SOURCE: ALPS Advisors, Inc.

ALPS Advisors, Inc.

July 19, 2011 09:18 ET

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

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

                         June 2011 Monthly Update

Performance                       NAV          Market Price        Discount
-----------                      -----         ------------        --------
  Beginning of month value       $4.88             $4.48             8.2%
  Distributions                     -                 -
  End of month value             $4.81             $4.44             7.7%
  Performance for month         -1.43%            -0.89%
  Performance year-to-date       8.34%             7.89%

  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                          $144.6
  Equities                       $141.9
  Percent Invested in Equities    98.1%
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Top 20 Holdings at Month-End (33.4% of equity portfolio)
-------------------------------------------------------
  (Rank from previous month)

1  Salesforce.com, Inc.(1)          2.3% 11 ARM Holdings PLC (9)       1.6%
2  C.H. Robinson Worldwide, Inc.(2) 2.3% 12 ACE Ltd. (12)              1.5%
3  Apple, Inc. (3)                  2.0% 13 Expeditors International
4  QUALCOMM, Inc. (4)               1.9%     of Washington, Inc. (14)  1.5%
5  Core Laboratories N.V. (6)       1.8% 14 Oceaneering
6  Intuitive Surgical, Inc. (7)     1.8%     International, Inc.(15)   1.5%
7  Green Mountain Coffee                 15 Rockwell
    Roasters, Inc. (10)             1.7%     Automation, Inc.(18)      1.5%
8  FMC Technologies, Inc. (8)       1.7% 16 Rue21, Inc. (13)           1.5%
9  IHS, Inc., Class A (5)           1.7% 17 Google, Inc., Class A (17) 1.4%
10 Baidu, Inc. (11)                 1.7% 18 American Tower Corp.,
                                             Class A(16)               1.4%
                                         19 LKQ Corp. (20)             1.3%
                                         20 Signature Bank (21)        1.3%

   Holdings are subject to change
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Sector Breakdown (% of equity portfolio) *
---------------------------------------
       Information Technology      26.9%    New Holdings
       Industrials                 16.6%    ------------
       Health Care                 15.8%    Allegheny Technologies, Inc.
       Consumer Discretionary      12.9%    Expedia, Inc.
       Financials                  10.3%    Fusion-io, Inc.
       Energy                       9.5%    Pharmasset, Inc.
       Consumer Staples             3.4%    Universal Display Corp.
       Materials                    2.5%    Urban Outfitters, Inc.
       Telecommunication Services   1.4%
       Utilities                    0.7%    Holdings Liquidated
                                  ------    -------------------
                                  100.0%    Alliance Data Systems Corp.
                                  ======    CVS Caremark Corp.
                                            E-Commerce China Dangdang, Inc.

* 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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