Columbia Mid Cap Value Z

Ticker: NAMAX


Investment Objective
The fund seeks long-term capital appreciation.

Investment Strategy
Under normal circumstances, the fund invests at least 80% of net assets in equity securities of U.S. companies that have market capitalizations in the range of the companies in the Russell Midcap Value Index at the time of purchase, that the advisor believes are undervalued and have the potential for long-term growth. The fund may invest up to 20% of total assets in foreign securities. The fund also may invest in real estate investment trusts.

 Morningstar Category
 Mid-Cap Value

 Morningstar Style Box

CUSIP: 19765J830
General Information
Expense Ratio: 0.87%
Inception Date: 11/20/2001
Fund Manager: Team Managed
Managed Fund Since:
Fund Phone Number: 800-345-6611
Fund Website: www.columbiafunds.com
Top 5 Holdings (as of 06/30/2008)
Air Products and Chemicals, Inc.  1.81%
PPL Corporation  1.69%
PG & E Corporation  1.58%
Forest Oil Corporation  1.54%
Hess Corporation  1.53%

Be aware that there are significant differences in risk among investment asset classes. Refer to the investment pyramid for a complete listing of disclosures. Shares of a mutual fund will fluctuate so that, when redeemed, they may be worth more or less than their original cost. Refer to the fund’s prospectus for complete information on the risks and expenses involved with a particular investment. Please note that some fund companies may waive a portion of these expenses.

Mutual funds offered through Lincoln Financial Advisors Corp., a broker/dealer, 1300 S. Clinton St., Fort Wayne, IN, 46802.

This information must be preceded or accompanied by prospectuses for the funds listed. The most current information on a specific mutual fund, including risk, fees and expenses can be viewed online at www.LincolnAlliance.com. Paper copies of prospectuses can be requested by calling 800-234-3500. Read the prospectus carefully before investing.

The Morningstar® category is assigned based on the underlying securities in each portfolio as measured by the portfolio statistics and compositions over the past three years.

The Morningstar Style BoxTM provides a graphical representation of the investment style of stocks and mutual funds. For stocks and stock funds, it classifies securities according to market capitalization (the vertical axis) and growth and value factors (the horizontal axis). Fixed income funds are classified according to credit quality (the vertical axis) and sensitivity to changes in interest rates (the horizontal axis).

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The mutual fund information is compiled by NewRiver, Inc., from documents filed with the Securities & Exchange Commission’s EDGAR database. The information is provided on an ‘as is’ basis and without warranties.

CRN0306-3628