LIBERTY FUNDS TRUST III
NSAR-B/A, 2000-01-04
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<PAGE>      PAGE  1
000 B000000 10/31/1999
000 C000000 0000021847
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 Y
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 COLONIAL TRUST III
001 B000000 811-881
001 C000000 6174263750
002 A000000 ONE FINANCIAL CENTER
002 B000000 BOSTON
002 C000000 MA
002 D010000 02111
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000 14
007 C010100  1
007 C020100 COLONIAL SELECT VALUE FUND
007 C030100 N
007 C010200  2
007 C020200 COLONIAL INTERNATIONAL HORIZONS FUND
007 C030200 N
007 C010300  3
007 C020300 COLONIAL GLOBAL UTILITY FUND
007 C030300 N
007 C010400  4
007 C020400 CRABBE HUSON SMALL CAP FUND
007 C030400 N
007 C010500  5
007 C020500 THE COLONIAL FUND
007 C030500 N
007 C010600  6
007 C020600 COLONIAL STRATEGIC BALANCED FUND
007 C030600 N
007 C010700  7
007 C020700 COLONIAL INTERNATIONAL FUND
007 C030700 N
007 C010800  8
007 C020800 COLONIAL GLOBAL UTILITIES FUND
007 C030800 N
007 C010900  9
007 C020900 CRABBE HUSON MANAGED INCOME & EQUITY FUND
007 C030900 N
007 C011000 10
007 C021000 CRABBE HUSON EQUITY FUND
<PAGE>      PAGE  2
007 C031000 N
007 C011100 11
007 C021100 CRABBE HUSON REAL ESTATE INVESTMENT FUND
007 C031100 N
007 C011200 12
007 C021200 CRABBE HUSON OREGON TAX FREE FUND
007 C031200 N
007 C011300 13
007 C021300 CRABBE HUSON CONTRARIAN INCOME FUND
007 C031300 N
007 C011400 14
007 C021400 CRABBE HUSON SPECIAL FUND
007 C031400 N
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
011 A00AA01 COLONIAL MANAGEMENT ASSOCIATES, INC.
011 B00AA01 8-42176
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02111
012 A00AA01 COLONIAL INVESTORS SERVICE CENTER, INC.
012 B00AA01 84-1329
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02111
013 A00AA01 PRICE WATERHOUSE, LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02110
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   51
019 C00AA00 COLGPFUNDS
020 A000001 SALOMON SMITH BARNEY
020 C000001    659
020 A000002 ALPHATRADE
020 C000002    653
020 A000003 PAINE WEBBER INC.
020 C000003    369
020 A000004 JEFFRIES & CO. INC.
020 C000004    231
020 A000005 MERRILL LYNCH
020 C000005    140
020 A000006 INSTINET
020 C000006     56
020 A000007 SANFORD C BERNSTEIN & CO. INC.
020 C000007     56
<PAGE>      PAGE  3
020 A000008 FIRST BOSTON CORP.
020 C000008     49
020 A000009 DONALDSON, LUFKIN & JENRETTE
020 C000009     49
020 A000010 COWEN & CO.
020 C000010     35
021  000000     2297
022 A000001 LEHMAN REPO
022 B000001 13-2518466
022 C000001  18337023
022 D000001    464028
022 A000002 ABN AMRO
022 B000002 13-3227945
022 C000002  15196515
022 D000002    136690
022 A000003 MERRILL LYNCH, PIRCE, FENNER & SMITH
022 B000003 13-2741729
022 C000003   2200963
022 D000003   2146179
022 A000004 GOLDMAN, SACHS & CO.
022 B000004 13-5108809
022 C000004    485885
022 D000004    518259
022 A000005 WARBURG REPO
022 C000005    989804
022 D000005         0
022 A000006 SALOMON SMITH BARNEY
022 C000006    387223
022 D000006    383846
022 A000007 BEAR STEARNS CO. & INC.
022 B000007 13-4946705
022 C000007    203361
022 D000007    221082
022 A000008 GREENWHICH CAPITAL MARKETS
022 B000008 13-3172275
022 C000008    164102
022 D000008    224772
022 A000009 MORGAN STANLEY & CO. INC.
022 B000009 13-2655998
022 C000009     48599
022 D000009     31105
022 A000010 DONALDSON, LUFKIN & JENRETTE
022 B000010 13-2741729
022 C000010   1250455
022 D000010   1222188
023 C000000   39440038
023 D000000    5489369
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
<PAGE>      PAGE  4
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 Y
054 O00AA00 N
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078  000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 N/A
080 C00AA00    25000
081 A00AA00 Y
081 B00AA00 136
082 A00AA00 Y
082 B00AA00   150000
083 B00AA00        0
084 B00AA00        0
086 A010000      0
<PAGE>      PAGE  5
086 A020000      0
086 B010000      0
086 B020000      0
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
086 E010000      0
086 E020000      0
086 F010000      0
086 F020000      0
008 A000101 COLONIAL MANAGEMENT ASSOCIATES, INC.
008 B000101 A
008 C000101 801-2019
008 D010101 BOSTON
008 D020101 MA
008 D030101 02111
015 A000101 CHASE MANHATTAN BANK
015 B000101 C
015 C010101 NEW YORK
015 C020101 NY
015 C030101 10004
015 E010101 X
015 A000102 THE CHASE MANHATTAN BANK
015 B000102 S
015 C010102 BUENOS AIRES
015 D010102 ARGENTINA
015 E040102 X
015 A000103 CHASE MANGATTAN BANK
015 B000103 S
015 C010103 SYDNEY
015 D010103 AUSTRALIA
015 E040103 X
015 A000104 CREDITANSTALT-BANKVEREIN
015 B000104 S
015 C010104 VIENNA
015 D010104 AUSTRIA
015 E040104 X
015 A000105 GENERALE BANK
015 B000105 S
015 C010105 BRUSSELS
015 D010105 BELGIUM
015 E040105 X
015 A000106 GENERALE BANK
015 B000106 S
015 C010106 BRUSSELS
015 D010106 BELGIUM
015 E040106 X
015 A000107 CITIBANK NA
015 B000107 S
015 C010107 SAO PAULO
<PAGE>      PAGE  6
015 D010107 BRAZIL
015 E040107 X
015 A000108 THE ROYAL BANK OF CANADA
015 B000108 S
015 C010108 TORONTO
015 D010108 CANADA
015 E040108 X
015 A000109 DEN DANSKE BANK
015 B000109 S
015 C010109 COPENHAGEN
015 D010109 DENMARK
015 E040109 X
015 A000112 KANSALLIS-OSAKE-PANKKI
015 B000112 S
015 C010112 HELSINKI
015 D010112 FINLAND
015 E040112 X
015 A000113 BANQUE PARIBAS
015 B000113 S
015 C010113 PARIS
015 D010113 FRANCE
015 E040113 X
015 A000114 BERLINER HANDELS UND FRANKFURTER
015 B000114 S
015 C010114 FRANKFURT
015 D010114 GERMANY
015 E040114 X
015 A000115 NATIONAL BANK OF GREECE
015 B000115 S
015 C010115 ATHENS
015 D010115 GREECE
015 E040115 X
015 A000117 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000117 S
015 C010117 JAKARTA
015 D010117 INDONESIA
015 E040117 X
015 A000119 BANK OF IRELAND
015 B000119 S
015 C010119 DUBLIN
015 D010119 IRELAND
015 E040119 X
015 A000120 MORGAN GUARANTY TRUST CO.
015 B000120 S
015 C010120 MILAN
015 D010120 ITALY
015 E040120 X
015 A000121 THE MITSUBISHI BANK, LTD.
015 B000121 S
015 C010121 TOKYO
015 D010121 JAPAN
<PAGE>      PAGE  7
015 E040121 X
015 A000122 CEDEL
015 B000122 S
015 C010122 LUXEMBOURG
015 D010122 LUXEMBOURG
015 E040122 X
015 A000124 STANDARD CHARTERED BANK
015 B000124 S
015 C010124 KUALA LUMPUR
015 D010124 MALAYSIA
015 E040124 X
015 A000125 BANCO NACIONAL DE MEXICO S.A.
015 B000125 S
015 C010125 MEXICO CITY
015 D010125 MEXICO
015 E040125 X
015 A000126 PIERSON, HELDRING & PIERSON, N.A.
015 B000126 S
015 C010126 AMSTERDAM
015 D010126 NETHERLANDS
015 E040126 X
015 A000127 NATIONAL NOMINEES, LTD.
015 B000127 S
015 C010127 AUCKLAND
015 D010127 NEW ZEALAND
015 E040127 X
015 A000128 CHRISTIANIA BANK
015 B000128 S
015 C010128 OSLO
015 D010128 NORWAY
015 E040128 X
015 A000129 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000129 S
015 C010129 MANILA
015 D010129 PHILIPPINES
015 E040129 X
015 A000130 BANCO TOTTA & ACORES S.A.
015 B000130 S
015 C010130 LISBON
015 D010130 PORTUGAL
015 E040130 X
015 A000131 DEUTSCHE BANK
015 B000131 S
015 C010131 KARACHI
015 D010131 PAKISTAN
015 E040131 X
015 A000136 BANCO URQUIJO
015 B000136 S
015 C010136 MADRID
015 D010136 SPAIN
015 E040136 X
<PAGE>      PAGE  8
015 A000137 SVENSKA HANDELSBANKEN
015 B000137 S
015 C010137 STOCKHOLM
015 D010137 SWEDEN
015 E040137 X
015 A000138 BANK LEU LTD.
015 B000138 S
015 C010138 ZURICH
015 D010138 SWITZERLAND
015 E040138 X
015 A000139 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000139 S
015 C010139 BANGKOK
015 D010139 THAILAND
015 E040139 X
015 A000140 CITIBANK, N.A.
015 B000140 S
015 C010140 CARACAS
015 D010140 VENEZUELA
015 E040140 X
015 A000141 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000141 S
015 C010141 HONG KONG
015 D010141 HONG KONG
015 E040141 X
015 A000142 DEVELOPMENT BANK OF SINGAPORE
015 B000142 S
015 C010142 SINGAPORE
015 D010142 SINGAPORE
015 E040142 X
015 A000143 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000143 S
015 C010143 COLOMBO
015 D010143 SRI LANKA
015 E040143 X
015 A000146 CITIBANK, N.A.
015 B000146 S
015 C010146 SANTIAGO
015 D010146 CHILE
015 E040146 X
015 A000147 BARCLAYS BANK PLC
015 B000147 S
015 C010147 NICOSIA
015 D010147 CYPRUS
015 E040147 X
015 A000148 BANK HAPOALIM  B.M.
015 B000148 S
015 C010148 TEL AVIV
015 D010148 ISRAEL
015 E040148 X
015 A000149 ARAB BANK
<PAGE>      PAGE  9
015 B000149 S
015 C010149 AMMAN
015 D010149 JORDAN
015 E040149 X
015 A000150 KOREA EXCHANGE BANK
015 B000150 S
015 C010150 SEOUL
015 D010150 KOREA
015 E040150 X
015 A000151 BANQUE GENERALE DU LUXEMBOURG
015 B000151 S
015 C010151 LUXEMBOURG
015 D010151 LUXEMBOURG
015 E040151 X
015 A000152 CITIBANK, N.A.
015 B000152 S
015 C010152 ISTANBUL
015 D010152 TURKEY
015 E040152 X
015 A000153 BOSTON SAFE DEPOSIT AND TRUST COMPANY
015 B000153 S
015 C010153 LONDON
015 D010153 UNITED KINGDOM
015 E040153 X
015 A000154 CITIBANK, N.A.
015 B000154 S
015 C010154 MONTEVIDEO
015 D010154 URUGUAY
015 E040154 X
024  000100 Y
025 A000101 BEAR STEARNS
025 B000101 13-4946705
025 C000101 E
025 D000101    2909
025 A000102 LEHMAN BROHTERS
025 B000102 13-2518466
025 C000102 E
025 D000102    8495
025 A000103 PAINE WEBBER GROUP
025 B000103 13-2638166
025 C000103 E
025 D000103    3993
025 D000104       0
025 D000105       0
025 D000106       0
025 D000107       0
025 D000108       0
028 A010100     31489
028 A020100        -3
028 A030100         0
028 A040100     36810
<PAGE>      PAGE  10
028 B010100     12813
028 B020100         0
028 B030100         0
028 B040100     15102
028 C010100     10866
028 C020100        54
028 C030100         0
028 C040100     16823
028 D010100      9815
028 D020100         9
028 D030100         0
028 D040100     21821
028 E010100      9587
028 E020100         0
028 E030100         0
028 E040100     16473
028 F010100      9254
028 F020100         0
028 F030100         0
028 F040100     14179
028 G010100     83824
028 G020100        60
028 G030100         0
028 G040100    121208
028 H000100      5919
029  000100 Y
030 A000100   1043
030 B000100  5.75
030 C000100  0.00
031 A000100    102
031 B000100      0
032  000100    941
033  000100      0
034  000100 Y
035  000100   1185
036 A000100 N
036 B000100      0
037  000100 N
038  000100      0
039  000100 N
040  000100 Y
041  000100 Y
042 A000100   0
042 B000100   0
042 C000100 100
042 D000100   0
042 E000100   0
042 F000100   0
042 G000100   0
042 H000100   0
043  000100   4399
<PAGE>      PAGE  11
044  000100      0
045  000100 Y
046  000100 N
047  000100 Y
048  000100  0.700
048 A010100        0
048 A020100 0.000
048 B010100        0
048 B020100 0.000
048 C010100        0
048 C020100 0.000
048 D010100        0
048 D020100 0.000
048 E010100        0
048 E020100 0.000
048 F010100        0
048 F020100 0.000
048 G010100        0
048 G020100 0.000
048 H010100        0
048 H020100 0.000
048 I010100        0
048 I020100 0.000
048 J010100        0
048 J020100 0.000
048 K010100        0
048 K020100 0.000
049  000100 N
050  000100 N
051  000100 N
052  000100 N
053 A000100 N
055 A000100 N
055 B000100 N
056  000100 Y
057  000100 N
058 A000100 N
059  000100 Y
060 A000100 Y
060 B000100 Y
061  000100     1000
062 A000100 N
062 B000100   0.0
062 C000100   0.0
062 D000100   0.0
062 E000100   0.0
062 F000100   0.0
062 G000100   0.0
062 H000100   0.0
062 I000100   0.0
062 J000100   0.0
<PAGE>      PAGE  12
062 K000100   0.0
062 L000100   0.0
062 M000100   0.0
062 N000100   0.0
062 O000100   0.0
062 P000100   0.0
062 Q000100   0.0
062 R000100   0.0
063 A000100   0
063 B000100  0.0
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 Y
066 E000100 N
066 F000100 N
066 G000100 N
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 N
070 M010100 Y
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
<PAGE>      PAGE  13
070 P010100 Y
070 P020100 Y
070 Q010100 N
070 Q020100 N
070 R010100 Y
070 R020100 N
071 A000100    487766
071 B000100    474860
071 C000100    713638
071 D000100   66
072 A000100 12
072 B000100     1478
072 C000100     7345
072 D000100        0
072 E000100        0
072 F000100     5245
072 G000100        0
072 H000100        0
072 I000100     2200
072 J000100        3
072 K000100        0
072 L000100       30
072 M000100       38
072 N000100      118
072 O000100        0
072 P000100        0
072 Q000100      272
072 R000100       55
072 S000100       19
072 T000100     4399
072 U000100        0
072 V000100        0
072 W000100      122
072 X000100    12501
072 Y000100        0
072 Z000100    -3678
072AA000100   172434
072BB000100    75361
072CC010100        0
072CC020100    10041
072DD010100        0
072DD020100        0
072EE000100        0
073 A010100   0.0000
073 A020100   0.0000
073 B000100   0.7200
073 C000100   0.0000
074 A000100        0
074 B000100        0
074 C000100    23649
074 D000100        0
<PAGE>      PAGE  14
074 E000100     1482
074 F000100   709104
074 G000100        0
074 H000100        0
074 I000100      155
074 J000100     1065
074 K000100        0
074 L000100      914
074 M000100       10
074 N000100   736379
074 O000100        0
074 P000100        8
074 Q000100        0
074 R010100        0
074 R020100        0
074 R030100        0
074 R040100     2118
074 S000100        0
074 T000100   734253
074 U010100    18156
074 U020100    14869
074 V010100     0.00
074 V020100     0.00
074 W000100   0.0000
074 X000100        0
074 Y000100        0
075 A000100   749017
075 B000100        0
076  000100     0.00
008 A000201 COLONIAL MANAGEMENT ASSOCIATES, INC.
008 B000201 A
008 C000201 801-2019
008 D010201 BOSTON
008 D020201 MA
008 D030201 02111
015 A000201 THE CHASE MANHATTAN BANK
015 B000201 C
015 C010201 NEW YORK
015 C020201 NY
015 C030201 02108
015 E010201 X
015 A000202 THE CHASE MANTATTAN BANK, N.A.
015 B000202 S
015 C010202 BUENOS AIRES
015 D010202 ARGENTINA
015 E040202 X
015 A000203 THE CHASE MANHATTAN BANK
015 B000203 S
015 C010203 SYDNEY
015 D010203 AUSTRALIA
015 E040203 X
<PAGE>      PAGE  15
015 A000204 CREDITANSTALT-BANKVEREIN
015 B000204 S
015 C010204 VIENNA
015 D010204 AUSTRIA
015 E040204 X
015 A000205 GENERALE BANK
015 B000205 S
015 C010205 BRUSSELS
015 D010205 BELGIUM
015 E040205 X
015 A000206 CITIBANK, N.A.
015 B000206 S
015 C010206 SAO PAULO
015 D010206 BRAZIL
015 E040206 X
015 A000207 THE ROYAL BANK OF CANADA
015 B000207 S
015 C010207 TORONTO
015 D010207 CANADA
015 E040207 X
015 A000208 DEN DANSKE BANK
015 B000208 S
015 C010208 COPENHAGEN
015 D010208 DENMARK
015 E040208 X
015 A000211 KANSALLIS-OSAKE-PANKKI
015 B000211 S
015 C010211 HELSINKI
015 D010211 FINLAND
015 E040211 X
015 A000212 BANQUE PARIBAS
015 B000212 S
015 C010212 PARIS
015 D010212 FRANCE
015 E040212 X
015 A000213 BERLINER HANDEL-UND FRANKFURTER BANK
015 B000213 S
015 C010213 FRANKFURT
015 D010213 GERMANY
015 E040213 X
015 A000214 NATIONAL BANK OF GREECE
015 B000214 S
015 C010214 ATHENS
015 D010214 GREECE
015 E040214 X
015 A000216 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000216 S
015 C010216 HONG KONG
015 D010216 HONG KONG
015 E040216 X
015 A000217 THE HONGKONG AND SHANGHAI BANKING CORP.
<PAGE>      PAGE  16
015 B000217 S
015 C010217 JAKARTA
015 D010217 INDONESIA
015 E040217 X
015 A000218 BANK OF IRELAND
015 B000218 S
015 C010218 DUBLIN
015 D010218 IRELAND
015 E040218 X
015 A000219 MORGAN GUARANTY TRUST CO.
015 B000219 S
015 C010219 MILAN
015 D010219 ITALY
015 E040219 X
015 A000220 THE MITSUBISHI BANK, LTD.
015 B000220 S
015 C010220 TOKYO
015 D010220 JAPAN
015 E040220 X
015 A000221 CEDEL
015 B000221 S
015 C010221 LUXEMBOURG
015 D010221 LUXEMBOURG
015 E040221 X
015 A000222 STANDARD CHARTERED BANK
015 B000222 S
015 C010222 KUALA LUMPUR
015 D010222 MALAYSIA
015 E040222 X
015 A000223 BANCO NACIONAL DE MEXICO S.A.
015 B000223 S
015 C010223 MEXICO CITY
015 D010223 MEXICO
015 E040223 X
015 A000224 PIERSON, HELDRING & PIERSON, N.A.
015 B000224 S
015 C010224 AMSTERDAM
015 D010224 NETHERLANDS
015 E040224 X
015 A000225 NATIONAL NOMINEES, LTD.
015 B000225 S
015 C010225 AUCKLAND
015 D010225 NEW ZEALAND
015 E040225 X
015 A000226 CHRISTIANIA BANK
015 B000226 S
015 C010226 OSLO
015 D010226 NORWAY
015 E040226 X
015 A000227 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000227 S
<PAGE>      PAGE  17
015 C010227 MANILA
015 D010227 PHILIPPINES
015 E040227 X
015 A000228 BANCO TOTTA & ACORES S.A.
015 B000228 S
015 C010228 LISBON
015 D010228 PORTUGAL
015 E040228 X
015 A000230 DEVELOPMENT BANK OF SINGAPORE
015 B000230 S
015 C010230 SINGAPORE
015 D010230 SINGAPORE
015 E040230 X
015 A000232 BANCO URQUIJO
015 B000232 S
015 C010232 MADRID
015 D010232 SPAIN
015 E040232 X
015 A000233 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000233 S
015 C010233 COLOMBO
015 D010233 SRI LANKA
015 E040233 X
015 A000234 SVENSKA HANDELSBANKEN
015 B000234 S
015 C010234 STOCKHOLM
015 D010234 SWEDEN
015 E040234 X
015 A000235 BANK LEU LTD.
015 B000235 S
015 C010235 ZURICH
015 D010235 SWITZERLAND
015 E040235 X
015 A000236 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000236 S
015 C010236 BANGKOK
015 D010236 THAILAND
015 E040236 X
015 A000237 CITIBANK, N.A.
015 B000237 S
015 C010237 CARACAS
015 D010237 VENEZUELA
015 E040237 X
015 A000239 DEUTSCHE BANK
015 B000239 S
015 C010239 KARACHI
015 D010239 PAKISTAN
015 E040239 X
015 A000240 EUROCLEAR
015 B000240 S
015 C010240 BRUSSELS
<PAGE>      PAGE  18
015 D010240 BELGIUM
015 E040240 X
015 A000241 CITIBANK, N.A.
015 B000241 S
015 C010241 SANTIAGO
015 D010241 CHILE
015 E040241 X
015 A000242 BARCLAYS BANK PLC
015 B000242 S
015 C010242 NICOSIA
015 D010242 CYPRUS
015 E040242 X
015 A000243 BANK HAPOALIM B.M.
015 B000243 S
015 C010243 TEL AVIV
015 D010243 ISRAEL
015 E040243 X
015 A000244 ARAB BANK
015 B000244 S
015 C010244 AMMAN
015 D010244 JORDAN
015 E040244 X
015 A000245 KOREA EXCHANGE BANK
015 B000245 S
015 C010245 SEOUL
015 D010245 KOREA
015 E040245 X
015 A000246 BANQUE GENERALE DU LUXEMBOURG
015 B000246 S
015 C010246 LUXEMBOURG
015 D010246 LUXEMBOURG
015 E040246 X
015 A000247 CITIBANK, N.A.
015 B000247 S
015 C010247 ISTANBUL
015 D010247 TURKEY
015 E040247 X
015 A000248 BOSTON SAFE DEPOSIT AND TRUST COMPANY
015 B000248 S
015 C010248 LONDON
015 D010248 UNITED KINGDOM
015 E040248 X
015 A000249 CITIBANK, N.A.
015 B000249 S
015 C010249 MONTEVIDEO
015 D010249 URUGUAY
015 E040249 X
024  000200 N
025 D000201       0
025 D000202       0
025 D000203       0
<PAGE>      PAGE  19
025 D000204       0
025 D000205       0
025 D000206       0
025 D000207       0
025 D000208       0
028 A010200     16614
028 A020200         0
028 A030200         0
028 A040200     16966
028 B010200     13304
028 B020200         0
028 B030200         0
028 B040200     12254
028 C010200     13182
028 C020200         0
028 C030200         0
028 C040200     19291
028 D010200     11622
028 D020200         0
028 D030200         0
028 D040200     12688
028 E010200     24415
028 E020200         0
028 E030200         0
028 E040200     22997
028 F010200     35846
028 F020200         0
028 F030200         0
028 F040200     36200
028 G010200    114983
028 G020200         0
028 G030200         0
028 G040200    120396
028 H000200     36662
029  000200 Y
030 A000200     70
030 B000200  5.75
030 C000200  0.00
031 A000200     10
031 B000200      0
032  000200     60
033  000200      0
034  000200 Y
035  000200    211
036 A000200 N
036 B000200      0
037  000200 N
038  000200      0
039  000200 N
040  000200 Y
041  000200 Y
<PAGE>      PAGE  20
042 A000200   0
042 B000200   0
042 C000200 100
042 D000200   0
042 E000200   0
042 F000200   0
042 G000200   0
042 H000200   0
043  000200    700
044  000200      0
045  000200 Y
046  000200 N
047  000200 Y
048  000200  0.750
048 A010200        0
048 A020200 0.000
048 B010200        0
048 B020200 0.000
048 C010200        0
048 C020200 0.000
048 D010200        0
048 D020200 0.000
048 E010200        0
048 E020200 0.000
048 F010200        0
048 F020200 0.000
048 G010200        0
048 G020200 0.000
048 H010200        0
048 H020200 0.000
048 I010200        0
048 I020200 0.000
048 J010200        0
048 J020200 0.000
048 K010200        0
048 K020200 0.000
049  000200 N
050  000200 N
051  000200 N
052  000200 N
053 A000200 N
055 A000200 N
055 B000200 N
056  000200 Y
057  000200 N
058 A000200 N
059  000200 Y
060 A000200 N
060 B000200 N
061  000200     1000
062 A000200 N
<PAGE>      PAGE  21
062 B000200   0.0
062 C000200   0.0
062 D000200   0.0
062 E000200   0.0
062 F000200   0.0
062 G000200   0.0
062 H000200   0.0
062 I000200   0.0
062 J000200   0.0
062 K000200   0.0
062 L000200   0.0
062 M000200   0.0
062 N000200   0.0
062 O000200   0.0
062 P000200   0.0
062 Q000200   0.0
062 R000200   0.0
063 A000200   0
063 B000200  0.0
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 Y
066 E000200 N
066 F000200 N
066 G000200 N
067  000200 N
068 A000200 N
068 B000200 Y
069  000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 Y
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
<PAGE>      PAGE  22
070 K020200 N
070 L010200 Y
070 L020200 N
070 M010200 Y
070 M020200 Y
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 Y
070 R020200 N
071 A000200     47690
071 B000200     69010
071 C000200    109927
071 D000200   43
072 A000200 12
072 B000200      224
072 C000200     1902
072 D000200        0
072 E000200        0
072 F000200      861
072 G000200        0
072 H000200        0
072 I000200      395
072 J000200       85
072 K000200        0
072 L000200       23
072 M000200       11
072 N000200       43
072 O000200        0
072 P000200        0
072 Q000200       50
072 R000200       55
072 S000200       15
072 T000200      700
072 U000200        0
072 V000200        0
072 W000200       60
072 X000200     2298
072 Y000200        0
072 Z000200     -172
072AA000200    10127
072BB000200    16727
072CC010200    23810
072CC020200        0
072DD010200        0
072DD020200       85
<PAGE>      PAGE  23
072EE000200     8429
073 A010200   0.0000
073 A020200   0.0000
073 B000200   0.9480
073 C000200   0.0000
074 A000200       23
074 B000200     6528
074 C000200        0
074 D000200        0
074 E000200        0
074 F000200   109561
074 G000200        0
074 H000200        0
074 I000200        0
074 J000200        4
074 K000200        0
074 L000200     3155
074 M000200       85
074 N000200   119356
074 O000200        0
074 P000200        0
074 Q000200        0
074 R010200        0
074 R020200        0
074 R030200        0
074 R040200     2884
074 S000200        0
074 T000200   116472
074 U010200     4321
074 U020200     3936
074 V010200     0.00
074 V020200     0.00
074 W000200   0.0000
074 X000200        0
074 Y000200        0
075 A000200        0
075 B000200   114836
076  000200     0.00
008 A000301 COLONIAL MANAGEMENT ASSOCIATES, INC.
008 B000301 A
008 C000301 801-2019
008 D010301 BOSTON
008 D020301 MA
008 D030301 02111
015 A000301 THE CHASE MANHATTAN BANK
015 B000301 C
015 C010301 NEW YORK
015 C020301 MA
015 C030301 02108
015 E010301 X
015 A000302 THE CHASE MANHATTAN BANK, N.A.
<PAGE>      PAGE  24
015 B000302 S
015 C010302 BUENOS AIRES
015 D010302 ARGENTINA
015 E040302 X
015 A000303 THE CHASE MANHATTAN BANK
015 B000303 S
015 C010303 SYDNEY
015 D010303 AUSTRALIA
015 E040303 X
015 A000304 CREDITANSTALT-BANKVEREIN
015 B000304 S
015 C010304 VIENNA
015 D010304 AUSTRIA
015 E040304 X
015 A000305 GENERALE BANK
015 B000305 S
015 C010305 BRUSSELS
015 D010305 BELGIUM
015 E040305 X
015 A000306 CITIBANK, N.A.
015 B000306 S
015 C010306 SAO PAULO
015 D010306 BRAZIL
015 E040306 X
015 A000307 THE ROYAL BANK OF CANADA
015 B000307 S
015 C010307 TORONTO
015 D010307 CANADA
015 E040307 X
015 A000308 DEN DANSKE BANK
015 B000308 S
015 C010308 COPENHAGEN
015 D010308 DENMARK
015 E040308 X
015 A000311 KANSALLIS-OSAKE-PANKKI
015 B000311 S
015 C010311 HELSINKI
015 D010311 FINLAND
015 E040311 X
015 A000312 BANQUE PARIBAS
015 B000312 S
015 C010312 PARIS
015 D010312 FRANCE
015 E040312 X
015 A000313 BERLINER HANDELS UND FRANKFURTER
015 B000313 S
015 C010313 FRANKFURT
015 D010313 GERMANY
015 E040313 X
015 A000314 NATIONAL BANK OF GREECE
015 B000314 S
<PAGE>      PAGE  25
015 C010314 ATHENS
015 D010314 GREECE
015 E040314 X
015 A000316 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000316 S
015 C010316 HONG KONG
015 D010316 HONG KONG
015 E040316 X
015 A000317 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000317 S
015 C010317 JAKARTA
015 D010317 INDONESIA
015 E040317 X
015 A000318 BANK OF IRELAND
015 B000318 S
015 C010318 DUBLIN
015 D010318 IRELAND
015 E040318 X
015 A000319 MORGAN GUARANTY TRUST CO.
015 B000319 S
015 C010319 MILAN
015 D010319 ITALY
015 E040319 X
015 A000320 THE MITSUBISHI BANK, LTD.
015 B000320 S
015 C010320 TOKYO
015 D010320 JAPAN
015 E040320 X
015 A000321 CEDEL
015 B000321 S
015 C010321 LUXEMBOURG
015 D010321 LUXEMBOURG
015 E040321 X
015 A000322 STANDARD CHARTERED BANK
015 B000322 S
015 C010322 KUALA LUMPUR
015 D010322 MALAYSIA
015 E040322 X
015 A000323 BANCO NACIONAL DE MEXICO S.A.
015 B000323 S
015 C010323 MEXICO CITY
015 D010323 MEXICO
015 E040323 X
015 A000324 PIERSON, HELDRING & PIERSON, N.A.
015 B000324 S
015 C010324 AMSTERDAM
015 D010324 NETHERLANDS
015 E040324 X
015 A000325 NATIONAL NOMINEES, LTD.
015 B000325 S
015 C010325 AUCKLAND
<PAGE>      PAGE  26
015 D010325 NEW ZEALAND
015 E040325 X
015 A000326 CHRISTIANIA BANK
015 B000326 S
015 C010326 OSLO
015 D010326 NORWAY
015 E040326 X
015 A000327 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000327 S
015 C010327 MANILA
015 D010327 PHILIPPINES
015 E040327 X
015 A000328 BANCO TOTTA & ACORES S.A.
015 B000328 S
015 C010328 LISBON
015 D010328 PORTUGAL
015 E040328 X
015 A000330 DEVELOPMENT BANK OF SINGAPORE
015 B000330 S
015 C010330 SINGAPORE
015 D010330 SINGAPORE
015 E040330 X
015 A000332 BANCO URQUIJO
015 B000332 S
015 C010332 MADRID
015 D010332 SPAIN
015 E040332 X
015 A000333 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000333 S
015 C010333 COLOMBO
015 D010333 SRI LANKA
015 E040333 X
015 A000334 SVENSKA HANDELSBANKEN
015 B000334 S
015 C010334 STOCKHOLM
015 D010334 SWEDEN
015 E040334 X
015 A000335 BANK LEU LTD.
015 B000335 S
015 C010335 ZURICH
015 D010335 SWITZERLAND
015 E040335 X
015 A000336 THE HONGKONG AND SHANGHAI BANKING CORP.
015 B000336 S
015 C010336 BANGKOK
015 D010336 THAILAND
015 E040336 X
015 A000337 CITIBANK, N.A.
015 B000337 S
015 C010337 CARACAS
015 D010337 VENEZUELA
<PAGE>      PAGE  27
015 E040337 X
015 A000339 DEUTSCHE BANK
015 B000339 S
015 C010339 KARACHI
015 D010339 PAKISTAN
015 E040339 X
015 A000340 EUROCLEAR
015 B000340 S
015 C010340 BRUSSELS
015 D010340 BELGIUM
015 E040340 X
015 A000341 CITIBANK, N.A.
015 B000341 S
015 C010341 SANTIAGO
015 D010341 CHILE
015 E040341 X
015 A000342 BARCLAYS BANK PLC
015 B000342 S
015 C010342 NICOSIA
015 D010342 CYPRUS
015 E040342 X
015 A000343 BANK HAPOALIM B.M.
015 B000343 S
015 C010343 TEL AVIV
015 D010343 ISRAEL
015 E040343 X
015 A000344 ARAB BANK
015 B000344 S
015 C010344 AMMAN
015 D010344 JORDAN
015 E040344 X
015 A000345 KOREA EXCHANGE BANK
015 B000345 S
015 C010345 SEOUL
015 D010345 KOREA
015 E040345 X
015 A000346 BANQUE GENERALE DU LUXEMBOURG
015 B000346 S
015 C010346 LUXEMBOURG
015 D010346 LUXEMBOURG
015 E040346 X
015 A000347 CITIBANK, N.A.
015 B000347 S
015 C010347 ISTANBUL
015 D010347 TURKEY
015 E040347 X
015 A000348 BOSTON SAFE DEPOSIT AND TRUST COMPANY
015 B000348 S
015 C010348 LONDON
015 D010348 UNITED KINGDOM
015 E040348 X
<PAGE>      PAGE  28
015 A000349 CITIBANK, N.A.
015 B000349 S
015 C010349 MONTEVIDEO
015 D010349 URUGUAY
015 E040349 X
024  000300 N
025 A000301 DELETE
025 D000301       0
025 A000302 DELETE
025 D000302       0
025 D000303       0
025 D000304       0
025 D000305       0
025 D000306       0
025 D000307       0
025 D000308       0
028 A010300     18335
028 A020300         0
028 A030300         0
028 A040300     16720
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028 B020300         0
028 B030300         0
028 B040300     11508
028 C010300     11688
028 C020300         0
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028 C040300     15755
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028 D020300         0
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028 D040300     16740
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028 E040300     11807
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028 F040300     29544
028 G010300     98864
028 G020300         0
028 G030300         0
028 G040300    102074
028 H000300      2704
029  000300 Y
030 A000300    139
030 B000300  5.75
030 C000300  0.00
031 A000300     11
031 B000300      0
<PAGE>      PAGE  29
032  000300    127
033  000300      0
034  000300 Y
035  000300    280
036 A000300 N
036 B000300      0
037  000300 N
038  000300      0
039  000300 N
040  000300 Y
041  000300 Y
042 A000300   0
042 B000300   0
042 C000300 100
042 D000300   0
042 E000300   0
042 F000300   0
042 G000300   0
042 H000300   0
043  000300    970
044  000300      0
045  000300 Y
046  000300 N
047  000300 Y
048  000300  0.950
048 A010300        0
048 A020300 0.000
048 B010300        0
048 B020300 0.000
048 C010300        0
048 C020300 0.000
