Alliance All-Market Advantage Fund Releases Monthly Portfolio Update

NEW YORK, Jan. 17  /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. (NYSE:AMO) (the "Fund") today released its monthly portfolio update as of December 31, 2007.

                 Alliance All-Market Advantage Fund, Inc.

       Top 10 Equity Holdings
                                        Portfolio%      Country
   1)  Google Inc-cl A                     6.74%      United States
   2)  Apple Inc                           6.14%      United States
   3)  Cisco Systems Inc                   4.12%      United States
   4)  Schlumberger Ltd                    3.57%      Netherlands Antilles
   5)  Hewlett-Packard Co                  3.46%      United States
   6)  Gilead Sciences Inc                 3.06%      United States
   7)  Monsanto Co                         3.05%      United States
   8)  Abbott Laboratories                 2.99%      United States
   9)  Honeywell International Inc         2.94%      United States
  10)  Cme Group Inc                       2.83%      United States

       Sector/Industry Breakdown
                                        Portfolio%
       Technology:
        Computer Hardware/Storage         10.32%
        Communication Equipment            8.47%
        Semiconductor Components           4.88%
        Software                           3.30%
        SUBTOTAL                          26.97%
       Healthcare:
        Medical Products                   6.52%
        Biotechnology                      5.83%
        Medical Services                   4.19%
        Drugs                              1.56%
        SUBTOTAL                          18.10%
       Consumer Services:
        Miscellaneous                      6.74%
        Retail - General Merchandise       1.57%
        Restaurants & Lodging              1.37%
        Cellular Communications            0.82%
        Broadcasting & Cable               0.37%
        SUBTOTAL                          10.87%
       Finance:
        Brokerage & Money Management       6.02%
        Miscellaneous                      3.23%
        SUBTOTAL                           9.25%
       Energy:
        Oil Service                        7.48%
        Domestic Producers                 1.62%
        SUBTOTAL                           9.10%
       Capital Goods:
        Engineering & Construction         3.22%
        Machinery                          2.60%
        Electrical Equipment               1.01%
        Miscellaneous                      0.49%
        SUBTOTAL                           7.32%
       Consumer Staples:
        Household Products                 3.05%
        Beverages                          2.10%
        Food                               1.46%
        SUBTOTAL                           6.61%
       Basic Industry                      4.85%
       Multi Industry Companies            4.27%
       Aerospace & Defense                 1.56%
       Short-term                          1.10%
       Total                             100.00%

       Security Type Breakdown
                                        Portfolio%
       Domestic Equity                    84.80%
       Foreign Equity                     14.10%
       Short-term                          1.10%
       Total                             100.00%

       Country Breakdown
                                        Portfolio%
       United States                      84.81%
       Switzerland                         3.66%
       Netherlands Antilles                3.57%
       Canada                              2.47%
       Finland                             1.88%
       Israel                              1.36%
       Mexico                              0.82%
       Panama                              0.33%
       Short-term                          1.10%
       Total                             100.00%

      Portfolio Statistics
       Total Net Assets:                 $49.5 Million
       Net Asset Value:                  $13.37
       Number of Holdings:               59




The foregoing portfolio characteristics are as of the date indicated and can be expected to change. The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L. P. 

DATASOURCE: Alliance All-Market Advantage Fund, Inc.



CONTACT:  Shareholder Contact: 1-800-221-5672

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