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DIRECTORS APPROVE TERMS OF TRI-CONTINENTAL CORPORATION RIGHTS OFFERING

DIRECTORS APPROVE TERMS OF TRI-CONTINENTAL CORPORATION RIGHTS OFFERING
 NEW YORK, Aug. 13 /PRNewswire/ -- Directors of Tri-Continental Corporation (NYSE: TY) have approved certain terms of the rights offering that was announced on July 30, 1992.
 This offering will entitle common stockholders to one transferable right for each share of common stock held on the record date. Seven rights will be required to purchase one share of common stock at the subscription price. The record date will be on or about Oct. 2, 1992, and the offering period will last approximately one month. The subscription price will be determined shortly prior to the commencement of the offering.
 A registration statement relating to this offering was filed on Aug. 4, 1992, with the Securities and Exchange Commission. This offering will be made only by means of a prospectus.
 Tri-Continental Corporation, founded in 1929, has over $1.9 billion in assets and is the nation's largest, diversified closed-end equity investment company. It is managed by J.W. Seligman & Co. Incorporated, a 128-year old investment manager and advisor with over $10 billion under management.
 -0- 8/13/92
 /CONTACT: Heather MacLeod of J.W. Seligman, 212-488-0383, for Tri- Continental/
 (TY) CO: Tri-Continental Corporation ST: New York IN: FIN SU:


TM-DC -- NY082 -- 9828 08/13/92 23:06 EDT
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Publication:PR Newswire
Date:Aug 13, 1992
Words:213
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