048 D010300        0
048 D020300 0.000
048 E010300        0
048 E020300 0.000
048 F010300        0
048 F020300 0.000
048 G010300        0
048 G020300 0.000
048 H010300        0
048 H020300 0.000
048 I010300        0
048 I020300 0.000
048 J010300        0
048 J020300 0.000
048 K010300        0
048 K020300 0.000
049  000300 N
050  000300 N
051  000300 N
052  000300 N
<PAGE>      PAGE  30
053 A000300 Y
053 B000300 Y
053 C000300 N
055 A000300 N
055 B000300 N
056  000300 Y
057  000300 N
058 A000300 N
059  000300 Y
060 A000300 Y
060 B000300 Y
061  000300     1000
062 A000300 N
062 B000300   0.0
062 C000300   0.0
062 D000300   0.0
062 E000300   0.0
062 F000300   0.0
062 G000300   0.0
062 H000300   0.0
062 I000300   0.0
062 J000300   0.0
062 K000300   0.0
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062 M000300   0.0
062 N000300   0.0
062 O000300   0.0
062 P000300   0.0
062 Q000300   0.0
062 R000300   0.0
063 A000300   0
063 B000300  0.0
066 A000300 Y
066 B000300 N
066 C000300 N
066 D000300 Y
066 E000300 N
066 F000300 N
066 G000300 N
067  000300 N
068 A000300 N
068 B000300 Y
069  000300 N
070 A010300 Y
070 A020300 Y
070 B010300 N
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
<PAGE>      PAGE  31
070 E010300 Y
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 Y
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 Y
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 Y
070 R020300 N
071 A000300     83268
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071 D000300 6496
072 A000300 12
072 B000300      273
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072 L000300       17
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072 Q000300       57
072 R000300       49
072 S000300        9
<PAGE>      PAGE  32
072 T000300      970
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072 V000300        0
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072 Y000300      141
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072BB000300    10310
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072EE000300     6562
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075 A000300        0
075 B000300   134657
076  000300     0.00
<PAGE>      PAGE  33
015 A000401 THE CHASE MANHATTAN BANK
015 B000401 C
015 C010401 NEW YORK
015 C020401 NY
015 C030401 10004
015 E010401 X
024  000400 N
025 D000401       0
025 D000402       0
025 D000403       0
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025 D000405       0
025 D000406       0
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025 D000408       0
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028 A040400     15269
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032  000400     35
<PAGE>      PAGE  34
033  000400      0
034  000400 Y
035  000400      0
036 A000400 N
036 B000400      0
037  000400 N
038  000400      0
039  000400 N
040  000400 Y
041  000400 Y
042 A000400   0
042 B000400   0
042 C000400 100
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042 E000400   0
042 F000400   0
042 G000400   0
042 H000400   0
043  000400     25
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045  000400 Y
046  000400 N
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048 A020400 0.000
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048 B020400 0.000
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048 C020400 0.000
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048 D020400 0.000
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048 E020400 0.000
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048 F020400 0.000
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048 G020400 0.000
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048 H020400 0.000
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048 I020400 0.000
048 J010400        0
048 J020400 0.000
048 K010400        0
048 K020400 0.000
049  000400 N
050  000400 N
051  000400 N
052  000400 N
053 A000400 N
<PAGE>      PAGE  35
055 A000400 N
055 B000400 Y
056  000400 Y
057  000400 N
058 A000400 N
059  000400 Y
060 A000400 Y
060 B000400 Y
061  000400     1000
062 A000400 N
062 B000400   0.0
062 C000400   0.0
062 D000400   0.0
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068 B000400 N
069  000400 N
070 A010400 Y
070 A020400 Y
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070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
<PAGE>      PAGE  36
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070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
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070 N020400 N
070 O010400 Y
070 O020400 Y
070 P010400 Y
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070 Q010400 N
070 Q020400 N
070 R010400 N
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<PAGE>      PAGE  37
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<PAGE>      PAGE  38
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015 C010506 DHAKA
015 D010506 BANGLADESH
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015 A000507 GENERALE BANK
015 B000507 S
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<PAGE>      PAGE  39
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<PAGE>      PAGE  40
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015 D010526 NORWAY
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<PAGE>      PAGE  41
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<PAGE>      PAGE  42
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025 C000502 D
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037  000500 N
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039  000500 N
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041  000500 Y
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051  000500 N
052  000500 N
053 A000500 N
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057  000500 N
058 A000500 N
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070 A020500 Y
070 B010500 Y
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070 C020500 N
070 D010500 N
070 D020500 N
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070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
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070 J020500 N
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070 K020500 Y
070 L010500 Y
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070 M020500 Y
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070 O020500 N
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008 B000601 A
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008 D010601 BOSTON
008 D020601 MA
008 D030601 02111
015 A000601 THE CHASE MANHATTAN BANK
015 B000601 C
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015 C020601 NY
015 C030601 10004
015 E010601 X
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<PAGE>      PAGE  48
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<PAGE>      PAGE  49
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048 J020600 0.000
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048 K020600 0.000
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050  000600 N
051  000600 N
052  000600 N
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<PAGE>      PAGE  50
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070 B020600 N
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070 D020600 N
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070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 Y
070 K010600 Y
070 K020600 N
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070 L020600 Y
070 M010600 N
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070 N010600 Y
070 N020600 N
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070 O020600 N
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<PAGE>      PAGE  51
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<PAGE>      PAGE  52
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008 A000701 COLONIAL MANAGEMENT ASSOCIATES, INC.
008 B000701 A
008 C000701 801-2019
008 D010701 BOSTON
008 D020701 MA
008 D030701 02111
015 A000701 THE CHASE MANHATTAN BANK
015 B000701 C
015 C010701 NEW YORK
015 C020701 NY
015 C030701 10004
015 E010701 X
015 A000702 THE CHASE MANHATTAN BANK, N.A.
015 B000702 S
015 C010702 BUENOS AIRES
015 D010702 ARGENTINA
015 E040702 X
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015 B000703 S
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015 A000704 CREDITANSTALT-BANKVEREIN
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015 E040704 X
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<PAGE>      PAGE  53
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015 A000707 CITIBANK, N.A.
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015 D010707 BRAZIL
015 E040707 X
015 A000708 THE ROYAL BANK OF CANADA
015 B000708 S
015 C010708 TORONTO
015 D010708 CANADA
015 E040708 X
015 A000709 CITIBANK
015 B000709 S
015 C010709 SANTIAGO
015 D010709 CHILE
015 E040709 X
015 A000710 BARCLAYS BANK PLC
015 B000710 S
015 C010710 NICOSIA
015 D010710 CYPRUS
015 E040710 X
015 A000711 DEN DANSKE BANK
015 B000711 S
015 C010711 COPENHAGEN
015 D010711 DENMARK
015 E040711 X
015 A000712 MERITA VANK LTD
015 B000712 S
015 C010712 HELSINKI
015 D010712 FINLAND
015 E040712 X
015 A000713 BANQUE PARIBAS
015 B000713 S
015 C010713 PARIS
015 D010713 FRANCE
015 E040713 X
015 A000714 DRESDNER BANK A.G.
015 B000714 S
015 C010714 FRANKFURT/MAIN
015 D010714 GERMANY
015 E040714 X
015 A000715 BARCLAYS BANK PLC
015 B000715 S
015 C010715 ATHENS
015 D010715 GREECE
015 E040715 X
015 A000716 THE CHASE MANHATTAN BANK
015 B000716 S
015 C010716 CENTRAL HONG KONG
015 D010716 HONG KONG
015 E040716 X
<PAGE>      PAGE  54
015 A000717 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000717 S
015 C010717 JAKARTA
015 D010717 INDONESIA
015 E040717 X
015 A000718 BANK OF IRELAND
015 B000718 S
015 C010718 DUBLIN 1
015 D010718 IRELAND
015 E040718 X
015 A000719 BANK LEUMI LE-ISRAEL B.M.
015 B000719 S
015 C010719 TEL AVIV
015 D010719 ISRAEL
015 E040719 X
015 A000720 BANQUE PARIBAS
015 B000720 S
015 C010720 MILAN
015 D010720 ITALY
015 E040720 X
015 A000721 THE FUJI BANK LTD
015 B000721 S
015 C010721 TOKYO
015 D010721 JAPAN
015 E040721 X
015 A000722 ARAB BANK LIMITED
015 B000722 S
015 C010722 AMMAN  SHMEISANI
015 D010722 JORDAN
015 E040722 X
015 A000723 THE HONG KONG AND SHANGHAI BANKING CORP. LTD.
015 B000723 S
015 C010723 SEOUL
015 D010723 KOREA
015 E040723 X
015 A000724 BANQUE GENERALE DU LUXEMBOURG, S.A.
015 B000724 S
015 C010724 LUXEMBOURG
015 D010724 LUXEMBOURG
015 E040724 X
015 A000725 BANQUE GENERALE DU LUXEMBOURG S.A.
015 B000725 S
015 C010725 LUXEMBOURG
015 D010725 LUXEMBOURG
015 E040725 X
015 A000726 THE CHASE MANHATTAN BANK
015 B000726 S
015 C010726 KUALA LUMPUR
015 D010726 MALAYSIA
015 E040726 X
015 A000727 THE CHASE MANHATTAN BANK S.A.
<PAGE>      PAGE  55
015 B000727 S
015 C010727 MEXICO DF
015 D010727 MEXICO
015 E040727 X
015 A000728 ABN AMRO NV
015 B000728 S
015 C010728 DE BREDA
015 D010728 NETHERLANDS
015 E040728 X
015 A000729 NATIONAL NOMINEES, LTD.
015 B000729 S
015 C010729 AUCKLAND
015 D010729 NEW ZEALAND
015 E040729 X
015 A000730 DEN NORSKE BANK
015 B000730 S
015 C010730 OSLO
015 D010730 NORWAY
015 E040730 X
015 A000731 CITIBANK, N.A.
015 B000731 S
015 C010731 KARACHI
015 D010731 PAKISTAN
015 E040731 X
015 A000732 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000732 S
015 C010732 MANILA
015 D010732 PHILIPPINES
015 E040732 X
015 A000733 BANCO ESPIRITO SANTO E COMMERCIAL DE LISBOA
015 B000733 S
015 C010733 LISBON
015 D010733 PORTUGAL
015 E040733 X
015 A000734 STANDARD CHARTERED BANK
015 B000734 S
015 C010734 SINGAPORE
015 D010734 SINGAPORE
015 E040734 X
015 A000735 THE CHASE MANHATTAN BANK
015 B000735 S
015 C010735 MADRID
015 D010735 SPAIN
015 E040735 X
015 A000736 THE HONGKONG AND SHANGHAI BANKING CORP.LTD.
015 B000736 S
015 C010736 COLOMBO 1
015 D010736 SRI LANKA
015 E040736 X
015 A000737 STANDARD BANK NOMINEES LTD
015 B000737 S
<PAGE>      PAGE  56
015 C010737 STOCKHOLM
015 D010737 SWEDEN
015 E040737 X
015 A000738 UNION BANK OF SWITZERLAND
015 B000738 S
015 C010738 ZURICH
015 D010738 SWITZERLAND
015 E040738 X
015 A000739 THE CHASE MANHATTAN BANK              .
015 B000739 S
015 C010739 BANGKOK
015 D010739 THAILAND
015 E040739 X
015 A000740 THE CHASE MANHATTAN BANK
015 B000740 S
015 C010740 ISTANBUL
015 D010740 TURKEY
015 E040740 X
015 A000741 THE CHASE MANHATTAN BANK
015 B000741 S
015 C010741 LONDON
015 D010741 UNITED KINGDOM
015 E040741 X
015 A000742 FIRST NATIONAL BANK OF BOSTON
015 B000742 S
015 C010742 MONTEVIDEO
015 D010742 URUGUAY
015 E040742 X
015 A000743 CITIBANK, N.A.
015 B000743 S
015 C010743 CARACUS
015 D010743 VENEZUELA
015 E040743 X
024  000700 N
025 A000701 DELETE
025 D000701       0
025 D000702       0
025 D000703       0
025 D000704       0
025 D000705       0
025 D000706       0
025 D000707       0
025 D000708       0
028 A010700      1727
028 A020700         0
028 A030700         0
028 A040700      3083
028 B010700      1808
028 B020700         0
028 B030700         0
028 B040700      3262
<PAGE>      PAGE  57
028 C010700      3670
028 C020700      7695
028 C030700         0
028 C040700      4851
028 D010700      1520
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028 D030700         0
028 D040700      4361
028 E010700      2555
028 E020700         0
028 E030700         0
028 E040700      4132
028 F010700       516
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028 F030700         0
028 F040700      2461
028 G010700     11796
028 G020700      7695
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028 G040700     22150
028 H000700       620
029  000700 Y
030 A000700     19
030 B000700  4.75
030 C000700  0.00
031 A000700      3
031 B000700      0
032  000700     16
033  000700      0
034  000700 Y
035  000700    121
036 A000700 N
036 B000700      0
037  000700 N
038  000700      0
039  000700 N
040  000700 Y
041  000700 Y
042 A000700   0
042 B000700   0
042 C000700 100
042 D000700   0
042 E000700   0
042 F000700   0
042 G000700   0
042 H000700   0
043  000700    267
044  000700     90
045  000700 Y
046  000700 N
047  000700 Y
<PAGE>      PAGE  58
048  000700  0.900
048 A010700        0
048 A020700 0.000
048 B010700        0
048 B020700 0.000
048 C010700        0
048 C020700 0.000
048 D010700        0
048 D020700 0.000
048 E010700        0
048 E020700 0.000
048 F010700        0
048 F020700 0.000
048 G010700        0
048 G020700 0.000
048 H010700        0
048 H020700 0.000
048 I010700        0
048 I020700 0.000
048 J010700        0
048 J020700 0.000
048 K010700        0
048 K020700 0.000
049  000700 N
050  000700 N
051  000700 N
052  000700 N
053 A000700 Y
053 B000700 Y
053 C000700 N
055 A000700 N
055 B000700 N
056  000700 Y
057  000700 N
058 A000700 N
059  000700 Y
060 A000700 N
060 B000700 N
061  000700     1000
062 A000700 N
062 B000700   0.0
062 C000700   0.0
062 D000700   0.0
062 E000700   0.0
062 F000700   0.0
062 G000700   0.0
062 H000700   0.0
062 I000700   0.0
062 J000700   0.0
062 K000700   0.0
062 L000700   0.0
<PAGE>      PAGE  59
062 M000700   0.0
062 N000700   0.0
062 O000700   0.0
062 P000700   0.0
062 Q000700   0.0
062 R000700   0.0
063 A000700   0
063 B000700  0.0
066 A000700 Y
066 B000700 N
066 C000700 N
066 D000700 Y
066 E000700 N
066 F000700 N
066 G000700 N
067  000700 N
068 A000700 N
068 B000700 Y
069  000700 N
070 A010700 Y
070 A020700 Y
070 B010700 N
070 B020700 N
070 C010700 N
070 C020700 N
070 D010700 Y
070 D020700 N
070 E010700 Y
070 E020700 N
070 F010700 Y
070 F020700 N
070 G010700 Y
070 G020700 N
070 H010700 Y
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 Y
070 J020700 N
070 K010700 Y
070 K020700 Y
070 L010700 Y
070 L020700 Y
070 M010700 Y
070 M020700 Y
070 N010700 Y
070 N020700 N
070 O010700 Y
070 O020700 N
070 P010700 Y
070 P020700 Y
<PAGE>      PAGE  60
070 Q010700 N
070 Q020700 N
070 R010700 Y
070 R020700 N
071 A000700      7662
071 B000700     19128
071 C000700     71483
071 D000700   11
072 A000700  6
072 B000700       69
072 C000700      671
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072 E000700        0
072 F000700      329
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072 H000700        0
072 I000700      132
072 J000700       61
072 K000700        0
072 L000700        7
072 M000700        7
072 N000700       18
072 O000700        0
072 P000700        0
072 Q000700       17
072 R000700       13
072 S000700        3
072 T000700      267
072 U000700        8
072 V000700        0
072 W000700        4
072 X000700      866
072 Y000700       21
072 Z000700     -105
072AA000700      305
072BB000700     8909
072CC010700     9963
072CC020700        0
072DD010700      543
072DD020700      546
072EE000700     7255
073 A010700   0.0090
073 A020700   0.0240
073 B000700   0.9200
073 C000700   0.1980
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074 B000700     1275
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074 E000700     3162
074 F000700    69954
<PAGE>      PAGE  61
074 G000700        0
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074 N000700    75253
074 O000700        0
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074 R010700        0
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074 R030700        0
074 R040700      345
074 S000700        0
074 T000700    74885
074 U010700     2815
074 U020700     4961
074 V010700     9.63
074 V020700     9.46
074 W000700   0.0000
074 X000700    16680
074 Y000700        0
075 A000700        0
075 B000700    75540
076  000700     0.00
008 A000801 COLONIAL MANAGEMENT ASSOCIATES, INC.
008 B000801 A
008 C000801 801-2019
008 D010801 BOSTON
008 D020801 MA
008 D030801 02111
015 A000801 CHASE MANHATTAN BANK
015 B000801 C
015 C010801 NEW YORK
015 C020801 NY
015 C030801 10004
015 E010801 X
024  000800 N
025 A000801 DELETE
025 D000801       0
025 D000802       0
025 D000803       0
025 D000804       0
025 D000805       0
025 D000806       0
025 D000807       0
025 D000808       0
028 A010800       903
028 A020800         0
<PAGE>      PAGE  62
028 A030800         0
028 A040800      1920
028 B010800       816
028 B020800       401
028 B030800         0
028 B040800      2621
028 C010800       989
028 C020800         0
028 C030800         0
028 C040800      2588
028 D010800       443
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028 D030800         0
028 D040800      2217
028 E010800       424
028 E020800       490
028 E030800         0
028 E040800      1894
028 F010800       868
028 F020800         0
028 F030800         0
028 F040800      1981
028 G010800      4443
028 G020800       891
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028 G040800     13221
028 H000800      1901
029  000800 Y
030 A000800    489
030 B000800  4.75
030 C000800  0.00
031 A000800    411
031 B000800      0
032  000800     77
033  000800      0
034  000800 Y
035  000800     12
036 A000800 N
036 B000800      0
037  000800 N
038  000800      0
039  000800 N
040  000800 Y
041  000800 Y
042 A000800   0
042 B000800   0
042 C000800 100
042 D000800   0
042 E000800   0
042 F000800   0
042 G000800   0
<PAGE>      PAGE  63
042 H000800   0
043  000800    513
044  000800      0
045  000800 Y
046  000800 N
047  000800 Y
048  000800  0.700
048 A010800        0
048 A020800 0.000
048 B010800        0
048 B020800 0.000
048 C010800        0
048 C020800 0.000
048 D010800        0
048 D020800 0.000
048 E010800        0
048 E020800 0.000
048 F010800        0
048 F020800 0.000
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048 G020800 0.000
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048 I010800        0
048 I020800 0.000
048 J010800        0
048 J020800 0.000
048 K010800        0
048 K020800 0.000
049  000800 N
050  000800 N
051  000800 N
052  000800 N
053 A000800 Y
053 B000800 Y
055 A000800 N
055 B000800 N
056  000800 Y
057  000800 N
058 A000800 N
059  000800 Y
060 A000800 Y
060 B000800 Y
061  000800     1000
062 A000800 N
062 B000800   0.0
062 C000800   0.0
062 D000800   0.0
062 E000800   0.0
062 F000800   0.0
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<PAGE>      PAGE  64
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062 O000800   0.0
062 P000800   0.0
062 Q000800   0.0
062 R000800   0.0
063 A000800   0
063 B000800  0.0
066 A000800 Y
066 E000800 Y
067  000800 N
068 A000800 N
068 B000800 N
069  000800 N
070 A010800 Y
070 A020800 Y
070 B010800 N
070 B020800 N
070 C010800 N
070 C020800 N
070 D010800 Y
070 D020800 N
070 E010800 Y
070 E020800 N
070 F010800 Y
070 F020800 N
070 G010800 Y
070 G020800 N
070 H010800 Y
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 Y
070 J020800 N
070 K010800 Y
070 K020800 N
070 L010800 Y
070 L020800 N
070 M010800 Y
070 M020800 Y
070 N010800 Y
070 N020800 N
070 O010800 Y
070 O020800 N
070 P010800 Y
070 P020800 Y
<PAGE>      PAGE  65
070 Q010800 N
070 Q020800 N
070 R010800 Y
070 R020800 N
071 A000800     59953
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<PAGE>      PAGE  66
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075 A000800        0
075 B000800   181683
076  000800     0.00
010 A000901 COLONIAL MANAGEMENT ASSOCIATES
010 B000901 801-2019
010 C010901 BOSTON
010 C020901 MA
010 C030901 02111
015 A000901 THE CHASE MANHATTAN BANK
015 B000901 C
015 C010901 NEW YORK
015 C020901 NY
015 C030901 10004
015 E010901 X
024  000900 N
025 D000901       0
025 D000902       0
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028 A040900      4144
<PAGE>      PAGE  67
028 B010900        79
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037  000900 N
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039  000900 N
040  000900 Y
041  000900 Y
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042 E000900   0
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042 G000900   0
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<PAGE>      PAGE  68
044  000900      0
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046  000900 N
047  000900 Y
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048 K020900 0.000
055 A000900 N
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056  000900 Y
057  000900 N
058 A000900 N
059  000900 Y
060 A000900 Y
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<PAGE>      PAGE  69
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066 A000900 N
067  000900 Y
068 A000900 N
068 B000900 N
069  000900 N
070 A010900 Y
070 A020900 Y
070 B010900 N
070 B020900 N
070 C010900 N
070 C020900 N
070 D010900 N
070 D020900 N
070 E010900 N
070 E020900 N
070 F010900 N
070 F020900 N
070 G010900 N
070 G020900 N
070 H010900 N
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
070 K020900 N
070 L010900 N
070 L020900 N
070 M010900 N
070 M020900 N
070 N010900 Y
070 N020900 N
070 O010900 Y
070 O020900 Y
070 P010900 Y
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
071 A000900     74129
071 B000900    117456
071 C000900     75080
071 D000900   99
072 A000900 12
<PAGE>      PAGE  70
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072EE000900     2102
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<PAGE>      PAGE  71
074 P000900        0
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074 R010900        0
074 R020900        0
074 R030900        0
074 R040900      155
074 S000900        0
074 T000900    59011
074 U010900     2955
074 U020900     1662
074 V010900     0.00
074 V020900     0.00
074 W000900   0.0000
074 X000900     1075
074 Y000900        0
075 A000900        0
075 B000900    77836
076  000900     0.00
015 A001001 THE CHASE MANHATTAN BANK
015 B001001 C
015 C011001 NEW YORK
015 C021001 NY
015 C031001 10004
015 E011001 X
024  001000 N
028 A011000     15586
028 A021000         0
028 A031000         0
028 A041000     18734
028 B011000      2072
028 B021000         0
028 B031000         0
028 B041000      6284
028 C011000       804
028 C021000         0
028 C031000         0
028 C041000      9562
028 D011000       806
028 D021000         0
028 D031000         0
028 D041000      6723
028 E011000      1686
028 E021000         0
028 E031000         0
028 E041000      3730
028 F011000       470
028 F021000         0
028 F031000         0
028 F041000      2935
028 G011000     21424
028 G021000         0
<PAGE>      PAGE  72
028 G031000         0
028 G041000     47968
028 H001000      9447
029  001000 Y
030 A001000     32
030 B001000  4.75
030 C001000  0.00
031 A001000      4
031 B001000      0
032  001000     28
033  001000      0
034  001000 Y
035  001000      0
036 A001000 N
036 B001000      0
037  001000 N
038  001000      0
039  001000 N
040  001000 Y
041  001000 Y
042 A001000   0
042 B001000   0
042 C001000 100
042 D001000   0
042 E001000   0
042 F001000   0
042 G001000   0
042 H001000   0
043  001000    379
044  001000      0
045  001000 Y
046  001000 N
047  001000 Y
048  001000  7.000
048 A011000        0
048 A021000 0.000
048 B011000        0
048 B021000 0.000
048 C011000        0
048 C021000 0.000
048 D011000        0
048 D021000 0.000
048 E011000        0
048 E021000 0.000
048 F011000        0
048 F021000 0.000
048 G011000        0
048 G021000 0.000
048 H011000        0
048 H021000 0.000
048 I011000        0
<PAGE>      PAGE  73
048 I021000 0.000
048 J011000        0
048 J021000 0.000
048 K011000        0
048 K021000 0.000
055 A001000 N
055 B001000 Y
056  001000 Y
057  001000 N
062 A001000 N
062 B001000   0.0
062 C001000   0.0
062 D001000   0.0
062 E001000   0.0
062 F001000   0.0
062 G001000   0.0
062 H001000   0.0
062 I001000   0.0
062 J001000   0.0
062 K001000   0.0
062 L001000   0.0
062 M001000   0.0
062 N001000   0.0
062 O001000   0.0
062 P001000   0.0
062 Q001000   0.0
062 R001000   0.0
063 A001000   0
063 B001000  0.0
066 A001000 Y
066 B001000 N
066 C001000 N
066 D001000 Y
066 E001000 N
066 F001000 N
066 G001000 N
067  001000 N
068 A001000 N
068 B001000 N
069  001000 N
070 A011000 Y
070 A021000 Y
070 B011000 N
070 B021000 N
070 C011000 N
070 C021000 N
070 D011000 N
070 D021000 N
070 E011000 N
070 E021000 N
070 F011000 N
<PAGE>      PAGE  74
070 F021000 N
070 G011000 N
070 G021000 N
070 H011000 N
070 H021000 N
070 I011000 N
070 I021000 N
070 J011000 Y
070 J021000 N
070 K011000 Y
070 K021000 N
070 L011000 N
070 L021000 N
070 M011000 N
070 M021000 N
070 N011000 Y
070 N021000 Y
070 O011000 Y
070 O021000 Y
070 P011000 Y
070 P021000 N
070 Q011000 N
070 Q021000 N
070 R011000 N
070 R021000 N
071 A001000    221119
071 B001000    359754
071 C001000    164691
071 D001000  134
072 A001000 12
072 B001000      468
072 C001000     2237
072 D001000        0
072 E001000       66
072 F001000     1621
072 G001000       87
072 H001000        0
072 I001000      363
072 J001000       19
072 K001000        0
072 L001000       18
072 M001000       12
072 N001000       43
072 O001000        0
072 P001000       27
072 Q001000       70
072 R001000       29
072 S001000        5
072 T001000      379
072 U001000        0
072 V001000        0
<PAGE>      PAGE  75
072 W001000      163
072 X001000     2836
072 Y001000      478
072 Z001000      413
072AA001000    56274
072BB001000    39658
072CC011000        0
072CC021000     3203
072DD011000     1255
072DD021000      288
072EE001000     8311
073 A011000   0.0000
073 A021000   0.0000
073 B001000   0.0000
073 C001000   0.0000
074 A001000     2314
074 B001000    12479
074 C001000        0
074 D001000        0
074 E001000        0
074 F001000   103785
074 G001000        0
074 H001000        0
074 I001000        0
074 J001000     1141
074 K001000       32
074 L001000       49
074 M001000       25
074 N001000   119825
074 O001000     2327
074 P001000        0
074 Q001000        0
074 R011000        0
074 R021000        0
074 R031000        0
074 R041000      408
074 S001000        0
074 T001000   117090
074 U011000     6104
074 U021000      872
074 V011000     0.00
074 V021000     0.00
074 W001000   0.0000
074 X001000        0
074 Y001000        0
075 A001000        0
075 B001000   173013
076  001000     0.00
015 A001101 THE CHASE MANHATTAN BANK
015 B001101 C
015 C011101 NEW YORK
<PAGE>      PAGE  76
015 C021101 NY
015 C031101 10004
015 E011101 X
024  001100 N
028 A011100       399
028 A021100         0
028 A031100         0
028 A041100       581
028 B011100       181
028 B021100       115
028 B031100         0
028 B041100       602
028 C011100       222
028 C021100         0
028 C031100         0
028 C041100      1046
028 D011100       260
028 D021100         0
028 D031100         0
028 D041100       728
028 E011100       183
028 E021100       103
028 E031100         0
028 E041100       889
028 F011100        84
028 F021100         0
028 F031100         0
028 F041100       410
028 G011100      1329
028 G021100       218
028 G031100         0
028 G041100      4256
028 H001100       370
029  001100 Y
030 A001100     87
030 B001100  5.75
030 C001100  0.00
031 A001100     10
031 B001100      0
032  001100     77
033  001100      0
034  001100 Y
035  001100      3
