Board of Directors of Alliance National Municipal Income Fund, Inc. Approves the Issuance of the Fund's Common Stock in Connecti

NEW YORK, Nov. 20  /PRNewswire-FirstCall/ -- The Board of Directors of Alliance National Municipal Income Fund, Inc. (NYSE: AFB; "Alliance National Municipal") has approved the issuance of the Fund's common stock for exchange in the acquisition of the assets and the assumption of the liabilities of ACM Municipal Securities Income Fund, Inc. (NYSE: AMU "ACM Municipal Securities") by Alliance National Municipal (the "Acquisition"). The issuance of Alliance National Municipal common stock for exchange in the Acquisition requires stockholder approval. Under the rules of the New York Stock Exchange, on which Alliance National Municipal is listed, stockholder approval is required prior to the issuance of common stock if a transaction would result in an increase of 20% or more of the amount of the fund's outstanding shares. The Acquisition would require Alliance National Municipal to increase the number of its outstanding shares by more than 20%.

A Special Meeting of Stockholders of Alliance National Municipal is scheduled to be held on Thursday, February 22, 2007. The close of business on December 15, 2006 has been fixed as the record date for the Special Meeting of Stockholders. The Acquisition will not occur if stockholders of Alliance National Municipal do not approve the issuance of shares of the Fund's common stock. If stockholders of Alliance National Municipal approve the issuance of the Fund's common stock for exchange in the Acquisition, the Acquisition, if approved by stockholders of ACM Municipal Securities, is expected to take place in mid-2007.

ACM Municipal Securities and Alliance National Municipal are diversified, closed-end U.S.-registered management investment companies. Both Funds are advised by AllianceBernstein L.P. 

DATASOURCE: Alliance National Municipal Income Fund, Inc.



CONTACT:  Shareholder, [phone], for Alliance National Municipal

Income Fund, Inc.



Web site:  http://www.alliancebernstein.com/ 

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