SOURCE: ALPS Advisers, Inc.

July 06, 2007 10:08 ET

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

BOSTON, MA--(Marketwire - July 6, 2007) - Below is the June 2007 Monthly Update for the Liberty All-Star® Growth Fund, Inc. (NYSE: ASG)

                      June 2007 Monthly Update

                                                       Premium /
Performance                     NAV    Market Price   (Discount)
-----------                    -----   ------------   ----------
  Beginning of month value     $5.88      $5.69          -3.2%
  Distributions                    -          -
  End of month value           $5.88      $5.70          -3.1%
  Performance for month          0.0%       0.2%
  Performance year-to-date       8.8%      11.9%

  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                                   $163.7
  Equities                                $159.2
  Percent Invested in Equities              97.3%
                                          ======

Top 20 Holdings at Month-End (26.4% of equity portfolio)
-------------------------------------------------------
  (Rank from previous month)

1  Danaher(4)                   1.9%   11 GFI Group(12)            1.2%
2  PepsiCo(3)                   1.8%   12 Johnson Controls(18)     1.2%
3  Resources Connection(2)      1.8%   13 Rockwell Collins(15)     1.2%
4  Affiliated Managers Group(1) 1.6%   14 Schlumberger(21)         1.1%
5  Cisco Systems(7)             1.6%   15 Genentech(14)            1.1%
6  Corporate Executive Board(5) 1.4%   16 Smith International(20)  1.1%
7  Praxair(10)                  1.4%   17 Walgreen(16)             1.1%
8  Paychex(9)                   1.3%   18 National Instruments(23) 1.1%
9  ANSYS(8)                     1.3%   19 Fastenal(11)             1.0%
10 Goldman Sachs(6)             1.2%   20 ResMed(17)               1.0%

    Holdings are subject to change

Sector Breakdown (% of equity portfolio) *   New Holdings
---------------------------------------      ---------------------------
  Information Technology       23.0%         Apache
  Industrials                  18.2%         Cogent Communications Group
  Consumer Discretionary       16.0%         Data Domain
  Health Care                  13.9%         Electronics for Imaging
  Financials                   10.8%         Flowserve
  Energy                        9.3%         Infinera
  Consumer Staples              4.3%         Security Capital Assurance
  Telecommunication Services    2.4%         VeriSign
  Materials                     2.1%
                              ------
                              100.0%         Holdings Liquidated
                                             ---------------------------
                                             Alliance Data Systems
                                             Broadcom
                                             CheckFree
                                             Cheesecake Factory
                                             Express Scripts
                                             Medtronic
                                             Microchip Technology
                                             NIKE
                                             Salix Pharmaceuticals
                                             TomoTherapy
                                             Westwood One

* Based on Standard & Poor's and Morgan Stanley Capital International
  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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