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Seligman Press Release

November 21, 2006 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) Directors Re-Elected
  NEW YORK, November 21, 2006 – Tri-Continental Corporation (NYSE: TY) today announced the final results of the September 28, 2006 Special Meeting of Stockholders. (and its October 4, 2006 adjournment solely in respect of the proposal to amend Tri-Continental’s charter).

The Inspector of Elections reports that the three incumbent Directors nominated for re-election by Tri-Continental’s Board were re-elected with an average of approximately 42% of the vote. An alternate slate of directors proposed by a dissident group of stockholders received an average of approximately 28% of the vote.

In addition, on a proposal to amend Tri-Continental’s charter to reduce the quorum requirements for future stockholder meetings, the results were approximately 42% in favor and approximately 30% opposed. While the majority of votes cast were in favor of the amendment, the proposal did not achieve the required majority of all votes entitled to be cast.


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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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