Seligman Press Release

May 30, 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) HOLDS 77TH ANNUAL MEETING OF STOCKHOLDERS Stockholders Elect Three Directors and Approve Proposal for Managed Distribution Policy
	NEW YORK, May 30, 2007 – Tri-Continental Corporation (NYSE: TY) today held its 2007 annual meeting of Stockholders in Baltimore, Maryland. Stockholders were asked to vote on three recommendations: the election of three Directors, approval of a new Distribution Policy, and the ratification of Deloitte & Touche LLP as auditors for 2007. The three re-elected Directors are Frank A. McPherson, Leroy C. Richie and John F. Maher, whose current terms would have expired at the 2007 Annual Meeting. Their new terms will expire in 2010. Over 90 percent of the votes cast voted in favor of the new Distribution Policy that provides for quarterly distributions to Stockholders equal to 2.75% of the net asset value (NAV) attributable to the Fund’s common stock at the end of the prior calendar quarter (or approximately 11% annually), consisting of distributions of net income and one or both of net realized capital gains, and return of capital. The first payment is expected to be declared on June 1, 2007. Brian T. Zino, President of Tri-Continental Corporation, explained that the new Distribution Policy would provide regular, periodic distributions to Stockholders. “Importantly, the Corporation’s investment objective and closed-end structure remain unchanged, and Stockholders will continue to be able to fully maintain their investment in the Corporation by reinvesting all of their distributions in shares of the Corporation.” Mr. Zino added that distribution policies, such as the one being adopted, have historically had a favorable impact on the market price of closed-end fund shares relative to their net asset value trading at lower discounts or at premiums. “We are pleased that Stockholders have overwhelmingly voted in favor of the new Distribution Policy,” he said. Stockholders also ratified the appointment of Deloitte & Touche LLP as independent auditors of Tri-Continental for 2007. Deloitte & Touche LLP and its predecessor firms have been auditors for Tri-Continental since its inception in 1929.