SOURCE: ALPS Advisors, Inc.

ALPS Advisors, Inc.

April 14, 2010 15:09 ET

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

BOSTON, MA--(Marketwire - April 14, 2010) - Below is the March 2010 Monthly Update for the Liberty All-Star® Growth Fund, Inc. (NYSE: ASG)

                        March 2010 Monthly Update

Performance                       NAV          Market Price        Discount
                                 -----         ------------        --------
      Beginning of month
       value                     $3.96             $3.46             12.6%
      Distributions                -                -
      End of month value         $4.23             $3.74             11.6%
      Performance for
       month                      6.82%             8.09%
      Performance
       year-to-date               7.35%            13.08%

      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                     $ 127.2
      Equities                  $ 124.0
      Percent Invested
       in Equities                 97.5%
---------------------------------------------------------------------------

Top 20 Holdings at Month-End (26.1% of equity portfolio)
      (Rank from previous month)

1  Core Laboratories N.V.                  The Blackstone Group LP
   (1)                      1.7%      11                        (3)    1.3%
2  Strayer Education,                        Resources Connection,
   Inc. (2)                 1.6%      12                  Inc. (21)    1.2%
3  Visa, Inc., Class A
   (4)                      1.5%      13  Google, Inc., Class A (9)    1.2%
4  Microsoft Corp. (8)      1.5%      14           ANSYS, Inc. (10)    1.2%
5  PepsiCo, Inc. (6)        1.5%      15            MSCI, Inc. (22)    1.1%
6  Applied Materials,                         Gilead Sciences, Inc.
   Inc. (25)                1.5%      16                       (14)    1.1%
                                             Lincare Holdings, Inc.
7  Apple, Inc. (7)          1.4%      17                       (17)    1.1%
8  Best Buy Co., Inc.
   (15)                     1.3%      18         Polycom, Inc. (19)    1.1%
9  Capella Education Co.                   Intuitive Surgical, Inc.
   (11)                     1.3%      19                       (13)    1.1%
                                               Affiliated Managers
10 EMC Corp. (12)           1.3%      20           Group, Inc. (16)    1.1%
      Holdings are subject to change

Sector Breakdown (% of equity portfolio)*
      Information
       Technology         26.0%                      New Holdings
                                         ------------------------
                                             Acorda Therapeutics,
      Industrials         18.7%                              Inc.
                                           Beacon Roofing Supply,
      Health Care         16.6%                              Inc.
      Financials          12.5%                 Caterpillar, Inc.
      Consumer
       Discretionary      11.8%                   Medtronic, Inc.
      Energy               7.9%                       Rue21, Inc.
                                            Sensata Technologies
      Consumer Staples     3.4%                      Holding N.V.
      Telecommunication
       Services            1.5%                     Volcano Corp.
      Materials            1.0%
      Utilities            0.6%               Holdings Liquidated
                         -----           ------------------------
                         100.0%             Electronic Arts, Inc.
                                                        K12, Inc.
                                            Las Vegas Sands Corp.
                                          Life Time Fitness, Inc.
                                                 Medivation, Inc.
                                          Research In Motion Ltd.
                                             Smith International,
                                                             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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