Liberty All-Star® Growth Fund, Inc. Announces Rights Offering

BOSTON, Dec. 9, 2019 /PRNewswire/ -- The Board of Directors (the "Board") of Liberty All-Star^® Growth Fund, Inc. (NYSE: ASG) (the "Fund") has authorized and set the terms of an offering to the Fund's shareholders of rights to purchase additional shares of the Fund. 

Shareholders on a record date to be established by the Fund's Board would be issued non-transferable rights entitling them to subscribe for one additional share for every five shares held (the "Primary Subscription"), with the right to subscribe for additional shares not subscribed for by others in the Primary Subscription. If such over-subscription requests exceed the number of shares available, the Fund may, in its sole discretion, elect to issue additional shares in an amount of up to 25% of the shares issued in the Primary Subscription.

The subscription price per share will be 95 percent of the reported net asset value or market price per share, whichever is lower on the expiration date. Market price per share will be determined based on the average of last reported sales prices of a share on the New York Stock Exchange on the expiration date and the four trading days preceding the expiration date. The offering is subject to the effectiveness of the Fund's Registration Statement to be filed with the Securities and Exchange Commission ("SEC") and will be made only by means of a prospectus.

A Registration Statement relating to the securities has not been filed with the SEC as of the date of this release. These securities may not be sold nor may offers to purchase be accepted prior to the time the Registration Statement becomes effective with the SEC.

This press release shall not constitute an offer to sell or constitute a solicitation of an offer to buy.  Investors should read the prospectus, when available, and consider the investment objective, risks, charges and expenses of the Fund carefully before investing. To obtain an annual report or semi-annual report which contains this and other information, visit www.all-starfunds.com or call 1-800-241-1850. Read them carefully before investing.

The Fund does not continuously issue shares and trades in the secondary market.  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. The Fund's shares are listed on the New York Stock Exchange under the ticker symbol ASG. ALPS Advisors, Inc. is the investment advisor of the Fund, a multi-managed, closed-end investment company with more than $228 million in net assets as of December 5, 2019.

Past performance cannot predict future results.
An investment in the Fund involves risk, including loss of principal.
Secondary market support provided to the Fund by ALPS Fund Services, Inc.'s affiliate ALPS Portfolio Solutions Distributor, Inc., a FINRA Member. ALPS Fund Services, Inc., ALPS Advisors, Inc. and ALPS Portfolio Solutions Distributor, Inc. are affiliated entities.

LAS000958

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

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SOURCE Liberty All-Star Growth Fund, Inc.