036 A001100 N
036 B001100      0
037  001100 N
038  001100      0
040  001100 Y
041  001100 Y
042 A001100   0
042 B001100   0
<PAGE>      PAGE  77
042 C001100 100
042 D001100   0
042 E001100   0
042 F001100   0
042 G001100   0
042 H001100   0
043  001100     36
044  001100      0
045  001100 Y
046  001100 N
047  001100 Y
048  001100  7.000
048 A011100        0
048 A021100 0.000
048 B011100        0
048 B021100 0.000
048 C011100        0
048 C021100 0.000
048 D011100        0
048 D021100 0.000
048 E011100        0
048 E021100 0.000
048 F011100        0
048 F021100 0.000
048 G011100        0
048 G021100 0.000
048 H011100        0
048 H021100 0.000
048 I011100        0
048 I021100 0.000
048 J011100        0
048 J021100 0.000
048 K011100        0
048 K021100 0.000
055 A001100 N
055 B001100 Y
056  001100 Y
057  001100 N
062 A001100 N
062 B001100   0.0
062 C001100   0.0
062 D001100   0.0
062 E001100   0.0
062 F001100   0.0
062 G001100   0.0
062 H001100   0.0
062 I001100   0.0
062 J001100   0.0
062 K001100   0.0
062 L001100   0.0
062 M001100   0.0
<PAGE>      PAGE  78
062 N001100   0.0
062 O001100   0.0
062 P001100   0.0
062 Q001100   0.0
062 R001100   0.0
063 A001100   0
063 B001100  0.0
066 A001100 Y
066 D001100 Y
067  001100 N
068 A001100 N
068 B001100 N
069  001100 N
070 A011100 Y
070 A021100 Y
070 B011100 N
070 B021100 N
070 C011100 N
070 C021100 N
070 D011100 N
070 D021100 N
070 E011100 N
070 E021100 N
070 F011100 N
070 F021100 N
070 G011100 N
070 G021100 N
070 H011100 N
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 Y
070 J021100 N
070 K011100 Y
070 K021100 N
070 L011100 N
070 L021100 N
070 M011100 N
070 M021100 N
070 N011100 Y
070 N021100 Y
070 O011100 Y
070 O021100 Y
070 P011100 Y
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100     10763
071 B001100     16709
<PAGE>      PAGE  79
071 C001100     13205
071 D001100   82
072 A001100 12
072 B001100       20
072 C001100      948
072 D001100        0
072 E001100        3
072 F001100      137
072 G001100        7
072 H001100        0
072 I001100       44
072 J001100        5
072 K001100        0
072 L001100        2
072 M001100        7
072 N001100       24
072 O001100        0
072 P001100        0
072 Q001100       27
072 R001100        6
072 S001100        4
072 T001100       36
072 U001100       15
072 V001100        0
072 W001100        4
072 X001100      318
072 Y001100      111
072 Z001100      764
072AA001100     1121
072BB001100     1355
072CC011100        0
072CC021100      741
072DD011100      452
072DD021100       20
072EE001100      282
073 A011100   0.0000
073 A021100   0.0000
073 B001100   0.0000
073 C001100   0.0000
074 A001100        1
074 B001100      344
074 C001100        0
074 D001100        0
074 E001100        0
074 F001100     9132
074 G001100        0
074 H001100        0
074 I001100        0
074 J001100      314
074 K001100       18
074 L001100       27
<PAGE>      PAGE  80
074 M001100        0
074 N001100     9836
074 O001100      235
074 P001100        0
074 Q001100        0
074 R011100       58
074 R021100        0
074 R031100        0
074 R041100       37
074 S001100        0
074 T001100     9506
074 U011100      857
074 U021100      138
074 V011100     0.00
074 V021100     0.00
074 W001100   0.0000
074 X001100      290
074 Y001100        0
075 A001100        0
075 B001100    13700
076  001100     0.00
015 A001201 THE CHASE MANHATTAN BANK
015 B001201 C
015 C011201 NEW YORK
015 C021201 NY
015 C031201 10004
015 E011201 X
024  001200 N
028 A011200        61
028 A021200        60
028 A031200         0
028 A041200       280
028 B011200       178
028 B021200        60
028 B031200         0
028 B041200       303
028 C011200         9
028 C021200        61
028 C031200         0
028 C041200       519
028 D011200        13
028 D021200        63
028 D031200         0
028 D041200       795
028 E011200        55
028 E021200        59
028 E031200         0
028 E041200       186
028 F011200        14
028 F021200        58
028 F031200         0
<PAGE>      PAGE  81
028 F041200       261
028 G011200       330
028 G021200       361
028 G031200         0
028 G041200      2344
028 H001200       109
029  001200 Y
030 A001200      2
030 B001200  4.75
030 C001200  0.00
031 A001200      0
031 B001200      0
032  001200      2
033  001200      0
034  001200 Y
035  001200      0
036 A001200 N
036 B001200      0
037  001200 N
038  001200      0
039  001200 N
040  001200 Y
041  001200 Y
042 A001200   0
042 B001200   0
042 C001200 100
042 D001200   0
042 E001200   0
042 F001200   0
042 G001200   0
042 H001200   0
043  001200     59
044  001200      0
045  001200 Y
046  001200 N
047  001200 Y
048  001200  7.000
048 A011200        0
048 A021200 0.000
048 B011200        0
048 B021200 0.000
048 C011200        0
048 C021200 0.000
048 D011200        0
048 D021200 0.000
048 E011200        0
048 E021200 0.000
048 F011200        0
048 F021200 0.000
048 G011200        0
048 G021200 0.000
<PAGE>      PAGE  82
048 H011200        0
048 H021200 0.000
048 I011200        0
048 I021200 0.000
048 J011200        0
048 J021200 0.000
048 K011200        0
048 K021200 0.000
055 A001200 N
055 B001200 N
056  001200 Y
057  001200 N
062 A001200 Y
062 B001200   0.0
062 C001200   0.0
062 D001200   0.0
062 E001200  98.8
062 F001200   0.0
062 G001200   0.0
062 H001200   0.0
062 I001200   0.0
062 J001200   0.0
062 K001200   0.0
062 L001200   0.0
062 M001200   0.0
062 N001200   0.0
062 O001200   0.0
062 P001200   0.0
062 Q001200   0.0
062 R001200   1.2
063 A001200   0
063 B001200  8.5
064 A001200 N
064 B001200 N
066 A001200 N
067  001200 N
068 A001200 N
068 B001200 N
069  001200 N
070 A011200 N
070 A021200 N
070 B011200 N
070 B021200 N
070 C011200 N
070 C021200 N
070 D011200 N
070 D021200 N
070 E011200 N
070 E021200 N
070 F011200 N
070 F021200 N
<PAGE>      PAGE  83
070 G011200 N
070 G021200 N
070 H011200 N
070 H021200 N
070 I011200 N
070 I021200 N
070 J011200 N
070 J021200 N
070 K011200 N
070 K021200 N
070 L011200 N
070 L021200 N
070 M011200 N
070 M021200 N
070 N011200 N
070 N021200 N
070 O011200 Y
070 O021200 N
070 P011200 Y
070 P021200 N
070 Q011200 N
070 Q021200 N
070 R011200 N
070 R021200 N
071 A001200       968
071 B001200      3693
071 C001200     23546
071 D001200    4
072 A001200 12
072 B001200     1208
072 C001200        0
072 D001200        0
072 E001200        0
072 F001200      118
072 G001200       12
072 H001200        0
072 I001200       44
072 J001200        3
072 K001200        0
072 L001200        2
072 M001200        7
072 N001200        1
072 O001200        0
072 P001200        0
072 Q001200       27
072 R001200        8
072 S001200        2
072 T001200       59
072 U001200        0
072 V001200        0
072 W001200       24
<PAGE>      PAGE  84
072 X001200      307
072 Y001200       75
072 Z001200      976
072AA001200      181
072BB001200        5
072CC011200        0
072CC021200     2202
072DD011200      978
072DD021200        0
072EE001200      620
073 A011200   0.0000
073 A021200   0.0000
073 B001200   0.0000
073 C001200   0.0000
074 A001200        0
074 B001200        0
074 C001200        0
074 D001200    20377
074 E001200        0
074 F001200        0
074 G001200        0
074 H001200        0
074 I001200        0
074 J001200        0
074 K001200        0
074 L001200      336
074 M001200        0
074 N001200    20713
074 O001200        0
074 P001200        0
074 Q001200        0
074 R011200        0
074 R021200        0
074 R031200        0
074 R041200       93
074 S001200        0
074 T001200    20620
074 U011200     1770
074 U021200        5
074 V011200     0.00
074 V021200     0.00
074 W001200   0.0000
074 X001200      402
074 Y001200        0
075 A001200        0
075 B001200    23668
076  001200     0.00
015 A001301 THE CHASE MANHATTAN BANK
015 B001301 C
015 C011301 NEW YORK
015 C021301 NY
<PAGE>      PAGE  85
015 C031301 10004
015 E011301 X
024  001300 N
028 A011300        24
028 A021300        15
028 A031300         0
028 A041300       100
028 B011300       121
028 B021300        14
028 B031300         0
028 B041300       163
028 C011300        60
028 C021300        14
028 C031300         0
028 C041300       196
028 D011300        39
028 D021300        14
028 D031300         0
028 D041300       201
028 E011300      4230
028 E021300        35
028 E031300         0
028 E041300        84
028 F011300       139
028 F021300        36
028 F031300         0
028 F041300       158
028 G011300      4613
028 G021300       128
028 G031300         0
028 G041300       901
028 H001300       328
029  001300 Y
030 A001300      1
030 B001300  4.75
030 C001300  0.00
031 A001300      0
031 B001300      0
032  001300      1
033  001300      0
034  001300 Y
035  001300      0
036 A001300 N
036 B001300      0
037  001300 N
038  001300      0
040  001300 Y
041  001300 Y
042 A001300   0
042 B001300   0
042 C001300 100
<PAGE>      PAGE  86
042 D001300   0
042 E001300   0
042 F001300   0
042 G001300   0
042 H001300   0
043  001300     13
044  001300      0
045  001300 Y
046  001300 N
047  001300 Y
048  001300  7.000
048 A011300        0
048 A021300 0.000
048 B011300        0
048 B021300 0.000
048 C011300        0
048 C021300 0.000
048 D011300        0
048 D021300 0.000
048 E011300        0
048 E021300 0.000
048 F011300        0
048 F021300 0.000
048 G011300        0
048 G021300 0.000
048 H011300        0
048 H021300 0.000
048 I011300        0
048 I021300 0.000
048 J011300        0
048 J021300 0.000
048 K011300        0
048 K021300 0.000
055 A001300 N
055 B001300 Y
056  001300 Y
057  001300 N
062 A001300 Y
062 B001300   0.0
062 C001300   0.0
062 D001300   0.0
062 E001300   0.0
062 F001300   0.0
062 G001300   0.0
062 H001300   0.0
062 I001300   0.0
062 J001300   0.0
062 K001300   0.0
062 L001300   0.0
062 M001300  24.7
062 N001300  21.0
<PAGE>      PAGE  87
062 O001300   0.0
062 P001300  51.9
062 Q001300   2.7
062 R001300  -0.4
063 A001300   0
063 B001300 12.7
064 A001300 N
064 B001300 N
066 A001300 N
067  001300 N
068 A001300 N
068 B001300 N
069  001300 N
070 A011300 Y
070 A021300 Y
070 B011300 N
070 B021300 N
070 C011300 N
070 C021300 N
070 D011300 N
070 D021300 N
070 E011300 N
070 E021300 N
070 F011300 N
070 F021300 N
070 G011300 N
070 G021300 N
070 H011300 N
070 H021300 N
070 I011300 N
070 I021300 N
070 J011300 Y
070 J021300 N
070 K011300 Y
070 K021300 N
070 L011300 N
070 L021300 N
070 M011300 N
070 M021300 N
070 N011300 Y
070 N021300 N
070 O011300 Y
070 O021300 Y
070 P011300 Y
070 P021300 N
070 Q011300 N
070 Q021300 N
070 R011300 N
070 R021300 N
071 A001300     11911
071 B001300     12184
<PAGE>      PAGE  88
071 C001300     68967
071 D001300  196
072 A001300 12
072 B001300      374
072 C001300        0
072 D001300        0
072 E001300        0
072 F001300       44
072 G001300        3
072 H001300        0
072 I001300       15
072 J001300        5
072 K001300        0
072 L001300        1
072 M001300        6
072 N001300       64
072 O001300        0
072 P001300        0
072 Q001300       27
072 R001300        5
072 S001300        6
072 T001300       13
072 U001300        0
072 V001300        0
072 W001300        6
072 X001300      195
072 Y001300      150
072 Z001300      328
072AA001300      151
072BB001300       59
072CC011300        0
072CC021300      362
072DD011300        0
072DD021300        0
072EE001300        0
073 A011300   0.0000
073 A021300   0.0000
073 B001300   0.0000
073 C001300   0.0000
074 A001300        0
074 B001300       91
074 C001300        0
074 D001300     8143
074 E001300        0
074 F001300        0
074 G001300        0
074 H001300        0
074 I001300        0
074 J001300       15
074 K001300       37
074 L001300      128
<PAGE>      PAGE  89
074 M001300        0
074 N001300     8414
074 O001300      100
074 P001300        0
074 Q001300        0
074 R011300        0
074 R021300        0
074 R031300        0
074 R041300      107
074 S001300        0
074 T001300     8207
074 U011300      380
074 U021300      432
074 V011300     0.00
074 V021300     0.00
074 W001300   0.0000
074 X001300      159
074 Y001300        0
075 A001300        0
075 B001300     5861
076  001300     0.00
015 A001401 THE CHASE MANHATTAN BANK
015 B001401 C
015 C011401 NEW YORK
015 C021401 NY
015 C031401 10004
015 E011401 X
024  001400 N
028 A011400     14109
028 A021400         0
028 A031400         0
028 A041400      6457
028 B011400      2191
028 B021400         0
028 B031400         0
028 B041400     10170
028 C011400      2479
028 C021400         0
028 C031400         0
028 C041400     17135
028 D011400       106
028 D021400         0
028 D031400         0
028 D041400      3589
028 E011400       135
028 E021400         0
028 E031400         0
028 E041400      1800
028 F011400       558
028 F021400         0
028 F031400         0
<PAGE>      PAGE  90
028 F041400      1917
028 G011400     19578
028 G021400         0
028 G031400         0
028 G041400     41068
028 H001400     19086
029  001400 Y
030 A001400    127
030 B001400  5.75
030 C001400  0.00
031 A001400     11
031 B001400      0
032  001400    116
033  001400      0
034  001400 N
035  001400      0
036 B001400      0
037  001400 N
038  001400      0
040  001400 Y
041  001400 Y
042 A001400   0
042 B001400   0
042 C001400 100
042 D001400   0
042 E001400   0
042 F001400   0
042 G001400   0
042 H001400   0
043  001400    192
044  001400      0
045  001400 Y
048  001400  7.000
048 A011400        0
048 A021400 0.000
048 B011400        0
048 B021400 0.000
048 C011400        0
048 C021400 0.000
048 D011400        0
048 D021400 0.000
048 E011400        0
048 E021400 0.000
048 F011400        0
048 F021400 0.000
048 G011400        0
048 G021400 0.000
048 H011400        0
048 H021400 0.000
048 I011400        0
048 I021400 0.000
<PAGE>      PAGE  91
048 J011400        0
048 J021400 0.000
048 K011400        0
048 K021400 0.000
055 A001400 N
055 B001400 Y
056  001400 Y
057  001400 N
062 A001400 N
062 B001400   0.0
062 C001400   0.0
062 D001400   0.0
062 E001400   0.0
062 F001400   0.0
062 G001400   0.0
062 H001400   0.0
062 I001400   0.0
062 J001400   0.0
062 K001400   0.0
062 L001400   0.0
062 M001400   0.0
062 N001400   0.0
062 O001400   0.0
062 P001400   0.0
062 Q001400   0.0
062 R001400   0.0
063 A001400   0
063 B001400  0.0
066 A001400 Y
066 C001400 Y
067  001400 N
068 A001400 N
068 B001400 N
069  001400 N
070 A011400 Y
070 A021400 Y
070 B011400 N
070 B021400 N
070 C011400 N
070 C021400 N
070 D011400 N
070 D021400 N
070 E011400 N
070 E021400 N
070 F011400 N
070 F021400 N
070 G011400 N
070 G021400 N
070 H011400 N
070 H021400 N
070 I011400 N
<PAGE>      PAGE  92
070 I021400 N
070 J011400 Y
070 J021400 N
070 K011400 Y
070 K021400 N
070 L011400 N
070 L021400 N
070 M011400 N
070 M021400 N
070 N011400 Y
070 N021400 Y
070 O011400 Y
070 O021400 Y
070 P011400 Y
070 P021400 N
070 Q011400 N
070 Q021400 N
070 R011400 Y
070 R021400 Y
071 A001400      8954
071 B001400     56536
071 C001400     81370
071 D001400   11
072 A001400 12
072 B001400       21
072 C001400      455
072 D001400        0
072 E001400       23
072 F001400      766
072 G001400       38
072 H001400        0
072 I001400      278
072 J001400      -18
072 K001400        0
072 L001400        0
072 M001400        2
072 N001400       31
072 O001400        0
072 P001400      368
072 Q001400       36
072 R001400        3
072 S001400        3
072 T001400      192
072 U001400        4
072 V001400        0
072 W001400       22
072 X001400     1725
072 Y001400      575
072 Z001400     -651
072AA001400     7561
072BB001400    35202
<PAGE>      PAGE  93
072CC011400        0
072CC021400    29348
072DD011400        0
072DD021400        0
072EE001400        0
073 A011400   0.0000
073 A021400   0.0000
073 B001400   0.0000
073 C001400   0.0000
074 A001400        1
074 B001400      171
074 C001400        0
074 D001400        0
074 E001400        0
074 F001400    56363
074 G001400        0
074 H001400        0
074 I001400        0
074 J001400        2
074 K001400       70
074 L001400        2
074 M001400       63
074 N001400    56672
074 O001400        0
074 P001400        0
074 Q001400        0
074 R011400        0
074 R021400        0
074 R031400        0
074 R041400     9200
074 S001400        0
074 T001400    47472
074 U011400     6812
074 U021400        0
074 V011400     0.00
074 V021400     0.00
074 W001400   0.0000
074 X001400     6584
074 Y001400        0
075 A001400        0
075 B001400    76647
076  001400     0.00
015 A001501 THE CHASE MANHATTAN BANK
015 B001501 C
015 C011501 NEW YORK
015 C021501 NY
015 C031501 10003
015 E011501 X
024  001500 N
028 A011500        63
028 A021500         0
<PAGE>      PAGE  94
028 A031500         0
028 A041500         5
028 B011500        65
028 B021500         0
028 B031500         0
028 B041500         0
028 C011500        15
028 C021500         0
028 C031500         0
028 C041500         0
028 D011500        98
028 D021500         0
028 D031500         0
028 D041500        65
028 E011500        47
028 E021500         0
028 E031500         0
028 E041500         7
028 F011500        21
028 F021500         0
028 F031500         0
028 F041500         0
028 G011500       309
028 G021500         0
028 G031500         0
028 G041500        77
028 H001500         3
029  001500 Y
030 A001500      0
030 B001500  4.75
030 C001500  0.00
031 A001500      0
031 B001500      0
032  001500      0
033  001500      0
034  001500 Y
035  001500      0
036 A001500 N
036 B001500      0
037  001500 N
038  001500      0
039  001500 N
040  001500 Y
041  001500 Y
042 A001500   0
042 B001500   0
042 C001500 100
042 D001500   0
042 E001500   0
042 F001500   0
042 G001500   0
<PAGE>      PAGE  95
042 H001500   0
043  001500      8
044  001500      0
055 A001500 N
055 B001500 N
056  001500 Y
057  001500 N
062 A001500 N
062 B001500   0.0
062 C001500   0.0
062 D001500   0.0
062 E001500   0.0
062 F001500   0.0
062 G001500   0.0
062 H001500   0.0
062 I001500   0.0
062 J001500   0.0
062 K001500   0.0
062 L001500   0.0
062 M001500   0.0
062 N001500   0.0
062 O001500   0.0
062 P001500   0.0
062 Q001500   0.0
062 R001500   0.0
063 A001500   0
063 B001500  0.0
066 A001500 Y
066 C001500 Y
067  001500 N
068 A001500 N
068 B001500 N
069  001500 N
070 A011500 Y
070 A021500 Y
070 B011500 N
070 B021500 N
070 C011500 N
070 C021500 N
070 D011500 N
070 D021500 N
070 E011500 N
070 E021500 N
070 F011500 N
070 F021500 N
070 G011500 N
070 G021500 N
070 H011500 N
070 H021500 N
070 I011500 N
070 I021500 N
<PAGE>      PAGE  96
070 J011500 Y
070 J021500 N
070 K011500 Y
070 K021500 N
070 L011500 N
070 L021500 N
070 M011500 N
070 M021500 N
070 N011500 Y
070 N021500 N
070 O011500 N
070 O021500 N
070 P011500 Y
070 P021500 N
070 Q011500 N
070 Q021500 N
070 R011500 N
070 R021500 N
071 A001500      5847
071 B001500      2981
071 C001500      2852
071 D001500  104
072 A001500 11
072 B001500       20
072 C001500       26
072 D001500        0
072 E001500        0
072 F001500       26
072 G001500        2
072 H001500        0
072 I001500        8
072 J001500        5
072 K001500        0
072 L001500        2
072 M001500        5
072 N001500       67
072 O001500        0
072 P001500        0
072 Q001500       25
072 R001500       15
072 S001500        3
072 T001500        8
072 U001500        0
072 V001500        0
072 W001500        0
072 X001500      166
072 Y001500      114
072 Z001500       -5
072AA001500      525
072BB001500      532
072CC011500      113
<PAGE>      PAGE  97
072CC021500        0
072DD011500        0
072DD021500        0
072EE001500        0
073 A011500   0.0000
073 A021500   0.0000
073 B001500   0.0000
073 C001500   0.0000
074 A001500       35
074 B001500      536
074 C001500        0
074 D001500        0
074 E001500        0
074 F001500     2973
074 G001500        0
074 H001500        0
074 I001500        0
074 J001500        5
074 K001500       23
074 L001500        4
074 M001500        0
074 N001500     3576
074 O001500       50
074 P001500        0
074 Q001500        0
074 R011500        0
074 R021500        0
074 R031500        0
074 R041500       29
074 S001500        0
074 T001500     3497
074 U011500      316
074 U021500       21
074 V011500     0.00
074 V021500     0.00
074 W001500   0.0000
074 X001500       54
074 Y001500        0
075 A001500        0
075 B001500     2852
076  001500     0.00
015 A001601 THE CHASE MANHATTAN BANK
015 B001601 C
015 C011601 NEW YORK
015 C021601 NY
015 C031601 10004
015 E011601 X
SIGNATURE   GAIL KNUDSEN
TITLE       ASSISTANT CONTROLLER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Liberty Funds Trust III
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<EXPENSE-RATIO>  1.32
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>             Liberty Funds Trust III
<SERIES>
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>              Liberty Funds Trust 3
<SERIES>
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Liberty Funds Trust 3
<SERIES>
   <NUMBER>                1
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<S>                             <C>
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<OVERDISTRIB-NII-PRIOR> (39)
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<EXPENSE-RATIO>  1.00
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Colonial Trust III
<SERIES>
   <NUMBER>                    2
   <NAME>                               CIHFA
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<ACCUMULATED-NII-CURRENT> 0
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<ACCUMULATED-NET-GAINS> (3489)
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<ACCUM-APPREC-OR-DEPREC> 23790
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<EXPENSES-NET> 2298
<NET-INVESTMENT-INCOME> (172)
<REALIZED-GAINS-CURRENT> (6600)
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<DISTRIBUTIONS-OF-GAINS> (4278)
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<NUMBER-OF-SHARES-REDEEMED> (178536)
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<NET-CHANGE-IN-ASSETS> (11716)
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<ACCUMULATED-GAINS-PRIOR> (8936)
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<PER-SHARE-NII> 0.027
<PER-SHARE-GAIN-APPREC> 2.041
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.948)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 13.380
<EXPENSE-RATIO>  1.640
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Colonial Trust III
<SERIES>
   <NUMBER>                     2
   <NAME>                               CIHFB
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
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<INVESTMENTS-AT-COST> 85751
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<OTHER-ITEMS-LIABILITIES> 2884
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<PAID-IN-CAPITAL-COMMON> 96536
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<ACCUMULATED-NII-CURRENT> 0
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<DIVIDEND-INCOME> 1902
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<NET-INVESTMENT-INCOME> (172)
<REALIZED-GAINS-CURRENT> (6600)
<APPREC-INCREASE-CURRENT> 26281
<NET-CHANGE-FROM-OPS> 19509
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (4151)
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<NUMBER-OF-SHARES-SOLD> 15544
<NUMBER-OF-SHARES-REDEEMED> (29662)
<SHARES-REINVESTED> 3730
<NET-CHANGE-IN-ASSETS> (11716)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (8936)
<OVERDISTRIB-NII-PRIOR> (180)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 438
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2298
<AVERAGE-NET-ASSETS> 114836
<PER-SHARE-NAV-BEGIN> 12.140
<PER-SHARE-NII> (0.067)
<PER-SHARE-GAIN-APPREC> 2.015
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.898)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 13.190
<EXPENSE-RATIO>  2.390
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Colonial Trust III
<SERIES>
   <NUMBER>                   2
   <NAME>                               CIHFC
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
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<PERIOD-START>                                  NOV-01-1998
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<INVESTMENTS-AT-COST> 85751
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<NUMBER-OF-SHARES-REDEEMED> (654)
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<NET-CHANGE-IN-ASSETS> (11716)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (8936)
<OVERDISTRIB-NII-PRIOR> (180)
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<GROSS-ADVISORY-FEES> 438
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2298
<AVERAGE-NET-ASSETS> 114836
<PER-SHARE-NAV-BEGIN> 12.240
<PER-SHARE-NII> (0.068)
<PER-SHARE-GAIN-APPREC> 2.036
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.908)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 13.300
<EXPENSE-RATIO>  2.390
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Colonial Trust III
<SERIES>
   <NUMBER>                   2
   <NAME>                               CIHFZ
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-01-1998
<PERIOD-END>                                      OCT-31-1999
<INVESTMENTS-AT-COST> 85751
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<APPREC-INCREASE-CURRENT> 26281
<NET-CHANGE-FROM-OPS> 19509
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<NUMBER-OF-SHARES-SOLD> 5585
<NUMBER-OF-SHARES-REDEEMED> (560)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (11716)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (8936)
<OVERDISTRIB-NII-PRIOR> (180)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 438
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2298
<AVERAGE-NET-ASSETS> 114836
<PER-SHARE-NAV-BEGIN> 11.950
<PER-SHARE-NII> 0.047
<PER-SHARE-GAIN-APPREC> 1.403
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<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 13.400
<EXPENSE-RATIO>  1.480
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>             0000021847
<NAME>               Liberty Funds Trust III
<SERIES>
   <NUMBER>               3
   <NAME>                                  CGEFA
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                       12-MOS
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<PERIOD-START>                                  NOV-1-1998
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<INVESTMENTS-AT-COST>      114485
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<NUMBER-OF-SHARES-REDEEMED> (9803)
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<ACCUMULATED-NII-PRIOR>    0
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<GROSS-ADVISORY-FEES>      1281
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<GROSS-EXPENSE>            2855
<AVERAGE-NET-ASSETS>       134657
<PER-SHARE-NAV-BEGIN>      14.16
<PER-SHARE-NII>            (.007)
<PER-SHARE-GAIN-APPREC>    1.670
<PER-SHARE-DIVIDEND>  0
<PER-SHARE-DISTRIBUTIONS> (.793)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END>        15.03
<EXPENSE-RATIO>            1.65
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>             0000021847
<NAME>               Liberty Funds Trust III
<SERIES>
   <NUMBER>               3
   <NAME>                                  CGEFAB
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                       12-MOS
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<INVESTMENTS-AT-COST>      114485
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<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END>           14.82
<EXPENSE-RATIO>               2.40
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>             0000021847
<NAME>               Liberty Funds Trust III
<SERIES>
   <NUMBER>               3
   <NAME>                                  CGEFC
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                       12-MOS
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<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END>         14.91
<EXPENSE-RATIO>               2.40
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE>                                            6
<CIK>              0000021847
<NAME>            Liberty Funds Trust III
<SERIES>
   <NUMBER>     6
   <NAME>     CSBFA
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
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<EXPENSE-RATIO>  1.55
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                       0000021847
<NAME>             Liberty Funds Trust III
<SERIES>
   <NUMBER>                   6
   <NAME>        CSBFB
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
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<INVESTMENTS-AT-COST> 164662
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                       0000021847
<NAME>            Liberty Funds Trust III
<SERIES>
   <NUMBER>       6
   <NAME>                 CSBFC
<MULTIPLIER>                                   1,000

