SCHEDULE 14A
(Rule 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section
14(a) of the Securities Exchange Act of 1934

Filed by the Registrant [ X ]

Filed by a Party other than the Registrant [ ]

Check the appropriate box:
[ ] Preliminary Proxy Statement
[ X ] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Sec. 240.14a-11(c) or Sec. 240.14a-12
[ ] Confidential, For Use of the Commission Only (as permitted by
Rule 14a-6(e)(2))

COLONIAL CALIFORNIA INSURED MUNICIPAL FUND
COLONIAL HIGH INCOME MUNICIPAL TRUST
COLONIAL INSURED MUNICIPAL FUND
COLONIAL INTERMEDIATE HIGH INCOME FUND
COLONIAL INTERMARKET INCOME TRUST I
COLONIAL INVESTMENT GRADE MUNICIPAL TRUST
COLONIAL MUNICIPAL INCOME TRUST
COLONIAL NEW YORK INSURED MUNICIPAL FUND
________________________________________________
(Name of Registrant as Specified In Its Charter)

Payment of Filing Fee (Check the appropriate box):

[ X ] No fee required.

[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.

1) Title of each class of securities to which transaction applies:

2) Aggregate number of securities to which transaction applies:

3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which
the filing fee is calculated and state how it was determined):

4) Proposed maximum aggregate value of transaction:

5) Total fee paid:

[ ] Fee paid previously with preliminary materials:

[ ] Check box if any part of the fee is offset as provided by Exchange
Act Rule 0-11(a)(2) and identify the filing for which the offsetting
fee was paid previously. Identify the previous filing by
registration statement number, or the form or schedule and the date
of its filing.

1) Amount Previously Paid:

2) Form, Schedule or Registration Statement No.:

3) Filing Party:

4) Date Filed:

(EACH, A "FUND"; COLLECTIVELY, THE "FUNDS")
ONE FINANCIAL CENTER, BOSTON, MASSACHUSETTS 02111
(617) 426-3750

NOTICE OF ANNUAL MEETING OF SHAREHOLDERS
MAY 22, 2002

Dear Shareholder:

NOTICE IS HEREBY GIVEN that the 2002 Annual Meeting of Shareholders of the Funds
(the "Meeting") will be at One Financial Center, Boston, Massachusetts, on May
22, 2002, at 10:00 a.m. Eastern time. The purpose of the Meeting is to consider
and act upon the following matters:

1. To elect Trustees of the Funds as outlined below:

(a) Colonial High Income Municipal Trust:

(i) Three Trustees to be elected by the holders of common shares
of beneficial interest, no par value (the "Common Shares") and
Municipal Auction Rate Cumulative Preferred Shares (the
"Preferred Shares") of the Fund, voting together as a single
class; and

(ii) Two Trustees to be elected by the holders of Preferred Shares
only, voting as a single class.

(b) Colonial Investment Grade Municipal Trust:

(i) Three Trustees to be elected by the holders of Common Shares
and Preferred Shares of the Fund, voting together as a single
class; and

G-60/483J-0402

(ii) Two Trustees to be elected by the holders of Preferred Shares
only, voting as a single class.

(c) Colonial InterMarket Income Trust I: Four Trustees to be elected by
the holders of shares of beneficial interest of the Fund.

(d) Colonial California Insured Municipal Fund:

(i) Three Trustees to be elected by the holders of Common Shares
and Preferred Shares of the Fund, voting together as a single
class; and

(ii) Two Trustees to be elected by the holders of Preferred Shares
only, voting as a single class.

(e) Colonial Insured Municipal Fund:

(i) Three Trustees to be elected by the holders of Common Shares
and Preferred Shares of the Fund, voting together as a single
class; and

(ii) Two Trustees to be elected by the holders of Preferred Shares
only, voting as a single class.

(f) Colonial New York Insured Municipal Fund:

(i) Three Trustees to be elected by the holders of Common Shares
and Preferred Shares of the Fund, voting together as a single
class; and

(ii) Two Trustees to be elected by the holders of Preferred Shares
only, voting as a single class.

(g) Colonial Municipal Income Trust:

(i) Three Trustees to be elected by the holders of Common Shares
and Preferred Shares of the Fund, voting together as a single
class; and

(ii) Two Trustees to be elected by the holders of Preferred Shares
only, voting as a single class.

(h) Colonial Intermediate High Income Fund: Three Trustees to be elected
by the holders of shares of beneficial interest of the Fund.

2. To transact such other business as may properly come before the Meeting
and any adjourned session of the Meeting.

Shareholders of record at the close of business on March 1, 2002 are entitled to
notice of, and to vote at, the Meeting and any adjourned session.

YOUR BOARD OF TRUSTEES RECOMMENDS THAT YOU VOTE FOR THE PROPOSALS.

By order of the Board of Trustees,

Jean S. Loewenberg
Secretary of the Funds

PLEASE RESPOND. YOUR VOTE IS IMPORTANT REGARDLESS OF THE NUMBER OF SHARES YOU
OWN. YOU CAN VOTE EASILY AND QUICKLY BY MAIL OR IN PERSON.

April 16, 2002

PROXY STATEMENT

COLONIAL CALIFORNIA INSURED MUNICIPAL FUND (CCAIMF)
COLONIAL HIGH INCOME MUNICIPAL TRUST (CHIMT)
COLONIAL INSURED MUNICIPAL FUND (CIMF)
COLONIAL INTERMEDIATE HIGH INCOME FUND (CIHIF)
COLONIAL INTERMARKET INCOME TRUST I (CIITI)
COLONIAL INVESTMENT GRADE MUNICIPAL TRUST (CIGMT)
COLONIAL MUNICIPAL INCOME TRUST (CMIT)
COLONIAL NEW YORK INSURED MUNICIPAL FUND (CNYIMF)

(EACH, A FUND; COLLECTIVELY, THE FUNDS)
ONE FINANCIAL CENTER, BOSTON, MASSACHUSETTS 02111
(617) 426-3750

ANNUAL MEETING OF SHAREHOLDERS
MAY 22, 2002

This Proxy Statement is furnished in connection with the solicitation of proxies
on behalf of the Board of Trustees of the Funds to be used at the Annual Meeting
of Shareholders of the Funds to be held on May 22, 2002, at 10:00 a.m. Eastern
time at the offices of the Funds' investment advisor, Colonial Management
Associates, Inc. ("Colonial"), One Financial Center, Boston, Massachusetts, and
at any adjournments thereof (such meeting and any adjournments being referred to
as the "Meeting").

The solicitation of proxies for use at the Meeting is being made primarily by
the mailing on or about April 26, 2002, of this Proxy Statement and the
accompanying proxy cards. Supplementary solicitations may be made by mail,
telephone, or personal interview by officers and Trustees of the Funds and
officers and employees of Colonial and its affiliates. Authorization to execute
proxies may be obtained from shareholders through instructions transmitted by
telephone or facsimile. The expenses incurred in connection with preparing this
Proxy Statement and soliciting proxies for the Meeting will be paid by the
Funds. The Funds will reimburse brokerage firms and others for their expenses in
forwarding solicitation material to the beneficial owners of shares.

The Meeting is being held to vote on the matters described below.

PROPOSAL 1. ELECTION OF TRUSTEES

1.(a) COLONIAL HIGH INCOME MUNICIPAL TRUST

Messrs. Hacker, Lowry and Neuhauser (who have each agreed to serve) are proposed
for election as Trustees of the Fund and are to be elected by the holders of
Common Shares and Preferred Shares, voting together as a single class. Each will
serve for three years or until a successor is elected. Messrs. Macera and
Stitzel (who have each agreed to serve) are proposed for election as Trustees of
the Fund and are to be elected by the holders of Preferred Shares only, voting
as a single class.

The Board of Trustees (other than Messrs. Macera and Stitzel) is divided into
the following three classes, each with a term expiring in the year indicated
(assuming the persons listed above are elected at the Meeting):

2003 2004 2005
- ---- ---- ----

Ms. Kelly Mr. Mayer Mr. Hacker
Mr. Palombo Mr. Nelson Mr. Lowry
Ms. Verville Mr. Theobald Mr. Neuhauser

Messrs. Macera and Stitzel are subject to re-election annually by the holders of
Preferred Shares of the Fund.

REQUIRED VOTE

With respect to Messrs. Hacker, Lowry and Neuhauser, the affirmative vote of a
plurality of the holders of Common Shares and Preferred Shares, voting together
as a single class, present at the Meeting in person or by proxy, is required for
the election of each such Trustee. With respect to the election of Messrs.
Macera and Stitzel, the affirmative vote of a plurality of the holders of
Preferred Shares, present at the Meeting in person or by proxy, is required for
the election of each such Trustee.

1.(b) COLONIAL INVESTMENT GRADE MUNICIPAL TRUST

Messrs. Lowry and Nelson and Ms. Verville (who have each agreed to serve) are
proposed for election as Trustees of the Fund and are to be elected by the
holders

of Common Shares and Preferred Shares, voting together as a single class. Each
will serve for three years or until a successor is elected. Messrs. Macera and
Stitzel (who have each agreed to serve) are proposed for election as Trustees of
the Fund and are to be elected by the holders of Preferred Shares only, voting
as a single class.

2003 2004 2005
- ---- ---- ----

Mr. Hacker Mr. Mayer Mr. Lowry
Ms. Kelly Mr. Neuhauser Mr. Nelson
Mr. Palombo Mr. Theobald Ms. Verville

Messrs. Macera and Stitzel are subject to re-election annually by the holders of
Preferred Shares of the Fund.

REQUIRED VOTE

With respect to Messrs. Lowry and Nelson and Ms. Verville, the affirmative vote
of a plurality of the holders of Common Shares and Preferred Shares, voting
together as a single class, present at the Meeting in person or by proxy, is
required for the election of each such Trustee. With respect to the election of
Messrs. Macera and Stitzel, the affirmative vote of a plurality of the holders
of Preferred Shares, present at the Meeting in person or by proxy, is required
for the election of each such Trustee.

