Optically active states in liquid phase epitaxy-grown ultra-dilute GaAsN are studied. The feature-rich low temperature photoluminescence spectrum has contributions from excitonic band states of the GaAsN alloy, and two types of defect states-localized and extended. The degree of delocalization for extended states both within the conduction and defect bands, characterized by the electron temperature, is found to be similar. The degree of localization in the defect band is analyzed by the strength of the phonon replicas. Stronger emission from these localized states is attributed to their giant oscillator strength. V