Fund Performance as of June 30, 2008

YTD*
1 Year
3 Years
5 Years
10 Years
NAV Return
(10.8)%
(3.7)%
6.4%
7.4%
0.6%
NAV Reinvested Return
(10.6)%
(3.3)%
6.8%
7.6%
1.1%
Market Price Return
(17.3)%
(8.8)%
3.0%
4.0%
1.1%
Lipper Multi-Cap Growth Average
(10.8)%
(6.8)%
7.1%
9.5%
4.0%
*Cumulative Total Return

Formerly the Charles Allmon Trust, Inc., effective in November 1995, the Fund was renamed the Liberty All-Star Growth Fund, Inc. and ALPS Advisers, Inc. assumed management of the Fund.

Returns for the Fund and the Lipper Multi-Cap Growth Average are total returns, which include dividends, after deducting fund expenses. The Fund's performance is calculated assuming that a shareholder exercised all primary rights in the Fund's rights offerings.

Past performance cannot predict future results. Performance will fluctuate with changes in market conditions. Current performance may be lower or higher than the performance data shown. Performance information shown does not reflect the deduction of taxes that shareholders would pay on Fund distributions or the sale of Fund shares. An investment in the Fund involves risk, including loss of principal.

An investment in the Fund involves risk, including possible loss of principal. This investment may not be suitable for all investors. ©2008 Liberty All-Star Funds. All rights reserved.