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Seligman Press Release

February 21, 2007 Archived Press Releases  
 
For More Information Contact: Mary Ann Susco
Corporate Communications
J. & W. Seligman & Co. Incorporated
(212) 850-1382
suscom@jwseligman.com 		 
  STOCKHOLDER CONTACT:
Marco Acosta
800-597-6068 (Option #1)
acostam@jwseligman.com 		 
 
 

Tri-Continental Corporation (NYSE: TY) Declares
Distribution Of Capital Gains

  NEW YORK, February 21, 2007 – At a meeting of the Board of Directors of Tri-Continental Corporation (NYSE: TY) on Tuesday, February 20, 2007, the Board declared a long-term capital gain distribution of $0.12 per share from net gain realized on investments through December 31, 2006.  The distribution will be paid on March 27, 2007 to Common Stockholders of record March 20, 2007. Common Stockholders will be paid the distribution in accordance with their capital gain payment option.

Brian T. Zino, President of the Corporation, explained that the $0.12 capital gain represents Tri-Continental’s 2006 realized net capital gains in excess of its capital loss carryforward. “The elimination of the tax loss carryforward will allow the Corporation to distribute all future net realized capital gains to Stockholders,” he said.  “Tri-Continental’s investment process and closed-end structure have enabled the Corporation to continue to provide growth of capital and income for our Stockholders.”


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This information is authorized for use only in the case of concurrent or prior delivery of the offering prospectus of the Corporation. You should consider the investment objectives, risks, charges, and expenses of the Corporation carefully before investing. The prospectus, which contains information about these factors and other information about the Corporation, should be read carefully before investing in the Corporation. You can obtain the Fund’s, prospectus and stockholder reports by clicking on the respective links. These reports and other information are also available on the Securities and Exchange Commission’s EDGAR Database.

Tri-Continental is managed by J. & W. Seligman & Co. Incorporated (JWS), a New York-based investment manager and advisor, which was founded in 1864. Seligman Advisors, Inc. is the principal underwriter of the Seligman mutual funds managed by JWS. Seligman Services, Inc. provides client services to shareholders of Tri-Continental. Seligman Advisors, Inc. and Seligman Services, Inc. are wholly-owned subsidiaries of JWS.
 

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