AMO Merrill Lynch

NEW YORK, July 26 /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. (NYSE:AMO) (the "Fund") today released its monthly portfolio update as of June 30, 2007. Alliance All-Market Advantage Fund, Inc. Top 10 Equity Holdings Portfolio% Country 1) Google Inc-cl A 6.27% United States 2) Apple Inc 6.11% United States 3) Wellpoint Inc 4.34% United States 4) Boeing Co 3.95% United States 5) Cisco Systems Inc 3.70% United States 6) Chicago Mercantile Exchange-a 3.69% United States 7) Comcast Corp 3.29% United States 8) Hewlett-Packard Co 3.11% United States 9) Franklin Resources Inc 3.06% United States 10) Gilead Sciences, Inc 2.55% United States Sector/Industry Breakdown Portfolio% Computer Hardware/Storage 9.74% Communication Equipment 5.35% Semiconductor Components 3.17% Software 2.41% Computer Peripherals 1.30% Internet Infrastructure 0.68% SUBTOTAL 22.65% Finance: Brokerage & Money Management 11.46% Miscellaneous 4.68% Banking - Money Center 2.62% SUBTOTAL 18.76% Consumer Services: Miscellaneous 6.27% Retail - General Merchandise 4.27% Restaurants & Lodging 3.41% Broadcasting & Cable 3.29% Cellular Communications 1.26% Gaming 0.15% SUBTOTAL 18.65% Healthcare: Biotechnology 5.88% Medical Services 5.34% Medical Products 4.49% Drugs 2.35% SUBTOTAL 18.06% Aerospace & Defense 5.42% Energy 4.61% Consumer Staples: Household Products 2.46% Beverages 0.94% Food 0.45% SUBTOTAL 3.85% Basic Industry 3.24% Capital Goods: Engineering & Construction 1.12% Machinery 0.70% Electrical Equipment 0.50% Miscellaneous 0.47% SUBTOTAL 2.79% Multi Industry Companies 1.65% Short-term 0.32% Total 100.00% Security Type Breakdown Portfolio% Domestic Equity 91.38% Foreign Equity 8.30% Short-term 0.32% Total 100.00% Country Breakdown Portfolio% United States 91.38% Switzerland 3.99% Netherlands Antilles 2.34% Mexico 1.26% Israel 0.64% Bermuda 0.07% Short-term 0.32% Total 100.00% Portfolio Statistics Total Net Assets: $48.8 Million Net Asset Value: $13.18 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 CONTACT: Shareholder Contact, 1-800-221-5672 Web site: http://www.alliancebernstein.com/

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