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Tri-Continental Corporation NYSE
an investment you can live with ----------
October 31, 2005
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FUND OBJECTIVE
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Tri-Continental Corporation invests to produce future growth of both capital and
income, while providing reasonable current income.
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PORTFOLIO MANAGEMENT
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Portfolio Managers:
Xxxx X. Xxxxxxxxxx and Xxxxxxx X. XxXxxxx
Investment Team:
Xxxxxxxx Core Investment Team
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XXXXXXXX'X STYLE ANALYSIS
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MANAGEMENT STYLE
MARKET CAP Value Blend Growth
Large o
Medium
Small
This style analysis is the opinion of Xxxxxxxx only and has not been provided by
any third party.
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TOP EQUITY HOLDINGS
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Represents 25.4% of net assets.
General Electric
Citigroup
Microsoft
Altria Group
Bank of America
Exxon Mobil
Wal-Mart Stores
Pfizer
Johnson & Xxxxxxx
America International Group
The Corporation is actively managed, and its holdings are subject to change.
Holdings and Portfolio Composition are shown as a percentage of net assets.
Portfolio holdings information is available at xxx.xxxxxxxx.xxx.
For more information, please call 800-TRI-1092 (000-000-0000) or visit our
website at xxx.xxxxxxxxxxxxxx.xxx
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PER SHARE CHARACTERISTICS
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Net Asset Value $21.46
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Market Price $18.08
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Premium/(Discount) (15.75)%
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Accumulated Realized Capital Loss ($3.09)
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Net Unrealized Capital Gain $0.18
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DISTRIBUTIONS
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Number of Consecutive Years Dividend Paid .62
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Yield of Portfolio 1.55%
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SEC Yield 1.40%
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Five Year Rolling Average Distribution Rate
(Includes Dividends and Capital Gains) 4.60%
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HOLDINGS BY SECTOR
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Tri-Continental Corporation S&P 500
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Consumer Discretionary 9.75% 10.76%
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Consumer Staples 11.42 9.81
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Energy 5.95 9.45
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Financials 16.98 21.02
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Health Care 13.81 13.14
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Industrials 11.60 11.14
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Information Technology 18.99 15.19
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Materials 4.49 2.95
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Telecommunication Services 5.14 3.09
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Utilities 0.00 3.46
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Unassigned 1.24 0.00
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Cash 0.62 0.00
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INVESTMENT RESULTS
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Total returns for the periods ended October 31, 2005
Average Annual
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One Month* Year-to-Date* One Year Three Years Five Years Ten Years
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Net Asset Value (1.20)% (0.95)% 7.15% 11.46% (2.43)% 7.00%
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Market Price (0.98) (0.16) 8.40 9.41 (2.03) 7.41
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S&P 500 (1.67) 1.05 8.72 12.84 (1.73) 9.34
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* Not annualized.
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IMPORTANT PERFORMANCE INFORMATION
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Performance data quoted herein represents past performance. Past performance
does not guarantee or indicate future results. Investment return and principal
value of an investment will fluctuate so that an investor's shares, when sold,
may be worth more or less than their original cost. Current performance may be
higher or lower than the performance data quoted. Total returns for the Fund as
of the most recent month-end will be made available at xxx.xxxxxxxxxxxxxx.xxx by
the seventh business day following that month-end.
The Net Asset Value and Market Price investment results assume the reinvestment
of all distributions. The S&P 500 is an unmanaged benchmark that assumes the
reinvestment of all distributions and excludes the effect of fees. Investors
cannot invest directly in an index.
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NOT FDIC INSURED o NOT BANK GUARANTEED o MAY LOSE VALUE
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TY
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LISTED
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Tri-Continental Corporation NYSE
an investment you can live with ----------
October 31, 2005
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PORTFOLIO CHARACTERISTICS(1)
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Median Market Cap $60 billion
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Weighted Average Price/
Earnings Ratio (2005)(2) 17.10
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Weighted Average Price/
Book Ratio (2005)(3) 2.7x
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Net Investment Assets $2.4 billion
(1) Calculations are based upon information provided by FactSet as of 10/31/05
for the securities held in the Corporation.
(2) Price/Earnings Ratio is the "multiple" of earnings at which a stock sells,
determined by dividing current stock price by estimated earnings per
share, adjusted for stock splits. A higher "multiple" indicates investors
have greater expectations for future growth. The weighted average is the
mean of the price/earnings ratios of all securities held in
Tri-Continental's portfolio, weighted by the percent of equity.
(3) Price/Book Ratio is the comparison of a stock's market value to the value
of total assets less total liabilities (book value), determined by
dividing current stock price by common stockholder equity per share,
adjusted for stock splits. The weighted average is the mean of the
price/book ratios of all securities held in Tri-Continental's portfolio,
weighted by the percent of equity.
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FOR MORE INFORMATION
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You should consider the investment objectives, risks, charges, and expenses of
the Fund carefully before investing. A prospectus containing information about
the Fund (including its investment objectives, risks, charges, expenses, and
other information about the Fund) may be obtained by calling 800-TRI-1092. The
prospectus should be read carefully before investing in the Fund.
For more information, please call 800-TRI-1092 (000-000-0000) or visit our
website at xxx.xxxxxxxxxxxxxx.xxx
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YEAR-BY-YEAR ANNUAL TOTAL RETURNS
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[THE FOLLOWING TABLE WAS REPRESENTED AS A BAR CHART IN THE PRINTED MATERIAL.]
Market Value Net Asset Value
1995 28.0 30.8
1996 22.0 21.4
1997 27.9 26.6
1998 26.2 25.8
1999 12.6 10.7
2000 -11.6 -8.3
2001 -5.2 -10.2
2002 -28.2 -26.4
2003 25.2 25.8
2004 13.0 13.4
Year-to-Date (10/31/05) -0.2 -1.0
See Important Performance Information on page 1 of this fact sheet.
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GROWTH OF $10,000
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10/31/95 - 10/31/05
[MOUNTAIN CHART OMITTED]
2005 $20,441
Excludes the effect of any costs associated with the purchase of shares. See
Important Performance Information on page 1 of this fact sheet.
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A WORD ABOUT RISK
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The net asset value of shares may not always correspond to the market price of
such shares. Shares of many closed-end funds frequently trade at a discount from
their net asset value. Tri-Continental Corporation is subject to stock market
risk, which is the risk that stock prices overall will decline over short or
long periods, adversely affecting the value of an investment in the Fund.
There is no guarantee that the Fund's investment goals/objective will be met,
and you could lose money.
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NOT FDIC INSURED o NOT BANK GUARANTEED o MAY LOSE VALUE
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CETRI8 10/05
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