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

NEW YORK, May 29  /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. (NYSE:AMO), a registered closed-end investment company, today announced earnings for the second quarter ended March 31, 2007.

Total net assets of the Fund on March 31, 2007 were $47,464,400 as compared with $48,397,899 on December 31, 2006 and $52,981,666 on March 31, 2006.  On March 31, 2007 the net asset value per share was $12.84 based on 3,697,685 shares outstanding.

                    March 31, 2007    December 31, 2006     March 31, 2006
  Total Net Assets     $47,464,400          $48,397,899        $52,981,666
  NAV Per Share             $12.84               $13.10             $14.39
  Shares Outstanding     3,697,685            3,694,683          3,682,953





For the period January 1, 2007 through March 31, 2007, total net operating loss was $186,044 or $0.05 per share.  The total net realized and unrealized gain was $424,209 or $0.12 per share for the same period.

                     Second Quarter       First Quarter       Second Quarter
                              Ended               Ended                Ended
                     March 31, 2007   December 31, 2006       March 31, 2006
  Total Net Investment
   Income (Loss)          ($186,044)          ($146,166)         ($251,101)
  Per Share                  ($0.05)             ($0.04)            ($0.07)

  Total Net
   Realized/
   Unrealized Gain         $424,209          $2,311,830           $928,846
  Per Share                   $0.12               $0.63              $0.25





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

DATASOURCE: Alliance All-Market Advantage Fund, Inc.



CONTACT:  Shareholder Contact, [phone]



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

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