SOURCE: ALPS Advisors, Inc.

ALPS Advisors, Inc.

March 10, 2010 10:53 ET

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

BOSTON, MA--(Marketwire - March 10, 2010) - Below is the February 2010 Monthly Update for the Liberty All-Star® Growth Fund, Inc. (NYSE: ASG)

                       February 2010 Monthly Update

Performance                       NAV          Market Price       Discount
-----------                     -------  -----------------------  --------
  Beginning of month value      $  3.84          $ 3.27             14.8%
  Distributions (Ex-Date
   February 24)                 $  0.06          $ 0.06
  End of month value            $  3.96          $ 3.46             12.6%
  Performance for month            4.69%           7.65%
  Performance year-to-date         0.50%           4.76%

  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                         $ 119.0
  Equities                      $ 118.7
  Percent Invested in Equities     99.7%
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Top 20 Holdings at Month-End (26.3% of equity portfolio)
-------------------------------------------------------
  (Rank from previous month)

1  Core Laboratories N.V. (1)  1.8%   11 Capella Education Co.(15)     1.3%
2  Strayer Education, Inc. (2) 1.7%   12 EMC Corp. (12)                1.2%
3  The Blackstone Group LP (9) 1.5%   13 Intuitive Surgical, Inc. (14) 1.2%
4  Visa, Inc., Class A (3)     1.5%   14 Gilead Sciences, Inc.(11)     1.2%
5  China Mobile Ltd. (5)       1.5%   15 Best Buy Co., Inc. (13)       1.1%
6  PepsiCo, Inc. (4)           1.5%   16 Affiliated Managers
7  Apple, Inc. (8)             1.4%       Group, Inc.(32)              1.1%
8  Microsoft Corp. (6)         1.4%   17 Lincare Holdings, Inc. (18)   1.1%
9  Google, Inc., Class A(7)    1.4%   18 Salesforce.com, Inc.(19)      1.1%
10 ANSYS, Inc. (10)            1.3%   19 Polycom, Inc. (27)            1.0%
                                      20 Signature Bank (24)           1.0%

   Holdings are subject to change
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Sector Breakdown (% of equity portfolio) *
---------------------------------------
   Information Technology      26.3%     New Holdings
   Industrials                 17.3%     -----------------------
   Health Care                 16.1%     AT&T, Inc.
   Consumer Discretionary      12.2%     SEI Investments Co.
   Financials                  11.8%
   Energy                       8.8%     Holdings Liquidated
   Consumer Staples             3.4%     -----------------------
   Telecommunication Services   2.5%     First Solar, Inc.
   Materials                    1.0%     IntercontinentalExchange, Inc.
   Utilities                    0.6%     XenoPort, Inc.
                              -----
                              100.0%

   * 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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