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<PAGE> PAGE 2
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SIGNATURE J. JERRY INSKEEP, JR.
TITLE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
AUDITED ANNUAL REPORT OF THE COLUMBIA FUNDS DATED DECEMBER 31, 1999, AND
THE AUDITED ANNUAL REPORT OF THE COLUMBIA FUNDS DATED DECEMBER 31, 1998,
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<CIK> 0000741558
<NAME> COLUMBIA OREGON MUNICIPAL BOND FUND, INC.
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 415,261,904
<INVESTMENTS-AT-VALUE> 405,891,130
<RECEIVABLES> 5,392,071
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 411,283,201
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,364,660
<TOTAL-LIABILITIES> 1,364,660
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 419,361,936
<SHARES-COMMON-STOCK> 35,458,152
<SHARES-COMMON-PRIOR> 37,152,839
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (72,621)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (9,370,774)
<NET-ASSETS> 409,918,541
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 23,417,844
<OTHER-INCOME> 0
<EXPENSES-NET> 2,579,645
<NET-INVESTMENT-INCOME> 20,838,199
<REALIZED-GAINS-CURRENT> 583,400
<APPREC-INCREASE-CURRENT> (33,170,458)
<NET-CHANGE-FROM-OPS> (11,748,859)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 20,838,199
<DISTRIBUTIONS-OF-GAINS> 664,050
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,638,760
<NUMBER-OF-SHARES-REDEEMED> 10,762,622
<SHARES-REINVESTED> 1,429,175
<NET-CHANGE-IN-ASSETS> (52,890,182)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 8,029
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,246,866
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,580,844
<AVERAGE-NET-ASSETS> 449,373,250
<PER-SHARE-NAV-BEGIN> 12.46
<PER-SHARE-NII> 0.56
<PER-SHARE-GAIN-APPREC> (0.88)
<PER-SHARE-DIVIDEND> 0.560
<PER-SHARE-DISTRIBUTIONS> 0.019
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.56
<EXPENSE-RATIO> 0.57
</TABLE>
Report of Independent Accountants
To the Board of Directors and Shareholders of
Columbia Oregon Municipal Bond Fund, Inc.
In planning and performing our audit of the financial statements of
Columbia Oregon Municipal Bond Fund, Inc. (the Fund) for the year
ended December 31, 1999, we considered its 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 internal control.
The management of the Fund 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, 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 controls may become
inadequate because of changes in conditions or that the effectiveness of
their 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 December 31,
1999.
This report is intended solely for the information and use of the Board of
Directors, management 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
Portland, Oregon
February 4, 2000
