Below is the December 2009 Monthly Update for the Liberty All-Star® Equity Fund. (
December 2009 Monthly Update Performance NAV Market Price Discount Beginning of month value $5.15 $4.17 19.0% Distributions (Ex-Date December 16) $0.08 $0.08 End of month value $5.23 $4.33 17.2% Performance for month 3.11% 5.76% Performance year-to-date 33.48% 35.19% For daily data visit the Fund's website at www.all-starfunds.com or call 1-800-241-1850. The Fund's daily NAV is also available by using the symbol XUSAX. Past performance cannot predict future results. Net Assets at Month-End ($millions) Total $956.1 Equities $946.7 Percent Invested 99.0% Top 20 Holdings at Month-End (28.6% of portfolio) (Rank from previous month) 1 Apple, Inc. (5) 2.4% 11 The Allstate Corp. (12) 1.2% 2 Bank of America Corp. (3) 2.2% 12 Hewlett-Packard Co. (35) 1.2% 3 Dell, Inc. (4) 2.0% 13 Arch Coal, Inc. (15) 1.2% 4 Google, Inc., Class A (2) 2.0% 14 Magna International, (14) 1.1% 5 QUALCOMM, Inc. (19) 1.9% Inc., Class A 6 Gilead Sciences, Inc. (32) 1.6% 15 The Boeing Co. (18) 1.1% 7 Monsanto Co. (34) 1.4% 16 Microsoft Corp. (1) 1.1% 8 Chesapeake Energy Corp. (9) 1.4% 17 JPMorgan Chase & Co. (13) 1.1% 9 PNC Financial Services (7) 1.4% 18 Adobe Systems, Inc. (51) 1.0% Group, Inc. 19 Tyco Electronics Ltd. (48) 1.0% 10 Forest Oil Corp. (16) 1.3% 20 Amazon.com, Inc. (11) 1.0% Holdings are subject to change Sector Breakdown (% of portfolio)* New Holdings ** Information Technology 23.3% Assured Guaranty Ltd. Financials 18.5% The Sherwin-Williams Co. Energy 13.0% Wells Fargo & Co. Consumer Discretionary 12.7% Health Care 11.7% Holdings Liquidated ** Industrials 9.4% Accenture Ltd., Class A Consumer Staples 5.9% CareFusion Corp. Utilities 3.0% EXCO Resources, Inc. Materials 2.5% General Motors Corp., Series C 100.0% McAfee, Inc. TD Ameritrade Holding Corp. * Based on Standard & Poor's and MSCI Barra Global Industry Classification Standard (GICS). ** Transactions resulting from the manager replacement of Chase Investment Counsel Corporation with Cornerstone Capital Management, Inc. as one of the Fund's five portfolio managers effective December 21, 2009 are excluded from the New Holdings and Holdings Liquidated. The Liberty All-Star Equity Fund is a closed-end fund and does not continuously offer shares.
Contact Information: Contact Information: Liberty All-Star Equity Fund 1-800-241-1850 www.all-starfunds.com