CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
We consent to the references to our firm under the captions "Financial
Highlights" in the Prospectus dated March 1, 2000 and "Independent Auditors" in
the Statement of Additional Information dated March 1, 2000, of The Liberty Fund
(formerly, The Colonial Fund, one of the series comprising Liberty Funds Trust
III) and to the incorporation by reference of our report dated December 10, 1999
with respect to the financial statements and financial highlights of The
Colonial Fund included in The Colonial Fund Annual Report dated October 31, 1999
in the Statement of Additional Information, which Prospectus is attached to and
Statement of Additional information is incorporated by reference in the
Prospectus/Proxy Statement and the Statement of Additional Information included
in this Registration Statement on Form N-14 (File No. 2-15184) of Liberty Funds
Trust III.
/s/ERNST & YOUNG LLP
Boston, Massachusetts
November 24, 2000
<PAGE>
CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
We consent to the references to our firm under the captions "Financial
Highlights" in the Prospectuses dated March 1, 2000 and "Independent Auditors"
in the Statements of Additional Information dated March 1, 2000, of Liberty
Contrarian Small Cap Fund and Liberty Special Fund (formerly Crabbe Huson Small
Cap Fund and Crabbe Huson Special Fund, respectively, two of the series
comprising Liberty Funds Trust III) and to the incorporation by reference of our
reports dated December 10, 1999 with respect to the financial statements and
financial highlights of Crabbe Huson Small Cap Fund and Crabbe Huson Special
Fund included in the Crabbe Huson Funds Annual Report dated October 31, 1999 in
the Statement of Additional Information, which Prospectus is attached to and
Statement of Additional information is incorporated by reference in the
Prospectus/Proxy Statement and the Statement of Additional Information included
in this Registration Statement on Form N-14 (File No. 2-15184) of Liberty Funds
Trust III.
/s/ ERNST & YOUNG LLP
Boston, Massachusetts
November 24, 2000
<PAGE>
CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
We consent to the references to our firm under the captions "Financial
Highlights" in the Prospectuses dated March 1, 2000 and "Independent Auditors"
in the Statements of Additional Information dated March 1, 2000, of Liberty
Contrarian Balanced Fund and Liberty Contrarian Equity Fund (formerly Crabbe
Huson Managed Income & Equity Fund and Crabbe Huson Equity Fund, respectively,
two of the series comprising Liberty Funds Trust III) and to the incorporation
by reference of our reports dated December 10, 1999 with respect to the
financial statements and financial highlights of Crabbe Huson Managed Income &
Equity Fund and Crabbe Huson Equity Fund included in the Crabbe Huson Funds
Annual Report dated October 31, 1999 in the Statement of Additional Information,
which Prospectus is attached to and Statement of Additional information is
incorporated by reference in the Prospectus/Proxy Statement and the Statement of
Additional Information included in this Registration Statement on Form N-14
(File No. 2-15184) of Liberty Funds Trust III.
/s/ ERNST & YOUNG LLP
Boston, Massachusetts
November 24, 2000