1.(c) COLONIAL INTERMARKET INCOME TRUST I

Messrs. Lowry, Mayer and Stitzel and Ms. Verville (who have each agreed to
serve) are proposed for election as Trustees of the Fund. Each will serve for
three years or until a successor is elected.

The Board of Trustees is divided into the following three classes, each with a
term expiring in the year indicated (assuming the persons listed above are
elected at the Meeting):

2003 2004 2005
- ---- ---- ----

Mr. Hacker Mr. Macera Mr. Lowry
Ms. Kelly Mr. Neuhauser Mr. Mayer
Mr. Nelson Mr. Palombo Mr. Stitzel
Mr. Theobald Ms. Verville

REQUIRED VOTE

The affirmative vote of a plurality of the holders of shares of beneficial
interest of the Fund, present at the Meeting in person or by proxy, is required
for the election of each such Trustee.

1.(d) COLONIAL CALIFORNIA INSURED MUNICIPAL FUND

Messrs. Hacker and Palombo and Ms. Kelly (who have each agreed to serve) are
proposed for election as Trustees of the Fund and are to be elected by the
holders of Common Shares and Preferred Shares, voting together as a single
class. Each will serve for three years or until a successor is elected. Messrs.
Macera and Stitzel (who have each agreed to serve) are proposed for election as
Trustees of the Fund and are to be elected by the holders of Preferred Shares
only, voting as a single class.

2003 2004 2005
- ---- ---- ----

Mr. Lowry Mr. Neuhauser Mr. Hacker
Mr. Mayer Mr. Theobald Ms. Kelly
Mr. Nelson Ms. Verville Mr. Palombo

Messrs. Macera and Stitzel are subject to re-election annually by the holders of
Preferred Shares of the Fund.

REQUIRED VOTE

With respect to Messrs. Hacker and Palombo and Ms. Kelly, the affirmative vote
of a plurality of the holders of Common Shares and Preferred Shares, voting
together as a single class, present at the Meeting in person or by proxy, is
required for the election of each such Trustee. With respect to the election of
Messrs. Macera and Stitzel, the affirmative vote of a plurality of the holders
of Preferred Shares, present at the Meeting in person or by proxy, is required
for the election of each such Trustee.

1.(e) COLONIAL INSURED MUNICIPAL FUND

2003 2004 2005
- ---- ---- ----

Mr. Lowry Mr. Neuhauser Mr. Hacker
Mr. Mayer Mr. Theobald Ms. Kelly
Mr. Nelson Ms. Verville Mr. Palombo

Messrs. Macera and Stitzel are subject to re-election annually by the holders of
Preferred Shares of the Fund.

REQUIRED VOTE

Preferred Shares, present at the Meeting in person or by proxy, is required for
the election of each such Trustee.

1.(f) COLONIAL NEW YORK INSURED MUNICIPAL FUND

2003 2004 2005
- ---- ---- ----

Mr. Lowry Mr. Neuhauser Mr. Hacker
Mr. Mayer Mr. Theobald Ms. Kelly
Mr. Nelson Ms. Verville Mr. Palombo

Messrs. Macera and Stitzel are subject to re-election annually by the holders of
Preferred Shares of the Fund.

REQUIRED VOTE

1.(g) COLONIAL MUNICIPAL INCOME TRUST

Messrs. Mayer and Palombo and Ms. Verville (who have each agreed to serve) are
proposed for election as Trustees of the Fund and are to be elected by the
holders of Common Shares and Preferred Shares, voting together as a single
class. Each will serve for three years or until a successor is elected. Messrs.

Macera and Stitzel (who have each agreed to serve) are proposed for election as
Trustees of the Fund and are to be elected by the holders of Preferred Shares
only, voting as a single class.

2003 2004 2005
- ---- ---- ----

Mr. Hacker Mr. Lowry Mr. Mayer
Ms. Kelly Mr. Neuhauser Mr. Palombo
Mr. Nelson Mr. Theobald Ms. Verville

Messrs. Macera and Stitzel are subject to re-election annually by the holders of
Preferred Shares of the Fund.

REQUIRED VOTE

With respect to Messrs. Mayer and Palombo and Ms. Verville, the affirmative vote
of a plurality of the holders of Common Shares and Preferred Shares, voting
together as a single class, present at the Meeting in person or by proxy, is
required for the election of each such Trustee. With respect to the election of
Messrs. Macera and Stitzel, the affirmative vote of a plurality of the holders
of Preferred Shares, present at the Meeting in person or by proxy, is required
for the election of each such Trustee.

1.(h) COLONIAL INTERMEDIATE HIGH INCOME FUND

Messrs. Lowry, Mayer and Nelson (who have each agreed to serve) are proposed for
election as Trustees of the Fund. Each will serve for three years or until a
successor is elected.

The Board of Trustees is divided into the following three classes, each with a
term expiring in the year indicated (assuming the persons listed above are
elected at the Meeting):

2003 2004 2005
- ---- ---- ----

Mr. Hacker Mr. Macera Mr. Lowry
Ms. Kelly Mr. Stitzel Mr. Mayer
Mr. Neuhauser Mr. Theobald Mr. Nelson
Mr. Palombo Ms. Verville

REQUIRED VOTE

The affirmative vote of a plurality of the holders of shares of beneficial
interest of the Fund present at the Meeting in person or by proxy is required
for the election of each such Trustee.

FOR INFORMATION REGARDING THE BOARD OF TRUSTEES AND EXECUTIVE OFFICERS OF YOUR
FUND, SEE APPENDIX A TO THIS PROXY STATEMENT.

TRUSTEES' COMPENSATION

The members of the Funds' Board of Trustees also serve as Trustees on the boards
for all other funds within the "Liberty Funds Complex." As of December 31, 2001,
the Liberty Funds Complex included the Liberty family of funds, which consisted
of 54 open-end and 8 closed-end funds, and the Stein Roe family of funds, which
consisted of 40 open-end funds and 1 limited liability company. The Funds' Board
of Trustees holds it meetings concurrently with the board meetings for each of
the other funds within the Liberty Funds Complex ("joint Board meetings"). For
the fiscal year ended October 31, 2001, CIHIF held eleven meetings (six regular
joint Board meetings and five special joint Board meetings). For the fiscal year
ended November 30, 2001, all other Funds held twelve meetings (six regular joint
Board meetings and six special joint Board meetings). Two-thirds of the
Trustees' fees are allocated among the Liberty Funds Complex based on the
relative net assets of each fund and one-third of the fees is divided equally
among the funds within the Liberty Funds Complex.

FOR MORE INFORMATION REGARDING THE COMPENSATION OF THE TRUSTEES, SEE APPENDIX
B.1 AND APPENDIX B.2 TO THIS PROXY STATEMENT.

TRUSTEE SHARE OWNERSHIP

The table in Appendix C shows, as of December 31, 2001, the dollar range of
equity securities beneficially owned by each Trustee (i) in each of the Funds,
and (ii) in all funds overseen by the Trustee in the Liberty Funds Complex.

TRUSTEES' MEETINGS AND COMMITTEES

The Board of Trustees is responsible for the overall management and supervision
of the Funds' affairs and for protecting the interests of shareholders. The
Board of Trustees has created several committees to perform specific functions
on behalf of the Funds. The members of each committee, along with a description
of each committee's functions, appear below, followed by a table that sets forth
the number of meetings held during the last fiscal year.

1. AUDIT COMMITTEE

Each Fund has an Audit Committee comprised of only "Independent Trustees" (as
defined in the listing standards of the New York Stock Exchange ("NYSE") and the
American Stock Exchange ("AMEX")), who are also not "interested persons" (as
defined in the Investment Company Act of 1940, as amended) of any Fund. The
Audit Committee is responsible for: recommending to the Board the firm of
independent accountants to be selected to perform the audit of each Fund;
reviewing the methods, scope and results of the audits and the fees charged for
such services; and reviewing the Funds' internal accounting procedures and
controls. The Funds have no nominating or compensation committee.

In discharging its oversight responsibility for the audit process, the Audit
Committee discussed with management the process for the preparation and review
of the audited financial statements for the last fiscal year. Based on its
review and discussion, the Audit Committee recommended to the Board that the
audited financial statements for each Fund be included in that Fund's Annual
Report to shareholders. The Audit Committee also reviewed the non-audit services
provided by the independent accountants of the Funds. The independent
accountants for the Funds, PricewaterhouseCoopers LLP ("PwC"), discussed with
the Board the matters required to be discussed by Statement on Auditing
Standards No. 61. In addition, the Audit Committee obtained from the independent
accountants a formal written statement consistent with Independence Standards
Board Standard No. 1, "Independence Discussions with Audit Committees,"
describing all relationships between the independent accountants and the Funds
that might bear on the independent accountants' independence. The Audit
Committee also discussed with the independent accountants any relationships that
may impact objectivity and independence and satisfied itself as to the
independent accountants' independence. Based on the recommendation from the
Audit Committee and on its own review, the Board of Trustees selected PwC as
independent accountants for the Funds for the fiscal

year ending October 31, 2002 or November 30, 2002, as the case may be.
Representatives of PwC are not expected to be present at the Meeting.

The Board of Trustees has adopted a written charter that sets forth the Audit
Committee's structure, duties and powers, and methods of operation. The Audit
Committee Charter is attached as Appendix F. Each member of the Audit Committee
must be financially literate and at least one member must have prior accounting
experience or related financial management expertise. The Board of Trustees has
determined, in accordance with applicable regulations of the NYSE and AMEX, that
each member of the Audit Committee is financially literate and has prior
accounting experience or related financial management expertise. The Funds'
Audit Committee members for 2001 were Ms. Verville and Messrs. Hacker, Macera,
Nelson and Neuhauser. Each member of the Audit Committee meets the independence
standards of the NYSE and AMEX listing standards.

