SOURCE: ALPS Advisors, Inc.

ALPS Advisors, Inc.

December 11, 2009 14:51 ET

Liberty All-Star® Growth Fund, Inc. November 2009 Monthly Update

BOSTON, MA--(Marketwire - December 11, 2009) - Liberty All-Star® Growth Fund, Inc. (NYSE: ASG) November 2009 Monthly Update

                       November 2009 Monthly Update


Performance                            NAV     Market Price       Discount
-----------                            ---     ------------       --------
    Beginning of month value          $3.67       $3.04             17.2%
    Distributions                         -           -
    End of month value                $3.85       $3.15             18.2%
    Performance for month              4.90%       3.62%
    Performance year-to-date          25.93%      29.81%

    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.
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Net Assets at Month-End ($millions)
----------------------------------
    Total                            $115.7
    Equities                         $113.5
    Percent Invested in Equities       98.1%
--------------------------------------------------------------------------
Top 20 Holdings at Month-End (27.8% of equity portfolio)
-------------------------------------------------------
    (Rank from previous month)

 1  Visa, Inc., Class A (3)     1.7%    11  ANSYS, Inc. (11)           1.3%
 2  Microsoft Corp. (4)         1.7%    12  International Business
                                            Machines Corp. (15)        1.3%
 3  The TJX Companies, Inc. (6) 1.6%    13  Capella Education Co. (14) 1.3%
 4  Strayer Education, Inc. (2) 1.6%    14  National-Oilwell Varco,
                                            Inc. (1)                   1.2%
 5  Core Laboratories N.V. (5)  1.6%    15  eBay, Inc. (18)            1.2%
 6  Google, Inc., Class A (8)   1.6%    16  Adobe Systems, Inc. (9)    1.2%
 7  Starbucks Corp. (7)         1.5%    17  The Coca-Cola Co. (109)    1.2%
 8  Apple, Inc. (65)            1.5%    18  NetApp, Inc. (21)          1.2%
 9  Hewlett-Packard Co. (10)    1.4%    19  Resources Connection,
                                            Inc. (20)                  1.2%
10  EMC Corp. (12)              1.3%    20  Barrick Gold
                                            Corp. (27)                 1.2%

    Holdings are subject to change
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Sector Breakdown (% of equity portfolio) *
-----------------------------------------
    Information Technology     29.7%        New Holdings
    Health Care                15.7%        ------------
    Consumer Discretionary     15.4%        Allergan, Inc.
    Industrials                14.5%        America Movil SAB de C.V.
    Financials                 10.3%        Express Scripts, Inc.
    Energy                      7.1%
    Materials                   3.0%
    Consumer Staples            2.9%        Holdings Liquidated
    Telecommunication Services  0.9%        -------------------
    Utilities                   0.5%        Corning, Inc.
                             -------        Fiserv, Inc.
                              100.0%        Isis Pharmaceuticals, Inc.
                                            Joy Global, 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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