The Board of Directors of Tri-Continental Corporation considered and, thereafter, unanimously elected William P. Carmichael to the corporation's Board. Mr. Carmichael's service with the Board will commence on January 1, 2014, at which time he will serve as chairman of the Board, per action at the meeting by the Board's existing members. He will also serve on the Board's Governance Committee, Compliance Committee, Contracts Committee, Executive Committee and Investment Review Committee.

Mr. Stephen R. Lewis, Jr., the Board's current chairman, is retiring from his service as chairman of the boards of all of the Columbia Funds, including the corporation, effective January 1, 2014. Thereafter, he will continue to serve as a member of the Board, subject to his re-election by the corporation's stockholders at their next annual meeting. Also effective January 1, 2014, Mr. Carmichael will commence service as chairman of the board of certain open-end Columbia funds.

In addition to his service as trustee to certain of the funds in the Columbia Family of Funds, Mr. Carmichael is a director of Cobra Electronics Corporation (electronic equipment manufacturer), The Finish Line (athletic shoes and apparel) and International Textile Corp.