2. GOVERNANCE COMMITTEE

Ms. Verville and Messrs. Hacker, Lowry, Mayer and Theobald are members of the
Governance Committee. The Governance Committee's functions include: recommending
to the Trustees nominees for Trustee and nominees for appointment to various
committees; performing periodic evaluations of the effectiveness of the Board;
reviewing and recommending to the Board policies and practices to be followed in
carrying out the Trustees' duties and responsibilities; and reviewing and making
recommendations to the Board regarding the compensation of the Trustees who are
not affiliated with Colonial. The Governance Committee will consider candidates
for Trustee recommended by shareholders. Written recommendations for candidates
for Trustee, along with supporting information, should be directed to the
Governance Committee, in care of your Fund.

3. ADVISORY FEES & EXPENSES COMMITTEE

Ms. Kelly and Messrs. Mayer, Neuhauser, Stitzel and Theobald are members of the
Advisory Fees & Expenses Committee. The Advisory Fees & Expenses Committee's
functions include reviewing and making recommendations to the Board as to
contracts requiring approval of a majority of the disinterested Trustees and as
to any other contracts that may be referred to the committee by the Board.

4. TRADING OVERSIGHT COMMITTEE

Ms. Kelly and Messrs. Lowry, Macera, Nelson and Stitzel are members of the
Trading Oversight Committee. The Trading Oversight Committee's functions include
reviewing and recommending to the Board the policies and practices to be
followed by Colonial in executing portfolio trades on behalf of the Funds and
regularly reviewing the allocation of the Funds' portfolio transactions among
executing broker/dealers, the level of commission payments, soft dollar
commitments, directed brokerage arrangements and other trading practices.

NUMBER OF CCAIMF,
CHIMT, CIMF, CIITI,
NUMBER OF CIHIF CIGMT, CMIT, CNYIMF
MEETINGS FOR FISCAL MEETINGS FOR FISCAL
YEAR ENDED OCTOBER YEAR ENDED
31, 2001 NOVEMBER 30, 2001
-------- -----------------

Board of Trustees 11 12
Audit Committee 6 6
Governance Committee 1 2
Advisory Fees & Expenses Committee 4 4
Trading Oversight Committee 2 2

FEES PAID TO INDEPENDENT ACCOUNTANTS

1. AUDIT FEES

For the audit of each Fund's annual financial statements for the most recently
completed fiscal year, the fees paid or accrued to PwC are as follows:

FUND FISCAL YEAR ENDED FEES
- ---- ----------------- ----

CCAIMF 11/30/01 $19,600
CHIMT 11/30/01 24,000
CIMF 11/30/01 19,600
CIITI 11/30/01 25,600
CIHIF 10/31/01 29,900
CIGMT 11/30/01 20,400
CMIT 11/30/01 24,000
CNYIMF 11/30/01 19,600

2. FINANCIAL INFORMATION SYSTEMS DESIGN AND IMPLEMENTATION FEES

For each Fund's most recently completed fiscal year, neither the Funds,
Colonial, nor any entity controlling, controlled by, or under common control
with Colonial that provides services to the Funds, paid or accrued any fees for
financial information systems design and implementation services by PwC.

3. ALL OTHER FEES

The fees paid or accrued by each Fund to PwC for tax services and all other
services for the most recently completed fiscal year are as follows:

FUND FISCAL YEAR ENDED FEES
- ---- ----------------- ----

CCAIMF 11/30/01 $11,450
CHIMT 11/30/01 9,650
CIMF 11/30/01 11,450
CIITI 11/30/01 4,100
CIHIF 10/31/01 5,000
CIGMT 11/30/01 11,150
CMIT 11/30/01 11,150
CNYIMF 11/30/01 11,450

In addition, for all other services provided by PwC to Colonial, and entities
controlling, controlled by, or under common control with Colonial that provide
services to the Funds, aggregate fees paid or accrued to PwC were $296,000.

The Audit Committee has determined that the provision of the services described
above is compatible with maintaining the independence of PwC.

OTHER BUSINESS

The Meeting has been called to transact any business that properly comes before
it. The only business that management of the Funds intends to present or knows
that others will present is the election of Trustees. If any other matters
properly come before the Meeting, and on all matters incidental to the conduct
of the Meeting, the persons named as proxies intend to vote the proxies in
accordance with their judgment, unless the Secretary of the Funds has previously
received written contrary instructions from the shareholder entitled to vote the
shares.

OUTSTANDING SHARES AND SIGNIFICANT SHAREHOLDERS

All shareholders of record at the close of business on March 1, 2002, are
entitled to one vote for each share held on that date and holders of Common
Shares are entitled to fractional votes for any fractional shares held on that
date. The table in Appendix D lists for each Fund the total number of shares
outstanding as of March 1, 2002, for each class of a Fund's shares entitled to
vote at the Meeting.

The table in Appendix E lists the holders of more than five percent of any class
of shares of each Fund based on filings made by such holders pursuant to
Sections 13(d) and 16(a) of the Securities Exchange Act of 1934, as amended.

INFORMATION ABOUT THE MEETING AND THE VOTING AND TABULATION OF PROXIES

All proxies solicited by the Board of Trustees that are properly executed and
returned in time to be voted at the Meeting will be voted at the Meeting as
instructed on the proxy. If no instructions are given, the proxy will be voted
in favor of the nominees for election as Trustees.

Any proxy may be revoked at any time prior to its being exercised by written
notification received by the Funds' Secretary, by the execution of a later-dated
proxy, or by attending the meeting and voting in person.

Votes cast in person or by proxy at the Meeting will be counted by persons
appointed by the Funds as tellers for the Meeting (the "Tellers"). For each of
the CCAIMF, CIMF, CNYIMF and CMIT, 30% of the shares of the Fund outstanding on
the record date and entitled to vote, present at the Meeting in person or
represented by proxy, constitutes a quorum for the transaction of business by
the shareholders of that Fund. For each of the CHIMT, CIGMT, CIHIF and CIITI, a
majority of the shares of the Fund outstanding on the record date and entitled
to vote, present at the Meeting in person or by proxy, constitutes a quorum for
the transaction of business by the shareholders of that Fund.

The election of Trustees is by plurality of votes cast at the Meeting. Only
shareholders of record on March 1, 2002 may vote.

In determining whether a quorum is present, the Tellers will count shares
represented by proxies that reflect abstentions, and "broker non-votes," as
shares that are present and entitled to vote. With respect to the election of
Trustees, withheld authority, abstentions and broker non-votes have no effect on
the

outcome of voting. "Broker non-votes" are shares held by brokers or nominees as
to which (i) the broker or nominee does not have discretionary voting power, and
(ii) the broker or nominee has not received instructions from the beneficial
owner or other person who is entitled to instruct how the shares will be voted.

ADJOURNMENTS

In the event that a quorum is present at the Meeting but sufficient votes to
approve any of the proposals have not been received, the persons named as
proxies may propose one or more adjournments of the Meeting to permit further
solicitation of proxies. A shareholder vote may be taken on one or more of the
proposals referred to above prior to such adjournment if sufficient votes have
been received and it is otherwise appropriate. Any such adjournment will require
the affirmative vote of a majority of those shares present at the Meeting
(including abstentions and broker non-votes) in person or by proxy. If a quorum
is present, the persons named as proxies will vote those proxies that entitle
them to vote FOR any such proposal in favor of such adjournment and will vote
those proxies that require them to vote for rejection of any such proposal
against any such adjournment.

SUBMISSION OF PROPOSALS FROM SHAREHOLDERS AT FUTURE MEETINGS

Under the proxy rules of the Securities Exchange Committee (the "SEC"),
shareholder proposals that meet tests contained in those rules may, under
certain conditions, be included in a Fund's proxy materials for an annual
shareholders meeting. Under the proxy rules, proposals submitted for inclusion
in the proxy materials for the 2003 Annual Meeting must be received by the
relevant Fund on or before December 27, 2002. The fact that a Fund receives a
shareholder proposal in a timely manner does not ensure inclusion of the
proposal in the proxy materials since there are other requirements in the proxy
rules relating to such inclusion.

Shareholders who wish to make a proposal at the 2003 Annual Meeting that will
not be included in the Funds' proxy materials must notify the relevant Fund on
or about March 12, 2002. If a shareholder who wishes to submit a proposal fails
to timely notify the relevant Fund, the proxies solicited for the meeting will
have discretionary authority to vote on the shareholder's proposal if it is
properly brought before the meeting. If a shareholder makes a timely
notification, the proxies may still exercise discretionary voting authority
under circumstances consistent with the SEC's proxy rules.

You may submit shareholder proposals to the Secretary of the Liberty Funds, One
Financial Center, Boston, Massachusetts 02111-2621.

COMPLIANCE WITH SECTION 16(a) OF THE SECURITIES EXCHANGE ACT OF 1934 (BENEFICIAL
OWNERSHIP REPORTING)

Section 16(a) of the Securities Exchange Act of 1934, as amended, requires the
Funds' Trustees and officers, persons who own more than ten percent of the
Funds' outstanding shares and certain officers and directors of the Advisor
(collectively, "Section 16 reporting persons"), to file with the SEC initial
reports of ownership and reports of changes in ownership of Fund shares. Section
16 reporting persons are required by SEC regulations to furnish the Funds with
copies of all Section 16(a) forms that they file. To the Funds' knowledge, based
solely on a review of the copies of such reports furnished to the Funds, and on
representations made, all Section 16 reporting persons complied with all Section
16(a) filing requirements applicable to them.

OTHER INFORMATION

EACH FUND HAS PREVIOUSLY SENT ITS MOST RECENT ANNUAL REPORT AND ANY SUBSEQUENT
SEMI-ANNUAL REPORT TO ITS SHAREHOLDERS. YOU MAY OBTAIN A COPY OF THESE REPORTS,
FREE OF CHARGE, BY WRITING TO COLONIAL AT ONE FINANCIAL CENTER, BOSTON, MA,
02111-2621, OR BY CALLING 1-800-426-3750.

