Liberty All-Star(R) Equity Fund January 2013 Monthly Update

BOSTON, MA--(Marketwire - Feb 15, 2013) - Below is the January 2013 Monthly Update for the Liberty All-Star® Equity Fund. (NYSE: USA)

Liberty All-Star Equity Fund		Monthly Update
	Ticker: USA	January, 2013

Monthly Performance
Performance			NAV		Market Price		Discount
	Beginning of month value		$5.35		$4.77		10.8%
	Distributions (Ex-Date January 23)		$0.08		$0.08
	End of month value		$5.61		$4.98		11.2%
	Performance for month		6.36%		6.08%
	Performance year-to-date		6.36%		6.08%
Past performance cannot predict future results
Net Assets at Month-End ($millions)
	Total		$1,039.8
	Equities		$1,031.9
	Percent Invested		99.2%

Top 20 Holdings at Month-End
		(31.2% of equity portfolio)
		(Rank from previous month)
1		Apple, Inc. (1)	3.0%
2		JPMorgan Chase & Co. (2)	2.6%
3		QUALCOMM, Inc. (3)	2.3%
4		Schlumberger Ltd. (4)	1.9%
5		Citigroup, Inc. (5)	1.8%
6		ACE Ltd. (6)	1.7%
7		Google, Inc., Class A (7)	1.6%
8		State Street Corp. (9)	1.6%
9		SunTrust Banks, Inc. (8)	1.4%
10		TE Connectivity Ltd. (10)	1.3%
11		MetLife, Inc. (12)	1.3%
12		The Allstate Corp. (13)	1.3%
13		Visa, Inc., Class A (11)	1.3%
14		Devon Energy Corp. (14)	1.2%
15		Toll Brothers, Inc. (16)	1.2%
16		Dell, Inc. (28)	1.2%
17		Microsoft Corp. (17)	1.2%
18		Chesapeake Energy Corp. (26)	1.1%
19		NVR, Inc. (18)	1.1%
20		The Charles Schwab Corp. (27)	1.1%
		Holdings are subject to change.

Sector Breakdown (% of equity portfolio)*
	Financials	23.9%
	Information Technology	21.2%
	Energy	15.3%
	Consumer Discretionary	12.6%
	Health Care	9.0%
	Industrials	7.3%
	Consumer Staples	5.7%
	Materials	2.5%
	Telecommunication Services	1.5%
	Utilities	1.0%
Total Market Value		100.0%
*Based on Standard & Poor's and MSCI Barra Global Industry Classification Standard (GICS).
New Holdings		Holdings Liquidated
	Ralph Lauren Corp.		KB Home
	The TJX Companies, Inc.		VF Corp.