UNITED STATES OF AMERICA

UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

Release No. 55332 / February 22, 2007

ADMINISTRATIVE PROCEEDING

File No. 3-11814

In the Matter of

:

:

COLUMBIA

:

MANAGEMENT ADVISORS, ORDER EXTENDING TIME TO

:

INC. and COLUMBIA

ENTER AN ORDER APPROVING

:

FUNDS DISTRIBUTOR,

OR DISAPPROVING DISTRIBUTION PLAN

:

INC.,

:

:

Respondents.

:

I.

On July 19, 2006, pursuant to Rule 1103 of the Securities and Exchange Commission’s

Rules on Fair Fund and Disgorgement Plans (“Fair Fund Rules”), 17 C.F.R. § 201.1103, the

Commission published a Notice of Proposed Plan and Opportunity for Comment (“Notice”) for

the distribution of monies placed into a Fair Fund in the above-captioned matter. The Notice

invited public comment on the proposed distribution plan through August 18, 2006.

On September 20, 2006, pursuant to Fair Fund Rule 1104, 17 C.F.R. § 201.1104, the

Commission extended, for good cause shown, the time for entering an Order approving or

disapproving the proposed distribution plan through December 16, 2006. 1

On January 9, 2007, pursuant to Fair Fund Rule 1104, 17 C.F.R. § 201.1104, the

Commission again extended, for good cause shown, the time for entering an Order approving or

disapproving the proposed distribution plan through February 14, 2007.

The Commission believes that because of the complexity of the comments received,

additional evaluation, review and analysis of the proposed distribution plan are required, and

therefore good cause has been shown to extend the time period provided in Rule 1104 for entry

of an order approving or disapproving the plan by an additional thirty days, to March 16, 2007.

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Rule 1104 of the Commission’s Rules on Fair Fund and Disgorgement Plans, 17 C.F.R. § 201.1104,

provides:

At any time after 30 days following publication of notice of a proposed plan of disgorgement or of

a proposed Fair Fund plan, the Commission shall, by order, approve, approve with modifications,

or disapprove the proposed plan. In the discretion of the Commission, a proposed plan that is

substantially modified prior to adoption may be republished for an additional comment period

pursuant to 17 CFR 201.1103. The order approving or disapproving the plan should be entered

within 30 days after the end of the final period allowed for comments on the proposed plan unless

the Commission or the hearing officer, by written order, allows a longer period for good cause

shown.

Thirty days from the end of the final period for comments on the proposed distribution plan lapsed on September 17,

2006. Because of the complexity of the comments received, further evaluation, review and analysis was required,

and good cause was shown to extend the thirty day time period provided in Rule 1104 for entry of an order

approving or disapproving the plan by ninety days, to December 16, 2006.

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II.

Accordingly, IT IS ORDERED that:

Pursuant to Rule 1104 of the Rules on Fair Fund and Disgorgement Plans, 17 C.F.R. §

201.1104, for good cause shown, the time for entering an Order approving or disapproving the

proposed distribution plan is extended through March 16, 2007.

By the Commission.

Nancy M. Morris

Secretary

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