BELL, BOYD & LLOYD LLC
Three First National Plaza
70 West Madison Street, Suite 3300
Chicago, Illinois 60602-4207
312 372-1121
Fax 312 372-2098
December 22, 2000
As counsel for Liberty Floating Rate Fund (the "Registrant"), we
consent to the incorporation by reference of our opinions, filed with the
Registrant's registration statement on Form N-2, on each of the dates listed
below:
<TABLE>
<CAPTION>
---------------------------------------- -------------------------------------- --------------------------------------
Description Date of Opinion Date of Filing
---------------------------------------- -------------------------------------- --------------------------------------
---------------------------------------- -------------------------------------- --------------------------------------
<S> <C> <C>
Initial Filing November 6, 1998 November 6, 1998
(Class Z only)
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Registration of Class A, B and C Shares October 28, 1999 October 29, 1999
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Registration of Additional Class A, B December 11, 2000 December 13, 2000
and C Shares
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</TABLE>
In giving this consent we do not admit that we are in the category of
persons whose consent is required under Section 7 of the Securities Act of 1933.
Very truly yours,
/s/ Bell, Boyd & Lloyd LLC
