SOURCE: ALPS Advisors, Inc.

ALPS Advisors, Inc.

October 15, 2010 17:38 ET

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

BOSTON, MA--(Marketwire - October 15, 2010) - Below is the September 2010 Monthly Update for the Liberty All-Star® Growth Fund, Inc. (NYSE: ASG)


                      September 2010 Monthly Update


Performance                         NAV       Market Price    Discount
-----------                     ------------  ------------  ------------
  Beginning of month value         $3.73          $3.49          6.4%
  Distributions                        -              -
  End of month value               $4.18          $3.81          8.9%
  Performance for month           12.06%          9.17%
  Performance year-to-date         9.43%         18.95%

  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                           $125.7
  Equities                        $122.2
  Percent Invested in Equities     97.2%

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Top 20 Holdings at Month-End (31.2% of equity portfolio)
--------------------------------------------------------
  (Rank from previous month)

  1 C.H. Robinson Worldwide,         11 Masimo Corp. (13)              1.4%
     Inc. (2)                  2.5%  12 MSCI, Inc. (11)                1.3%
  2 Salesforce.com, Inc. (1)   2.3%  13 VeriFone Systems, Inc. (18)    1.3%
  3 Apple, Inc. (3)            2.1%  14 Amazon.com, Inc. (19)          1.3%
  4 Rockwell Automation,             15 Varian Medical Systems,
     Inc. (5)                  2.0%      Inc. (15)                     1.2%
  5 Core Laboratories N.V. (4) 1.8%  16 Cognizant Technology
  6 QUALCOMM, Inc. (6)         1.8%      Solutions Corp., Class A (16) 1.2%
  7 Expeditors International         17 VMware, Inc. (14)              1.2%
     of Washington, Inc. (7)   1.7%  18 LKQ Corp. (17)                 1.2%
  8 Google, Inc., Class A (9)  1.6%  19 Capella Education Co. (28)     1.2%
  9 Intuitive Surgical,              20 IHS, Inc. (20)                 1.1%
     Inc. (8)                  1.5%
 10 ACE Ltd. (10)              1.5%

    Holdings are subject to change

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Sector Breakdown (% of equity portfolio)*
-----------------------------------------
  Information Technology       25.8%    New Holdings
  Industrials                  19.4%    ------------
  Health Care                  18.7%    Ironwood Pharmaceuticals, Inc.
  Financials                   11.5%    Mead Johnson Nutrition Co.
  Consumer Discretionary        9.6%
  Energy                        8.9%
  Consumer Staples              2.5%
  Materials                     1.8%
  Telecommunication Services    1.1%
  Utilities                     0.7%    Holdings Liquidated
                              ------    -------------------
                              100.0%    Hibbett Sports, Inc.
                                        Internet Brands, 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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