APPENDIX A - TRUSTEE AND OFFICER INFORMATION

The names and ages of the Trustees and executive officers of the Funds, the year
each was first elected or appointed to office, their principal business
occupations during at least the last five years, the number of portfolios in the
Liberty Funds Complex overseen by each Trustee and other directorships that each
Trustee holds are shown below. The address of each Trustee and officer is One
Financial Center, Boston, MA 02111.

TRUSTEES

Number of
Year First Portfolios in
Position Elected or Fund Complex Other
Name with Appointed to Principal Occupation(s) Overseen Directorships
and Age Funds Office During Past Five Years by Trustee Held
------- ----- ------ ---------------------- ---------- ----

DISINTERESTED TRUSTEES
Douglas A. Hacker Trustee CHIMT - 2000 President of UAL Loyalty 103 None
(Age 46) CIGMT - 2000 Services and Executive
CIITI - 2000 Vice President of United
CCAIMF - 2000 Airlines (airline) since
CIMF - 2000 September, 2001 (formerly
Executive Vice President
from July, 1999 to
September, 2001);.

Douglas A. Hacker dCNYIMF - 2000 Chief Financial Officer
(Cont.) CMIT - 2000 of United Airlines since
CIHIF - 2000 July, 1999; Senior Vice
President and Chief
Financial Officer of UAL,
Inc. prior thereto

DISINTERESTED TRUSTEES
Janet Langford Kelly Trustee CHIMT - 2000 Executive Vice 103 None
(Age 44) CIGMT - 2000 President-Corporate
CIITI - 2000 Development and
CCAIMF - 2000 Administration, General
CIMF - 2000 Counsel and Secretary,
CNYIMF - 2000 Kellogg Company (food
CMIT - 2000 manufacturer) since
CIHIF - 2000 September, 1999; Senior
Vice President, Secretary
and General Counsel, Sara
Lee Corporation (branded,
packaged,
consumer-products
manufacturer) prior
thereto.

DISINTERESTED TRUSTEES
Richard W. Lowry Trustee CHIMT - 1995 Private Investor since 105 None
(Age 65) CIGMT - 1995 August, 1987 (formerly
CIITI - 1995 Chairman and Chief
CCAIMF - 1999 Executive Officer, U.S.
CIMF - 1999 Plywood Corporation
CNYIMF - 1999 (building products
CMIT - 1995 manufacturer)).
CIHIF - 1995

Salvatore Macera Trustee CHIMT - 1998 Private Investor since 103 None
(Age 70) CIGMT - 1998 1982 (formerly President
CIITI - 1998 of Itek Electronics and
CCAIMF - 1999 Optical Industries and
CIMF - 1999 Executive Vice President
CNYIMF - 1999 and Director of Itek
CMIT - 1998 Corporation (electronics)
CIHIF - 1998 from 1975 to 1981).

DISINTERESTED TRUSTEES
Charles R. Nelson Trustee CHIMT - 2000 Van Voorhis Professor, 103 None
(Age 59) CIGMT - 2000 Department of Economics,
CIITI - 2000 University of Washington
CCAIMF - 2000 since January, 1976;
CIMF - 2000 consultant on econometric
CNYIMF - 2000 and statistical matters.
CMIT - 2000
CIHIF - 2000

John J. Neuhauser Trustee CHIMT - 1985 Academic Vice President 105 Saucony, Inc.
(Age 58) CIGMT - 1985 and Dean of Faculties (athletic
CIITI - 1989 since August, 1999, footwear);
CCAIMF - 1999 Boston College (formerly SkillSoft Corp.
CIMF - 1999 Dean, Boston College
CNYIMF - 1999 School of Management from
CMIT - 1985 September, 1977 to
CIHIF - 1985 September, 1999).

DISINTERESTED TRUSTEES
Thomas E. Stitzel Trustee CHIMT - 1998 Business Consultant since 103 None
(Age 66) CIGMT - 1998 1999 (formerly Professor
CIITI - 1998 of Finance from 1975 to
CCAIMF - 1999 1999 and Dean from 1977
CIMF - 1999 to 1991, College of
CNYIMF - 1999 Business, Boise State
CMIT - 1998 University); Chartered
CIHIF - 1998 Financial Analyst.

DISINTERESTED TRUSTEES
Thomas C. Theobald Trustee CHIMT - 2000 Managing Director, 103 Xerox Corporation
(Age 64) CIGMT - 2000 William Blair Capital (business products
CIITI - 2000 Partners (private and services);
CCAIMF - 2000 equity investing) since Anixter
CIMF - 2000 September, 1994 International
CNYIMF - 2000 (formerly Chief (network support
CMIT - 2000 Executive Officer and equipment
CIHIF - 2000 Chairman of the Board distributor);
of Directors, Jones Lang LaSalle
Continental Bank (real estate
Corporation). management
services) and MONY
Group (life
insurance).

DISINTERESTED TRUSTEES
Anne-Lee Verville Trustee CHIMT - 1998 Author and speaker on 103 Chairman of the
Age 56) CIGMT - 1998 educational systems needs Board of
CIITI - 1998 (formerly General Manager, Directors,
CCAIMF - 1999 Global Education Industry Enesco Group,
CIMF - 1999 from 1994 to 1997, and Inc. (designer,
CNYIMF - 1999 President, Applications importer and
CMIT - 1998 Solutions Division from distributor of
CIHIF - 1998 1991 to 1994, IBM giftware and
Corporation (global collectibles).
education and global
applications)).

INTERESTED TRUSTEES
William E. Mayer* Trustee CHIMT - 1994 Managing Partner, Park 105 Lee
(Age 61) CIGMT - 1994 Avenue Equity Partners Enterprises
CIITI - 1994 (private equity fund) (print and
CCAIMF - 1999 since February, 1999 on-line
CIMF - 1999 (formerly Founding media); WR
CNYIMF - 1999 Partner, Development Hambrecht +
CMIT - 1994 Capital LLC from Co. (financial
CIHIF - 1994 November 1996 to service
February, 1999; Dean provider);
and Professor, College First Health
of Business and (healthcare);
Management, University Systech Retail
of Maryland from Systems
October, 1992 to (retail
November, 1996). industry
technology
provider).

INTERESTED TRUSTEES
Joseph R. Palombo* Trustee and CHIMT - 2000 Chief Operating Officer of 103 None
(Age 48) Chairman of CIGMT - 2000 Columbia Management Group,
the Board CIITI - 2000 Inc. since November, 2001;
CCAIMF - 2000 formerly Chief Operations
CIMF - 2000 Officer of Mutual Funds,
CNYIMF - 2000 Liberty Financial
CMIT - 2000 Companies, Inc. from
CIHIF - 2000 August, 2000 to November,
2001; Executive Vice
President of Stein Roe &
Farnham Incorporated
(Stein Roe) since April,
1999; Executive Vice
President and Director of
Colonial since April,
1999; Executive Vice
President and Chief
Administrative Officer of
Liberty Funds Group, LLC
(LFG) since April, 1999;
Director of Stein Roe
since September, 2000;
Trustee and Chairman of
the Board of the Stein Roe
Mutual

Funds since October, 2000;
Manager of Stein Roe
Floating Rate Limited
Liability Company since
October, 2000 (formerly
Vice President of the
Liberty Funds from April,
1999 to August, 2000;
Chief Operating Officer
and Chief Compliance
Officer, Putnam Mutual
Funds from December, 1993
to March, 1999).

* Mr. Mayer is an "interested person" (as defined in the Investment Company
Act of 1940, as amended) by reason of his affiliation with WR Hambrecht +
Co., a registered broker-dealer. Mr. Palombo is an interested person
because he is an employee of Columbia Management Group, Inc., an affiliate
of Colonial.

Year First
Position Elected or
Name with Appointed to Principal Occupation(s)
and Age Funds Office During Past Five Years
------- ----- ------ ----------------------

OFFICERS
Keith T. Banks President CHIMT - 2001 President of the Liberty Funds Complex since
(Age 46) CIGMT - 2001 November, 2001; Chief Investment Officer and
CIITI - 2001 Chief Executive Officer of Columbia
CCAIMF - 2001 Management Group, Inc. since August, 2000
CIMF - 2001 (formerly Managing Director and Head of U.S.
CNYIMF - 2001 Equity, J.P. Morgan Investment Management
CMIT - 2001 from November, 1996 to August, 2000).
CIHIF - 2001

Vicki L. Benjamin Chief CHIMT - 2001 Chief Accounting Officer of the Liberty Funds
(Age 40) Accounting CIGMT - 2001 Complex and Liberty All-Star Funds since
Officer CIITI - 2001 June, 2001; Vice President of LFG since
CCAIMF - 2001 April, 2001 (formerly Vice President,
CIMF - 2001 Corporate Audit, State Street Bank and Trust
CNYIMF - 2001 Company from May, 1998 to April, 2001; Audit
CMIT - 2001 Manager from July, 1994 to June, 1997 and
CIHIF - 2000 Senior Audit Manager from July, 1997 to May,
1998, Coopers & Lybrand, LLP).

Year First
Position Elected or
Name with Appointed to Principal Occupation(s)
and Age Funds Office During Past Five Years
------- ----- ------ ----------------------

OFFICERS
J. Kevin Connaughton Treasurer CHIMT - 2000 Treasurer of the Liberty Funds Complex and
(Age 37) CIGMT - 2000 Liberty All-Star Funds since December, 2000
CIITI - 2000 (formerly Controller of the Liberty Funds and
CCAIMF - 2000 of the Liberty All-Star Funds from February,
CIMF - 2000 1998 to October, 2000); Treasurer of the
CNYIMF - 2000 Stein Roe Funds since February, 2001
CMIT - 2000 (formerly Controller from May, 2000 to
CIHIF - 2000 February, 2001); Senior Vice President of LFG
since January, 2001 (formerly Vice President
from April, 2000 to January, 2001; Vice
President of Colonial from February, 1998 to
October, 2000; Senior Tax Manager, Coopers &
Lybrand, LLP from April, 1996 to January,
1998).

