Alliance All-Market Advantage Fund Releases Monthly Portfolio Update

NEW YORK, May 23  /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. (NYSE:AMO) (the "Fund") today released its monthly portfolio update as of March 31, 2007.

                 Alliance All-Market Advantage Fund, Inc.

      Top 10 Equity Holdings
                               Portfolio%    Country
   1) Google Inc Class A            5.65%    United States
   2) Apple Inc                     5.58%    United States
   3) Wellpoint Inc                 5.27%    United States
   4) Boeing Co                     3.85%    United States
   5) Gilead Sciences, Inc          3.61%    United States
   6) Cisco Systems Inc             3.53%    United States
   7) Procter & Gamble Co           3.52%    United States
   8) Franklin Res Inc              3.25%    United States
   9) Alcon Inc                     3.22%    Switzerland
  10) Hewlett-Packard               3.07%    United States

  Sector/Industry Breakdown
                                    Portfolio%
  Technology:
      Computer Hardware/Storage          9.54%
      Internet Media                     5.65%
      Communication Equipment            4.16%
      Semiconductor Components           3.58%
      Software                           3.04%
      Computer Peripherals               1.52%
      Internet Infrastructure            1.16%
      Communication Services             0.78%
      SUBTOTAL                          29.43%
  Finance:
      Brokerage & Money Management      10.21%
      Miscellaneous                      4.77%
      Banking - Money Center             4.39%
      Insurance                          1.90%
      SUBTOTAL                          21.27%
  Consumer Services:
      Restaurants & Lodging              5.62%
      Retail - General Merchandise       5.54%
      Broadcasting & Cable               3.31%
      Cellular Communications            1.16%
      Apparel                            0.68%
      Entertainment & Leisure            0.43%
      SUBTOTAL                          16.74%
  Healthcare:
      Medical Services                   5.27%
      Biotechnology                      5.21%
      Medical Products                   5.16%
      SUBTOTAL                          15.64%
  Aerospace & Defense                    5.49%
  Consumer Staples:
      Household Products                 3.52%
      Food                               1.03%
      SUBTOTAL                           4.55%
  Energy                                 3.78%
  Basic Industry                         2.01%
  Capital Goods                          1.09%
  Total                                100.00%

  Security Type Breakdown
                                    Portfolio%
  Domestic Equity                       91.09%
  Foreign Equity                         8.91%
  Total                                100.00%

  Country Breakdown
                                    Portfolio%
  United States                         91.09%
  Switzerland                            6.16%
  Netherlands Antilles                   1.62%
  Mexico                                 0.65%
  Bermuda                                0.48%
  Total                                100.00%

  Portfolio Statistics
   Total Net Assets:     $47.5 Million
   Net Asset Value:      $12.84
   Number of Holdings:    53



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



CONTACT:  Shareholder Contact, [phone]



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

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