SOURCE: ALPS Advisors, Inc.

ALPS Advisors, Inc.

August 19, 2010 10:49 ET

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

BOSTON, MA--(Marketwire - August 19, 2010) -


Below is the July 2010 Monthly Update for the Liberty All-Star® Growth Fund, Inc. (NYSE: ASG)

                         July 2010 Monthly Update



Performance                              NAV     Market Price    Discount
-----------                            -------  --------------  ----------
      Beginning of month value          $3.76       $3.41          9.3%
      Distributions                         -           -
      End of month value                $3.98       $3.58         10.1%
      Performance for month              5.85%       4.99%
      Performance year-to-date           2.55%      10.01%

   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                            $119.7
      Equities                         $116.9
      Percent Invested in Equities       97.7%
---------------------------------------------------------------------------
Top 20 Holdings at Month-End (31.8% of equity portfolio)
--------------------------------------------------------
(Rank from previous month)

1  C.H. Robinson Worldwide, Inc. (2) 2.5%   11 Masimo Corp. (7)        1.4%
2  Salesforce.com, Inc. (1)          2.4%   12 ACE Ltd. (8)            1.4%
3  Apple, Inc. (3)                   2.0%   13 MSCI, Inc. (25)         1.4%
4  Intuitive Surgical, Inc. (4)      1.8%   14 Varian Medical
                                                Systems, Inc. (14)     1.4%
5  Rockwell Automation, Inc. (6)     1.8%   15 Visa, Inc.,
                                                Class A (13)           1.4%
6  Core Laboratories N.V. (5)        1.7%   16 Capella Education
                                                Co. (17)               1.3%
7  Expeditors International of              17 Quanta Services, Inc.
   Washington, Inc. (12)             1.6%      (15)                    1.3%
8  Strayer Education, Inc. (11)      1.6%   18 VeriFone Systems, Inc.
                                               (24)                    1.2%
9  QUALCOMM, Inc. (10)               1.6%   19 VMware, Inc. (26)       1.2%
10 Google, Inc., Class A (9)         1.6%   20 LKQ Corp. (18)          1.2%

   Holdings are subject to change
---------------------------------------------------------------------------

Sector Breakdown (% of equity portfolio) *
------------------------------------------
   Information Technology           25.7%    New Holdings
   Industrials                      20.6%    ------------
   Health Care                      18.9%    ARM Holdings Plc
   Financials                       11.7%    CarMax, Inc.
   Consumer Discretionary            9.4%    Internet Brands, Inc.
   Energy                            7.7%    SMART Technologies, Inc.
   Consumer Staples                  2.5%    Watts Water Technologies, Inc.
   Materials                         1.9%
   Telecommunication
   Services                          0.9%
   Utilities                         0.7%    Holdings Liquidated
                                   ------    --------------------
                                   100.0%    Cummins, Inc.
                                             Fastenal Co.
                                             Gilead Sciences, Inc.
                                             Wabtec Corp.

* 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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