Liberty Allstar Equity Fund (USA)

[MAILMAN1A]

Liberty All-Star Equity Fund Releases Tax Information
January 09, 2004 09:43:00 (ET)
BOSTON, Jan 9, 2004 (BUSINESS WIRE) -- Liberty All-Star Equity Fund announces the final tax status for its 2003 distributions as follows:
Total Ordinary Long-
Amount Dividends term Return Payable per Non- Capital of
Record Date Date Share Qualified Qualified Gains Capital
(a) 11/15/02 01/02/03 $0.19 9.07% - 32.42% 58.51%
02/28/03 03/17/03 $0.17 9.07% - 32.42% 58.51%
05/16/03 06/30/03 $0.19 9.07% - 32.42% 58.51%
08/15/03 10/06/03 $0.20 9.07% - 32.42% 58.51%
(b) 11/14/03 01/02/04 $0.22 - - - - 100% of the Long-term Capital Gains distributions are from Post-May 5 Capital Gains. (a) Pursuant to Section 852 of the Internal Revenue Code, the taxability of this distribution will be reported in the Form 1099-DIV for 2003. (b) Pursuant to Section 852 of the Internal Revenue Code, the taxability of this distribution will be reported in the Form 1099-DIV for 2004.
The tax designations of the distributions were previously reported to shareholders on a tentative book basis. The final tax designations are based upon tax reporting requirements and should be used by shareholders for tax return preparation.
Liberty Asset Management Company is the fund manager of the All-Star Equity Fund, a multi-managed, closed-end investment company with more than $1.1 billion in net assets. The Fund's shares are listed on the New York Stock Exchange under the symbol USA.
SOURCE: Liberty Asset Management Company
Liberty Asset Management Company Mark Haley, 617-772-3626 www.all-starfunds.com