Total Ordinary Dividends
------------------------
Amount Long-Term
Record Payable per Capital Return of
Date Date Share Qualified Non-Qualified Gains Capital
---------- -------- -------- ----------- ----------- ---------- -------
12/12/08* 01/02/09 $ 0.10 5.77% 0.36% -- 93.87%
01/30/09 03/16/09 $ 0.10 5.77% 0.36% -- 93.87%
05/08/09 06/22/09 $ 0.06 5.77% 0.36% -- 93.87%
08/28/09 09/14/09 $ 0.07 5.77% 0.36% -- 93.87%
12/18/09** 01/04/10 $ 0.08 -- -- -- --
* Pursuant to Section 852 of the Internal Revenue Code, the taxability of
this distribution will be reported in the Form 1099-DIV for 2009.
** Pursuant to Section 852 of the Internal Revenue Code, the taxability of
this distribution will be reported in the Form 1099-DIV for 2010.
The tax designations of the distributions were previously reported to
shareholders on a tentative book basis. The final tax designations are
based upon tax reporting requirements and should be used by shareholders
for tax return preparation.
ALPS Advisors, Inc. is the fund manager of the All-Star Equity Fund, a
multi-managed, closed-end investment company with more than $979 million in
net assets. The Fund's shares are listed on the New York Stock Exchange
under the symbol USA.
The Liberty All-Star Equity Fund is a closed-end fund and does not
continuously offer shares. The Fund trades in the secondary market,
investors wishing to buy or sell shares need to place orders through an
intermediary or broker. The share price of a closed-end fund is based on
the market's value.
Contact Information: For information contact: Liberty All-Star Equity Fund 1-800-241-1850 www.all-starfunds.com