SOURCE: ALPS Advisors, Inc.

ALPS Advisors, Inc.

March 14, 2011 14:46 ET

Liberty All-Star® Growth Fund, Inc. February 2011 Monthly Update

BOSTON, MA--(Marketwire - March 14, 2011) -


Below is the February 2011 Monthly Update for the Liberty All-Star® Growth Fund, Inc. (NYSE: ASG)

                   February 2011 Monthly Update


Performance                         NAV   Market Price     Discount
-----------                        ----- -------------     --------
  Beginning of month value         $4.63     $4.29              7.3%
  Distributions (Ex-Date February
   23)                             $0.07     $0.07
  End of month value               $4.74     $4.43              6.5%
  Performance for month             3.89%     4.90%
  Performance year-to-date          5.25%     5.88%

  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                           $142.7
  Equities                        $142.0
  Percent Invested in Equities      99.5%
---------------------------------------------------------------------------

Top 20 Holdings at Month-End (32.5% of equity portfolio)
-------------------------------------------------------
  (Rank from previous month)

1  Apple, Inc. (2)                   2.2%  11 Google, Inc., Class A(8) 1.6%
2  C.H. Robinson Worldwide, Inc. (1) 2.1%  12 Expeditors International
                                               of Washington, Inc.(9)  1.5%
3  Salesforce.com, Inc. (3)          2.1%  13 VeriFone Systems,
                                               Inc.(16)                1.4%
4  QUALCOMM, Inc. (4)                2.0%  14 ACE Ltd. (14)            1.4%
5  Rockwell Automation, Inc. (5)     1.8%  15 IHS, Inc., Class A (13)  1.4%
6  Core Laboratories N.V. (7)        1.8%  16 Resources Connection,
                                               Inc. (12)               1.4%
7  FMC Technologies, Inc. (10)       1.7%  17 Baidu, Inc. (52)         1.4%
8  Intuitive Surgical, Inc. (6)      1.7%  18 Schlumberger Ltd.(17)    1.3%
9  Rue21, Inc. (15)                  1.6%  19 LKQ Corp. (18)           1.3%
10 Oceaneering International,              20 American Tower Corp.,
    Inc. (11)                        1.6%     Class A (27)             1.2%

  Holdings are subject to change
---------------------------------------------------------------------------

Sector Breakdown (% of equity portfolio) *
------------------------------------------
                                                     New Holdings
  Information Technology              26.6%          ------------
  Industrials                         17.4%          Fossil, Inc.
  Health Care                         14.7%          Silver Wheaton Corp.
  Consumer Discretionary              12.6%
  Financials                          11.6%
  Energy                              10.2%
  Consumer Staples                     2.9%
  Materials                            2.1%
  Telecommunication Services           1.2%
  Utilities                            0.7%
                                     -----
                                     100.0%
                                     =====
                                                   Holdings Liquidated
                                                   -------------------
                                                   Genzyme Corp.
                                                   The Procter & Gamble Co.

* 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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