SOURCE: ALPS Advisors, Inc.

ALPS Advisors, Inc.

November 12, 2010 15:29 ET

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

BOSTON, MA--(Marketwire - November 12, 2010) - Below is the October 2010 Monthly Update for the Liberty All-Star® Growth Fund, Inc. (NYSE: ASG)

                        October 2010 Monthly Update

                                                 Market
Performance                          NAV         Price        Discount
-----------                     ------------  ------------  ------------
  Beginning of month value         $4.18         $3.81          8.9%
  Distributions                      -             -
  End of month value               $4.30         $3.98          7.4%
  Performance for month             2.87%        4.46%
  Performance year-to-date         12.57%       24.26%

  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                           $129.4
  Equities                        $127.2
  Percent Invested in Equities     98.3%

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Top 20 Holdings at Month-End (31.1% of equity portfolio)
--------------------------------------------------------
 (Rank from previous month)
  1 C.H. Robinson Worldwide,          11 Intuitive Surgical, Inc. (9)  1.4%
     Inc. (1)                    2.3%
  2 Salesforce.com, Inc. (2)     2.3% 12 IHS, Inc., Class A (20)       1.4%
  3 Apple, Inc. (3)              2.1% 13 MSCI, Inc., Class A (12)      1.4%
  4 Rockwell Automation,              14 Resources Connection,
     Inc. (4)                    1.9%      Inc. (22)                   1.3%
  5 Google, Inc., Class A (8)    1.8% 15 Amazon.com, Inc. (14)         1.3%
  6 Expeditors International          16 Rue21, Inc. (37)              1.3%
     of Washington, Inc. (7)     1.7%
  7 QUALCOMM, Inc. (6)           1.7% 17 VeriFone Systems, Inc. (13)   1.3%
  8 Core Laboratories N.V. (5)   1.5% 18 LKQ Corp. (18)                1.2%
  9 Masimo Corp. (11)            1.5% 19 Cognizant Technology Solutions
                                          Corp., Class A (16)          1.2%
 10 ACE Ltd. (10)                1.4% 20 Varian Medical
                                          Systems, Inc. (15)           1.1%


Holdings are subject to change


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Sector Breakdown (% of equity portfolio)*
-----------------------------------------

  Information Technology    26.1%    New Holdings
                                     --------------
  Industrials                19.2%   athenahealth, Inc.
  Health Care                18.0%   Brigham Exploration Co.
  Financials                 11.7%   Gildan Activewear, Inc.
  Consumer Discretionary     10.1%   Global Education & Technology
  Energy                      8.8%    Group Ltd.
  Consumer Staples            2.8%   Green Mountain Coffee Roasters, Inc.
  Materials                   1.6%   QLIK Technologies, Inc.
  Telecommunication Services  1.0%   Under Armour, Inc.
  Utilities                   0.7%
                            -----
                            100.0%
                            =====

                                     Holdings Liquidated
                                     -------------------
                                     Acorda Therapeutics, Inc.
                                     Aixtron AG
                                     CARBO Ceramics, Inc.
                                     Clean Harbors, Inc.
                                     Northwest Bancshares, 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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