  We present UBVI photometry for the old open cluster Collinder 261. From
comparison of the observed colour-magnitude diagrams with simulations based on
stellar evolutionary models we derive in a self consistent way reddening,
distance, and age of the cluster: E(B-V)=0.25$-$0.34, (m-M)$_0$=11.7-12.0, and
age=7$-$8 Gyr or 9$-$11 Gyr, depending on the adopted stellar tracks. The
models in better agreement with the data turn out to have metallicity at most
solar.
