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Tri-Continental declares 1996 gain distribution.

NEW YORK--(BUSINESS WIRE)--Nov. 22, 1996--Directors of Tri-Continental Corporation yesterday declared a capital gain distribution of $2.15 a share, consisting of $2.01 from a net long-term gain and $.14 from net short-term gain realized on investment transactions of Tri-Continental Corporations.

The gain will be payable on Dec. 20, 1996, to stockholders of record Dec. 13, 1996. Shares of Tri-Continental Corporation will be offered "ex-dividend" on Dec. 11, 1996. The cut-off date to change the method of receiving the gain distribution is Dec. 10, 1996.

Tri-Continental Corp. is the nation's largest diversified, closed-end equity investment company. It is offered by J. & W. Seligman & Co. Incorporated, an investment manager and advisor with more than $16 billion in assets, founded in 1864. The firm serves pension plans, institutions and individuals. J. & W. Seligman manages the Seligman Group of Funds, with more than 40 portfolios, including two closed-end municipal bond funds that are traded on the New York Stock Exchange. Specialty international and global funds are provided through Seligman Henderson Co., and Henderson plc, one of Europe's largest independent investment managers.

CONTACT: Investor Relations

Charles W. Kadlec, 212/850-1429

Heather MacLeod, 212/850-1383

or

Media Relations

Rebecca Shroyer, 212/850-1239

Sherman/Morris, 212/682-4824
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Publication:Business Wire
Date:Nov 22, 1996
Words:203
Previous Article:Tri-Continental to pay fourth quarter dividends.
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