AMO Merrill Lynch

NEW YORK, Sept. 18 /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. (NYSE:AMO) (the "Fund") today released its monthly portfolio update as of August 31, 2007. Alliance All-Market Advantage Fund, Inc. Top 10 Equity Holdings Portfolio% Country 1) Apple Inc 6.35% United States 2) Google Inc-cl A 6.15% United States 3) Cisco Systems Inc 4.27% United States 4) Boeing Co 4.07% United States 5) Wellpoint Inc 3.91% United States 6) Cme Group Inc 3.54% United States 7) Hewlett-Packard Co 3.25% United States 8) Franklin Resources Inc 3.24% United States 9) Comcast Corp 3.15% United States 10) Schlumberger Ltd 2.97% Netherland Antilles Sector/Industry Breakdown Portfolio% Technology: Computer Hardware/Storage 9.59% Communication Equipment 6.04% Semiconductor Components 4.85% Software 1.54% Internet Infrastructure 0.19% SUBTOTAL 22.21% Healthcare: Biotechnology 6.11% Medical Services 5.00% Medical Products 4.41% Drugs 1.58% SUBTOTAL 17.10% Finance: Brokerage & Money Management 11.55% Miscellaneous 4.73% SUBTOTAL 16.28% Consumer Services: Miscellaneous 6.15% Retail - General Merchandise 3.68% Broadcasting & Cable 3.15% Restaurants & Lodging 1.73% Cellular Communications 1.25% SUBTOTAL 15.96% Energy 5.64% Aerospace & Defense 5.60% Capital Goods: Machinery 2.15% Engineering & Construction 1.32% Miscellaneous 1.13% Electrical Equipment 0.87% SUBTOTAL 5.47% Consumer Staples: Household Products 2.50% Beverages 1.20% Food 0.92% SUBTOTAL 4.62% Basic Industry 3.93% Multi Industry Companies 2.44% Short-term 0.75% Total 100.00% Security Type Breakdown Portfolio% Domestic Equity 91.74% Foreign Equity 7.51% Short-term 0.75% Total 100.00% Country Breakdown Portfolio% United States 91.73% Netherland Antilles 2.97% Switzerland 2.09% Mexico 1.25% Canada 0.64% Israel 0.57% Short-term 0.75% Total 100.00% Portfolio Statistics Total Net Assets: $48.9 Million Net Asset Value: $13.21 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: Shareholder Contact of Alliance All-Market Advantage Fund, Inc., +1-800-221-5672 Web site: http://www.alliancebernstein.com/

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