NEW YORK, Sept. 21 /PRNewswire-FirstCall/ -- Alliance New York Municipal Income Fund, Inc. [NYSE: AYN] (the "Fund") today released its monthly portfolio update as of August 31, 2005. Alliance New York Municipal Income Fund, Inc. Top 10 Fixed-Income Holdings Portfolio% 1) NYS Mtg Agy AMT 5.450% (04/01/31) 9.47% 2) NY Metro Trans Auth 5.125% (11/15/31) 4.87% 3) New York State Dorm Auth MBIA 5.750% (08/01/29) 4.77% 4) New York State UDC 5.250% (03/15/32) 4.62% 5) NYC Trust Cultural Resources 5.125% (07/01/31) 4.41% 6) NYC Muni Wtr Fin Auth 5.125% (06/15/34) 4.41% 7) Trib Brdg & Tunl Auth NY Gen P 5.000% (01/01/32) 3.87% 8) Tobacco Settlement NY AMBAC As 5.250% (06/01/21) 3.62% 9) New York NY Go Pre Re 5.500% (12/01/31) 3.28% 10) Suffolk Cnty NY Ser 98 AMT 5.500% (01/01/23) 3.13% Sector/Industry Breakdown Portfolio% Muni: Hospital/Health Care 18.16% Transportation 15.68% General Obligation 12.68% Housing-Mortgages 10.98% Special Tax 9.03% Water/SWR 6.18% Higher Education 5.88% Corporate - Utility (Electric) 5.87% Cop/Lease Rental 3.62% Housing-Rental Units 2.89% Continuing Care Facility 2.22% Community Facility 2.02% Utility 1.67% Assessment District 1.42% Airport Facility 0.87% Housing 0.58% Resource Recovery/ Solid Waste 0.25% SUBTOTAL 100.00% Total 100.00% Credit Quality Breakdown Portfolio% AAA 44.94% AA 23.21% A 19.68% BBB 6.30% BB 5.87% Total 100.00% Portfolio Statistics Percentage of Leverage: Bank Loans: 0% Investment Operations: 0% Preferred Stock: 37.41%* Total: 37.41% Avg. Maturity: 23.43 Years Duration: 5.78 Years Total Net Assets: $120.3 Million Net Asset Value: $15.60 Number of Holdings: 47 * Represents issued and outstanding preferred stock. 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 Alliance Capital Management L. P. DATASOURCE: Alliance New York Municipal Income Fund, Inc. CONTACT: Shareholder Contact for Alliance New York Municipal Income Fund, Inc., 1-800-221-5672 Web site: http://www.alliancecapital.com/

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