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Seligman Press Release

August 20, 2007 Archived Press Releases  
 
For More Information Contact: Mary Ann Susco
Corporate Communications
J. & W. Seligman & Co. Incorporated
(212) 850-1382
suscom@jwseligman.com 		 
  SHAREHOLDER CONTACT:
Marco Acosta
1-800-597-6068 (Option #1)
acostam@jwseligman.com 		 
 
 

Tri-Continental Corporation (NYSE: TY) Declares
Third Quarter Distribution

  NEW YORK, August 20, 2007 – The Board of Directors of Tri-Continental Corporation (NYSE: TY) today declared a third quarter distribution of $0.755 per share of common stock and $0.625 per share of preferred stock. Distributions on common stock will be paid on September 20, 2007 to Stockholders of record on September 11, 2007, and distributions on preferred stock will be paid on October 1, 2007 to Stockholders of record on September 11, 2007. The ex-dividend date for both the common stock and for the preferred stock is September 7, 2007. Common Stockholders may elect to receive all or a portion of their distribution in additional shares.

The $0.755 per share distribution on the common stock is in accordance with the Corporation’s new distribution policy approved by Stockholders on May 30, 2007. The new distribution policy calls for quarterly distributions equal to 2.75% of the net asset value (NAV) attributable to the Corporation’s common stock at the end of the prior calendar quarter (or approximately 11% annually), consisting of distributions of income, and one or both of net realized capital gains and returns of capital. The final determination of the sources of all distributions in 2007 for tax purposes, including the percentage of qualified dividend income, will be made after year-end.


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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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Past performance is not indicative of future results, and there can be no guarantee as to the accuracy of market forecasts. Opinions, estimates, and forecasts may be changed without notice. This material is not an offer, or a solicitation of an offer, to purchase any securities, including shares of any mutual fund, unless preceded or accompanied by a prospectus. The views and opinions expressed are provided for general information only, and do not constitute specific tax, legal, or investment advice to, or recommendations for, any person. We suggest that you consult your financial or tax advisor, accountant, or attorney with regard to your specific situation. The information in this Website is directed at, and is intended for distribution to and use by, US persons only. It is not intended for distribution to, or use by, any person in any jurisdiction or country where such distribution would be contrary to local law or regulation, including the United Kingdom and Hong Kong. None of the services, investments or mutual funds referred to in this Website are intended for UK investors and prospectuses in respect of them will not be distributed to, and agreements in respect of them will not be entered into with, persons resident in the UK or Hong Kong, or any other territory, except where such agreements or distribution would not be contrary to local law or regulation. J. & W. Seligman & Co. Incorporated is an investment advisor registered in the United States with the US Securities and Exchange Commission, and is not licensed or registered in any other jurisdiction. © J. & W. Seligman & Co. Incorporated, 2003. All rights reserved.

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