Exhibit 99.1
- --------------------------------------------------------------------------------
TY
LISTED
NYSE
Tri-Continental Corporation
an investment you can live with February 28, 2006
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
FUND OBJECTIVE
- --------------------------------------------------------------------------------
Tri-Continental Corporation invests to produce future growth of both capital and
income, while providing reasonable current income.
- --------------------------------------------------------------------------------
PORTFOLIO MANAGEMENT
- --------------------------------------------------------------------------------
Portfolio Managers:
John B. Cunningham and Michael F. McGarry
Investment Team:
Seligman Core Investment Team
- --------------------------------------------------------------------------------
SELIGMAN'S STYLE ANALYSIS
- --------------------------------------------------------------------------------
MANAGEMENT STYLE
Value Blend Growth
-------------------------------------------
Large o
-------------------------------------------
MARKET CAP Medium
-------------------------------------------
Small
-------------------------------------------
This style analysis is the opinion of Seligman only and has not been provided by
any third party.
- --------------------------------------------------------------------------------
TOP EQUITY HOLDINGS
- --------------------------------------------------------------------------------
Represents 22.9% of net assets.
General Electric
Citigroup
Altria Group
Microsoft
Bank of America
Exxon Mobil
Pfizer
International Business Machines
JPMorgan Chase
Nokia
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 www.seligman.com.
For more information, please call 800-TRI-1092 (800-874-1092) or visit our
website at www.tricontinental.com
- --------------------------------------------------------------------------------
PER SHARE CHARACTERISTICS
- --------------------------------------------------------------------------------
Net Asset Value $ 22.80
Market Price $ 19.83
Premium/(Discount) (13.03)%
Accumulated Realized Capital Loss ($2.21)
Net Unrealized Capital Gain $ 0.51
* $1.30 in Unrealized Gains and $(0.79) in Unrealized Losses.
- --------------------------------------------------------------------------------
DISTRIBUTIONS
- --------------------------------------------------------------------------------
Number of Consecutive Years Dividend Paid 62
Yield of Portfolio 1.21%
SEC Yield 1.43%
Rolling Average Distribution Rate (Includes Dividends and Capital Gains) Five Year* 2.40%
Ten Year* 9.00%
* As of December 31, 2005.
- --------------------------------------------------------------------------------
HOLDINGS BY SECTOR
- --------------------------------------------------------------------------------
Tri-Continental Corporation* S&P 500
Consumer Discretionary 10.34% 10.37%
Consumer Staples 7.77 9.40
Energy 6.77 9.49
Financials 16.18 21.20
Health Care 13.64 13.33
Industrials 7.63 11.25
Information Technology 22.41 15.35
Materials 4.87 2.97
Telecommunication Services 4.45 3.27
Utilities 1.33 3.37
U.S. Government 0.27 0.00
Short-Term 4.34 0.00
* Sectors are shown as a percent of the total portfolio holdings.
- --------------------------------------------------------------------------------
INVESTMENT RESULTS
- --------------------------------------------------------------------------------
Total returns for the periods ended February 28, 2006
Average Annual
----------------------------------------------------
One Month* Year-to-Date* One Year Three Years Five Years Ten Years
- -----------------------------------------------------------------------------------------------------------------
Net Asset Value 0.26% 2.89% 7.50% 16.47% 1.02% 6.43%
Market Price 0.61 6.73 11.62 17.16 0.64 7.05
S&P 500 0.27 2.93 8.39 17.10 2.36 8.92
Lipper Closed-End
Growth & Income
Funds Average 0.38 3.36 9.15 17.77 4.34 8.20
* Not annualized.
- --------------------------------------------------------------------------------
IMPORTANT PERFORMANCE INFORMATION
- --------------------------------------------------------------------------------
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 www.tricontinental.com 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 Lipper Closed-End Growth & Income Funds Average and
the S&P 500 are an unmanaged average and benchmark, respectively, that assume
the reinvestment of all distributions. The S&P 500 excludes the effect of fees.
Investors cannot invest directly in an average or index.
- --------------------------------------------------------------------------------
NOT FDIC INSURED o NOT BANK GUARANTEED o MAY LOSE VALUE
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
TY
LISTED
NYSE
Tri-Continental Corporation
an investment you can live with December 31, 2005
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
PORTFOLIO STATISTICS(1)
- --------------------------------------------------------------------------------
Inception 1929
NYSE Symbol TY
NAV Symbol XTYCX
Median Market Cap $57.3 billion
Weighted Average Price/
Earnings Ratio (2005)(2) 17.50
Weighted Average Price/
Book Ratio (2005)(3) 2.7x
Net Investment Assets $ 2.5 billion
(1) Calculations are based upon information provided by FactSet as of 2/28/06
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), deter- mined 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.
- --------------------------------------------------------------------------------
FOR MORE INFORMATION
- --------------------------------------------------------------------------------
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 (800-874-1092) or visit our
website at www.tricontinental.com
- --------------------------------------------------------------------------------
YEAR-BY-YEAR ANNUAL TOTAL RETURNS
- --------------------------------------------------------------------------------
[THE FOLLOWING TABLE WAS REPRESENTED AS A BAR CHART IN THE PRINTED MATERIAL.]
Year-to-Date
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 (2/28/06)
Market Value 22.0 27.9 26.2 12.6 -11.6 -5.2 -28.2 25.2 13.0 3.0 6.7
Net Asset Value 21.4 26.6 25.8 10.7 -8.3 -10.2 -26.4 25.8 13.4 2.7 2.9
See Important Performance Information on page 1 of this fact sheet.
- --------------------------------------------------------------------------------
GROWTH OF $10,000
- --------------------------------------------------------------------------------
2/28/96 - 2/28/06 (Based on Market Price)
[MOUNTAIN LINE GRAPH OMITTED]
$19,660
Excludes the effect of any costs associated with the purchase of shares. See
Important Performance Information on page 1 of this fact sheet.
- --------------------------------------------------------------------------------
A WORD ABOUT RISK
- --------------------------------------------------------------------------------
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.
- --------------------------------------------------------------------------------
NOT FDIC INSURED o NOT BANK GUARANTEED o MAY LOSE VALUE
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
CETRI8 2/06
- --------------------------------------------------------------------------------