AMO Merrill Lynch

NEW YORK, June 19 /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. (NYSE:AMO) (the "Fund") today released its monthly portfolio update as of May 31, 2007. Alliance All-Market Advantage Fund, Inc. Top 10 Equity Holdings Portfolio% Country 1) Apple Inc 6.04% United States 2) Google Inc. Class A 5.89% United States 3) Wellpoint Inc 4.73% United States 4) Boeing Co 4.08% United States 5) Chicago Mercantile Exchange 3.62% United States 6) Cisco Systems Inc 3.54% United States 7) Hewlett-Packard 3.28% United States 8) Franklin Resources Inc 3.10% United States 9) Comcast Corp 3.07% United States 10) Procter & Gamble Co 2.92% United States Sector/Industry Breakdown Portfolio% Technology: Computer Hardware/Storage 10.16% Communication Equipment 4.94% Software 3.34% Semiconductor Components 2.35% Computer Peripherals 1.35% Internet Infrastructure 0.51% SUBTOTAL 22.65% Finance: Brokerage & Money Management 10.68% Miscellaneous 4.35% Banking - Money Center 4.19% Insurance 1.18% SUBTOTAL 20.40% Consumer Services: Miscellaneous 5.89% Retail - General Merchandise 4.42% Restaurants & Lodging 3.95% Broadcasting & Cable 3.07% Cellular Communications 1.09% Apparel 0.58% Entertainment & Leisure 0.10% SUBTOTAL 19.10% Healthcare: Medical Services 5.64% Biotechnology 5.55% Medical Products 4.60% Drugs 2.48% SUBTOTAL 18.27% Aerospace & Defense 5.38% Consumer Staples: Household Products 2.92% Beverages 0.89% Food 0.68% SUBTOTAL 4.49% Energy 3.80% Basic Industry 2.71% Capital Goods: Engineering & Construction 1.04% Electrical Equipment 0.52% SUBTOTAL 1.56% Multi Industry Companies 1.29% Short-term 0.35% Total 100.00% Security Type Breakdown Portfolio% Domestic Equity 90.78% Foreign Equity 8.87% Short-term 0.35% Total 100.00% Country Breakdown Portfolio% United States 90.78% Switzerland 5.02% Netherlands Antilles 2.01% Mexico 1.09% Israel 0.60% Bermuda 0.15% Short-term 0.35% Total 100.00% Portfolio Statistics Total Net Assets: $50.8 Million Net Asset Value: $13.73 Number of Holdings: 58 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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