<S>                             <C>
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Colonial Trust III
<SERIES>
   <NUMBER>                       8
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<S>                             <C>
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<EXPENSE-RATIO>  1.330
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Colonial Trust III
<SERIES>
   <NUMBER>                     8
   <NAME>                               CGUFB
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<S>                             <C>
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<EXPENSE-RATIO>  2.080
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Colonial Trust III
<SERIES>
   <NUMBER>                      8
   <NAME>                               CGUFC
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<EXPENSE-RATIO>  2.080
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>    0000021847
<NAME>  Liberty Funds Trust III
<SERIES>
   <NUMBER>15
   <NAME> CHCFA
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<S>                             <C>
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>    0000021847
<NAME>  Liberty Funds Trust III
<SERIES>
   <NUMBER>15
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[AVG-DEBT-OUTSTANDING] 0
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>    0000021847
<NAME>  Liberty Funds Trust III
<SERIES>
   <NUMBER>15
   <NAME> CHCFC
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[AVG-DEBT-OUTSTANDING] 0
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6

<CIK>            0000021847
<NAME>       Liberty Funds Trust III
<SERIES>
   <NUMBER>        14
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<S>                             <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


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<CIK>                         0000021847
<NAME>               Liberty Funds Trust III
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<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 570
<INTEREST-EXPENSE>31
<GROSS-EXPENSE> 864
<AVERAGE-NET-ASSETS> 57272
<PER-SHARE-NAV-BEGIN> 8.650
<PER-SHARE-NII> (0.078)
<PER-SHARE-GAIN-APPREC> (0.391)
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.051)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 8.130
<EXPENSE-RATIO>  1.500
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0