Year First
Position Elected or
Name with Appointed to Principal Occupation(s)
and Age Funds Office During Past Five Years
------- ----- ------ ----------------------

OFFICERS
Jean S. Loewenberg Secretary CHIMT - 2002 Secretary of the Liberty Funds Complex and
(Age 56) CIGMT - 2002 Liberty All-Star Funds since February, 2002;
CIITI - 2002 Senior Vice President and Group Senior Counsel,
CCAIMF - 2002 FleetBoston National Bank since November, 1996.
CIMF - 2002
CNYIMF - 2002
CMIT - 2002
CIHIF - 2002

APPENDIX B.1 - TRUSTEES' COMPENSATION

For the calendar year ended December 31, 2001, the Trustees received from the
Fund Complex the following compensation for serving as Trustees:

Total Compensation from the Fund
Pension or Retirement Complex Paid to the Trustees for
Benefits Accrued as Part the Calendar Year Ended
DISINTERESTED TRUSTEES of Fund Expenses(a) December 31, 2001(b)
- ---------------------- ------------------- --------------------

John A. Bacon(c) N/A $ 95,000
Robert J. Birnbaum N/A 25,300
Tom Bleasdale(c) N/A 103,000(d)
William W. Boyd(c) N/A 50,000
Lora S. Collins(c) N/A 96,000
James E. Grinnell(c) N/A 100,300
Douglas A. Hacker N/A 109,000
Janet Langford Kelly N/A 107,000
Richard W. Lowry N/A 135,300
Salvatore Macera N/A 110,000
James L. Moody, Jr.(c) N/A 91,000
Charles R. Nelson N/A 109,000
John J. Neuhauser N/A 132,510
Thomas E. Stitzel N/A 109,000
Thomas C. Theobald N/A 112,000
Anne-Lee Verville N/A 114,000(f)

INTERESTED TRUSTEES
William E. Mayer N/A 132,300
Joseph R. Palombo(e) N/A N/A

(a) The Funds do not currently provide pension or retirement plan benefits to
the Trustees.

(b) The Fund Complex includes all funds within the Liberty Funds Complex and
the All-Star family of funds, which consisted of 2 closed-end funds (the
"All-Star Funds") as of December 31, 2001. As of December 27, 2000, the
boards of trustees of the Liberty Funds and Stein Roe Funds were
effectively combined into a single board for the Liberty Funds and Stein
Roe Funds. The All-Star Funds have separate boards of directors.

(c) In connection with the combination of the Liberty and Stein Roe boards of
trustees, Messrs. Bacon, Bleasdale, Boyd, Grinnell and Moody and Ms.
Collins will receive $95,000, $103,000, $50,000, $75,000, $91,000, and
$96,000, respectively, for retiring prior to their respective board's
mandatory retirement age. This payment

will continue for the lesser of two years or until the date the Trustee
would otherwise have retired at age 72. The payments, which began in 2001,
are paid quarterly. FleetBoston Financial Corporation ("FleetBoston") and
the Liberty Funds Complex will each bear one-half of the cost of the
payments. The portion of the payments borne by FleetBoston was paid by
Liberty Financial Companies, Inc. ("LFC") prior to November 1, 2001, when
the asset management business of LFC was acquired by Fleet National Bank,
a subsidiary of FleetBoston. The Liberty Funds Complex portion of the
payments will be allocated among the Liberty Funds Complex based on each
fund's share of the Trustee fees for 2000.

(d) During the calendar year ended December 31, 2001, Mr. Bleasdale deferred
his total compensation of $103,000 pursuant to the deferred compensation
plan.

(e) Mr. Palombo does not receive compensation from the funds in the Liberty
Fund Complex because he is an employee of Columbia Management Group, Inc.
which is an affiliate of Colonial.

(f) During the calendar year ended December 31, 2001, Ms. Verville deferred
her total compensation of $114,000, pursuant to the deferred compensation
plan.

APPENDIX B.2 - TRUSTEES' COMPENSATION

For the fiscal year ended November 30, 2001 (October 31, 2001 for the CIHIF),
the Trustees received from each Fund the following compensation for serving as
Trustees:

Aggregate Aggregate Aggregate Aggregate
Compensation Compensation Compensation Compensation
from CHIMT for from CIGMT for from CIITI for from CCAIMF
the Fiscal Year the Fiscal the Fiscal Year for the Fiscal
Ended Year Ended Ended Year Ended
November 30, November 30, November 30, November 30,
DISINTERESTED TRUSTEE 2001 2001 2001 2001
- --------------------- ---- ---- ---- ----

John A. Bacon N/A N/A N/A N/A
Robert J. Birnbaum N/A N/A N/A N/A
Tom Bleasdale $ 137 $ 90 $ 67 $ 56
William W. Boyd N/A N/A N/A N/A
Lora S. Collins 137 90 67 56
James E. Grinnell 137 90 67 56
Douglas A. Hacker 1,205 784 587 496
Janet Langford Kelly 1,181 768 575 486
Richard W. Lowry 1,360 884 662 559
Salvatore Macera 1,355 883 660 557
James L. Moody, Jr. 137 90 67 56
Charles R. Nelson 1,205 784 587 496

John J. Neuhauser 1,326 864 647 547
Thomas E. Stitzel 1,343 874 654 552
Thomas C. Theobald 1,241 806 604 511
Anne-Lee Verville(a) 1,402 913 683 577
INTERESTED TRUSTEE
William E. Mayer 1,325 861 645 544
Joseph R. Palombo N/A N/A N/A N/A

(a) During the fiscal year ended November 30, 2001, Ms. Verville deferred her
total compensation from the Funds of $1,402, $913, $683 and $577 pursuant
to the deferred compensation plan.

Aggregate
Aggregate Aggregate Aggregate Compensation
Compensation Compensation Compensation from CIHIF
from CIMF for from CNYIMF from CMIT for the
the Fiscal Year for the Fiscal for the Fiscal Fiscal Year
Ended Year Ended Year Ended Ended
November 30, November 30, November 30, October 31,
DISINTERESTED TRUSTEE 2001 2001 2001 2001
- --------------------- ---- ---- ---- ----

John A. Bacon N/A N/A N/A N/A
Robert J. Birnbaum N/A N/A N/A N/A
Tom Bleasdale $ 66 $ 47 $ 114 $ 66
William W. Boyd N/A N/A N/A N/A
Lora S. Collins 66 47 114 66
James E. Grinnell 66 47 114 66
Douglas A. Hacker 584 422 970 553
Janet Langford Kelly 572 414 950 542
Richard W. Lowry 658 475 1,096 628
Salvatore Macera 656 474 1,094 625
James L. Moody, Jr. 66 47 114 66
Charles R. Nelson 584 422 970 533
John J. Neuhauser 643 465 1,070 619
Thomas E. Stitzel 650 470 1,084 619
Thomas C. Theobald 601 435 997 569

Anne-Lee Verville(b) 679 490 1,131 647

INTERESTED TRUSTEE
William E. Mayer 641 463 1,067 611
Joseph R. Palombo N/A N/A N/A N/A

(b) During the fiscal year ended November 30, 2001 (October 31, 2001 for
CIHIF), Ms. Verville deferred her total compensation from the Funds of
$679, $490, $1,131 and $647 pursuant to the deferred compensation plan.

APPENDIX C - TRUSTEE SHARE OWNERSHIP

The following table shows the dollar range of equity securities beneficially
owned by each Trustee as of December 31, 2001 (i) in the Funds and (ii) in other
funds within Liberty Funds Complex and the All-Star Funds overseen by the
Trustees.

Dollar Range of Aggregate Dollar Range of
Equity Equity Securities in All
Securities Funds Overseen by Trustee in
Owned in the Liberty Funds Complex and
Name of Trustee Funds All-Star Funds
- --------------- ----- --------------

DISINTERESTED TRUSTEES

Douglas A. Hacker $0 Over $100,000
Janet Langford Kelly $0 Over $100,000
Richard W. Lowry (a) $0 Over $100,000
Salvatore Macera $0 $50,001-$100,000
Charles R. Nelson $0 Over $100,000
John J. Neuhauser (a) $0 Over $100,000
Thomas E. Stitzel $0 $50,001-$100,000
Thomas C. Theobald $0 Over $100,000
Anne-Lee Verville $0 Over $100,000

INTERESTED TRUSTEES

William E. Mayer (a) $0 $50,001-$100,000
Joseph R. Palombo $0 $1-$10,000

(a) Trustee also serves as a Trustee/Director of the All-Star Funds.

TRUSTEE POSITIONS

As of December 31, 2001, no disinterested Trustee or any of their immediate
family members owned beneficially or of record any class of securities of
FleetBoston Financial, Colonial, another investment advisor, sub-advisor or
portfolio manager of any of the Funds in the Liberty Funds Complex, the All-Star
Funds or any person controlling, controlled by or under common control with any
such entity.

