Contact Information: For Information Contact: Liberty All-Star Equity Fund 1-800-241-1850 www.all-starfunds.com
Liberty All-Star(R) Equity Fund Declares Distribution
| Quelle: ALPS Advisors, Inc.
BOSTON, MA--(Marketwire - April 27, 2009) - The Board of Trustees of Liberty All-Star Equity
Fund (NYSE : USA ) has declared a distribution of $0.06 per share payable on
June 22, 2009 to shareholders of record on May 8, 2009 (ex-dividend date of
May 6, 2009). This distribution reflects the Board of Trustees decision
to change the Fund's distribution policy from an annual rate of
approximately 10 percent (2.5 percent quarterly) of net asset value to
approximately 6 percent (1.5 percent quarterly). The change was adopted
primarily to better align the Fund's distribution rate with historical
equity market returns.
A portion of the distribution may be treated as paid from sources other
than net income, including but not limited to short-term capital gain,
long-term capital gain and return of capital. The final determination of
the source of all distributions in 2009, including the percentage of
qualified dividend income, will be made after year-end.
The distribution will be paid in newly issued shares to all shareholders
except those who are not participating in Liberty All-Star Equity Fund's
Dividend Reinvestment Plan and who elect to receive the distribution in
cash. Shares will be issued at the lower of the June 5, 2009 net asset
value per share or market value per share (but not less than 95% of market
value). The market value of the Fund's shares for this purpose will be the
last sales price on the New York Stock Exchange.
ALPS Advisors, Inc. is the fund manager of the Liberty All-Star Equity
Fund, a multi-managed, closed-end investment company with more than $759
million in net assets. The Fund's shares are listed on the New York Stock
Exchange under the symbol USA.
The Liberty All-Star Equity Fund is a closed-end fund and does not
continuously offer shares. The Fund 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. Forward-looking statements are based on information
that is available on the date hereof, and neither the fund manager nor any
other person affiliated with the fund manager has any duty to update any
forward-looking statements. Important factors that could affect actual
results to differ from these statements include, among other factors,
material, negative changes to the asset class and the actual composition of
the portfolio.