</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Liberty Funds Trust III
<SERIES>
   <NUMBER>                     4
   <NAME>                             CHSCFI
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            Oct-31-1999
<PERIOD-START>                                  Nov-01-1998
<PERIOD-END>                                      Oct-31-1999
<INVESTMENTS-AT-COST> 54403
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<OTHER-ITEMS-LIABILITIES> 4091
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<PAID-IN-CAPITAL-COMMON>59892
<SHARES-COMMON-STOCK> 2987
<SHARES-COMMON-PRIOR> 7207
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<OVERDISTRIBUTION-GAINS> (23040)
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<DIVIDEND-INCOME> 244
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<NET-INVESTMENT-INCOME> (275)
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<EQUALIZATION> 0
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<NUMBER-OF-SHARES-SOLD> 1632
<NUMBER-OF-SHARES-REDEEMED> 5887
<SHARES-REINVESTED> 34
<NET-CHANGE-IN-ASSETS> (45625)
<ACCUMULATED-NII-PRIOR> 273
<ACCUMULATED-GAINS-PRIOR> 11175
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 570
<INTEREST-EXPENSE>31
<GROSS-EXPENSE> 864
<AVERAGE-NET-ASSETS> 57272
<PER-SHARE-NAV-BEGIN> 8.680
<PER-SHARE-NII> (0.035)
<PER-SHARE-GAIN-APPREC> (0.394)
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<PER-SHARE-DISTRIBUTIONS> (0.051)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 8.200
<EXPENSE-RATIO>  1.000
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0