APPENDIX D - SHARES OUTSTANDING AND ENTITLED TO VOTE

On March 1, 2002, the Funds had outstanding and entitled to vote at the Meeting
the following shares of beneficial interest:

FUND COMMON SHARES PREFERRED SHARES
- ---- ------------- ----------------

CCAIMF 2,769,696.667 978
CHIMT 31,078,028.000 4800
CIMF 4,230,031.667 1492
CIITI 11,009,000.000 N/A
CIHIF 20,723,717.202 N/A
CIGMT 11,509,000.000 2400
CMIT 27,645,113.000 3600
CNYIMF 1,606,899.667 564

APPENDIX E - OWNERSHIP OF SHARES

On March 1, 2002, the following persons were known to own beneficially or of
record more than 5% of the outstanding securities of the Funds:

% OF
CLASS OF SHARES
FUND SHARES NAME AND ADDRESS # OF SHARES OWNED OWNED
- ---- ------ ---------------- ----------------- -----

CCAIMF Common Cede & CO Fast 2,664,224.000 96.191
Depository Trust Co
55 Water St. 25th Floor
New York, NY 10004

CHIMT Common Cede & CO Fast 27,360,525.000 88.038
Depository Trust Co
55 Water St. 25th Floor
New York, NY 10004

CIMF Common Cede & CO Fast 4,116,126.000 97.307
Depository Trust Co
55 Water St. 25th Floor
New York, NY 10004

CIMITI N/A Cede & CO Fast 9,751,135.000 88.574
Depository Trust Co
55 Water St. 25th Floor
New York, NY 10004

CIHIF N/A Cede & CO Fast 18,899,084.000 91.195
Depository Trust Co
55 Water St. 25th Floor
New York, NY 10004

CIGMT Common Cede & CO Fast 10,023,559.666 87.093
Depository Trust Co
55 Water St. 25th Floor
New York, NY 10004

CMIT Common Cede & CO Fast 23,130,567.000 83.669
Depository Trust Co
55 Water St. 25th Floor
New York, NY 10004

CNYIMF Common Cede & CO Fast 1,585,959.763 98.696
Depository Trust Co
55 Water St. 25th Floor
New York, NY 10004

APPENDIX F - AUDIT COMMITTEE CHARTER

AUDIT COMMITTEE CHARTER
(Adopted August 14, 2001)

I. COMPOSITION OF THE AUDIT COMMITTEE. The Audit Committee shall be comprised
of at least three Board members, none of whom shall be an "interested"
Board member as defined in the Investment Company Act of 1940, or have any
other relationship with the Liberty group of mutual funds (the "Funds")
that may interfere with their exercise of independence from management and
the Funds and shall otherwise satisfy any applicable membership
requirements under the rules of the New York Stock Exchange, Inc.,
National Association of Securities Dealers, Inc. and American Stock
Exchange, Inc.

II. PURPOSES OF THE AUDIT COMMITTEE. The purposes of the Audit Committee are
to assist the Board in:

1. Its oversight of the Funds' accounting and financial reporting
policies and practices and of accounting services provided to the
Funds, including internal accounting controls and procedures;

2. Its oversight of the quality and objectivity of the Funds' financial
statements and the independent audit thereof;

3. Recommending the independent auditors to be selected by the Board,
evaluating and, where deemed appropriate, recommending replacing the
outside auditors.

The function of the Audit Committee is oversight. Management of the
Funds is responsible for the preparation, presentation and
integrity of the Funds' financial statements. Management and its
internal accounting department are responsible for maintaining
appropriate accounting and financial reporting principles and
policies and internal controls and procedures designed to assure
compliance with accounting standards and applicable laws and
regulations. Independent auditors are responsible for planning and
carrying out proper audits and reviews. The independent auditors are
ultimately

accountable to the Board and Audit Committee of the Board. The Board
has the ultimate authority and responsibility to select, evaluate
and, where appropriate, replace the independent auditors.

III. MEETINGS OF THE AUDIT COMMITTEE. The Audit Committee shall meet at
least twice annually, or more frequently if circumstances dictate.
The Audit Committee shall set its agenda and the places and times of
its meetings. The Audit Committee may meet alone, without the
presence of management personnel, with any independent accounting
firm rendering reports to the Audit Committee or with independent
legal counsel. The Audit Committee shall keep minutes of its
meetings.

IV. DUTIES AND POWERS OF THE AUDIT COMMITTEE. To carry out its purposes,
the Audit Committee shall have the following duties and powers:

1. The Audit Committee shall review and discuss the audited financial
statements and other financial information with management and the
independent auditors for the Funds. Such review and discussion will
include any management letters, auditor recommendations to
management, and valuation procedures and fair valuation
methodologies employed with regard to the Funds.

2. The Audit Committee shall review and discuss with the independent
auditors: the scope of audits and audit reports; the personnel,
staffing, qualifications and experience of the auditors; the
compensation of the auditors; and the independence of the auditors,
regarding which the Audit Committee shall secure from the auditors
the information required by Independence Standards Board Standard
No. 1. The Audit Committee shall actively engage in a dialogue with
the independent auditors with respect to any disclosed relationships
or services that may impact the objectivity and independence of the
independent auditors. The Audit Committee also shall be responsible
for recommending that the Board of Trustees take appropriate action
in response to the independent auditors' report to satisfy itself of
the independent auditors' independence.

3. The Audit Committee also shall review and discuss with the
independent auditors the matters required to be discussed pursuant
to SAS 61, including the following:

(a) the quality, not just the acceptability under generally
accepted accounting principles, of the accounting principles
applied by the Funds in their financial reporting;

(b) the level of responsibility assumed by the auditors in the
preparation of the audit;

(c) the initial selection of and changes in significant accounting
policies or their application, and the effect of significant
accounting policies in controversial or emerging areas for
which there is a lack of authoritative consensus or guidance;

(d) the process used by management of the Funds in formulating
particularly sensitive accounting estimates and the basis for
the auditors' conclusions regarding the reasonableness of
those estimates;

(e) the auditors' responsibility for other information in
documents containing audited financial statements, any
procedures performed, and the results of such procedures;

(f) any disagreements with management, whether or not
satisfactorily resolved, about matters that individually or in
the aggregate could be significant to a Fund's financial
statements or the auditors' report;

(g) any consultations with other accountants and significant
matters that were the subject of such consultations;

(h) any major issues discussed with management in connection with
the initial or recurring retention of the auditors, including
the application of accounting principles and auditing
standards; and

(i) any serious difficulties relating to the performance of the
audit that the auditors encountered with management.

4. In the case of a closed-end fund whose shares are listed on a stock
exchange, the Audit Committee shall prepare any report, including
any recommendation of the Audit Committee, required by the rules of
the Securities and Exchange Commission to be included in the Funds'
proxy statements.

5. The Audit Committee shall review this charter at least annually and
recommend any changes to the full Board of Trustees; and

6. The Audit Committee shall report its activities to the full Board of
Trustees on a regular basis and make such recommendations with
respect to the above and other matters as the Audit Committee may
deem necessary or appropriate.

V. RESOURCES AND AUTHORITY OF THE AUDIT COMMITTEE. The Audit Committee shall
have the resources and authority appropriate to discharge its
responsibilities, including the authority to engage independent auditors
for special audits, reviews and other procedures and to retain special
counsel and other experts or consultants at the expense of the Funds.

COLONIAL CALIFORNIA INSURED MUNICIPAL FUND

This Proxy Solicited on Behalf of the Board of Trustees

The undersigned shareholder hereby appoints Keith T. Banks, Ellen Harrington,
Kevin S. Jacobs, Russell L. Kane, Robert R. Leveille and Vincent P. Pietropaolo,
each of them proxies of the undersigned, with power of substitution, to vote at
the Annual Meeting of Shareholders of Colonial California Insured Municipal Fund
to be held in Boston, Massachusetts, on Wednesday, May 22, 2002, and at any
adjournments, as follows on the reverse side of this card.

THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED IN THE MANNER DIRECTED HEREIN
AND, ABSENT DIRECTION, WILL BE VOTED FOR THE ITEMS ON THE REVERSE SIDE. THIS
PROXY WILL BE VOTED IN ACCORDANCE WITH THE HOLDER'S BEST JUDGMENT AS TO ANY
OTHER MATTER.

THE BOARD OF TRUSTEES RECOMMENDS A VOTE FOR THE FOLLOWING ITEMS SET FORTH ON THE
REVERSE SIDE.

- --------------------------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN ON REVERSE AND RETURN PROMPTLY IN THE ENCLOSED
ENVELOPE
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?

- ----------------------------------- ----------------------------------------
- ----------------------------------- ----------------------------------------
- ----------------------------------- ----------------------------------------

COLONIAL CALIFORNIA INSURED MUNICIPAL FUND

MUNICIPAL AUCTION RATE CUMULATIVE PREFERRED SHARES

This Proxy Solicited on Behalf of the Board of Trustees

THE BOARD OF TRUSTEES RECOMMENDS A VOTE FOR THE FOLLOWING ITEMS SET FORTH ON THE
REVERSE SIDE.

HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?

[PREFERRED SHARES]

[X] PLEASE MARK VOTES
AS IN THIS EXAMPLE

COLONIAL CALIFORNIA INSURED MUNICIPAL FUND 1. TO ELECT FIVE TRUSTEES.
(Item 1(d) of Notice)

For All With- For All
Nominees hold Except

[ ] [ ] [ ]

Mark box at right if an address change [ ]
or comment has been Noted on the reverse
side of this card (01) DOUGLAS A. HACKER
(02) JANET LANGFORD KELLY
(03) SALVATORE MACERA
(04) JOSEPH R. PALOMBO
(05) THOMAS E. STITZEL

Instruction: To withhold authority
to vote for any individual nominee,
mark the "For all except" box and
strike a line through the name(s)
of the nominee(s). Your shares will
be voted for the remaining
nominee(s).

2. IN THEIR DISCRETION, UPON SUCH
OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.

Please sign exactly as name(s)
appear(s) hereon. Joint owners
should each sign personally.
When signing as attorney, executor,
administrator, trustee or guardian,
please give full title as such. If
a corporation, please sign in
corporate name by President or
other authorized officer. If a
partnership, please sign in
partnership name by authorized
person.

