Alliance New York Municipal Income Fund Releases Monthly Portfolio Update NEW YORK, Jan. 3 /PRNewswire-FirstCall/ -- Alliance New York Municipal Income Fund, Inc. [NYSE: AYN] (the "Fund") today released its monthly portfolio update as of November 30, 2004. Alliance New York Municipal Income Fund, Inc. Top 10 Fixed-Income Holdings Portfolio% 1) NYS Mtg Agy AMT 5.450% (04/01/31) 9.69% 2) NY Metro Trans Auth 5.125% (11/15/31) 4.86% 3) New York State Dorm Auth MBIA 5.750% (08/01/29) 4.82% 4) New York State UDC 5.250% (03/15/32) 4.47% 5) NYC Trust Cultural Resources 5.125% (07/01/31) 4.46% 6) NYC Muni Wtr Fin Auth 5.125% (06/15/34) 4.43% 7) Trib Brdg & Tunl Auth NY 5.000% (01/01/32) 4.38% 8) Tobacco Settlement NY AMBAC As 5.250% (06/01/21) 3.71% 9) New York NY Go Pre Re 5.500% (12/01/31) 3.48% 10) Suffolk Cnty NY Ser 98 AMT 5.500% (01/01/23) 3.10% Industry/Sector Breakdown Portfolio% Hospital/Health Care 18.46% Transportation 14.37% Housing-Mortgages 11.29% General Obligation 10.96% Special Tax 10.01% Water/SWR 6.20% Higher Education 5.98% Corporate - Utility (Electric) 5.88% Cop/Lease Rental 3.71% Housing-Rental Units 2.97% Continuing Care Facility 2.40% Community Facility 2.11% Utility 1.60% Assessment District 1.47% Airport Facility 0.89% Short-term: 1.70% Total: 100.00% Bond Rating Portfolio% AAA 41.14% AA 23.92% A 22.89% BBB 3.48% BB 8.57% Total 100.00% Percentage of Leverage: Bank Loans: 0% Investment Operations: 0.04% Preferred Stock: 38.55% Total: 38.59%* Avg. Maturity: 23.67 Years Duration: 9.90 Years Total Net Assets: $116.7 Million Net Asset Value: $14.85 Number of Holdings: 46 * The total percentage of leverage constitutes 38.55% in preferred stock, which represents issued and outstanding preferred stock, and 0.04% in investment operations which may include the use of certain portfolio management techniques such as credit default swaps, dollar rolls, negative cash, reverse repurchase agreements and when-issued securities. 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, 1-800-221-5672 for Alliance New York Municipal Income Fund, Inc. Web site: http://www.alliancecapital.com/

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