Alliance All-Market Advantage Fund Releases Monthly Portfolio Update

NEW YORK, March 15  /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. [NYSE: AMO] (the "Fund") today released its monthly portfolio update as of January 31, 2006.

                 Alliance All-Market Advantage Fund, Inc.

       Top 10 Equity Holdings
                               Portfolio%        Country

   1)  Halliburton Co               6.12%        United States
   2)  Google Inc Class A           5.38%        United States
   3)  Broadcom Corporation         4.50%        United States
   4)  Qualcomm Incorporated        4.37%        United States
   5)  Nabors Industries Ltd        3.50%        Bermuda
   6)  Genentech Inc                3.49%        United States
   7)  eBay Inc                     3.37%        United States
   8)  Teva Pharmaceutical-adr      3.33%        Israel
   9)  Corning Inc                  3.28%        United States
  10)  Apple Computer Inc           3.12%        United States

       Sector/Industry Breakdown
                                        Portfolio%
       Technology:
          Communication Equipment            9.82%
          Semiconductor Components           9.68%
          Internet Media                     5.38%
          Computer Hardware/Storage          3.12%
          Computer Peripherals               1.11%
          Software                           0.73%
          Semiconductor Capital Equip        0.46%
          SUBTOTAL                          30.30%
       Healthcare:
          Biotechnology                      7.17%
          Medical Services                   5.12%
          Drugs                              3.33%
          Medical Products                   2.81%
          SUBTOTAL                          18.43%
       Consumer Services:
          Retail - General Merchandise       7.60%
          Miscellaneous                      3.42%
          Restaurants & Lodging              1.52%
          Cellular Communications            1.08%
          SUBTOTAL                          13.62%
       Finance:
          Brokerage & Money Management       7.69%
          Banking - Money Center             2.76%
          Insurance                          1.97%
          Banking - Regional                 0.92%
          SUBTOTAL                          13.34%
       Energy                               11.98%
       Consumer Staples:
          Household Products                 2.05%
          Retail - Food & Drug               1.05%
          SUBTOTAL                           3.10%
       Aerospace & Defense                   1.93%
       Capital Goods                         1.72%
       Multi Industry Companies              0.30%
       Short-term                            5.28%
       Total                               100.00%

       Security Type Breakdown
                                        Portfolio%
       Domestic Equity                      78.76%
       Foreign Equity                       15.96%
       Short-term                            5.28%
       Total                               100.00%

       Country Breakdown
                                        Portfolio%
       United States                        78.76%
       Bermuda                               6.44%
       Israel                                3.33%
       Switzerland                           3.00%
       Cayman Islands                        2.11%
       Mexico                                1.08%
       Short-term                            5.28%
       Total                               100.00%

  Portfolio Statistics
       Total Net Assets:          $56.7 Million
       Net Asset Value:           $15.39
       Number of Holdings:        52



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:  Alliance All-Market Advantage Fund, Inc., Shareholder Contact,

1-800-221-5672



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

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