Alliance California Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Aug. 25 /PRNewswire-FirstCall/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of July 31, 2010.

    
    
             Alliance California Municipal Income Fund, Inc.
    
    Top 10 Fixed-Income Holdings                         Portfolio %
       1)  Los Angeles CA USD GO   NPFGC Series 02E            5.41%
           5.125%,   1/01/27  (Prerefunded/ETM)      
       2)  Los Angeles CA Dept W&P Pwr   NPFGC-RE Series       4.99%
           01A   5.125%,   7/01/41
       3)  California GO   5.25%,   4/01/30                    4.74%
           (Prerefunded/ETM)      
       4)  Palo Alto CA Univ Ave AD   Series 02A   5.875%,     3.89%
           9/02/30
       5)  Puerto Rico Hwy & Trnsp Auth   Series 02D           3.49%
           5.375%,   7/01/36  (Prerefunded/ETM)      
       6)  Los Angeles CA Cmnty Redev Agy   (Los Angeles CA    3.29%
           CRA Grand Ctrl) AMBAC Series 02   5.375%,
           12/01/26      
       7)  California Infra & Eco Dev Bk   (YMCA of Metro      3.06%
           Los Angeles) AMBAC Series 01   5.25%,  2/01/32
       8)  Los Angeles CA Harbor Dept   5.00%,  8/01/26        2.97% 
       9)  Temecula CA Redev Agy   NPFGC Series 02  5.25%,     2.84%
           8/01/36      
      10)  California Hlth Fac Fin Auth   (Sutter Health)      2.51%
           Series 00A   6.25%,   8/15/35
    
    
    Sector/Industry Breakdown                            Portfolio %
      Prerefunded/ETM                                         19.35%
      Special Tax                                             13.45%
      Insured                                                  8.15%
      Health Care - Not-for-Profit                             7.84%
      Tax-Supported Local Lease                                6.96%
      Water & Sewer                                            6.14%
      Revenue - Miscellaneous                                  5.76%
      Airport                                                  5.58%
      Assessment District                                      4.87%
      State G.O.                                               4.21%
      Local G.O.                                               3.51%
      Port                                                     2.97%
      Housing - Multi-Family                                   2.90%
      Toll Roads/Transit                                       2.19%
      Higher Education - Private                               1.73%
      Tax-Supported State Lease                                1.63%
      Primary/Secondary Ed. - Private                          1.42%
      Electric Utility                                         1.34%
      Total                                                  100.00%
    
      State Breakdown                                    Portfolio %
      California                                              91.51%
      Puerto Rico                                              7.19%
      Nevada                                                   1.08%
      Ohio                                                     0.22%
      Total Investments                                      100.00%
    
    
           Credit Quality Breakdown                      Portfolio %
               AAA                                            11.04%
               AAA(Pre-refunded Bonds)                        19.36%
               AA                                             30.62%
               A                                              28.43%
               BBB                                             7.59%
               N/R                                             2.96%
               Total Investments                             100.00%
    
    
      Portfolio Statistics:
         AMT Percentage:                                      14.32%
         Average Coupon:                                       4.96%
         Percentage of Leverage:
             Bank Borrowing:                                   0.00%
             Investment Operations:                            0.00%
             Preferred Stock:                                 36.92%
             Tender Option Bonds:                              4.30%
             Term Asset-Backed Loans Facility (TALF):          0.00%
             Total Fund Leverage:                             41.22%*
         Average Maturity:                                8.61 Years
         Effective Duration:                              5.83 Years
         Total Net Assets:                            $196.5 Million**
         Common Stock Net Asset Value:                        $14.52
         Number of Holdings:                                      75

* The total percentage of leverage constitutes 4.30% through the use of tender option bonds, 36.92% in issued and outstanding preferred stock and 0.00% 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 72,550,000 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 Alliance California Municipal Income Fund, Inc.