Please be sure to sign and date this proxy Date ______________

Shareholder sign here _________________________

Co-owner sign here ____________________________

[COMMON SHARES]

[X] PLEASE MARK VOTES
AS IN THIS EXAMPLE

COLONIAL CALIFORNIA INSURED MUNICIPAL FUND 1. TO ELECT THREE TRUSTEES.
(Item 1(d) of Notice)

For All With- For All
Nominees hold Except

[ ] [ ] [ ]

Mark box at right if an address change [ ]
or comment has been Noted on the reverse
side of this card (01) DOUGLAS A. HACKER
(02) JANET LANGFORD KELLY
(03) JOSEPH R. PALOMBO

2. IN THEIR DISCRETION, UPON SUCH
OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.

Please be sure to sign and date this proxy Date ______________

Shareholder sign here _________________________

Co-owner sign here ____________________________

COLONIAL HIGH INCOME MUNICIPAL TRUST

This Proxy Solicited on Behalf of the Board of Trustees

The undersigned shareholder hereby appoints Keith T. Banks, Ellen Harrington,
Kevin S. Jacobs, Russell L. Kane, Robert R. Leveille and Vincent P. Pietropaolo,
each of them proxies of the undersigned, with power of substitution, to vote at
the Annual Meeting of Shareholders of Colonial High Income Municipal Trust to be
held in Boston, Massachusetts, on Wednesday, May 22, 2002, and at any
adjournments, as follows on the reverse side of this card.

THE BOARD OF TRUSTEES RECOMMENDS A VOTE FOR THE FOLLOWING ITEMS SET FORTH ON THE
REVERSE SIDE.

HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?

COLONIAL HIGH INCOME MUNICIPAL TRUST

MUNICIPAL AUCTION RATE CUMULATIVE PREFERRED SHARES
(Series T Shares and Series W Shares)

This Proxy Solicited on Behalf of the Board of Trustees

The undersigned shareholder hereby appoints Keith T. Banks, Ellen Harrington,
Kevin S. Jacobs, Russell L. Kane, Robert R. Leveille and Vincent P. Pietropaolo,
each of them proxies of the undersigned, with power of substitution, to vote at
the Annual Meeting of Shareholders of Colonial High Income Municipal Trust to be
held in Boston, Massachusetts, on Wednesday, May 22, 2002, and at any
adjournments, as follows on the reverse side of this card.

THE BOARD OF TRUSTEES RECOMMENDS A VOTE FOR THE FOLLOWING ITEMS SET FORTH ON THE
REVERSE SIDE.

HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?

[COMMON SHARES]

[X] PLEASE MARK VOTES
AS IN THIS EXAMPLE

COLONIAL HIGH INCOME MUNICIPAL TRUST 1. TO ELECT THREE TRUSTEES.
(Item 1(a) of Notice)

For All With- For All
Nominees hold Except

[ ] [ ] [ ]

Mark box at right if an address change [ ]
or comment has been Noted on the reverse
side of this card (01) DOUGLAS A. HACKER
(02) RICHARD W. LOWRY
(03) JOHN J. NEUHAUSER

2. IN THEIR DISCRETION, UPON SUCH
OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.

Please be sure to sign and date this proxy Date ______________

Shareholder sign here _________________________

Co-owner sign here ____________________________

[PREFERRED SHARES]

[X] PLEASE MARK VOTES
AS IN THIS EXAMPLE

COLONIAL HIGH INCOME MUNICIPAL TRUST 1. TO ELECT FIVE TRUSTEES.
(Item 1(a) of Notice)

For All With- For All
Nominees hold Except

[ ] [ ] [ ]

Mark box at right if an address change [ ]
or comment has been Noted on the reverse
side of this card (01) DOUGLAS A. HACKER
(02) RICHARD W. LOWRY
(03) SALVATORE MACERA
(04) JOHN J. NEUHAUSER
(05) THOMAS E. STITZEL

Instruction: To withhold
authority to vote for any
individual nominee, mark the
"For all except" box and strike
a line through the name(s) of
the nominee(s). Your shares will
be voted for the remaining
nominee(s).

2. IN THEIR DISCRETION, UPON SUCH
OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.

Please be sure to sign and date this proxy Date ______________

Shareholder sign here _________________________

Co-owner sign here ____________________________

COLONIAL INVESTMENT GRADE MUNICIPAL TRUST

This Proxy Solicited on Behalf of the Board of Trustees

The undersigned shareholder hereby appoints Keith T. Banks, Ellen Harrington,
Kevin S. Jacobs, Russell L. Kane, Robert R. Leveille and Vincent P. Pietropaolo,
each of them proxies of the undersigned, with power of substitution, to vote at
the Annual Meeting of Shareholders of Colonial Investment Grade Municipal Trust
to be held in Boston, Massachusetts, on Wednesday, May 22, 2002, and at any
adjournments, as follows on the reverse side of this card.

THE BOARD OF TRUSTEES RECOMMENDS A VOTE FOR THE FOLLOWING ITEMS SET FORTH ON THE
REVERSE SIDE.

HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?

COLONIAL INVESTMENT GRADE MUNICIPAL TRUST

MUNICIPAL AUCTION RATE CUMULATIVE PREFERRED SHARES

This Proxy Solicited on Behalf of the Board of Trustees

The undersigned shareholder hereby appoints Keith T. Banks, Ellen Harrington,
Kevin S. Jacobs, Russell L. Kane, Robert R. Leveille and Vincent P. Pietropaolo,
each of them proxies of the undersigned, with power of substitution, to vote at
the Annual Meeting of Shareholders of Colonial Investment Grade Municipal Trust
to be held in Boston, Massachusetts, on Wednesday, May 22, 2002, and at any
adjournments, as follows on the reverse side of this card.

THE BOARD OF TRUSTEES RECOMMENDS A VOTE FOR THE FOLLOWING ITEMS SET FORTH ON THE
REVERSE SIDE.

HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?

[COMMON SHARES]

[X] PLEASE MARK VOTES
AS IN THIS EXAMPLE

COLONIAL INVESTMENT GRADE MUNICIPAL TRUST 1. TO ELECT THREE TRUSTEES.
(Item 1(b) of Notice)

For All With- For All
Nominees hold Except

[ ] [ ] [ ]

Mark box at right if an address change [ ]
or comment has been Noted on the reverse
side of this card (01) RICHARD W. LOWRY
(02) CHARLES R. NELSON
(03) ANNE-LEE VERVILLE

Instruction: To withhold
authority to vote for any
individual nominee, mark the
"For all except" box and strike
a line through the name(s) of
the nominee(s). Your shares will
be voted for the remaining
nominee(s).

2. IN THEIR DISCRETION, UPON SUCH
OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.

Please be sure to sign and date this proxy Date ______________

Shareholder sign here _________________________

Co-owner sign here ____________________________

[PREFERRED SHARES]

[X] PLEASE MARK VOTES
AS IN THIS EXAMPLE

COLONIAL INVESTMENT GRADE MUNICIPAL TRUST 1. TO ELECT FIVE TRUSTEES.
(Item 1(b) of Notice)

For All With- For All
Nominees hold Except

[ ] [ ] [ ]

Mark box at right if an address change [ ]
or comment has been Noted on the reverse
side of this card (01) RICHARD W. LOWRY
(02) SALVATORE MACERA
(03) CHARLES R. NELSON
(04) THOMAS E. STITZEL
(05) ANNE-LEE VERVILLE

Instruction: To withhold
authority to vote for any
individual nominee, mark the
"For all except" box and strike
a line through the name(s) of
the nominee(s). Your shares will
be voted for the remaining
nominee(s).

2. IN THEIR DISCRETION, UPON SUCH
OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.

Please be sure to sign and date this proxy Date ______________

Shareholder sign here _________________________

Co-owner sign here ____________________________

COLONIAL INTERMEDIATE HIGH INCOME FUND

This Proxy Solicited on Behalf of the Board of Trustees

The undersigned shareholder hereby appoints Keith T. Banks, Ellen Harrington,
Kevin S. Jacobs, Russell L. Kane, Robert R. Leveille and Vincent P. Pietropaolo,
each of them proxies of the undersigned, with power of substitution, to vote at
the Annual Meeting of Shareholders of Colonial Intermediate High Income Fund to
be held in Boston, Massachusetts, on Wednesday, May 22, 2002, and at any
adjournments, as follows on the reverse side of this card.

THE BOARD OF TRUSTEES RECOMMENDS A VOTE FOR THE FOLLOWING ITEMS SET FORTH ON THE
REVERSE SIDE.

HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?

[X] PLEASE MARK VOTES
AS IN THIS EXAMPLE

COLONIAL INTERMEDIATE HIGH INCOME FUND 1. TO ELECT THREE TRUSTEES.
(Item 1(h) of Notice)

For All With- For All
Nominees hold Except

[ ] [ ] [ ]

Mark box at right if an address change [ ]
or comment has been Noted on the reverse
side of this card (01) RICHARD W. LOWRY
(02) WILLIAM E. MAYER
(03) CHARLES R. NELSON

Instruction: To withhold
authority to vote for any
individual nominee, mark the
"For all except" box and strike
a line through the name(s) of
the nominee(s). Your shares will
be voted for the remaining
nominee(s).

2. IN THEIR DISCRETION, UPON SUCH
OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.

Please be sure to sign and date this proxy Date ______________

Shareholder sign here _________________________

Co-owner sign here ____________________________

COLONIAL INTERMARKET INCOME TRUST I

This Proxy Solicited on Behalf of the Board of Trustees

The undersigned shareholder hereby appoints Keith T. Banks, Ellen Harrington,
Kevin S. Jacobs, Russell L. Kane, Robert R. Leveille and Vincent P. Pietropaolo,
each of them proxies of the undersigned, with power of substitution, to vote at
the Annual Meeting of Shareholders of Colonial Intermarket Income Trust I to be
held in Boston, Massachusetts, on Wednesday, May 22, 2002, and at any
adjournments, as follows on the reverse side of this card.

THE BOARD OF TRUSTEES RECOMMENDS A VOTE FOR THE FOLLOWING ITEMS SET FORTH ON THE
REVERSE SIDE.

HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?

