AMO Merrill Lynch

NEW YORK, June 7 /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. (NYSE:AMO) (the "Fund") today released its monthly portfolio update as of April 30, 2007. Alliance All-Market Advantage Fund, Inc. Top 10 Equity Holdings Portfolio% Country 1) Apple Inc 5.46% United States 2) Google Inc Class A 5.39% United States 3) Wellpoint Inc 4.96% United States 4) Boeing Co 3.99% United States 5) Cisco Systems Inc 3.63% United States 6) Gilead Sciences, Inc 3.51% United States 7) Franklin Resources Inc 3.26% United States 8) Procter & Gamble Co 3.16% United States 9) Chicago Mercantile Exchange 3.15% United States 10) Hewlett-Packard 3.12% United States Sector/Industry Breakdown Portfolio% Technology: Computer Hardware/Storage 9.57% Internet Media 5.39% Communication Equipment 4.74% Semiconductor Components 3.15% Software 2.96% Computer Peripherals 1.61% Internet Infrastructure 1.01% Computer Services 0.31% Communication Services 0.14% SUBTOTAL 28.88% Finance: Brokerage & Money Management 11.19% Banking - Money Center 4.65% Miscellaneous 3.63% Insurance 1.45% SUBTOTAL 20.92% Healthcare: Medical Services 5.39% Biotechnology 5.19% Medical Products 4.74% Drugs 2.22% SUBTOTAL 17.54% Consumer Services: Retail - General Merchandise 5.22% Restaurants & Lodging 4.76% Broadcasting & Cable 3.17% Apparel 0.68% Cellular Communications 0.68% Entertainment & Leisure 0.44% SUBTOTAL 14.95% Aerospace & Defense 5.24% Consumer Staples: Household Products 3.16% Food 0.96% Beverages 0.51% SUBTOTAL 4.63% Energy 3.16% Basic Industry 2.09% Capital Goods 1.13% Multi Industry Companies 1.05% Short-term 0.41% Total 100.00% Security Type Breakdown Portfolio% Domestic Equity 90.70% Foreign Equity 8.89% Short-term 0.41% Total 100.00% Country Breakdown Portfolio% United States 90.70% Switzerland 5.66% Netherlands Antilles 1.79% Mexico 0.68% Israel 0.43% Bermuda 0.33% Short-term 0.41% Total 100.00% Portfolio Statistics Total Net Assets: $49.1 Million Net Asset Value: $13.26 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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