf of the Board of Trustees
The undersigned shareholder hereby appoints Heidi A. Hoefler, Russell
L. Kane, Jean S. Loewenberg, Joseph R. Palombo, Vincent P. Pietropaolo,
Joseph T. Turo and Rosemary D. Van Antwerp, each of them proxies of the
undersigned, with power of substitution, to vote at the Annual Meeting of
Shareholders of Colonial Municipal Income Trust to be held in Boston,
Massachusetts, on Wednesday, May 21, 2003, and at any adjournments, as
follows on the reverse side of this card.
This proxy, when properly executed, will be voted in the manner directed herein
and, absent direction, will be voted FOR the items on the reverse side. This
proxy will be voted in accordance with the holder's best judgment as to any
other matter.
The Board of Trustees recommends a vote FOR the following items set forth on the
reverse side.
-----------------------------------------------------------------------------
PLEASE VOTE,
DATE AND SIGN ON REVERSE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE
-------------------------------------------------------------------------------
HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?
============================================= ------------------
[COMMON SHARES]
------
X PLEASE MARK VOTES
AS IN THIS EXAMPLE
------
For All With- For All
COLONIAL MUNICIPAL INCOME TRUST
1. TO ELECT TWO TRUSTEES. Nominees hold Except (Item 1(g) of Notice)
Mark box at right if an address change or comment has been noted on the
reverse side of this card
(01) Janet Langford Kelly
(02) Charles R. Nelson
Instruction: To withhold authority to vote for any individual nominee,
mark the "For all except" box and strike a line through the name(s) of the
nominee(s). Your shares will be voted for the remaining nominee(s).
2. IN THEIR DISCRETION, UPON SUCH OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.
Please sign exactly as name(s) appear(s) hereon. Joint owners should
each sign personally. When signing as attorney, executor, administrator,
trustee or guardian, please give full title as such. If a corporation,
please sign in corporate name by President or other authorized officer. If
a partnership, please sign in partnership name by authorized person.
Please be sure to sign and date this proxy Date ______________
Shareholder sign here ___________________________
Co-owner sign here _____________________________
[PREFERED SHARES]
------
X PLEASE MARK VOTES
AS IN THIS EXAMPLE
------
For All With- For All
COLONIAL MUNICIPAL INCOME TRUST
1. TO ELECT FOUR TRUSTEES. Nominees hold Except (Item 1(g) of Notice)
Mark box at right if an address change or comment has been
noted on the reverse side of this card
(01) Douglas A. Hacker
(02) Janet Langford Kelly
(03) Charles R. Nelson
(04) Thomas E. Stitzel
Instruction: To withhold authority to vote for any individual nominee,
mark the "For all except" box and strike a line through the name(s) of the
nominee(s). Your shares will be voted for the remaining nominee(s).
2. IN THEIR DISCRETION, UPON SUCH OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING. Please sign exactly as name(s) appear(s) hereon. Joint
owners should each sign personally. When signing as attorney, executor,
administrator, trustee or guardian, please give full title as such. If a
corporation, please sign in corporate name by President or other authorized
officer. If a partnership, please sign in partnership name by authorized
person.
Please be sure to sign and date this proxy Date ______________
Shareholder sign here ___________________________
Co-owner sign here _____________________________