SOURCE: ALPS Advisors, Inc.

ALPS Advisors, Inc.

July 19, 2011 08:53 ET

Liberty All-Star® Equity Fund June 2011 Monthly Update

BOSTON, MA--(Marketwire - Jul 19, 2011) - Below is the June 2011 Monthly Update for the Liberty All-Star® Equity Fund. (NYSE: USA)

                         June 2011 Monthly Update

Performance                       NAV          Market Price        Discount
-----------                      -----         ------------        --------
  Beginning of month value       $5.88            $5.23              11.1%
  Distributions                     -               -
  End of month value             $5.74            $5.17               9.9%
  Performance for month         -2.38%           -1.15%
  Performance year-to-date       3.97%            8.66%

  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 XUSAX.  Past performance cannot predict future results.
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Net Assets at Month-End ($millions)
----------------------------------
  Total                          $1,049.2
  Equities                       $1,027.2
  Convertible Bonds                  $0.3

  Percent Invested                  97.9%
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Top 20 Holdings at Month-End (27.8% of portfolio)
------------------------------------------------
  (Rank from previous month)

1  Apple, Inc. (1)          2.8%  11 Visa, Inc., Class A (8)           1.1%
2  JPMorgan Chase & Co.(2)  2.1%  12 Consol Energy, Inc. (10)          1.1%
3  QUALCOMM, Inc. (4)       2.0%  13 Amazon.com, Inc. (14)             1.1%
4  Bank of America Corp.(5) 1.7%  14 Citigroup, Inc. (13)              1.1%
5  Dell, Inc. (3)           1.7%  15 PNC Financial Services
6  ACE Ltd. (6)             1.5%      Group, Inc.(7)                   1.1%
7  Wells Fargo & Co. (11)   1.5%  16 State Street Corp. (15)           1.1%
8  Cisco Systems, Inc.(28)  1.4%  17 BP PLC (16)                       1.1%
9  The Allstate Corp. (9)   1.2%  18 The Western Union Co. (17)        1.0%
10 Baidu, Inc. (12)         1.2%  19 C.H. Robinson Worldwide, Inc.(18) 1.0%
                                  20 Hewlett-Packard Co. (19)          1.0%

   Holdings are subject to change
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Sector Breakdown (% of portfolio)*   New Holdings
---------------------------------    ------------
   Information Technology    23.9%   Abbott Laboratories
   Financials                19.5%   British American Tobacco PLC
   Energy                    14.1%   The Estee Lauder Cos, Inc.
   Consumer Discretionary    10.5%   KB Home
   Health Care                9.7%   Orient-Express Hotels Ltd.
   Industrials                8.9%   Robert Half International, Inc.
   Consumer Staples           5.4%   Vodafone Group PLC
   Materials                  3.9%
   Utilities                  2.9%   Holdings Liquidated
   Telecommunication Services 1.2%   ------------------------
                            ------   Bristol-Myers Squibb Company
                            100.0%   General Mills, Inc.
                            ======   The McGraw Hill Cos., Inc.
                                     Torchmark Corporation
                                     VistaPrint Ltd.

* Based on Standard & Poor's and MSCI Barra Global Industry Classification
  Standard (GICS).

The Liberty All-Star Equity Fund is a closed-end fund and does not
continuously offer shares.

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