BOSTON, MA--(MARKET WIRE)--Apr 14, 2008 -- Below is the March 2008 Monthly Update for the Liberty All-Star® Growth Fund, Inc. (NYSE:ASG - News)

 
                        March 2008 Monthly Update
                                                  Premium /
Performance                             NAV      Market Price   (Discount)
-----------                           -----     ------------   ----------
        Beginning of month value      $5.14         $4.99         (2.9%)
        Distributions                     -             -
        End of month value            $5.10         $4.72         (7.5%)
        Performance for month         (0.8%)        (5.4%)
        Performance year-to-date     (13.3%)       (18.7%)

        For daily data visit the Fund's website at http://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.
------------------------------------------------------------------------
Net Assets at Month-End ($millions)
----------------------------------
        Total                                                     $146.7
        Equities                                                  $144.7
        Percent Invested in Equities                                98.6%
------------------------------------------------------------------------
Top 20 Holdings at Month-End (27.6% of equity portfolio)
-------------------------------------------------------
 (Rank from previous month)

1  Core Laboratories (1)         1.7%   11 Smith International (12)  1.3%
2  McDonald's (6)                1.6%   12 Colgate-Palmolive (14)    1.3%
3  ANSYS (2)                     1.6%   13 IBM (New)                 1.3%
4  Genzyme (7)                   1.6%   14 Wal-Mart (New)            1.3%
5  Potash (3)                    1.5%   15 AFLAC (17)                1.2%
6  Deere (4)                     1.5%   16 Resources Connection (21) 1.2%
7  Coca-Cola (9)                 1.5%   17 Lockheed Martin (13)      1.2%
8  Affiliated Managers Group (5) 1.5%   18 Johnson & Johnson (19)    1.2%
9  Research In Motion (11)       1.4%   19 Genentech (New)           1.2%
10 FMC Technologies (10)         1.3%   20 Baxter International (18) 1.2%

        Holdings are subject to change
--------------------------------------------------------------
     Sector Breakdown (% of equity portfolio)*    New Holdings
     ---------------------------------------      ------------
        Industrials                21.3%          Genentech
        Health Care                18.5%          IBM
        Information Technology     16.7%          Mylan
        Energy                     12.3%          NIKE
        Consumer Discretionary     10.7%          Wal-Mart
        Financials                  8.0%
        Consumer Staples            6.4%
        Telecommunication Services  3.1%
        Materials                   3.0%
                                  ------
                                  100.0%
                                                  Holdings Liquidated
                                                  -------------------
                                                  Aetna
                                                  K12
                                                  Medco Health Solutions
                                                  Procter & Gamble
                                                  Stryker
                                                  Take-Two Interactive
                                                   Software


* Based on Standard & Poor's and Morgan Stanley Capital International
  Global Industry Classification Standard (GICS).

  The Liberty All-Star Growth Fund, Inc. is a closed-end fund and does not
  continuously offer shares.

     For Information Contact:
     Liberty All-Star® Growth Fund
     1-800-241-1850
     http://www.all-starfunds.com