Columbia Management Streamlines Mutual Fund Offerings

Columbia Management announced that it has proposed 62 fund mergers as part of the integration of Columbia Management and RiverSource Investments. These proposals are subject to final approval by the funds’ boards of directors/trustees and are ultimately subject to shareholder approval.

Ameriprise Financial, Inc. completed its acquisition of Columbia Management Group, LLC’s long-term asset management business in May. Columbia Management Investment Advisers is the eighth largest long-term asset manager in the U.S. with $327 billion in assets under management as of June 30, 2010.

“These proposed mergers are an important milestone in the integration of Columbia Management with RiverSource Investments,” said Kevin Connaughton, head of mutual funds. “We believe the mergers would strengthen and streamline our product line up while providing fund shareholders and their financial advisors with excellent products and greater cost-efficiency.”

“Our goal is to provide a compelling and diversified lineup of strong-performing retail and institutional products that provide investment solutions for our clients,” said Chris Thompson, head of product management and marketing. “We expect these moves will help us to achieve that goal.”

The company made personnel changes prior to the close of the acquisition on April 30, 2010 and does not expect to eliminate additional investment positions due to the proposed mergers. The integration process remains on schedule and on budget. Fund mergers, if approved, are expected to close in the first half of 2011. Additional aspects of the integration are expected to be announced this fall.

On April 30, 2010, Ameriprise Financial, Inc., the parent company of RiverSource Investments, LLC, acquired the long-term asset management business of Columbia Management Group, LLC, including certain of its affiliates, which were, prior to this acquisition, part of Bank of America. In connection with the acquisition of the long-term assets, certain clients of Columbia Management Advisors, LLC (including the Columbia Funds) have a new investment adviser, RiverSource Investments, LLC, which is now known as Columbia Management Investment Advisers, LLC.

On the same date, Ameriprise Financial also acquired Columbia Wanger Asset Management, LLC (CWAM). CWAM will continue as the investment adviser for Columbia Acorn and Wanger Funds and no changes are anticipated in the existing investment management team.

For those clients that use the services of a subadviser, those arrangements are continuing unless notified otherwise. RiverSource Fund Distributors, Inc., now known as Columbia Management Investment Distributors, Inc., member FINRA, will act as the principal distributor of the Columbia, Wanger, Columbia Acorn, RiverSource, Seligman and Threadneedle branded funds. RiverSource Service Corporation, now known as Columbia Management Investment Services Corp., is the transfer agent for the Funds.

Investment products are not federally or FDIC-insured, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.

Investors should consider the investment objectives, risks, charges and expenses of a mutual fund carefully before investing. For a free prospectus, which contains this and other important information about the funds, visit columbiamanagement.com. Read the prospectus carefully before investing.

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