Board Members of Tri-Continental Corporation Elect New Director to Board Who
Will Serve as Its New Chair
BOSTON -- November 20, 2013
The Board of Directors (the Board) of Tri-Continental Corporation (the
Corporation) (NYSE:TY) today held a meeting (the Meeting) at which its members
considered and, thereafter, unanimously elected William P. Carmichael to the
Corporation’s Board. Mr. Carmichael’s service with the Board will commence on
January 1, 2014, at which time he will serve as chairman of the Board, per
action at the Meeting by the Board’s existing members. He will also serve on
the Board's Governance Committee, Compliance Committee, Contracts Committee,
Executive Committee and Investment Review Committee. Mr. Stephen R. Lewis,
Jr., the Board’s current chairman, is retiring from his service as chairman of
the boards of all of the Columbia Funds, including the Corporation, effective
January 1, 2014. Thereafter, he will continue to serve as a member of the
Board, subject to his re-election by the Corporation's stockholders at their
next annual meeting. Also effective January 1, 2014, Mr. Carmichael will
commence service as chairman of the board of certain open-end Columbia funds.
Mr. Carmichael has, since 2003, served on the board of trustees of certain
other funds in the Columbia Family of Funds, of which the Corporation is a
part. Mr. Carmichael has agreed to stand for election by stockholders at the
Corporation’s 2014 Annual Meeting of Stockholders. Below is a biography
relating to present and past (within 5 years) directorships/trusteeships held
by Mr. Carmichael.
In addition to his service as trustee to certain of the funds in the Columbia
Family of Funds, Mr. Carmichael is a director of Cobra Electronics Corporation
(electronic equipment manufacturer), The Finish Line (athletic shoes and
apparel) and International Textile Corp. He is a former trustee ofBank of
America Funds Series Trust, and a former director of McMoRan Exploration
Company (oil and gas exploration and development), Spectrum Brands, Inc.
(consumer products) and Simmons Company (bedding).
You should consider the investment objectives, risks, charges, and expenses of
the Corporation carefully before investing. A prospectus containing
information about the Corporation (including its investment objectives, risks,
charges, expenses, and other information) may be obtained by contacting your
financial advisor or Columbia Management Investment Services Corp. at
800-345-6611. The prospectus can also be found on the Securities and Exchange
Commission’s EDGAR database. The prospectus should be read carefully before
investing in the Corporation. There is no guarantee that the Corporation’s
investment goals/objectives will be met or that distributions will be made,
and you could lose money.
The net asset value of the Corporation’s shares may not always correspond to
their market price. Shares of closed-end funds frequently trade at a discount
from their net asset value. The Corporation’s share price may be adversely
affected if the market value of its portfolio securities falls, fails to rise,
or fluctuates due to factors affecting a single issuer, sector of the economy,
industry or the market as a whole.
The Corporation is managed by Columbia Management Investment Advisers, LLC.
This material is distributed by Columbia Management Investment Distributors,
Inc., member FINRA.
Past performance does not guarantee future results.
NOT FDIC INSURED · MAY LOSE VALUE · NO BANK GUARANTEE · NOT A DEPOSIT · NOT
INSURED BY ANY FEDERAL GOVERNMENT AGENCY
© 2013 Columbia Management Investment Advisers, LLC. All rights reserved.
For Tri-Continental Corporation
Gary Terpening, 212-850-1533
Steven Connolly, 612-671-4146
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