AMO Merrill Lynch

NEW YORK, Nov. 29 /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. (NYSE:AMO), a registered closed-end investment company, today announced earnings for the fourth quarter ended September 30, 2007. Total net assets of the Fund on September 30, 2007 were $50,470,526, as compared with $48,777,840 on June 30, 2007 and $47,369,363 on September 30, 2006. On September 30, 2007 the net asset value per share was $13.63 based on 3,703,216 shares outstanding. September 30, 2007 June 30, 2007 September 30, 2006 Total Net Assets $50,470,526 $48,777,840 $47,369,363 NAV Per Share $13.63 $13.18 $12.83 Shares Outstanding 3,703,216 3,700,669 3,691,364 For the period July 1, 2007 through September 30, 2007, the total net operating loss was $409,232 or $0.11 per share. The total net realized and unrealized gain was $3,289,275 or $0.89 per share for the same period. Fourth Quarter Third Quarter Fourth Quarter Ended Ended Ended September 30, 2007 June 30, 2007 September 30, 2006 Total Net Investment Income (Loss) ($409,232) ($98,211) ($132,751) Per Share ($0.11) ($0.03) ($0.04) Total Net Realized/ Unrealized Gain/(Loss) $3,289,275 $2,559,315 $1,093,583 Per Share $0.89 $.69 $0.30 Alliance All-Market Advantage Fund, Inc. is managed 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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