Agreement and Plan of Reorganization (2006)Full Document 

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                     AGREEMENT AND PLAN OF REORGANIZATION

   THIS AGREEMENT AND PLAN OF REORGANIZATION dated as of September 26, 2005, is
by and among: Columbia Funds Trust II, a Massachusetts business trust, for
itself and on behalf of its series Columbia Money Market Fund; Columbia Funds
Trust IV, a Massachusetts business trust, for itself and on behalf of its
series Columbia Municipal Money Market Fund; Columbia Daily Income Company, an
Oregon corporation; Columbia Funds Series Trust, a Delaware statutory trust,
for itself and on behalf of its series Columbia Cash Reserves and Columbia
Municipal Reserves; and Columbia Management Advisors, Inc.

   This Agreement is intended to be and is adopted as a plan of reorganization
and liquidation within the meaning of Sections 361(a) and Section 368(a) of the
United States Internal Revenue Code of 1986, as amended. Each reorganization
will consist of the transfer of all of the assets of each Acquired Fund to, and
the assumption of such Acquired Fund's liabilities (other than certain expenses
of the reorganization contemplated hereby) by, its corresponding Acquiring
Fund, in exchange for shares of equal U.S. dollar value of such Acquiring Fund
which shall thereafter promptly be distributed to the shareholders of such
Acquired Fund in connection with its liquidation as described in this Agreement
and set forth in Schedule A attached hereto.

   In consideration of the premises and of the covenants and agreements
hereinafter set forth, the parties hereto covenant and agree as follows:

1.  DEFINITIONS


                             
     Acquired Columbia Fund(s). Columbia Money Market Fund, Columbia
                                Municipal Money Market Fund and Columbia
                                Daily Income Company,

     Acquired Fund Shareholders The recordholders of Acquired Fund shares as of
                                the close of business on the Valuation Date

     Acquiring Fund(s)......... Columbia Cash Reserves and Columbia Municipal
                                Reserves

     Acquired Fund Prospectus.. The current prospectus(es) or statement(s) of
                                additional information for an Acquired Fund

     Acquiring Fund Prospectus. The current prospectus(es) or statement(s) of
                                additional information for an Acquiring Fund

     Acquisition Shares........ The shares of the designated class of an Acquiring
                                Fund to be issued and distributed to the
                                corresponding Acquired Fund class shareholder as
                                part of the Reorganization of the Acquired Fund as
                                shown on Appendix A

     Board(s).................. The board(s) of trustees/directors of a Columbia
                                Fund Company and/or Columbia Funds Series Trust

     Board Members............. The trustees/directors of a Columbia Fund
                                Company

     Charter Documents......... Any certificate of trust, declaration of trust, by-
                                laws, articles of incorporation, and any amendments
                                thereto, that govern the operation of a Columbia
                                Fund Company or Columbia Funds Series Trust

     Closing................... The closing of each Reorganization described in
                                Section 4





                             
     Closing Date.............. November 18, 2005

     Code...................... United States Internal Revenue Code of 1986, as
                                amended,

     Columbia Fund Company(ies) Columbia Funds Trust II, Columbia Funds IV and
                                Columbia Daily Income Company

     Columbia.................. Columbia Management Advisors, Inc.

     Custodian................. State Street Bank and Trust Company

     Investments............... Each Acquired Fund's investments shown on the
                                schedule of its investments as of [June 30,] 2005,
                                referred to in subparagraph 5.1(f) hereof, as
                                supplemented with such changes in the portfolio as
                                the Acquired Fund shall make, and changes
                                resulting from stock dividends, stock split-ups,
                                mergers and similar corporate actions through the
                                Closing Date

     Liquidation Date.......... A date as soon after the Closing Date as is
                                conveniently practicable

     Obligations............... All of an Acquired Fund's liabilities and obligations
                                of any kind whatsoever, whether absolute, accrued,
                                contingent or otherwise, in existence on the Closing
                                Date

     Reorganization(s)......... The reorganization(s) of an Acquired Fund by an
                                Acquiring Fund as described in Section 2

     SEC....................... U.S. Securities and Exchange Commission

     Valuation Date............ The time and date when the value of an Acquired
                                Fund's assets to be acquired by its corresponding
                                Acquiring Fund hereunder shall be computed,
                                which shall be as of the close of regular trading on
                                the New York Stock Exchange on the business day
                                next preceding the Closing

     1933 Act.................. The Securities Act of 1933

     1934 Act.................. The Securities Exchange Act of 1934


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