SOURCE: ALPS Advisors, Inc.

ALPS Advisors, Inc.

February 11, 2010 10:40 ET

Liberty All-Star® Growth Fund, Inc. January 2010 Monthly Update

BOSTON, MA--(Marketwire - February 11, 2010) - Below is the January 2010 Monthly Update for the Liberty All-Star® Growth Fund, Inc. (NYSE: ASG)

                        January 2010 Monthly Update

Performance                             NAV      Market Price     Discount
-----------                           -------  -----------------  --------
  Beginning of month value            $  4.00       $ 3.36         16.0%
  Distributions                           -            -
  End of month value                  $  3.84       $ 3.27         14.8%
  Performance for month                 (4.00%)      (2.68%)
  Performance year-to-date              (4.00%)      (2.68%)

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 XASGX.  Past performance cannot predict future results.
--------------------------------------------------------------------------
Net Assets at Month-End ($millions)
-----------------------------------
  Total                               $ 115.5
  Equities                            $ 112.7
  Percent Invested in Equities           97.5%

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Top 20 Holdings at Month-End (26.3% of equity portfolio)
--------------------------------------------------------
(Rank from previous month)


1  Core Laboratories N.V.(1)  1.8%  11 Gilead Sciences, Inc.(44)      1.2%
2  Strayer Education, Inc.(3) 1.6%  12 EMC Corp.(13)                  1.2%
3  Visa, Inc., Class A(5)     1.5%  13 Best Buy Co., Inc.(21)         1.2%
4  PepsiCo, Inc.(10)          1.5%  14 Intuitive Surgical, Inc.(25)   1.2%
5  China Mobile Ltd.(7)       1.5%  15 Capella Education Co.(11)      1.2%
6  Microsoft Corp.(9)         1.5%  16 Resources Connection, Inc.(12) 1.1%
7  Google, Inc., Class A(2)   1.5%  17 VCA Antech, Inc.(35)           1.1%
8  Apple, Inc.(4)             1.4%  18 Lincare Holdings, Inc.(28)     1.0%
9  The Blackstone Group LP(6) 1.4%  19 Salesforce.com, Inc.(15)       1.0%
10 ANSYS, Inc.(8)             1.4%  20 MSCI, Inc.(27)                 1.0%

   Holdings are subject to change
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Sector Breakdown (% of equity portfolio) *
----------------------------------------
   Information Technology    25.8%    New Holdings
                                      -----------------
   Industrials               18.4%    Aixtron AG
   Health Care               16.6%    The Coca-Cola Co.
   Consumer Discretionary    12.2%    Duff & Phelps Corp., Class A
   Financials                11.6%    MannKind Corp.
   Energy                     8.4%    Marvell Technology Group Ltd.
   Consumer Staples           3.5%    Verizon Communications, Inc.
   Telecommunication Services 2.0%
   Materials                  0.9%    Holdings Liquidated
   Utilities                  0.6%    -------------------
                             -----    athenahealth, Inc.
                            100.0%    Chipotle Mexican Grill, Inc., Class A
                                      Deere & Co.
                                      SRA International, Inc.
                                      Tower Group, Inc.

* Based on Standard & Poor's and MSCI Barra Global Industry Classification
  Standard (GICS).
  The Liberty All-Star Growth Fund, Inc. is a closed-end fund and does
  not continuously offer shares.

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