Six Columbia Funds Received 2008 Lipper Fund Awards

BOSTON, April 10 /PRNewswire/ -- Columbia Management announced that six of its funds received 2008 Lipper Fund Awards for their performance for the three-, five- or 10-year periods ending December 31, 2007. These awards were presented at the 2008 Lipper Fund Awards event last night in New York City and are given to funds that have provided superior consistency and riskadjusted returns when compared to a group of similar funds.

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"Columbia Management has an exceptional team of investment professionals and we are very proud of the performance they are delivering to investors," said Michael Jones, president, Columbia Management. "While the performance of Lipper award-winning managers speaks for itself, this recognition underscores our dedication to strive to produce consistent, repeatable investment returns for clients."

The Columbia funds recognized as part of this year's Lipper Fund Awards include:

-- Columbia Mid Cap Value Fund; Z (NAMAX). (#1 of 237 funds in the Mid Cap Value category for the three-year period as of 12/31/2007) -- Columbia Convertible Securities Fund; A (PACIX), (#1 of 36 funds in the Convertible Securities Funds for the 10-year period as of 12/31/2007) -- Columbia Technology Fund; Z (CMTFX). (#1 of 221 funds in the Science and Technology in the category for the five-year period as of 12/31/2007) -- Columbia Oregon Intermediate Municipal Bond Fund; Z (CMBFX). (#1 of 73 funds in the Other States Intermediate Muni Debt Funds category for the 10-year period as of 12/31/2007) -- Columbia Short Term Municipal Bond Fund; Z (NSMIX). (#1 of 54 funds in the Short Municipal Debt Funds category for the three-year period as of 12/31/2007) -- Columbia New York Intermediate Municipal Bond Fund; Z (GNYTX). (#1 of 29 funds in the New York Intermediate Municipal Debt category for the five-year period as of 12/31/2007)

The Lipper Fund Awards are presented annually by Lipper, a leading global mutual fund rating and research firm. The awards program highlights funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers. The awards are awarded to funds in 21 countries in Asia, Europe and the United States.

Rankings do not take sales charges into account and are based on total return, net of expenses and includes reinvested dividends. Lipper scores for Consistent Return reflect funds' historical risk-adjusted returns, measured in local currency, relative to peers. Funds registered for sale in a given country are selected and then scores for Consistent Return are computed for all Lipper classifications with five or more distinct portfolios. These calculations span equity, mixed asset and bond funds. The scores are subject to change every month and are calculated for the following periods: three- year, five-year, ten-year, and overall. The overall calculation is based on an equal-weighted average of percentile ranks for the Consistent Return metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each classification are named Lipper Leaders for Consistent Return, the next 20% receive a rating of 4, the middle 20% are rated 3, the next 20% are rated 2, and the lowest 20% are rated 1. Source: http://www.lipperweb.com/ .

Class Z shares have limited eligibility and the investment minimum requirement may vary. Only eligible investors may purchase Class Z shares of the fund, directly or by exchange. Please see the fund's prospectus for eligibility, and other details. Performance results for other share classes will vary.

Additional information on the Columbia funds receiving 2008 Lipper Fund Awards

Columbia Mid Cap Value Fund; Z Shares ranked 18 out of 194 funds for the five-year period, ending 12/31/2007. Columbia Mid Cap Value Fund; A Shares ranked 11 out of 237 funds for the three-year period and ranked 19 out of 194 funds for the five-year period, respectively, ending 12/31/2007.

Columbia Convertible Securities Fund; A Shares ranked 42 out of 59 funds for the three-year period and 31 out of 53 funds for the five-year period, respectively, ending 12/31/2007.

Columbia Technology Fund; Z Shares ranked 7 out of 239 funds for the three-year period ending 12/31/2007. Columbia Technology Fund; A Shares ranked 9 out of 239 funds for the three-year period and ranked 2 out of 221 funds for the five-year period, respectively, ending 12/31/2007.

