Alliance All-Market Advantage Fund Releases Monthly Portfolio Update

NEW YORK, Jan. 11  /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. (NYSE:AMO) (the "Fund") today released its monthly portfolio update as of November 30, 2006.

                 Alliance All-Market Advantage Fund, Inc.

        Top 10 Equity Holdings
                                 Portfolio%     Country
    1)  Apple Computer Inc         5.15%        United States
    2)  Google Inc Class A         5.09%        United States
    3)  Boeing Co                  4.51%        United States
    4)  Wellpoint Inc              4.25%        United States
    5)  Procter & Gamble Co        4.10%        United States
    6)  Halliburton Co             3.53%        United States
    7)  Cisco Systems Inc          3.47%        United States
    8)  Merrill Lynch & Co         2.78%        United States
    9)  Franklin Res Inc           2.69%        United States
   10)  Genentech Inc              2.58%        United States

   Sector/Industry Breakdown
                                      Portfolio%
   Technology:
        Computer Hardware/Storage       7.68%
        Communication Equipment         6.63%
        Internet Media                  5.09%
        Semiconductor Components        4.05%
        Software                        2.03%
        Computer Peripherals            1.52%
        Internet Infrastructure         0.49%
        SUBTOTAL                       27.49%
   Finance:
        Brokerage & Money Management    9.95%
        Banking - Money Center          6.01%
        Miscellaneous                   3.09%
        Insurance                       2.35%
        Banking - Regional              0.70%
        SUBTOTAL                       22.10%
   Consumer Services:
        Restaurants & Lodging           6.48%
        Broadcasting & Cable            3.92%
        Retail - General Merchandise    3.77%
        Miscellaneous                   2.04%
        Cellular Communications         1.75%
        SUBTOTAL                       17.96%
   Healthcare:
        Biotechnology                   4.45%
        Medical Services                4.25%
        Medical Products                2.36%
        Drugs                           0.99%
        SUBTOTAL                       12.05%
   Energy                               5.31%
   Consumer Staples:
        Household Products              4.10%
        Food                            0.68%
        Miscellaneous                   0.49%
        SUBTOTAL                        5.27%
   Aerospace & Defense                  5.02%
   Capital Goods:
        Electrical Equipment            1.03%
        Engineering & Construction      0.44%
        SUBTOTAL                        1.47%
   Consumer Manufacturing               1.23%
   Basic Industry                       1.03%
   Short-term                           1.07%
   Total                              100.00%

   Security Type Breakdown

                      Portfolio%
   Domestic Equity      86.73%
   Foreign Equity       12.20%
   Short-term            1.07%
   Total               100.00%

   Country Breakdown
                       Portfolio%
   United States        86.73%
   Switzerland           6.50%
   Mexico                1.75%
   Netherlands Antilles  1.27%
   Japan                 1.23%
   Israel                0.99%
   Cayman Islands        0.46%
   Short-term            1.07%
   Total               100.00%

  Portfolio Statistics
   Total Net Assets:   $49.5 Million
   Net Asset Value:    $13.40
   Number of Holdings: 61



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



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

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