Bulldog Investors Announces Results of Special Meeting of Stockholders of Alliance California Municipal Income Fund

Bulldog Investors, LLC (“Bulldog”) today announced that at a special meeting of stockholders of Alliance California Municipal Income Fund, Inc. (NYSE:AKP) (the “Fund”) convened on October 11, 2018, a quorum was present and a proposal to enter into new investment advisory agreements with AllianceBernstein L.P. was not approved.

Phillip Goldstein, a principal of Bulldog, commented: “Management has purported to adjourn the meeting ‘to allow additional time for the solicitation of proxies.’ We do not think it is appropriate to spend stockholder money on a futile attempt to change the outcome.”

About Bulldog Investors

Bulldog Investors is an SEC-registered investment adviser that manages the Bulldog Investors group of private funds, Special Opportunities Fund, Inc. (NYSE:SPE), a registered closed-end investment company, and separately managed accounts. Bulldog holds approximately 12.4% of the outstanding common stock of the Fund.

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InvestorComJohn Glenn Grau, [phone] ext. [e-mail]