AMO Merrill Lynch

NEW YORK, Feb. 12 /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. (NYSE:AMO) (the "Fund") today released its monthly portfolio update as of December 31, 2006. Alliance All-Market Advantage Fund, Inc. Top 10 Equity Holdings Portfolio% Country 1) Google Inc Class A 5.25% United States 2) Boeing Co 4.52% United States 3) Apple Computer Inc 4.47% United States 4) Wellpoint Inc 4.46% United States 5) Procter & Gamble Co 4.19% United States 6) Cisco Systems Inc 3.53% United States 7) Franklin Res Inc 3.28% United States 8) Halliburton Co 3.25% United States 9) Merrill Lynch & Co 2.96% United States 10) Broadcom Corporation 2.74% United States Sector/Industry Breakdown Portfolio% Technology: Computer Hardware/Storage 7.11% Communication Equipment 6.26% Internet Media 5.25% Semiconductor Components 5.25% Computer Peripherals 1.53% Software 1.50% Internet Infrastructure 0.88% SUBTOTAL 27.78% Finance: Brokerage & Money Management 10.58% Banking -- Money Center 4.82% Miscellaneous 2.60% Insurance 2.39% SUBTOTAL 20.39% Consumer Services: Restaurants & Lodging 5.84% Broadcasting & Cable 4.72% Retail -- General Merchandise 4.48% Cellular Communications 1.78% Miscellaneous 0.44% Apparel 0.20% SUBTOTAL 17.46% Healthcare: Medical Services 4.46% Biotechnology 3.65% Medical Products 2.68% Drugs 0.96% SUBTOTAL 11.75% Consumer Staples: Household Products 4.19% Food 0.97% Miscellaneous 0.52% SUBTOTAL 5.68% Aerospace & Defense 5.57% Energy 5.02% Capital Goods: Miscellaneous 2.07% Engineering & Construction 0.49% SUBTOTAL 2.56% Basic Industry 1.65% Consumer Manufacturing 1.38% Short-term 0.76% Total 100.00% Security Type Breakdown Portfolio% Domestic Equity 87.66% Foreign Equity 11.58% Short-term 0.76% Total 100.00% Country Breakdown Portfolio% United States 87.65% Switzerland 5.85% Mexico 1.78% Japan 1.38% Netherlands Antilles 1.17% Israel 0.96% Cayman Islands 0.45% Short-term 0.76% Total 100.00% Portfolio Statistics Total Net Assets: $48.4 Million Net Asset Value: $13.10 Number of Holdings: 55 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: Shareholders for Alliance All-Market Advantage Fund, Inc., 800-221-5672 Web site: http://www.alliancebernstein.com/

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