Columbia Oregon Intermediate Municipal Bond Fund; Z Shares ranked 4 out of 105 funds for the three-year period and 2 out of 98 funds for the five-year period, respectively, ending 12/31/2007. Columbia Oregon Intermediate Municipal Bond Fund; A Shares ranked 12 out of 105 funds for the three-year period and ranked 4 out of 98 funds for the five-year period, respectively, ending 12/31/2007.

Columbia Short Term Municipal Bond Fund; Z Shares ranked 3 out of 44 funds for the five-year period and 17 out of 24 funds for the 10-year period, respectively, ending 12/31/2007. Columbia Short Term Municipal Bond Fund; A Shares ranked 6 out of 54 funds for the three-year period and ranked 6 out of 44 funds for the five-year period and 6 out of 24 funds for the 10-year period, respectively, ending 12/31/2007.

Columbia New York Intermediate Municipal Bond Fund; Z Shares ranked 10 out of 31 funds for the three-year period and 3 out of 15 funds for the 10-year period, respectively, ending 12/31/2007. Columbia New York Intermediate Municipal Bond Fund; A Shares ranked 18 out of 31 funds for the three-year period and ranked 25 out of 29 funds for the five-year period, respectively, ending 12/31/2007.

Past performance is no guarantee of future results.

Equity securities are subject to stock market fluctuations that occur in response to economic and business developments. Investing in fixed-income securities may involve certain risks, including the credit quality of individual issuers, possible prepayments, market or economic developments and yields and share price fluctuations due to changes in interest rates.

When interest rates go up, bond prices typically drop and vice versa. There is no guarantee investors will achieve their investment objectives.

Investors should carefully consider the investment objectives, risks, charges and expenses of any Columbia fund before investing. Contact your Columbia Management representative for a prospectus, which contains this and other important information about the fund. Read it carefully before investing.

Columbia Management and its Affiliates

With $643.5 billion overall under management (as of December 31, 2007) and a history that dates to the early 1900s, Columbia Management and its affiliates make up one of the nation's largest and most experienced asset management companies. Columbia offers a comprehensive array of investment solutions, including equity, fixed-income and cash strategies to institutions, corporations, advisors and high-net-worth investors. To learn more about Columbia Management, visit http://www.columbiamanagement.com/ .

Columbia Management and its affiliates comprise the wealth and investment management division of Bank of America Corporation. As of December 31, 2007, Columbia Management and its affiliates' managed assets includes assets under the discretionary management of Columbia Management Advisors, LLC ($370.2 billion); Columbia Wanger Asset Management, L.P. ($36.8 billion); U.S. Trust, Bank of America Private Wealth Management ($225.2 billion); Premier Banking & Investments ($22.9 billion), and United States Trust Company, National Association, including its subsidiary, UST Advisers, Inc. ($112.3 billion). Please note that, when the assets for these entities are aggregated, the total assets will be greater than the Columbia Management and its affiliates' assets as a result of sub advisory relationships between the various entities.

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, nearly 19,000 ATMs and award-winning online banking with nearly 24 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Bank of America Corporation stock is listed on the New York Stock Exchange. http://www.bankofamerica.com/ .

About Lipper

Lipper, a wholly-owned subsidiary of Reuters, provides independent insight on global collective investments including mutual funds, retirement funds, hedge funds, fund fees and expenses to the asset management and media communities. Lipper is the world's leading fund research and analysis organization covering over 177,000 share classes and over 98,000 funds in 53 registered for sale (RFS) universes. It provides the free Lipper Leader ratings for mutual funds registered for sale in 27 countries. Additional information is available at http://www.lipperweb.com/ .

Columbia Management Group, LLC ("Columbia Management") is the investment management division of Bank of America Corporation. Columbia Management entities furnish investment management services and products for institutional and individual investors. Columbia Funds and Excelsior Funds are distributed by Columbia Management Distributors, Inc., member FINRA http://www.finra.org/index.htm and SIPC http://www.sipc.org/ . Columbia Management Distributors, Inc. is part of Columbia Management and an affiliate of Bank of America Corporation.

NOT FDIC INSURED May Lose Value

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