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A description of the Fund's proxy voting policies and procedures is available (i) on the Securities and Exchange Commission's website at www.sec.gov and (ii) without charge, upon request, by calling 1.800.542.3863. Information regarding how the Fund voted proxies relating to portfolio securities during the 12-month period ended June 30, 2005 is available from the SEC's website at www.sec.gov.
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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.