SOURCE: ALPS Advisors, Inc.

ALPS Advisors, Inc.

April 19, 2011 11:19 ET

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

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

                          March 2011 Monthly Update


Performance                            NAV        Market Price    Discount
---------------------------           -----       ------------    --------
   Beginning of month value           $4.74           $4.43          6.5%
   Distributions                        -               -
   End of month value                 $4.86           $4.61          5.1%
   Performance for month              2.53%           4.06%
   Performance year-to-date           7.92%          10.22%

   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                             $146.1
   Equities                          $143.2
   Percent Invested in Equities       98.0%
---------------------------------------------------------------------------

Top 20 Holdings at Month-End (32.4% of equity portfolio)
-------------------------------------------------------
   (Rank from previous month)

 1 Apple, Inc. (1)                  2.1% 11 Baidu, Inc. (17)           1.6%
 2 C.H. Robinson Worldwide, Inc.(2) 2.1% 12 VeriFone Systems, Inc.(13) 1.5%
 3 Salesforce.com, Inc. (3)         2.1% 13 Expeditors International
 4 Rockwell Automation, Inc. (5)    1.9%     of Washington, Inc. (12)  1.5%
 5 QUALCOMM, Inc. (4)               1.8% 14 Google, Inc., Class A(11)  1.5%
 6 Intuitive Surgical, Inc. (8)     1.7% 15 ACE Ltd. (14)              1.4%
 7 Core Laboratories N.V. (6)       1.7% 16 ARM Holdings PLC (23)      1.4%
 8 Oceaneering                           17 Resources
    International, Inc. (10)        1.7%     Connection, Inc.(16)      1.3%
 9 FMC Technologies, Inc. (7)       1.6% 18 Rue21, Inc. (9)            1.3%
10 IHS, Inc., Class A (15)          1.6% 19 Schlumberger Ltd. (18)     1.3%
                                         20 LKQ Corp. (19)             1.3%

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

Sector Breakdown (% of equity portfolio) *
------------------------------------------
   Information Technology      26.6%        New Holdings
   Industrials                 17.7%        -----------------------
   Health Care                 14.6%        F5 Networks, Inc.
   Consumer Discretionary      12.2%        InterDigital, Inc.
   Financials                  11.3%
   Energy                      10.4%        Holdings Liquidated
   Consumer Staples             3.2%        -----------------------
   Materials                    2.1%        Akamai Technologies, Inc.
   Telecommunication Services   1.2%        Cisco Systems, Inc.
   Utilities                    0.7%
                              ------
                              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.

Contact Information