</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>             Liberty Funds Trust III
<SERIES>
   <NUMBER>                     11
   <NAME>                               CH REAL ESTATE INVESTMENT FUND CLASS A
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-01-1999
<PERIOD-END>                                      OCT-31-1999
<INVESTMENTS-AT-COST> 10586
<INVESTMENTS-AT-VALUE> 9476
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<SHARES-COMMON-PRIOR> 1670
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<NET-ASSETS> 9506
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<NET-INVESTMENT-INCOME> 764
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<NET-CHANGE-IN-ASSETS> (7917)
<ACCUMULATED-NII-PRIOR> 99
<ACCUMULATED-GAINS-PRIOR> 250
<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> 137
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 318
<AVERAGE-NET-ASSETS> 13669
<PER-SHARE-NAV-BEGIN> 10.44
<PER-SHARE-NII> .581
<PER-SHARE-GAIN-APPREC> (.939)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.357)
<RETURNS-OF-CAPITAL> (.175)
<PER-SHARE-NAV-END> 9.55
<EXPENSE-RATIO>  1.50
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>              Liberty Funds Trust III
<SERIES>
   <NUMBER>                     11
   <NAME>                               CH REAL ESTATE INVESTMENT FUND CLASS B
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-01-1999
<PERIOD-END>                                      OCT-31-1999
<INVESTMENTS-AT-COST> 10586
<INVESTMENTS-AT-VALUE> 9476
<RECEIVABLES> 360
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<ACCUMULATED-NII-CURRENT> 365
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<NET-ASSETS> 9506
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<NET-INVESTMENT-INCOME> 764
<REALIZED-GAINS-CURRENT> (234)
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (10)
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<NUMBER-OF-SHARES-SOLD> 1025
<NUMBER-OF-SHARES-REDEEMED> (213)
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<NET-CHANGE-IN-ASSETS> (7917)
<ACCUMULATED-NII-PRIOR> 99
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<OVERDISTRIB-NII-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 318
<AVERAGE-NET-ASSETS> 13669
<PER-SHARE-NAV-BEGIN> 10.58
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<PER-SHARE-GAIN-APPREC> (1.269)
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.55
<EXPENSE-RATIO>  2.25
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>           Liberty Funds TrustIII
<SERIES>
   <NUMBER>                     11
   <NAME>                               CH REAL ESTATE INVESTMENT FUND CLASS C
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-01-1999
<PERIOD-END>                                      OCT-31-1999
<INVESTMENTS-AT-COST> 10586
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<NET-CHANGE-IN-ASSETS> (7917)
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<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> 137
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 318
<AVERAGE-NET-ASSETS> 13669
<PER-SHARE-NAV-BEGIN> 10.58
<PER-SHARE-NII> .425
<PER-SHARE-GAIN-APPREC> (1.280)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.185)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.54
<EXPENSE-RATIO>  2.25
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Liberty Funds Trust III
<SERIES>
   <NUMBER>                     11
   <NAME>                               CH REAL ESTATE INVESTMENT FUND CLASS Z
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-01-1999
<PERIOD-END>                                      OCT-31-1999
<INVESTMENTS-AT-COST> 10586
<INVESTMENTS-AT-VALUE> 9476
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<ASSETS-OTHER> 0
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<NET-INVESTMENT-INCOME> 764
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<NET-CHANGE-IN-ASSETS> (7917)
<ACCUMULATED-NII-PRIOR> 99
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 318
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<PER-SHARE-NAV-BEGIN> 10.44
<PER-SHARE-NII> .495
<PER-SHARE-GAIN-APPREC> (1.129)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.246)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.56
<EXPENSE-RATIO>  1.25
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>              Liberty Funds Trust III
<SERIES>
   <NUMBER>                 10
   <NAME>                    CHEFA
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-01-1998
<PERIOD-END>                                      OCT-31-1999
<INVESTMENTS-AT-COST> 106813
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<PAID-IN-CAPITAL-COMMON> 107960
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<ACCUMULATED-NII-CURRENT> 0
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<NET-ASSETS> 117090
<DIVIDEND-INCOME> 2237
<INTEREST-INCOME> 468
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<NET-INVESTMENT-INCOME> 413
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<APPREC-INCREASE-CURRENT> (3203)
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1255)
<DISTRIBUTIONS-OF-GAINS> (7391)
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<NUMBER-OF-SHARES-SOLD> 75427
<NUMBER-OF-SHARES-REDEEMED> (211487)
<SHARES-REINVESTED> 8116
<NET-CHANGE-IN-ASSETS> (141182)
<ACCUMULATED-NII-PRIOR> 1172
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<GROSS-ADVISORY-FEES> 1621
<INTEREST-EXPENSE> 27
<GROSS-EXPENSE> 1188
<AVERAGE-NET-ASSETS> 187641
<PER-SHARE-NAV-BEGIN> 16.600
<PER-SHARE-NII> 0.031
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<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.099)
<RETURNS-OF-CAPITAL>    ( 0.581)
<PER-SHARE-NAV-END> 16.780
<EXPENSE-RATIO>  1.420
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Liberty Funds Trust III
<SERIES>
   <NUMBER>                     10
   <NAME>                       CHEFB
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-01-1998
<PERIOD-END>                                      OCT-31-1999
<INVESTMENTS-AT-COST> 106813
<INVESTMENTS-AT-VALUE> 116264
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<NET-CHANGE-IN-ASSETS> (141182)
<ACCUMULATED-NII-PRIOR> 1172
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<INTEREST-EXPENSE> 27
<GROSS-EXPENSE> 1188
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<PER-SHARE-NAV-BEGIN> 16.440
<PER-SHARE-NII> (0.076)
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<RETURNS-OF-CAPITAL>    ( 0.000)
<PER-SHARE-NAV-END> 16.660
<EXPENSE-RATIO>  2.170
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Liberty Funds Trust III
<SERIES>
   <NUMBER>                   10
   <NAME>                       CHEFC
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-01-1998
<PERIOD-END>                                      OCT-31-1999
<INVESTMENTS-AT-COST> 106813
<INVESTMENTS-AT-VALUE> 116264
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<ACCUM-APPREC-OR-DEPREC> 9449
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<NET-CHANGE-IN-ASSETS> (141182)
<ACCUMULATED-NII-PRIOR> 1172
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<GROSS-EXPENSE> 1188
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<PER-SHARE-NAV-BEGIN> 16.440
<PER-SHARE-NII> (0.076)
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<RETURNS-OF-CAPITAL>    ( 0.000)
<PER-SHARE-NAV-END> 16.670
<EXPENSE-RATIO>  2.170
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>              Liberty Funds Trust III
<SERIES>
   <NUMBER>                     10
   <NAME>                       CHEFI
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
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<INVESTMENTS-AT-COST> 106813
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<RECEIVABLES> 1223
<ASSETS-OTHER> 2339
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 119826
<PAYABLE-FOR-SECURITIES> 2327
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 409
<TOTAL-LIABILITIES> 2736
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 107960
<SHARES-COMMON-STOCK> 843
<SHARES-COMMON-PRIOR> 1662
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (3)
<ACCUMULATED-NET-GAINS> (315531)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9449
<NET-ASSETS> 117090
<DIVIDEND-INCOME> 2237
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<NET-INVESTMENT-INCOME> 413
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<APPREC-INCREASE-CURRENT> (3203)
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<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> 920
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<NUMBER-OF-SHARES-SOLD> 2582
<NUMBER-OF-SHARES-REDEEMED> (17422)
<SHARES-REINVESTED> 1074
<NET-CHANGE-IN-ASSETS> (141182)
<ACCUMULATED-NII-PRIOR> 1172
<ACCUMULATED-GAINS-PRIOR> 3666
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1621
<INTEREST-EXPENSE> 27
<GROSS-EXPENSE> 1188
<AVERAGE-NET-ASSETS> 187641
<PER-SHARE-NAV-BEGIN> 16.650
<PER-SHARE-NII> 0.015
<PER-SHARE-GAIN-APPREC> 0.818
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.182)
<RETURNS-OF-CAPITAL>    ( 0.581)
<PER-SHARE-NAV-END> 16.82
<EXPENSE-RATIO>  0.930
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>              Liberty Funds Trust III
<SERIES>
   <NUMBER>                      9
   <NAME>                               CHMIEFA
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-01-1998
<PERIOD-END>                                      OCT-01-1999
<INVESTMENTS-AT-COST> 55820
<INVESTMENTS-AT-VALUE> 58278
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<PAID-IN-CAPITAL-COMMON> 53350
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<SHARES-COMMON-PRIOR> 5284
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<REALIZED-GAINS-CURRENT> 5979
<APPREC-INCREASE-CURRENT> (3118)
<NET-CHANGE-FROM-OPS> 4601
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1024
<DISTRIBUTIONS-OF-GAINS> 1378
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<NUMBER-OF-SHARES-SOLD> 2052
<NUMBER-OF-SHARES-REDEEMED> 34680
<SHARES-REINVESTED> 2232
<NET-CHANGE-IN-ASSETS> (43136)
<ACCUMULATED-NII-PRIOR> 316
<ACCUMULATED-GAINS-PRIOR> 1500
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 775
<INTEREST-EXPENSE> 5
<GROSS-EXPENSE> 1241
<AVERAGE-NET-ASSETS> 82564
<PER-SHARE-NAV-BEGIN> 12.81
<PER-SHARE-NII> 0.275
<PER-SHARE-GAIN-APPREC> 0.262
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.281)
<RETURNS-OF-CAPITAL> (0.276)
<PER-SHARE-NAV-END> 12.79
<EXPENSE-RATIO>  1.420
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>              Liberty Funds Trust III
<SERIES>
   <NUMBER>                   9
   <NAME>                               CHMIEFB
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-01-1998
<PERIOD-END>                                      OCT-31-1999
<INVESTMENTS-AT-COST> 55820
<INVESTMENTS-AT-VALUE> 58278
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<REALIZED-GAINS-CURRENT> 5979
<APPREC-INCREASE-CURRENT> (3118)
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<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (43136)
<ACCUMULATED-NII-PRIOR> 316
<ACCUMULATED-GAINS-PRIOR> 1500
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 775
<INTEREST-EXPENSE> 5
<GROSS-EXPENSE> 1241
<AVERAGE-NET-ASSETS> 82564
<PER-SHARE-NAV-BEGIN> 12.76
<PER-SHARE-NII> .143
<PER-SHARE-GAIN-APPREC> 0.016
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.149)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 12.77
<EXPENSE-RATIO>  2.17
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Liberty Funds Trust III
<SERIES>
   <NUMBER>                  9
   <NAME>                               CHMIEFC
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-01-1998
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<INVESTMENTS-AT-COST> 55820
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<APPREC-INCREASE-CURRENT> (3118)
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<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (43136)
<ACCUMULATED-NII-PRIOR> 316
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 5
<GROSS-EXPENSE> 1241
<AVERAGE-NET-ASSETS> 82564
<PER-SHARE-NAV-BEGIN> 12.76
<PER-SHARE-NII> .143
<PER-SHARE-GAIN-APPREC> .016
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.149)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 12.77
<EXPENSE-RATIO>  2.17
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>              Liberty Funds Trust III
<SERIES>
   <NUMBER>                      9
   <NAME>                               CHMIEFI
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-01-1998
<PERIOD-END>                                      OCT-31-1999
<INVESTMENTS-AT-COST> 55820
<INVESTMENTS-AT-VALUE> 58278
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<NET-CHANGE-IN-ASSETS> (43136)
<ACCUMULATED-NII-PRIOR> 316
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<INTEREST-EXPENSE> 5
<GROSS-EXPENSE> 1241
<AVERAGE-NET-ASSETS> 82564
<PER-SHARE-NAV-BEGIN> 12.81
<PER-SHARE-NII> .334
<PER-SHARE-GAIN-APPREC> .269
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.367)
<RETURNS-OF-CAPITAL> (.276)
<PER-SHARE-NAV-END> 12.77
<EXPENSE-RATIO>  .96
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>    0000021847
<NAME>               Liberty Funds Trust III
<SERIES>
   <NUMBER>                    5
   <NAME>                       The Colonial Fund Class A
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            Oct-31-1999
<PERIOD-START>                                  Nov-01-1998
<PERIOD-END>                                      Oct-31-1999
<INVESTMENTS-AT-COST> 1403031
<INVESTMENTS-AT-VALUE> 1713247
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<NUMBER-OF-SHARES-SOLD> 5951
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<SHARES-REINVESTED> 5196
<NET-CHANGE-IN-ASSETS> 33,923
<ACCUMULATED-NII-PRIOR> 369
<ACCUMULATED-GAINS-PRIOR>74893
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<GROSS-EXPENSE> 24377
<AVERAGE-NET-ASSETS> 1696316
<PER-SHARE-NAV-BEGIN> 10.38
<PER-SHARE-NII> 0.214
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<PER-SHARE-DIVIDEND> (0.230)
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<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.81
<EXPENSE-RATIO>  1.12
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>    0000021847
<NAME>               Liberty Funds Trust III
<SERIES>
   <NUMBER>                    5
   <NAME>               Th Colonial Fund Class B
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            Oct-31-1999
<PERIOD-START>                                  Nov-01-1998
<PERIOD-END>                                      Oct-31-1999
<INVESTMENTS-AT-COST> 1403031
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<DISTRIBUTIONS-OF-INCOME>(9809)
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<ACCUMULATED-GAINS-PRIOR>74893
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<PER-SHARE-NAV-BEGIN> 10.36
<PER-SHARE-NII> 0.134
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<PER-SHARE-DIVIDEND> (0.149)
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<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.79
<EXPENSE-RATIO>  1.88
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>    0000021847
<NAME>               Liberty Funds Trust III
<SERIES>
   <NUMBER>                   5
   <NAME>      The Colonial Fund Class C
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            Oct-31-1999
<PERIOD-START>                                  Nov-01-1998
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<INVESTMENTS-AT-COST> 1403031
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<GROSS-EXPENSE> 24377
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<PER-SHARE-NAV-BEGIN> 10.35
<PER-SHARE-NII> 0.135
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<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.78
<EXPENSE-RATIO>  1.88
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>    0000021847
<NAME>               Liberty  Funds Trust III
<SERIES>
   <NUMBER>                  5
   <NAME>                    The Colonial Fund Class Z
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            Oct-31-1999
<PERIOD-START>                                  Nov-01-1998
<PERIOD-END>                                      Oct-31-1999
<INVESTMENTS-AT-COST> 1403031
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<NET-CHANGE-IN-ASSETS> 33923
<ACCUMULATED-NII-PRIOR> 369
<ACCUMULATED-GAINS-PRIOR>74893
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR>0
<GROSS-ADVISORY-FEES> 8985
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 24377
<AVERAGE-NET-ASSETS> 1696316
<PER-SHARE-NAV-BEGIN> 10.39
<PER-SHARE-NII> 0.240
<PER-SHARE-GAIN-APPREC> 1.343
<PER-SHARE-DIVIDEND> (0.255)
<PER-SHARE-DISTRIBUTIONS> (0.438)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.28
<EXPENSE-RATIO> 0.88
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Liberty Funds Trust III
<SERIES>
   <NUMBER>                    12
   <NAME>                               Crabbe Huson Oregon Tax Free Class A
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-1-1998
<PERIOD-END>                                      OCT-31-1999
<INVESTMENTS-AT-COST> 21221
<INVESTMENTS-AT-VALUE> 20377
<RECEIVABLES> 336
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 20713
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 93
<TOTAL-LIABILITIES> 93
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 21135
<SHARES-COMMON-STOCK> 1770
<SHARES-COMMON-PRIOR> 1964
<ACCUMULATED-NII-CURRENT> 182
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 147
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (844)
<NET-ASSETS> 20621
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1208
<OTHER-INCOME> 0
<EXPENSES-NET> 233
<NET-INVESTMENT-INCOME> 976
<REALIZED-GAINS-CURRENT> 176
<APPREC-INCREASE-CURRENT> (2210)
<NET-CHANGE-FROM-OPS> (2026)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 978
<DISTRIBUTIONS-OF-GAINS> 620
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 565
<NUMBER-OF-SHARES-REDEEMED> (4182)
<SHARES-REINVESTED> 1239
<NET-CHANGE-IN-ASSETS> (2322)
<ACCUMULATED-NII-PRIOR> 183
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 607
<GROSS-ADVISORY-FEES> 118
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 307
<AVERAGE-NET-ASSETS> 23668
<PER-SHARE-NAV-BEGIN> 13.030
<PER-SHARE-NII> 0.524
<PER-SHARE-GAIN-APPREC>(1.103)
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.514)
<RETURNS-OF-CAPITAL> (0.317)
<PER-SHARE-NAV-END> 11.620
<EXPENSE-RATIO>  0.980
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Liberty Funds Trust III
<SERIES>
   <NUMBER>                  12
   <NAME>                               Crabbe Huson Oregon Tax Free Class B
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-1-1998
<PERIOD-END>                                      OCT-31-1999
<INVESTMENTS-AT-COST> 21221
<INVESTMENTS-AT-VALUE> 20377
<RECEIVABLES> 336
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 20713
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 93
<TOTAL-LIABILITIES> 93
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 21135
<SHARES-COMMON-STOCK> 5
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 182
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 147
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (844)
<NET-ASSETS> 20621
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1208
<OTHER-INCOME> 0
<EXPENSES-NET> 233
<NET-INVESTMENT-INCOME> 976
<REALIZED-GAINS-CURRENT> 176
<APPREC-INCREASE-CURRENT> (2210)
<NET-CHANGE-FROM-OPS> (2026)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 54
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> (2322)
<ACCUMULATED-NII-PRIOR> 183
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 607
<GROSS-ADVISORY-FEES> 118
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 307
<AVERAGE-NET-ASSETS> 23668
<PER-SHARE-NAV-BEGIN> 12.750
<PER-SHARE-NII> 0.326
<PER-SHARE-GAIN-APPREC>(1.147)
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.309)
<RETURNS-OF-CAPITAL> (0.000)
<PER-SHARE-NAV-END> 11.620
<EXPENSE-RATIO>  1.730
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Liberty Funds Trust III
<SERIES>
   <NUMBER>                    13
   <NAME>                              CHCIFA
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-1-1998
<PERIOD-END>                                      OCT-31-1999
<INVESTMENTS-AT-COST> 8347
<INVESTMENTS-AT-VALUE> 8234
<RECEIVABLES> 180
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8414
<PAYABLE-FOR-SECURITIES> 100
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 107
<TOTAL-LIABILITIES> 207
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8287
<SHARES-COMMON-STOCK> 380
<SHARES-COMMON-PRIOR> 809
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (9)
<ACCUMULATED-NET-GAINS> 43
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (113)
<NET-ASSETS> 8207
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 374
<OTHER-INCOME> 0
<EXPENSES-NET> 45
<NET-INVESTMENT-INCOME> 328
<REALIZED-GAINS-CURRENT> 92
<APPREC-INCREASE-CURRENT> (362)
<NET-CHANGE-FROM-OPS> (270)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 280
<DISTRIBUTIONS-OF-GAINS> 160
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 978
<NUMBER-OF-SHARES-REDEEMED> (5863)
<SHARES-REINVESTED> 324
<NET-CHANGE-IN-ASSETS> (257)
<ACCUMULATED-NII-PRIOR> 3
<ACCUMULATED-GAINS-PRIOR> 142
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 44
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 195
<AVERAGE-NET-ASSETS> 3843
<PER-SHARE-NAV-BEGIN> 10.880
<PER-SHARE-NII> 0.583
<PER-SHARE-GAIN-APPREC>  ( 0.583)
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS>     ( 0.620)
<RETURNS-OF-CAPITAL>     (0.195)
<PER-SHARE-NAV-END> 10.110
<EXPENSE-RATIO>  0.800
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Liberty Funds III
<SERIES>
   <NUMBER>                    13
   <NAME>                 CHCIFB

