Mazama Large Cap Growth Selected For All-Star Lineup

PORTLAND, Oregon, December 21 - Mazama Capital Management, Inc. (R) announced today that the firm has
been selected as a large cap growth investment manager for the Liberty
All-Star(R) Growth Fund, Inc. (NYSE: ASG), joining two other advisers in the
fund's multi-manager lineup.

The fund will employ the Mazama Focused Large Cap Growth strategy managed
by the firm's team of ten equity research specialists. Mazama's founder and
chief investment officer Ronald A. Sauer, along with portfolio managers Joel
Rubenstein and Gretchen Novak, will serve as portfolio managers for the
portion of the All-Star Growth Fund managed by Mazama. The Mazama Focused
Large Cap Growth strategy is a traditional, long-only growth stock investment
style that utilizes Mazama's bottom-up fundamental research process and its
proprietary Price Performance Model to identify and track the top growth
companies in the US equity universe.

ALPS Advisors, Inc. is the fund manager of the All-Star Growth Fund, a
multi-managed, closed-end investment company with shares listed on the New
York Stock Exchange under the symbol ASG. Investors wishing to buy or sell
shares need to place orders through an intermediary or broker. The share
price of a closed-end fund is based on the market's value.

Mazama Capital Management, Inc. is an independent institutional money
management firm specializing in growth equity investing. The firm has offices
in Portland, Oregon and New York, New York and manages assets exclusively for
large institutional clients.

Derek Ebel, Vice President of Mazama Capital Management, Inc., +1-503-944-6248, ebel at mazamacap.com