AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

Dec 28, 2010, 16:06 ET from AllianceBernstein National Municipal Income Fund, Inc.

NEW YORK, Dec. 28, 2010 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.[NYSE: AFB] (the "Fund") today released its monthly portfolio update as of November 30, 2010.



AllianceBernstein National Municipal Income Fund, Inc.



Top 10 Fixed-Income Holdings


Portfolio %

1) Texas Transp Commission    Series 07    5.00%, 4/01/23

3.33%

2) Wayne State Univ MI    Series 2009    5.00%, 11/15/29

2.50%

3) Chicago IL O'hare Intl Arpt (O'hare Intl Arpt)    

2.22%

NPFGC Series A    5.375%,1/01/32


4) Wisconsin Hlth & Ed Fac Auth    (Ministry Health

1.97%

Care, Inc.) NPFGC Series 02A    5.25%, 2/15/32


5) Univ of Illinois     AGM Series 07A    5.25%,

1.65%

10/01/26


6) Bexar Cnty TX HFC MFHR    (Doral Club & Sutton

1.62%

House Apts) NPFGC Series 01A    5.55%, 10/01/36


7) Indianapolis IN Loc Bond Bank     NPFGC Series 2A

1.58%

5.25%, 7/01/33 (Prerefunded/ETM)


8) Twenty Fifth Ave Pptys WA    (Univ of WA Dorm

1.43%

25th Ave) NPFGC Series 02    5.25%, 6/01/33


9) Texas GO    Series 02A    5.50%, 8/01/41

1.42%

10) Los Angeles CA Regl Arpts    (Laxfuel Corp.)

1.38%

AMBAC Series 01    5.50%, 1/01/32








Sector/Industry Breakdown



Portfolio %

   Prerefunded/ETM

11.32%

   Health Care - Not-for-Profit

10.73%

   Airport

8.18%

   Special Tax

8.07%

   Insured

7.90%

   Local G.O.

6.22%

   State G.O.

5.58%

   Assessment District

4.87%

   Higher Education - Public

4.57%

   Revenue - Miscellaneous

3.46%

   Water & Sewer

3.26%

   Housing - Multi-Family

2.91%

   Industrial Development - Utility

2.55%

   Tax-Supported Local Lease

2.44%

   Guaranteed

2.29%

   Tax-Supported State Lease

2.16%

   Housing - Single Family

2.14%

   Industrial Development - Industry

2.14%

   Higher Education - Private

1.79%

   State Lease

1.65%

   Industrial Development - Airline

1.38%

   Student Loan

1.14%

   Senior Living

0.84%

   Health Care - Municipal

0.81%

   Prepay Energy

0.62%

   Primary/Secondary Ed. - Public

0.48%

   Toll Roads/Transit

0.26%

   Electric Utility

0.24%

   Total

100.00%



   State Breakdown



Portfolio %

   Texas

18.64%

   California

11.69%

   Illinois

8.90%

   Florida

7.32%

   Michigan

4.85%

   Washington

3.67%

   Alabama

3.56%

   Colorado

3.46%

   Wisconsin

3.25%

   New York

3.18%

   Louisiana

2.57%

   Indiana

2.56%

   Pennsylvania

2.55%

   Nevada

2.44%

   Ohio

2.06%

   Massachusetts

1.82%

   South Carolina

1.57%

   Alaska

1.53%

   Tennessee

1.49%

   Puerto Rico

1.42%

   Hawaii

1.39%

   Virginia

1.25%

   Arizona

1.03%

   New Jersey

0.91%

   Georgia

0.91%

   Rhode Island

0.81%

   New Hampshire

0.78%

   Oregon

0.71%

   North Carolina

0.62%

   Mississippi

0.59%

   District of Columbia

0.52%

   Missouri

0.49%

   North Dakota

0.42%

   Minnesota

0.32%

   Arkansas

0.24%

   Utah

0.22%

   Kansas

0.19%

   Iowa

0.07%

   Total Investments

100.00%



       Credit Quality Breakdown



Portfolio %

       AAA

18.24%

       AAA(Pre-refunded Bonds)

11.32%

       AA

25.70%

       A

25.07%

       BBB

13.28%

       BB

1.42%

       Not Rated

4.97%

       Total Investments

100.00%



Portfolio Statistics:


   AMT Percentage:

19.89%

   Average Coupon:

5.53%

   Percentage of Leverage:


       Bank Borrowing:

0.00%

       Investment Operations:

0.45%

       Preferred Stock:

37.71%

       Tender Option Bonds:

6.66%

       Term Asset-Backed Loans Facility (TALF):

0.00%

       Total Fund Leverage:

44.82%*

   Average Maturity:

8.81 Years

   Effective Duration:

6.19 Years

   Total Net Assets:

$642.27 Million**

   Common Stock Net Asset Value:

$13.94

   Number of Holdings:

218



* The total percentage of leverage constitutes 6.66% through the use of tender

option bonds, 37.71% in issued and outstanding preferred stock and 0.45% 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.


** Includes 242,225,000 of preferred stock at liquidation value. 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.



SOURCE AllianceBernstein National Municipal Income Fund, Inc.



RELATED LINKS

http://www.alliancebernstein.com