Seligman Press Release

April 6, 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) Announces Agreement with Stockholder Group; Proposal for Managed Distribution Policy to be Voted on by Stockholders
	NEW YORK, April 6, 2007-- Tri-Continental Corporation (NYSE: TY), today announced that it had entered into an agreement with a stockholder group (the “Group”) including Western Investment LLC that will avoid a proxy contest for the election of directors at the Fund’s upcoming 2007 annual meeting of stockholders, which is scheduled for May 30, 2007. Under the agreement, members of the Group have agreed to withdraw their nominees for election to the Fund’s board and to withdraw a stockholder proposal that was to be presented at the annual meeting. Additionally, the members of the Group have agreed to cast their votes at the annual meeting in accordance with the recommendations of the Fund’s board. Brian T. Zino, President of the Fund, said: “We believe the agreement with the Group is in the best interests of the Fund, as it allows us to resolve the differences between the Group and the Fund and enables the Fund to limit the costs, distraction and disruptions associated with a proxy fight with the Group and with potential litigation. Submitting the proposed distribution policy to stockholders will permit the stockholders to decide whether or not they wish the Fund to implement such a policy. Importantly, stockholders would continue to have the opportunity to maintain their investment in Tri-Continental by taking their distributions under the proposed distribution policy in additional shares. Alternatively, they may elect to receive all or a part of such distributions in cash.” Additional Information and Where to Find It This press release may be deemed to be solicitation material with respect to the forthcoming annual proxy statement of Tri-Continental Corporation, to be filed with the U.S. Securities and Exchange Commission (the “SEC”). INVESTORS AND SECURITY HOLDERS OF TRI-CONTINENTAL CORPORATION ARE ADVISED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE. The final proxy statement will be mailed to stockholders of Tri-Continental Corporation. Investors and security holders may obtain a free copy of the proxy statement when it becomes available, and other documents filed by Tri-Continental Corporation with the SEC, at the SEC’s web site at http://www.sec.gov. Free copies of the proxy statement when it becomes available, and Tri-Continental Corporation’s other filings with the SEC may also be obtained by writing to: J. & W. Seligman & Co. Incorporated, 100 Park Avenue, New York, NY 10017, Attention: Investor Relations. Participants in the Solicitation Tri-Continental Corporation may be deemed to be soliciting proxies from its stockholders in favour of the proposal. Information regarding certain of Tri-Continental Corporation’s directors and executive officers is available in Tri-Continental Corporation’s proxy statement for its 2006 annual meeting of stockholders, which was filed with the SEC on February 13, 2006. Additional information regarding the interests of Tri-Continental Corporation will be included in the proxy statement and the other relevant documents filed with the SEC when they become available.