BOSTON, MA -- (Marketwire) -- 03/15/13 -- Below is the February 2013 Monthly Update for the Liberty All-Star® Growth Fund, Inc. (NYSE: ASG)

Liberty All-Star Growth Fund                                  Monthly Update
  Ticker: ASG                                                 February, 2013

Monthly Performance
Performance                                     NAV    Market Price Discount
------------------------------------------- ---------- ------------ --------
  Beginning of month value                     $4.69       $4.26      9.2%
  Distributions                                  -           -
  End of month value                           $4.73       $4.32      8.7%
  Performance for month                        0.85%       1.41%
  Performance year-to-date                     5.90%       8.15%
Returns calculated assuming distributions reinvested. Past performance
 cannot predict future results


Net Assets at Month-End ($millions)
  Total                                       $108.6
  Equities                                    $106.6
  Percent Invested                             98.2%

Top 20 Holdings at Month-End
    (34.2% of equity portfolio)
                (Rank from previous month)
  1 ACE Ltd. (1)                                      2.4%
  2 Apple, Inc. (2)                                   2.1%
  3 ARM Holdings PLC (3)                              2.0%
  4 Salesforce.com, Inc. (4)                          2.0%
  5 QUALCOMM, Inc. (5)                                1.9%
  6 Fastenal Co. (8)                                  1.9%
  7 LinkedIn Corp., Class A (15)                      1.9%
  8 Core Laboratories N.V. (9)                        1.9%
  9 Oceaneering International, Inc. (10)              1.8%
 10 BioMarin Pharmaceutical, Inc. (6)                 1.8%
 11 Cerner Corp. (11)                                 1.8%
 12 American Tower Corp., Class A (12)                1.7%
 13 Intuitive Surgical, Inc. (7)                      1.6%
 14 Signature Bank (13)                               1.5%
 15 Google, Inc., Class A (16)                        1.5%
 16 Under Armour, Inc., Class A (18)                  1.4%
 17 Allergan, Inc. (17)                               1.4%
 18 Visa, Inc., Class A (21)                          1.2%
 19 LKQ Corp. (19)                                    1.2%
 20 Schlumberger Ltd. (22)                            1.2%
    Holdings are subject to change.

Sector Breakdown (% of equity portfolio)*
  Information Technology                  30.6%
  Industrials                             16.0%
  Consumer Discretionary                  14.0%
  Health Care                             11.9%
  Financials                              10.9%
  Energy                                  7.8%
  Consumer Staples                        4.6%
  Materials                               2.5%
  Telecommunication Services              1.7%
Total Market Value                        100.0%

*Based on Standard & Poor's and MSCI Barra Global Industry Classification
Standard (GICS).

New Holdings                              Holdings Liquidated
  Zoetis Inc.                               Accuray Inc.
                                            ARC Document Solutions, Inc.
                                            II-VI, Inc.