<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-1-1998
<PERIOD-END>                                      OCT-31-1999
<INVESTMENTS-AT-COST> 8347
<INVESTMENTS-AT-VALUE> 8234
<RECEIVABLES> 180
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8414
<PAYABLE-FOR-SECURITIES> 100
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 107
<TOTAL-LIABILITIES> 207
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8287
<SHARES-COMMON-STOCK> 2
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (9)
<ACCUMULATED-NET-GAINS> 43
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (113)
<NET-ASSETS> 8207
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 374
<OTHER-INCOME> 0
<EXPENSES-NET> 45
<NET-INVESTMENT-INCOME> 328
<REALIZED-GAINS-CURRENT> 92
<APPREC-INCREASE-CURRENT> (362)
<NET-CHANGE-FROM-OPS> (270)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 16
<NUMBER-OF-SHARES-REDEEMED> (0)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (257)
<ACCUMULATED-NII-PRIOR> 3
<ACCUMULATED-GAINS-PRIOR> 142
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 44
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 195
<AVERAGE-NET-ASSETS> 3843
<PER-SHARE-NAV-BEGIN> 10.170
<PER-SHARE-NII> 0.020
<PER-SHARE-GAIN-APPREC> 0.002
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS>     ( 0.062)
<RETURNS-OF-CAPITAL>(0.000)
<PER-SHARE-NAV-END> 10.130
<EXPENSE-RATIO>  1.550
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Liberty Funds Trust III
<SERIES>
   <NUMBER>                   13
   <NAME>                              CHCIFC
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-1-1998
<PERIOD-END>                                      OCT-31-1999
<INVESTMENTS-AT-COST> 8347
<INVESTMENTS-AT-VALUE> 8234
<RECEIVABLES> 180
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8414
<PAYABLE-FOR-SECURITIES> 100
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 107
<TOTAL-LIABILITIES> 207
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8287
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (9)
<ACCUMULATED-NET-GAINS> 43
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (113)
<NET-ASSETS> 8207
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 374
<OTHER-INCOME> 0
<EXPENSES-NET> 45
<NET-INVESTMENT-INCOME> 328
<REALIZED-GAINS-CURRENT> 92
<APPREC-INCREASE-CURRENT> (362)
<NET-CHANGE-FROM-OPS> (270)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1
<NUMBER-OF-SHARES-REDEEMED> (0)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (257)
<ACCUMULATED-NII-PRIOR> 3
<ACCUMULATED-GAINS-PRIOR> 142
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 44
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 195
<AVERAGE-NET-ASSETS> 3843
<PER-SHARE-NAV-BEGIN> 10.170
<PER-SHARE-NII> 0.013
<PER-SHARE-GAIN-APPREC> 0.037
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS>     ( 0.070)
<RETURNS-OF-CAPITAL>     (0.000)
<PER-SHARE-NAV-END> 10.150
<EXPENSE-RATIO>  1.550
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               TRUST 3
<SERIES>
   <NUMBER>                   13
   <NAME>                              CHCIFI
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-1-1998
<PERIOD-END>                                      OCT-31-1999
<INVESTMENTS-AT-COST> 8347
<INVESTMENTS-AT-VALUE> 8234
<RECEIVABLES> 180
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8414
<PAYABLE-FOR-SECURITIES> 100
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 107
<TOTAL-LIABILITIES> 207
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8287
<SHARES-COMMON-STOCK> 10
<SHARES-COMMON-PRIOR> 9
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (9)
<ACCUMULATED-NET-GAINS> 43
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (113)
<NET-ASSETS> 8207
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 374
<OTHER-INCOME> 0
<EXPENSES-NET> 45
<NET-INVESTMENT-INCOME> 328
<REALIZED-GAINS-CURRENT> 92
<APPREC-INCREASE-CURRENT> (362)
<NET-CHANGE-FROM-OPS> (270)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6
<DISTRIBUTIONS-OF-GAINS> 2
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> (0)
<SHARES-REINVESTED> 8
<NET-CHANGE-IN-ASSETS> (257)
<ACCUMULATED-NII-PRIOR> 3
<ACCUMULATED-GAINS-PRIOR> 142
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 44
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 195
<AVERAGE-NET-ASSETS> 3843
<PER-SHARE-NAV-BEGIN> 10.900
<PER-SHARE-NII> 0.607
<PER-SHARE-GAIN-APPREC>       ( 0.512)
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS>      ( 0.700)
<RETURNS-OF-CAPITAL>     (0.195)
<PER-SHARE-NAV-END> 10.100
<EXPENSE-RATIO>  0.380
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000021847
<NAME>               Liberty Funds III
<SERIES>
   <NUMBER>                      13
   <NAME>                               CHCIFZ
<MULTIPLIER>                                   1,000

