BOSTON, MA--(Marketwire - Nov 16, 2011) - Below is the October 2011 Monthly Update for the Liberty All-Star® Growth Fund, Inc. (NYSE: [ ASG ])

 Liberty All-Star Growth Fund Monthly Update Ticker: ASG October 2011 Monthly Performance Performance NAV Market Price Discount --- ------------ -------- Beginning of month value $3.95 $3.60 8.9% Distributions - - End of month value $4.41 $3.94 10.7% Performance for month 11.65% 9.44% Performance year-to-date 0.69% -2.85% Past performance cannot predict future results Net Assets at Month-End ($millions) Total $132.6 Equities $130.3 Percent Invested 98.3% Top 20 Holdings at Month-End (35.1% of equity portfolio) (Rank from previous month) 1 Apple, Inc. (1) 2.4% 2 Salesforce.com, Inc. (3) 2.2% 3 C.H. Robinson Worldwide, Inc. (2) 2.2% 4 ACE Ltd. (5) 2.1% 5 IHS, Inc., Class A (6) 1.9% 6 QUALCOMM, Inc. (4) 1.8% 7 Intuitive Surgical, Inc. (10) 1.8% 8 Core Laboratories N.V. (13) 1.8% 9 FMC Technologies, Inc. (12) 1.8% 10 ARM Holdings PLC (8) 1.7% 11 Baidu, Inc. (18) 1.7% 12 Oceaneering International, Inc. (15) 1.7% 13 American Tower Corp., Class A (7) 1.6% 14 Google, Inc., Class A (16) 1.6% 15 Expeditors International of Washington, Inc. (14) 1.6% 16 VMware, Inc., Class A (19) 1.5% 17 LKQ Corp. (20) 1.5% 18 BioMarin Pharmaceutical, Inc. (17) 1.4% 19 Cerner Corp. (9) 1.4% 20 Rockwell Automation, Inc. (22) 1.4% Holdings are subject to change. Sector Breakdown (% of equity portfolio)* Information Technology 29.4% Industrials 15.9% Health Care 13.6% Consumer Discretionary 13.2% Energy 10.1% Financials 9.7% Consumer Staples 2.9% Materials 2.9% Telecommunication Services 1.6% Utilities 0.7% 100.0% *Based on Standard & Poor's and MSCI Barra Global Industry Classification Standard (GICS). New Holdings Holdings Liquidated Arcos Dorados Holdings, Inc. Capella Education Co. comScore, Inc. Stericycle, Inc. Urban Outfitters, Inc.