AMO Merrill Lynch

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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