Alliance California Municipal Income Fund Releases Monthly Portfolio Update

Oct 26, 2010, 16:06 ET from Alliance California Municipal Income Fund, Inc.

NEW YORK, Oct. 26 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc.(NYSE: AKP) (the "Fund") today released its monthly portfolio update as of September 30, 2010.

    
    
    Alliance California Municipal Income Fund, Inc. 
    
    Top 10 Fixed-Income Holdings 
                                                                 Portfolio %
    1) Los Angeles CA USD GO     NPFGC Series 02E                      5.46%
        5.125%, 1/01/27 (Prerefunded/ETM)
    2) Los Angeles CA Dept W&P Pwr     NPFGC-RE Series                 5.09%
        01A 5.125%, 7/01/41
    3) California GO 5.25%, 4/01/30                                    4.78%
        (Prerefunded/ETM)
    4) Palo Alto CA Univ Ave AD Series 02A 5.875%,                     4.06%
        9/02/30
    5) Puerto Rico Hwy & Trnsp Auth Series 02D                         3.52%
        5.375%, 7/01/36 (Prerefunded/ETM)
    6) Los Angeles CA Cmnty Redev Agy (Los Angeles CA                  3.35%
        CRA Grand Ctrl) AMBAC Series 02 5.375%,
        12/01/26
    7) California Infra & Eco Dev Bk (YMCA of Metro                    3.19%
        Los Angeles) AMBAC Series 01 5.25%, 2/01/32
    8) Los Angeles CA Harbor Dept 5.00%, 8/01/26                       3.14%
    9) Temecula CA Redev Agy     NPFGC Series 02 5.25%,                 3.00%
        8/01/36
    10) California Hlth Fac Fin Auth (Sutter Health)                   2.55%
         Series 00A 6.25%, 8/15/35
    
    Sector/Industry Breakdown
                                                                   Portfolio %
      Prerefunded/ETM                                                   19.52%
      Special Tax                                                       13.91%
      Insured                                                            8.47%
      Health Care - Not-for-Profit                                       8.02%
      Water & Sewer                                                      6.29%
      Revenue - Miscellaneous                                            6.16%
      Airport                                                            5.84%
      Assessment District                                                5.07%
      Tax-Supported Local Lease                                          4.63%
      Local G.O.                                                         3.67%
      Port                                                               3.14%
      Housing - Multi-Family                                             2.96%
      Electric Utility                                                   2.93%
      State G.O.                                                         2.30%
      Toll Roads/Transit                                                 2.30%
      Higher Education - Private                                         1.78%
      Tax-Supported State Lease                                          1.77%
      Primary/Secondary Ed. - Private                                    1.24%
      Total                                                            100.00%
     
    State Breakdown
                                                                   Portfolio %
    California                                                          91.35%
    Puerto Rico                                                          7.30%
    Nevada                                                               1.12%
    Ohio                                                                 0.23%
    Total Investments                                                  100.00%
    
        Credit Quality Breakdown
                                                                   Portfolio %
          AAA                                                           11.43%
          AAA(Pre-refunded Bonds)                                       19.52%
          AA                                                            28.56%
          A                                                             29.77%
          BBB                                                            7.88%
          N/R                                                            2.84%
          Total Investments                                            100.00%
    
      Portfolio Statistics:
        AMT Percentage:                                                 12.14%
        Average Coupon:                                                  4.94%
        Percentage of Leverage:
          Bank Borrowing:                                                0.00%
          Investment Operations:                                         3.37%
          Preferred Stock:                                              36.46%
          Tender Option Bonds:                                           4.25%
          Term Asset-Backed Loans Facility (TALF):                       0.00%
          Total Fund Leverage:                                         44.08%*
        Average Maturity:                                           7.08 Years
        Effective Duration:                                         4.92 Years
        Total Net Assets:                                     $199.0 Million**
        Common Stock Net Asset Value:                                   $14.81
        Number of Holdings:                                                 74
    
    The total percentage of leverage constitutes 4.25% through the use of 
    tender option bonds, 36.46% in issued and outstanding preferred stock 
    and 3.37% 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.