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
Oregon Tax-Exempt Fund (formerly, Crabbe Huson Oregon Tax-Free 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 Crabbe Huson Tax-Free Fund included in the Crabbe
Huson Funds Annual Report dated October 31, 1999 in the Statement of Additional
Information, which Prospectus and Statement of Additional information are
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 2, 2000
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CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
We consent to the references to our firm under the captions "Financial
Highlights" in the Prospectuses dated June 1, 2000 and "Independent Auditors" in
the Statements of Additional Information dated June 1, 2000, of Liberty Florida
Tax-Exempt Fund and Liberty Michigan Tax-Exempt Fund (formerly, Colonial Florida
Tax-Exempt Fund and Colonial Michigan Tax-Exempt Fund, respectively, two of the
series comprising Liberty Funds Trust V) and to the incorporation by reference
of our reports dated March 13, 2000 with respect to the financial statements and
financial highlights of Colonial Florida Tax-Exempt Fund and Colonial Michigan
Tax-Exempt Fund included in the Colonial Florida Tax-Exempt Fund Annual Report
dated January 31, 2000 and Colonial Michigan Tax-Exempt Fund Annual Report dated
January 31, 2000, respectively, in the Statement of Additional Information,
which Prospectus and Statement of Additional Information are 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.
33-12109) of Liberty Funds Trust V.
/s/Ernst & Young LLP
Boston, Massachusetts
November 2, 2000
