AMO Merrill Lynch

NEW YORK, March 19 /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. (NYSE:AMO) (the "Fund") today released its monthly portfolio update as of January 31, 2007. Alliance All-Market Advantage Fund, Inc. Top 10 Equity Holdings Portfolio% Country 1) Google Inc Class A 5.93% United States 2) Wellpoint Inc 5.45% United States 3) Apple Inc 4.92% United States 4) Procter & Gamble Co 4.25% United States 5) Boeing Co 4.03% United States 6) Franklin Res Inc 3.27% United States 7) Merrill Lynch & Co 3.08% United States 8) Cisco Systems Inc 3.07% United States 9) Credit Suisse Group-spn Adr 2.87% Switzerland 10) Alcon Inc 2.83% Switzerland Sector/Industry Breakdown Portfolio% Technology: Computer Hardware/Storage 7.40% Internet Media 5.93% Communication Equipment 4.15% Semiconductor Components 3.14% Software 2.63% Computer Peripherals 1.47% Internet Infrastructure 1.12% Communication Services 0.50% SUBTOTAL 26.34% Finance: Brokerage & Money Management 10.84% Banking - Money Center 3.91% Miscellaneous 3.00% Insurance 2.30% Mortgage Banking 0.53% SUBTOTAL 20.58% Consumer Services: Restaurants & Lodging 6.04% Broadcasting & Cable 4.84% Retail - General Merchandise 4.52% Cellular Communications 2.12% Entertainment & Leisure 0.54% SUBTOTAL 18.06% Healthcare: Medical Services 5.45% Biotechnology 4.86% Medical Products 3.83% SUBTOTAL 14.14% Consumer Staples: Household Products 4.76% Food 1.48% SUBTOTAL 6.24% Aerospace & Defense 5.17% Energy 3.77% Capital Goods: Miscellaneous 1.51% Engineering & Construction 0.50% SUBTOTAL 2.01% Basic Industry 1.74% Consumer Manufacturing 1.36% Short-term 0.59% Total 100.00% Security Type Breakdown Portfolio% Domestic Equity 89.21% Foreign Equity 10.20% Short-term 0.59% Total 100.00% Country Breakdown Portfolio% United States 89.21% Switzerland 5.70% Netherlands Antilles 1.59% Mexico 1.55% Japan 1.36% Short-term 0.59% Total 100.00% Portfolio Statistics Total Net Assets: $49.4 Million Net Asset Value: $13.35 Number of Holdings: 51 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, Alliance All-Market Advantage Fund, Inc., Inc., +1-800-221-5672 Web site: http://www.alliancebernstein.com/

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