Tri-Continental Corporation Declares Fourth Quarter Distribution

BOSTON–(BUSINESS WIRE)–Tri-Continental Corporation (the “Corporation”) (NYSE: TY) today
declared a fourth quarter ordinary income distribution of $0.3094 per
share of Common Stock and $0.6250 per share of Preferred Stock. In
addition, the Corporation declared a capital gain distribution of
$0.0950 per share of Common Stock. Distributions on Common Stock will be
paid on December 29, 2017 to Common Stockholders of record on December
21, 2017 and dividends on Preferred Stock will be paid on January 2,
2018 to Preferred Stockholders of record on December 21, 2017. The
ex-dividend date for both the Common Stock and the Preferred Stock is
December 20, 2017. The $0.3094 per share ordinary income distribution
and the $0.0950 per share capital gain distribution on the Common Stock
is in accordance with the Corporation’s distribution policy.

The Corporation has paid dividends on its common stock for 73
consecutive years. The Corporation’s investment manager is Columbia
Management Investment Advisers, LLC, a wholly owned subsidiary of
Ameriprise Financial, Inc.

The Corporation’s distributions on common stock will vary. The
Corporation’s current distributions (as estimated by the Corporation
based on current information) are from the earnings and profits of the
Corporation. No amount of the Corporation’s current distribution
consists of a return of capital (i.e., a return of some or all of your
original investment in the Corporation).

The net asset value of the Corporation’s common 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. An
investment in the Corporation is subject to stock market risk, which is
the risk that market prices for the Corporation’s common shares may
decline over short or long periods, adversely affecting the value of an
investment in the Corporation.

Securities selected for the Corporation using quantitative methods may
perform differently from the market as a whole and there can be no
assurance that this methodology will enable it to achieve its objective.
The Corporation’s portfolio investments are subject to market risk,
which may affect a single issuer, sector of the economy, industry or the
market as a whole. Fixed income investments, including convertible
securities, are subject to credit risk, interest rate risk, and
prepayment and extension risk. These risks may be more pronounced for
longer-term securities and high-yield securities (“junk bonds”). In
general, bond prices rise when interest rates fall and vice versa.
Convertible securities are subject to both the risks of their security
type prior to conversion as well as their security type after
conversion. The Corporation’s use of leverage, including through its
preferred stock, exposes it to greater risks due to unanticipated market
movements, which may magnify losses and increase volatility of returns.

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 contacting your financial advisor or Columbia Management
Investment Services Corp. at 800-345-6611. The prospectus can also be
found on the Securities and Exchange Commission’s EDGAR database. The
prospectus should be read carefully before investing in the Corporation.
There is no guarantee that the Corporation’s investment goals/objectives
will be met or that distributions will be made, and you could lose money.

Tri-Continental is managed by Columbia Management Investment Advisers,
LLC. This material is distributed by Columbia Management Investment
Distributors, Inc., member FINRA.

Columbia Threadneedle Investments is the global brand name of the
Columbia and Threadneedle group of companies.

Past performance does not guarantee future results.

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.

© 2017 Columbia Management Investment Advisers, LLC. All rights reserved.

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For Tri-Continental Corporation
Stockholder contact:
Howley, 617-385-9517
Elizabeth Kennedy, 617-897-9394