[X] PLEASE MARK VOTES
AS IN THIS EXAMPLE

COLONIAL INTERMARKET INCOME TRUST I 1. TO ELECT FOUR TRUSTEES.
(Item 1(c) of Notice)

For All With- For All
Nominees hold Except

[ ] [ ] [ ]

Mark box at right if an address change [ ]
or comment has been Noted on the reverse
side of this card (01) RICHARD W. LOWRY
(02) WILLIAM E. MAYER
(03) THOMAS E. STITZEL
(04) ANNE-LEE VERVILLE

Instruction: To withhold
authority to vote for any
individual nominee, mark the
"For all except" box and strike
a line through the name(s) of
the nominee(s). Your shares will
be voted for the remaining
nominee(s).

2. IN THEIR DISCRETION, UPON SUCH
OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.

Please be sure to sign and date this proxy Date ______________

Shareholder sign here _________________________

Co-owner sign here ____________________________

COLONIAL INSURED MUNICIPAL FUND

This Proxy Solicited on Behalf of the Board of Trustees

The undersigned shareholder hereby appoints Keith T. Banks, Ellen Harrington,
Kevin S. Jacobs, Russell L. Kane, Robert R. Leveille and Vincent P. Pietropaolo,
each of them proxies of the undersigned, with power of substitution, to vote at
the Annual Meeting of Shareholders of Colonial Insured Municipal Fund to be held
in Boston, Massachusetts, on Wednesday, May 22, 2002, and at any adjournments,
as follows on the reverse side of this card.

THE BOARD OF TRUSTEES RECOMMENDS A VOTE FOR THE FOLLOWING ITEMS SET FORTH ON THE
REVERSE SIDE.

HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?

COLONIAL INSURED MUNICIPAL FUND

MUNICIPAL AUCTION RATE CUMULATIVE PREFERRED SHARES

This Proxy Solicited on Behalf of the Board of Trustees

The undersigned shareholder hereby appoints Keith T. Banks, Ellen Harrington,
Kevin S. Jacobs, Russell L. Kane, Robert R. Leveille and Vincent P. Pietropaolo,
each of them proxies of the undersigned, with power of substitution, to vote at
the Annual Meeting of Shareholders of Colonial Insured Municipal Fund to be held
in Boston, Massachusetts, on Wednesday, May 22, 2002, and at any adjournments,
as follows on the reverse side of this card.

THE BOARD OF TRUSTEES RECOMMENDS A VOTE FOR THE FOLLOWING ITEMS SET FORTH ON THE
REVERSE SIDE.

HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?

[PREFERRED SHARES]

[X] PLEASE MARK VOTES
AS IN THIS EXAMPLE

COLONIAL INSURED MUNICIPAL FUND 1. TO ELECT FIVE TRUSTEES.
(Item 1(e) of Notice)

For All With- For All
Nominees hold Except

[ ] [ ] [ ]

Instruction: To withhold
authority to vote for any
individual nominee, mark the
"For all except" box and strike
a line through the name(s) of
the nominee(s). Your shares will
be voted for the remaining
nominee(s).

2. IN THEIR DISCRETION, UPON SUCH
OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.

Please be sure to sign and date this proxy Date ______________

Shareholder sign here _________________________

Co-owner sign here ____________________________

[COMMON SHARES]

[X] PLEASE MARK VOTES
AS IN THIS EXAMPLE

COLONIAL INSURED MUNICIPAL FUND 1. TO ELECT THREE TRUSTEES.
(Item 1(e) of Notice)

For All With- For All
Nominees hold Except

[ ] [ ] [ ]

Mark box at right if an address change [ ]
or comment has been Noted on the reverse
side of this card (01) DOUGLAS A. HACKER
(02) JANET LANGFORD KELLY
(03) JOSEPH R. PALOMBO

2. IN THEIR DISCRETION, UPON SUCH
OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.

Please be sure to sign and date this proxy Date ______________

Shareholder sign here _________________________

Co-owner sign here ____________________________

COLONIAL MUNICIPAL INCOME TRUST

This Proxy Solicited on Behalf of the Board of Trustees

The undersigned shareholder hereby appoints Keith T. Banks, Ellen Harrington,
Kevin S. Jacobs, Russell L. Kane, Robert R. Leveille and Vincent P. Pietropaolo,
each of them proxies of the undersigned, with power of substitution, to vote at
the Annual Meeting of Shareholders of Colonial Municipal Income Trust to be held
in Boston, Massachusetts, on Wednesday, May 22, 2002, and at any adjournments,
as follows on the reverse side of this card.

THE BOARD OF TRUSTEES RECOMMENDS A VOTE FOR THE FOLLOWING ITEMS SET FORTH ON THE
REVERSE SIDE.

HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?

COLONIAL MUNICIPAL INCOME TRUST

MUNICIPAL AUCTION RATE CUMULATIVE PREFERRED SHARES

This Proxy Solicited on Behalf of the Board of Trustees

The undersigned shareholder hereby appoints Keith T. Banks, Ellen Harrington,
Kevin S. Jacobs, Russell L. Kane, Robert R. Leveille and Vincent P. Pietropaolo,
each of them proxies of the undersigned, with power of substitution, to vote at
the Annual Meeting of Shareholders of Colonial Municipal Income Trust to be held
in Boston, Massachusetts, on Wednesday, May 22, 2002, and at any adjournments,
as follows on the reverse side of this card.

THE BOARD OF TRUSTEES RECOMMENDS A VOTE FOR THE FOLLOWING ITEMS SET FORTH ON THE
REVERSE SIDE.

HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?

[COMMON SHARES]

[X] PLEASE MARK VOTES
AS IN THIS EXAMPLE

COLONIAL MUNICIPAL INCOME TRUST 1. TO ELECT THREE TRUSTEES.
(Item 1(g) of Notice)

For All With- For All
Nominees hold Except

[ ] [ ] [ ]

Mark box at right if an address change [ ]
or comment has been Noted on the reverse
side of this card (01) WILLIAM E. MAYER
(02) JOSEPH R. PALOMBO
(03) ANNE-LEE VERVILLE

2. IN THEIR DISCRETION, UPON SUCH
OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.

Please be sure to sign and date this proxy Date ______________

Shareholder sign here _________________________

Co-owner sign here ____________________________

[PREFERED SHARES]

[X] PLEASE MARK VOTES
AS IN THIS EXAMPLE

COLONIAL MUNICIPAL INCOME TRUST 1. TO ELECT FIVE TRUSTEES.
(Item 1(g) of Notice)

For All With- For All
Nominees hold Except

[ ] [ ] [ ]

Mark box at right if an address change [ ]
or comment has been Noted on the reverse
side of this card (01) SALVATORE MACERA
(02) WILLIAM E. MAYER
(03) JOSEPH R. PALOMBO
(04) THOMAS E. STITZEL
(05) ANNE-LEE VERVILLE

2. IN THEIR DISCRETION, UPON SUCH
OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.

Please be sure to sign and date this proxy Date ______________

Shareholder sign here _________________________

Co-owner sign here ____________________________

COLONIAL NEW YORK INSURED MUNICIPAL FUND

This Proxy Solicited on Behalf of the Board of Trustees

The undersigned shareholder hereby appoints Keith T. Banks, Ellen Harrington,
Kevin S. Jacobs, Russell L. Kane, Robert R. Leveille and Vincent P. Pietropaolo,
each of them proxies of the undersigned, with power of substitution, to vote at
the Annual Meeting of Shareholders of Colonial New York Insured Municipal Fund
to be held in Boston, Massachusetts, on Wednesday, May 22, 2002, and at any
adjournments, as follows on the reverse side of this card.

THE BOARD OF TRUSTEES RECOMMENDS A VOTE FOR THE FOLLOWING ITEMS SET FORTH ON THE
REVERSE SIDE.

HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?

COLONIAL NEW YORK INSURED MUNICIPAL FUND

MUNICIPAL AUCTION RATE CUMULATIVE PREFERRED SHARES

This Proxy Solicited on Behalf of the Board of Trustees

The undersigned shareholder hereby appoints Keith T. Banks, Ellen Harrington,
Kevin S. Jacobs, Russell L. Kane, Robert R. Leveille and Vincent P. Pietropaolo,
each of them proxies of the undersigned, with power of substitution, to vote at
the Annual Meeting of Shareholders of Colonial New York Insured Municipal Fund
to be held in Boston, Massachusetts, on Wednesday, May 22, 2002, and at any
adjournments, as follows on the reverse side of this card.

THE BOARD OF TRUSTEES RECOMMENDS A VOTE FOR THE FOLLOWING ITEMS SET FORTH ON THE
REVERSE SIDE.

HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?

[PREFERRED SHARES]

[X] PLEASE MARK VOTES
AS IN THIS EXAMPLE

COLONIAL NEW YORK INSURED MUNICIPAL FUND 1. TO ELECT FIVE TRUSTEES.
(Item 1(f) of Notice)

For All With- For All
Nominees hold Except

[ ] [ ] [ ]

2. IN THEIR DISCRETION, UPON SUCH
OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.

Please be sure to sign and date this proxy Date ______________

Shareholder sign here _________________________

Co-owner sign here ____________________________

[COMMON SHARES]

[X] PLEASE MARK VOTES
AS IN THIS EXAMPLE

COLONIAL NEW YORK INSURED MUNICIPAL FUND 1. TO ELECT THREE TRUSTEES.
(Item 1(f) of Notice)

For All With- For All
Nominees hold Except

[ ] [ ] [ ]

Mark box at right if an address change [ ]
or comment has been Noted on the reverse
side of this card (01) DOUGLAS A. HACKER
(02) JANET LANGFORD KELLY
(03) JOSEPH R. PALOMBO

2. IN THEIR DISCRETION, UPON SUCH
OTHER MATTERS AS MAY PROPERLY COME
BEFORE THE MEETING.

Please be sure to sign and date this proxy Date ______________

Shareholder sign here _________________________

Co-owner sign here ____________________________