SOURCE: ALPS Advisors, Inc.

ALPS Advisors, Inc.

December 14, 2010 13:04 ET

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

BOSTON, MA--(Marketwire - December 14, 2010) - Below is the November 2010 Monthly Update for the Liberty All-Star® Growth Fund, Inc. (NYSE: ASG)

                       November 2010 Monthly Update

Performance                        NAV         Market Price       Discount
                                  -----        ------------       --------
  Beginning of month value        $4.30            $3.98            7.4%
  Distributions                     -                -
  End of month value              $4.39            $4.03            8.2%
  Performance for month            2.09%            1.26%
  Performance year-to-date        14.93%           25.82%

  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                          $132.1
  Equities                       $128.7
  Percent Invested in Equities     97.4%
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Top 20 Holdings at Month-End (32.6% of equity portfolio)
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   (Rank from previous month)

 1 Salesforce.com, Inc. (2)      2.4% 11 Intuitive Surgical, Inc. (11) 1.5%
 2 C.H. Robinson                      12 Oceaneering
    Worldwide, Inc. (1)          2.4%     International, Inc. (30)     1.5%
 3 Apple, Inc. (3)               2.2% 13 ACE Ltd. (10)                 1.5%
 4 Rockwell Automation, Inc. (4) 2.0% 14 IHS, Inc., Class A (12)       1.4%
 5 Expeditors International of        15 Amazon.com, Inc. (15)         1.4%
    Washington, Inc. (6)         1.8% 16 Resources
 6 QUALCOMM, Inc. (7)            1.7%     Connection, Inc. (14)        1.4%
 7 Core Laboratories N.V. (8)    1.7% 17 Masimo Corp. (9)              1.3%
 8 Google, Inc., Class A (5)     1.6% 18 MSCI, Inc., Class A (13)      1.3%
 9 Rue21, Inc. (16)              1.5% 19 VeriFone Systems, Inc. (17)   1.3%
10 FMC Technologies, Inc. (31)   1.5% 20 LKQ Corp. (18)                1.2%

   Holdings are subject to change
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Sector Breakdown (% of equity portfolio) *
---------------------------------------
   Information Technology       26.1%    New Holdings
   Industrials                  18.1%    ------------
   Health Care                  16.2%    Harman International
   Consumer Discretionary       11.8%     Industries, Inc.
   Financials                   11.7%    Monro Muffler Brake, Inc.
   Energy                        9.7%    Precision Castparts Corp.
   Consumer Staples              3.2%    Xueda Education Group
   Materials                     1.6%
   Telecommunication Services    1.0%
   Utilities                     0.6%
                               -----
                               100.0%    Holdings Liquidated
                               =====     -------------------
                                         Accretive Health, Inc.
                                         Amylin Pharmaceuticals, Inc.
                                         Beacon Roofing Supply, Inc.
                                         Charles River Laboratories
                                          International, Inc.
                                         Flowserve Corp.
                                         NuVasive, Inc.
                                         Quanta Services, Inc.
                                         Spirit AeroSystems
                                          Holdings, Inc., Class A
                                         Thoratec Corp.
                                         Venoco, 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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