Alliance All-Market Advantage Fund Releases Monthly Portfolio Update

NEW YORK, Aug. 27  /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. (NYSE:AMO) (the "Fund") today released its monthly portfolio update as of July 31, 2007.

                 Alliance All-Market Advantage Fund, Inc.

  Top 10 Equity Holdings

                                 Portfolio %        Country
  1)  Google Inc-cl A                 6.09 %     United States
  2)  Apple Inc                       5.93 %     United States
  3)  Boeing Co                       4.15 %     United States
  4)  Wellpoint Inc                   3.97 %     United States
  5)  Cisco Systems Inc               3.81 %     United States
  6)  Cme Group Inc                   3.66 %     United States
  7)  Hewlett-Packard Co              3.23 %     United States
  8)  Comcast Corp                    3.11 %     United States
  9)  Franklin Resources Inc          3.07 %     United States
  10) Schlumberger Ltd                2.69 %     United States



            Sector/Industry Breakdown
                                                                Portfolio %
            Technology:
              Computer Hardware/Storage                              9.67 %
              Communication Equipment                                5.55 %
              Semiconductor Components                               4.96 %
              Software                                               1.56 %
              Computer Peripherals                                   1.41 %
              Internet Infrastructure                                0.47 %
              SUBTOTAL                                              23.62 %
            Healthcare:
              Biotechnology                                          5.95 %
              Medical Services                                       5.13 %
              Medical Products                                       4.33 %
              Drugs                                                  1.75 %
              SUBTOTAL                                              17.16 %
            Finance:
              Brokerage & Money Management                          11.14 %
              Miscellaneous                                          4.80 %
              Banking - Money Center                                 0.73 %
              SUBTOTAL                                              16.67 %
            Consumer Services:
              Miscellaneous                                          6.09 %
              Retail - General Merchandise                           3.30 %
              Broadcasting & Cable                                   3.11 %
              Restaurants & Lodging                                  2.35 %
              Cellular Communications                                1.26 %
              Gaming                                                 0.26 %
              SUBTOTAL                                              16.37 %
            Aerospace & Defense                                      5.65 %
            Energy                                                   5.40 %
            Capital Goods:
              Machinery                                              1.60 %
              Engineering & Construction                             1.06 %
              Miscellaneous                                          0.95 %
              Electrical Equipment                                   0.84 %
              SUBTOTAL                                               4.45 %
            Consumer Staples:
              Household Products                                     2.02 %
              Beverages                                              1.08 %
              Food                                                   0.75 %
              SUBTOTAL                                               3.85 %
            Basic Industry                                           3.62 %
            Multi Industry Companies                                 2.12 %
            Short-term                                               1.09 %
            Total                                                  100.00 %



            Security Type Breakdown
                                                                Portfolio %
            Domestic Equity                                         94.19 %
            Foreign Equity                                           4.72 %
            Short-term                                               1.09 %
            Total                                                  100.00 %

            Country Breakdown
                                                                Portfolio %
            United States                                           94.19 %
            Switzerland                                              2.59 %
            Mexico                                                   1.26 %
            Israel                                                   0.66 %
            Canada                                                   0.21 %
            Short-term                                               1.09 %
            Total                                                  100.00 %

  Portfolio Statistics

           Total Net Assets:                                 $48.3 Million
           Net Asset Value:                                         $13.05
           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 for Alliance All-Market Advantage Fund,

Inc., 1-800-221-5672



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

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