<S>                             <C>
<PERIOD-TYPE>                           12-MOS
<FISCAL-YEAR-END>                            OCT-31-1999
<PERIOD-START>                                  NOV-1-1998
<PERIOD-END>                                      OCT-31-1999
<INVESTMENTS-AT-COST> 8347
<INVESTMENTS-AT-VALUE> 8234
<RECEIVABLES> 180
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8414
<PAYABLE-FOR-SECURITIES> 100
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 107
<TOTAL-LIABILITIES> 207
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8287
<SHARES-COMMON-STOCK> 420
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (9)
<ACCUMULATED-NET-GAINS> 43
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (113)
<NET-ASSETS> 8207
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 374
<OTHER-INCOME> 0
<EXPENSES-NET> 45
<NET-INVESTMENT-INCOME> 328
<REALIZED-GAINS-CURRENT> 92
<APPREC-INCREASE-CURRENT> (362)
<NET-CHANGE-FROM-OPS> (270)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 44
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4231
<NUMBER-OF-SHARES-REDEEMED> (0)
<SHARES-REINVESTED> 46
<NET-CHANGE-IN-ASSETS> (257)
<ACCUMULATED-NII-PRIOR> 3
<ACCUMULATED-GAINS-PRIOR> 142
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 44
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 195
<AVERAGE-NET-ASSETS> 3843
<PER-SHARE-NAV-BEGIN> 10.170
<PER-SHARE-NII> 0.007
<PER-SHARE-GAIN-APPREC> 0.046
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS>  ( 0.113)
<RETURNS-OF-CAPITAL>(0.000)
<PER-SHARE-NAV-END> 10.110
<EXPENSE-RATIO>  0.380
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0



</TABLE>



     Matters submitted to a vote of security holders

 (a)On October 13, 1999, a Special Meeting of Shareholders (Meeting) of the
    Colonial Select Value Fund (the Fund) was held to approve an Amended and
    Restated Management Agreement providing for an increase in the management
    fee paid by the Fund, all as described in the Proxy  Statement.

 (b)Not applicable

 (c)The  required  number of proxies  to  approve an Amended and Restated
    Management  Agreement  providing for an increase in the  management fee
    paid by the Fund had not been obtained by the date of the Meeting, therefore
    the meeting was adjourned to November 3, 1999 and the results were as
    follows:

    For:                        10,844,392
    Against:                     5,403,039
    Abstain:                     1,411,678

    Because the Fund did not receive the required number of votes and in the
    best interest of the Fund not to incur additional costs associated with an
    additional solicitations of shareholders votes to obtain the necessary
    shareholder approval to amend the Fund's management fee from 0.70% to 0.75%,
    the adjourned meeting was adjourned.

 (d) Not applicable

 (Proxy Statement incorporated herein by reference to Accession
 number 0000021847-99-000112)



77I      Terms of new or amended securities.

CRABBE HUSON CONTRARIAN INCOME FUND

   (a) Not applicable

   (b) Effective  September 15, 1999,  Class B, Class C and Class Z shares
       were added to Crabbe Huson  Contrarian  Income Fund with the  following
       features:

Class B Shares

Initial Sales Charge                               None



Contingent Deferred Sales Charge      5.00% on redemptions made within one year
                                      4.00% through second year
                                      3.00% through third fourth year
                                      2.00% through fifth year
                                      1.00% through sixth year
                                      0.00% longer than six years



Commission to Selling Broker                       4.00%


12b-1 Service Fee                                  0.25%

12b-1 Distribution Fee                             0.75%



Class C Shares


Initial Sales Charge                               None



Contingent Deferred Sales Charge       1.00% on redemptions made within one year


Commission to Selling Broker                       1.00%



12b-1 Service Fee                                  0.25%



12b-1                                              Distribution  Fee Contractual
                                                   fee   is   0.75%;    however,
                                                   Liberty  Funds   Distributor,
                                                   Inc. (Distributor) has agreed
                                                   to  waive  0.15%  of the Rule
                                                   12b-1   distribution  fee  so
                                                   that it will not exceed 0.60%
                                                   annually.  This waiver may be
                                                   terminated at any time by the
                                                   Distributor           without
                                                   shareholder approval.


         Class Z shares are  offered at net asset value without any initial or
         contingent deferred sales charges or 12b-1 fees.



Change in Independent Accountants

Based  on the  recommendation  of the  Audit  Committee  of  The  Colonial Fund
(the "Fund") on June 18,  1999, the Board of Trustees determined  not to retain
PricewaterhouseCoopers  LLP ("PwC") as the independent accountants of the Funds,
and voted to  appoint  Ernst & Young LLP for the fiscal year ended  October 31,
1999. During the two most recent fiscal years,  PwC's audit reports contained no
adverse  opinion or  disclaimer  of opinion;  nor were its reports  qualified or
modified as to uncertainty,  audit scope, or accounting  principle.  Further, in
connection  with its audits for the two most  recent  fiscal  years and  through
June 18, 1999, there were no  disagreements  between the Funds and PwC on any
matter of accounting principles or practices,  financial statement disclosure or
auditing scope or procedure,  which if not resolved to the  satisfaction  of PwC
would have caused it to make reference to the disagreements in its report on the
financial statements for such years.


December 22, 1999

Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549

Commissioners:

We have read the statements by Liberty Funds Trust III (copy attached), which
we understand will be filed with the Commission, pursuant to Item 77K of
Form N-SAR as part of the Trust's Form N-SAR report dated  December 30, 1999.
We agree with
the statements concerning our firm in such Form N-SAR.

Very truly yours,



PricewaterhouseCoopers LLP

Based  on the  recommendation  of  the  Audit  Committee  of  the  Crabbe
Huson Contrarian Fund,  Crabbe Huson Contrarian Income Fund,
Crabbe Huson Equity Fund, Crabbe Huson Managed  Income & Equity Fund,
Crabbe Huson Oregon  Tax-Free Fund, Crabbe Huson Real Estate Investment Fund,
Crabbe Huson Small Cap Fund and Crabbe Huson  Special  Fund (the  "Funds")
on June 18,  1999,  the  Board of  Trustees determined not to retain KPMG LLP
("KPMG") as the independent accountants of the Funds,  and voted to appoint
Ernst & Young LLP for the fiscal year ended October 31,  1999.  During  the
two most  recent  fiscal  years,  KPMG's  audit  reports contained  no adverse
opinion or  disclaimer  of opinion;  nor were its reports
qualified or modified as to uncertainty,  audit scope, or accounting
principle. Further,  in connection with its audits for the two most
recent fiscal years and through June 18, 1999, there were no disagreements
between the Funds and KPMG on any matter of accounting principles
or practices, financial statement disclosure or auditing  scope or procedure,
which if not resolved to the  satisfaction  of KPMG would have caused it to
make reference to the  disagreements  in its report
on the financial statements for such years.

December 14, 1999


Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549

Dear Sirs:

We were previously independent  accountants for the Crabbe Huson Funds
listed in Exhibit I (copy attached) and, under the Date of Independent
Auditors'  Reports listed in Exhibit 1, we  reported  on the  financial
statements  and  financial highlights  as of the Final Audit Dates listed in
Exhibit I and for the years or periods  covered by our  Independent  Auditors'
Reports listed in Exhibit 1. We have  read the  statements  made by  Colonial
Management  Associates,  which we understand  will be filed in response  to
Sub-Item  77k of Form N-SAR and agree
with the statements concerning our firm contained therein.



Very truly yours,


KPMG LLP

Exhibit 1

                                     Final Audit            Date of Independent
Fund Name                            Date                   Auditor's Report

Crabbe Huson Contrarian Income Fund  October 31, 1998       December 4, 1998

Crabbe Huson Income Fund             October 31, 1998       December 4, 1998

Crabbe Huson Equity Fund             October 31, 1998       December 4, 1998

Crabbe Huson Managed Income &        October 31, 1998       December 4, 1998
  Equity Fund


Crabbe Huson Oregon Tax-Free Fund    October 31, 1998       December 4, 1998

Crabbe Huson Real Estate
   Investment Fund                   October 31, 1998       December 4, 1998

Crabbe Huson Special Fund            October 31, 1998       December 4, 1998



To the Shareholders and Trustees of Liberty Funds Trust III

In  planning  and  performing  our  audits of the  financial  statements
of the Colonial  Global  Equity  Fund,   Colonial  Global   Utilities  Fund,
Colonial International  Horizons Fund,  Colonial Select Value Fund and
Colonial Strategic Balanced  Fund (the  "Funds") for the year ended
October 31, 1999, we considered their  internal   control,   including
control   activities  for  safeguarding securities,  in order to determine
our auditing  procedures  for the purpose of expressing  our  opinion  on the
financial  statements  and to comply  with the
requirements of Form N-SAR, and not to provide assurance on internal control.

The  management of the Funds is responsible  for  establishing  and
maintaining internal control. In fulfilling this responsibility,
estimates and judgments by management  are  required to assess the expected
benefits and related  costs of controls.  Generally,  controls  that are
relevant  to an audit  pertain to the entity's objective of preparing
financial  statements for external purposes thatare  fairly   presented  in
conformity  with  generally   accepted   accounting
principles.   Those  controls   include  the   safeguarding  of
assets  against
unauthorized acquisition, use or disposition.

Because of inherent  limitations in internal control,  errors or
fraud may occur and not be detected.  Also,  projection of any evaluation
of internal control to future periods is subject to the risk that it may
become  inadequate  because of changes in conditions or that the
effectiveness of the design and operation may
deteriorate.

Our consideration of internal control would not necessarily disclose all
matters in  internal   control  that  might  be  material   weaknesses
under  standards established  by the  American  Institute  of  Certified
Public  Accountants.  A material weakness is a condition in which the
design or operation of one or more of the internal control components does
not reduce to a relatively low level the risk  that  misstatements  caused
by error or fraud in  amounts  that  would be
material in relation to the financial statements being audited may occur
and not be  detected  within a timely  period  by  employees  in the  normal
course  of performing  their assigned  functions.  However,  we noted
no matters  involving internal  control  and  its  operation,   including
controls  for  safeguarding securities,  that we consider to be material
weaknesses  as defined above as of
October 31, 1999.

This report is intended solely for the information and use of management
and the Trustees of Liberty Funds Trust III and the Securities  and Exchange
Commission and is not  intended  to be and  should  not be used by anyone
other than these specified parties.



PricewaterhouseCoopers LLP
Boston, MA
December 13, 1999



               REPORT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS



To the Shareholders and Board of Trustees of
   Liberty Funds Trust III

In planning and performing our audits of the financial statements of each
of the funds of Liberty  Funds Trust III listed in the  Appendix  attached
hereto (the Funds) for the year  ended  October  31,  1999,  we  considered
their  internal control,  including control activities for safeguarding
securities,  in order to determine our auditing  procedures  for the purpose
of expressing our opinion on the financial  statements and to comply with the
requirements of Form N-SAR, not
to provide assurance on the internal control.

The  management of the Funds is responsible  for  establishing  and
maintaining internal control. In fulfilling this responsibility,  estimates
and judgments by management  are  required to assess the expected  benefits
and related  costs of controls.  Generally,  controls  that are  relevant
to an audit  pertain to the entity's objective of preparing financial
statements for external purposes that are  fairly   presented  in  conformity
with  generally   accepted   accounting principles.   Those  controls
include  the   safeguarding  of  assets  against
unauthorized acquisition, use or disposition.

Because of inherent  limitations in internal  control,  error or fraud may
occur and not be detected.  Also,  projection of any evaluation of internal
control to future periods is subject to the risk that it may become
inadequate  because of changes in conditions or that the  effectiveness of the
design and operation may deteriorate.

Our consideration of internal control would not necessarily disclose
all matters in  internal   control  that  might  be  material   weaknesses
under  standards established  by the  American  Institute  of  Certified
Public  Accountants.  A material weakness is a condition in which the design
or operation of one or more of the internal control components does not
reduce to a relatively low level the risk  that  misstatements  caused
by error or fraud in  amounts  that  would be material in relation to the
financial statements being audited may occur and not be  detected  within a
timely  period  by  employees  in the  normal  course  of performing  their
assigned  functions.  However,  we noted no matters  involving internal
control  and  its  operation,   including  controls  for  safeguarding
securities,  that we  consider  to be material  weaknesses  as defined
above at
October 31, 1999.

This report is intended solely for the  information  and use of management,
the Board of Trustees of Liberty  Funds Trust III, and the  Securities
and Exchange Commission and is not intended to be and should not be used by
anyone other than
these specified parties.

                                             ERNST & YOUNG LLP
Boston, Massachusetts
December 10, 1999

                                   Appendix


Funds of Liberty Funds Trust III audited for the year ended October 31, 1999:


                           The Crabbe Huson Special Fund, Inc.
                           Crabbe Huson Small Cap Fund
                           Crabbe Huson Managed Income & Equity Fund
                           Crabbe Huson Equity Fund
                           Crabbe Huson Real Estate Investment Fund
                           Crabbe Huson Oregon Tax-Free Fund
                           Crabbe Huson Contrarian Income Fund
                           Crabbe Huson Contrarian Fund
                           The Colonial Fund








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