TY Tri Continental Corp

Minimum Quarterly Distributions to Total Approximately 11% Annually NEW YORK, July 26 /PRNewswire-FirstCall/ -- Tri-Continental Corporation (NYSE:TY) today paid a second quarter distribution of $0.707 per share of common stock under a new distribution policy approved by Stockholders this past May. "This is the first distribution since the new policy went into effect, and is a significant milestone in Tri-Continental's 78-year history," according to Brian T. Zino, President. Eligible Stockholders will receive approximately 11% of the net asset value (NAV) each year through quarterly distributions, each equal to 2.75% of the NAV attributable to the Corporation's common stock at the end of the prior calendar quarter. "Tri-Continental's new policy provides regular, periodic cash payouts to our Stockholders who rely on these distributions to meet financial needs," said Mr. Zino. "Importantly, many Stockholders, in an effort to maintain and grow their investments, have opted to reinvest distributions in the Corporation's shares." Second quarter distributions on common stock will be paid to Stockholders of record as of July 17, 2007. Common Stockholders may elect to receive all or a portion of their distribution in additional shares. Distributions on preferred stock were paid on July 2, 2007 to such Stockholders of record on June 13, 2007. The final determination of the source of all distributions in 2007 for tax purposes, including the percentage of qualified dividend income, net realized capital gains, and/or return of capital, will be made after year- end. Tri-Continental Corporation is one of the nation's largest, diversified, publicly traded closed-end equity investment companies and has paid dividends for 63 consecutive years. The Corporation is managed by J. & W. Seligman & Co. Incorporated, 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. You should consider the investment objectives, risks, charges, and expenses of the Corporation carefully before investing. A prospectus containing information about the Corporation (including its investment objectives, risks, charges, expenses, and other information) may be obtained by calling 800-TRI-1092. The prospectus should be read carefully before investing in the Corporation. DATASOURCE: Tri-Continental Corporation CONTACT: Media, Mary Ann Susco, +1-212-850-1382, , or Investors, Marco Acosta, +1-800-597-6068, Opt. 1, , both for Tri-Continental Corporation

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