Tri-Continental Corporation Fact Sheet as of 2/29/04
an investment you can live with
NYSE Symbol: TY www.tricontinental.com
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FUND OBJECTIVE
Tri-Continental Corporation invests to produce future growth of both capital and
income, while providing reasonable current income.
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PER SHARE CHARACTERISTICS
Net Asset Value $20.25
Market Price $17.43
Premium/(Discount) (13.93)%
Accumulated Realized Capital Loss $(5.97)
Net Unrealized Capital Gain $ 2.32
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PORTFOLIO CHARACTERISTICS+
Median Market Capitalization $57.12 billion
Weighted Average Price/Earnings Ratio (2004)(1) 17.4
Weighted Average Price/Book Ratio (2004)(2) 2.9x
Net Investment Assets $2.41 billion
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INVESTMENT RESULTS*
Total returns for the periods ended February 29, 2004
Average Annual
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One Month** One Year Five Years 10 Years
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Net Asset Value 1.86% 36.69% (2.48)% 7.87%
Market Price 1.99 37.68 (1.74) 7.94
S&P 500*** 1.39 38.50 (0.12) 11.35
Lipper Closed-End Growth & Income Funds Average*** 1.84 42.52 3.03 8.42
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PORTFOLIO COMPOSITION@
The equity portfolio is widely diversified, covering 24 different industries and
101 issues, with not one holding representing more than 3.8% of the portfolio.
Common Stocks 97.8%
Other Investments 0.1
Cash and Cash Equivalents 2.0
Other Assets Less Liabilities 0.1
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TOP EQUITY HOLDINGS@
Tri-Continental Corporation seeks companies selling at price/earnings multiples
below their expected earnings growth rates, with strong management teams and
improving fundamental characteristics.
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HOLDINGS BY SECTOR@
Tri-Continental Corporation S&P 500
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Consumer Discretionary 10.8% 11.1%
Consumer Staples 9.1 11.3
Energy 7.3 5.9
Financials 24.3 21.2
Health Care 11.4 13.4
Industrials 10.5 10.6
Information Technology 16.9 17.2
Materials 3.7 2.9
Telecommunication Services -- 3.5
Utilities 0.9 2.9
Unassigned 1.9 --
Cash 3.2 --
The Corporation is actively managed, and its holdings are subject to change.
* Past performance is no guarantee of future results. The rate of return
will vary and the principal value of an investment will fluctuate. Shares,
if redeemed, may be worth more or less than their original cost. The Net
Asset Value and Market Price investment results for Tri-Continental assume
reinvestment of all distributions.
** Not annualized.
*** The Lipper Closed-End Growth & Income Funds Average and the S&P 500 are
unmanaged benchmarks that assume reinvestment of all distributions. The
S&P 500 excludes the effect of fees. Investors cannot invest directly in
an average or index.
@ As a percentage of net assets.
+ Calculations are based upon information provided by FactSet as of 2/29/04
for the securities held in the Corporation.
(1) 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.
(2) 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.
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 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.
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For more information on Tri-Continental Corporation, including copies of its
current prospectus containing information regarding fees, expenses, and other
important information, please call (800) TRI-1092. Please read the prospectus
carefully before investing or sending money.
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NOT FDIC INSURED O NOT BANK GUARANTEED O MAY LOSE VALUE
CETRI8 2/04