Tri-Continental Corporation Declares First Quarter Distribution

Tri-Continental Corporation (the “Corporation”) (NYSE: TY) today
declared a first quarter ordinary income distribution of $0.2400 per
share of Common Stock and $0.6250 per share of Preferred Stock.
Distributions on Common Stock will be paid on March 28, 2019 to Common
Stockholders of record on March 20, 2019 and dividends on Preferred
Stock will be paid on April 1, 2019 to Preferred Stockholders of record
on March 20, 2019. The ex-dividend date for both the Common Stock and
the Preferred Stock is March 19, 2019. The $0.2400 per share ordinary
income distribution on the Common Stock is in accordance with the
Corporation’s distribution policy.

The Corporation has paid dividends on its common stock for 75
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.

© 2019 Columbia Management Investment Advisers, LLC. All rights reserved.

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