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LIBERTY ALL-STAR ANNOUNCES RIGHTS OFFERING

 BOSTON, June 23 /PRNewswire/ -- The trustees of Liberty ALL-STAR Equity Fund (NYSE: USA) have authorized and set the terms of an offering to its shareholders of rights to purchase additional shares of the Fund.
 Shareholders will be issued non-transferable rights entitling them to subscribe for one additional share for every 15 shares held, with the right to subscribe for additional shares not subscribed for by others on primary subscription. The subscription price will be 95 percent of the lower of the closing price or net asset value on the business day following the expiration of the subscription period.
 The rights offering is subject to the effectiveness of the Fund's Registration statement with the Securities and Exchange Commission and will be made only by means of a Prospectus. Subject to the Registration Statement's effectiveness, it is anticipated that the offering will commence in September and will continue for approximately 30 days. Further details will be provided at a later date.
 Liberty ALL-STAR Equity Fund is a multi-managed, closed-end investment company. Its shares are listed on the New York Stock Exchange under the symbol USA.
 -0- 6/23/93
 /CONTACT: William Rice of Liberty ALL-STAR Equity Fund, 617-722-0897/
 (USA)


CO: Liberty ALL-STAR Equity Fund ST: Massachusetts IN: FIN SU: OFR

DJ -- NE006 -- 4941 06/23/93 10:40 EDT
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Publication:PR Newswire
Date:Jun 23, 1993
Words:217
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