Alliance California Municipal Income Fund, Inc. Reports First Quarter Earnings

Mar 25, 2011, 16:06 ET from Alliance California Municipal Income Fund, Inc.

NEW YORK, March 25, 2011 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP), a registered closedend investment company, today announced earnings for the Fund's first fiscal quarter ended January 31, 2011.

Total net assets of the Fund* on January 31, 2011 were $184,784,185, as compared with $197,781,177 on October 31, 2010 and $191,925,183 on January 31, 2010.  On January 31, 2011, the net asset value per share of common stock was $13.15 based on 8,536,533 shares of common stock outstanding.

January 31, 2011

October 31, 2010

January 31, 2010

Total Net Assets

$184,784,185

$197,781,177

$191,925,183

NAV Per Share

$13.15

$14.67

$13.98

Shares Outstanding

8,536,533

8,536,533

8,536,533

For the period November 1, 2010 through January 31, 2011, total net investment income was $2,227,106 or $0.26 per share of common stock.  The total net realized and unrealized loss was $13,196,377 or $1.55 per share of common stock for the same period.

First Quarter Ended January 31, 2011

Fourth Quarter Ended October 31, 2010

First Quarter Ended January 31, 2010

Total Net Investment Income

$2,227,106

$2,136,464

$2,226,449

Per Share

$0.26

$0.25

$0.26

Total Net Realized/  Unrealized Gain/(Loss)

($13,196,377)

$1,160,652

$20,172

Per Share

($1.55)

$0.14

$0.00

* Total net assets include assets attributable to both common and preferred shares.

Alliance California Municipal Income Fund, Inc. is managed by AllianceBernstein L.P.

SOURCE Alliance California Municipal Income Fund, Inc.