AMO Merrill Lynch

NEW YORK, Aug. 27 /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. (NYSE:AMO) (the "Fund") today released its monthly portfolio update as of July 31, 2007. Alliance All-Market Advantage Fund, Inc. Top 10 Equity Holdings Portfolio % Country 1) Google Inc-cl A 6.09 % United States 2) Apple Inc 5.93 % United States 3) Boeing Co 4.15 % United States 4) Wellpoint Inc 3.97 % United States 5) Cisco Systems Inc 3.81 % United States 6) Cme Group Inc 3.66 % United States 7) Hewlett-Packard Co 3.23 % United States 8) Comcast Corp 3.11 % United States 9) Franklin Resources Inc 3.07 % United States 10) Schlumberger Ltd 2.69 % United States Sector/Industry Breakdown Portfolio % Technology: Computer Hardware/Storage 9.67 % Communication Equipment 5.55 % Semiconductor Components 4.96 % Software 1.56 % Computer Peripherals 1.41 % Internet Infrastructure 0.47 % SUBTOTAL 23.62 % Healthcare: Biotechnology 5.95 % Medical Services 5.13 % Medical Products 4.33 % Drugs 1.75 % SUBTOTAL 17.16 % Finance: Brokerage & Money Management 11.14 % Miscellaneous 4.80 % Banking - Money Center 0.73 % SUBTOTAL 16.67 % Consumer Services: Miscellaneous 6.09 % Retail - General Merchandise 3.30 % Broadcasting & Cable 3.11 % Restaurants & Lodging 2.35 % Cellular Communications 1.26 % Gaming 0.26 % SUBTOTAL 16.37 % Aerospace & Defense 5.65 % Energy 5.40 % Capital Goods: Machinery 1.60 % Engineering & Construction 1.06 % Miscellaneous 0.95 % Electrical Equipment 0.84 % SUBTOTAL 4.45 % Consumer Staples: Household Products 2.02 % Beverages 1.08 % Food 0.75 % SUBTOTAL 3.85 % Basic Industry 3.62 % Multi Industry Companies 2.12 % Short-term 1.09 % Total 100.00 % Security Type Breakdown Portfolio % Domestic Equity 94.19 % Foreign Equity 4.72 % Short-term 1.09 % Total 100.00 % Country Breakdown Portfolio % United States 94.19 % Switzerland 2.59 % Mexico 1.26 % Israel 0.66 % Canada 0.21 % Short-term 1.09 % Total 100.00 % Portfolio Statistics Total Net Assets: $48.3 Million Net Asset Value: $13.05 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 for Alliance All-Market Advantage Fund, Inc., 1-800-221-5672 Web site: http://www.alliancebernstein.com/

Copyright