Alliance All-Market Advantage Fund, Inc. Reports First Quarter Earnings

NEW YORK, March 1  /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. (NYSE:AMO), a registered closed-end investment company, today announced earnings for the first quarter ended December 31, 2006.

Total net assets of the Fund on December 31, 2006 were $48,397,899, as compared with $47,369,363 on September 30, 2006 and $53,644,516 on December 31, 2005.  On December 31, 2006 the net asset value per share was $13.10 based on 3,694,683 shares outstanding.

                December 31, 2006   September 30, 2006    December 31, 2005

  Total Net Assets    $48,397,899          $47,369,363          $53,644,516
  NAV Per Share            $13.10               $12.83               $14.57
  Shares Outstanding    3,694,683            3,691,364            3,682,953




For the period October 1, 2006 through December 31, 2006, total net operating loss was $146,166 or $0.04 per share.  The total net realized and unrealized gain was $2,311,830 or $0.63 per share for the same period.

                       First Quarter      Fourth Quarter      First Quarter
                               Ended               Ended              Ended
                   December 31, 2006  September 30, 2006  December 31, 2005

  Total Net Investment
   Income (Loss)           ($146,166)          ($132,751)         ($232,222)
  Per Share                   ($0.04)             ($0.04)            ($0.06)

  Total Net Realized/
   Unrealized Gain/(Loss) $2,311,830          $1,093,583         $3,390,780
  Per Share                    $0.63               $0.30              $0.92




Alliance All-Market Advantage Fund, Inc. is managed by AllianceBernstein L.P.

Shareholder Contact:

1-800-221-5672 

DATASOURCE: Alliance All-Market Advantage Fund, Inc.



CONTACT:  Shareholder, 1-800-221-5672



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

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