SOURCE: ALPS Advisers, Inc.

March 08, 2007 11:30 ET

Liberty All-Star® Growth Fund, Inc. February 2007 Monthly Update

BOSTON, MA -- (MARKET WIRE) -- March 8, 2007 -- Below is the February 2007 Monthly Update for the Liberty All-Star® Growth Fund, Inc. (NYSE: ASG)

                           February 2007 Monthly Update

                                                                Premium /
Performance                              NAV   Market Price     (Discount)
-----------                             -----  ------------    -----------
  Beginning of month value              $5.86      $5.55          -5.3%
  Distributions (Ex-Date February 28)   $0.15      $0.15
  End of month value                    $5.67      $5.49          -3.2%
  Performance for month                  (0.7%)     1.6%
  Performance year-to-date                2.3%      5.0%

  For daily data visit the Fund's website at www.all-starfunds.com
  or call 1-800-241-1850. Daily NAV is available under the symbol XASGX.

Net Assets at Month-End ($millions)
  Total                                 $156.2
  Equities                              $157.8
  Percent Invested in Equities           101.1%

Top 20 Holdings at Month-End (28.8% of equity portfolio)
--------------------------------------------------------
 (Rank from previous month)

1  Genentech (1)                  2.3%      11 Goldman Sachs (8)     1.4%
2  Affiliated Managers Group (2)  2.1%      12 Danaher (12)          1.3%
3  Corporate Executive Board (3)  1.8%      13 GFI Group (16)        1.3%
4  Resources Connection (5)       1.7%      14 PepsiCo (13)          1.2%
5  ResMed (4)                     1.7%      15 Walgreen (14)         1.2%
6  NIKE (7)                       1.5%      16 Johnson Controls (17) 1.2%
7  Fastenal (6)                   1.5%      17 Taiwan
8  Cognizant Technology                         Semiconductor (20)   1.1%
    Solutions (11)                1.4%      18 Amgen (15)            1.1%
9  Paychex (10)                   1.4%      19 Alliance Data
10 Cisco Systems (9)              1.4%          Systems (26)         1.1%
                                            20 Jabil Circuit (31)    1.1%

Sector Breakdown (% of equity portfolio) *   New Holdings
------------------------------------------   ------------
  Information Technology          26.2%      Accuray
  Consumer Discretionary          18.3%      Coach
  Health Care                     17.0%      Core Laboratories
  Industrials                     16.4%      Home Inns & Hotels Management
  Financials                      11.2%      InterMune
  Energy                           6.3%
  Consumer Staples                 2.7%      Holdings Liquidated
  Materials                        1.0%      -------------------
  Telecommunication Services       0.9%      3M
                                 100.0%      Cognex
                                 -----       Golar LNG
                                             Hydril
                                             Whole Foods Market

* Based on Standard & Poor's and Morgan Stanley Capital International
  Global Industry Classification Standard (GICS).

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