Alliance California Municipal Income Fund Releases Monthly Portfolio Update

Mar 29, 2011, 16:06 ET from Alliance California Municipal Income Fund, Inc.

NEW YORK, March 29, 2011 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of February 28, 2011.

Alliance California Municipal Income Fund, Inc.

Top 10 Fixed-Income Holdings

Portfolio %

1)

Los Angeles CA USD GO     NPFGC Series 02E

5.125%,     1/01/27     (Prerefunded/ETM)

5.52%

2)

California GO     5.25%,     4/01/30

(Prerefunded/ETM)

4.83%

3)

Los Angeles CA Wstwtr Sys     5.00%,     6/01/26

4.30%

4)

Los Angeles CA Dept W&P Pwr     NPFGC-RE Series

01A     5.125%,     7/01/41

3.90%

5)

Palo Alto CA Univ Ave AD     Series 02A     5.875%,

9/02/30

3.89%

6)

Puerto Rico Hwy & Trnsp Auth     Series 02D

5.375%,     7/01/36     (Prerefunded/ETM)

3.56%

7)

Los Angeles CA Cmnty Redev Agy     (Los Angeles CA

CRA Grand Ctrl)     AMBAC Series 02     5.375%,

12/01/26

3.44%

8)

California Infra & Eco Dev Bk     (YMCA of Metro

Los Angeles)     AMBAC Series 01     5.25%,     2/01/32

2.96%

9)

Los Angeles CA Harbor Dept     5.00%,     8/01/26

2.95%

10)

Temecula CA Redev Agy     NPFGC Series 02     5.25%,

8/01/36

2.61%

Sector/Industry Breakdown

Portfolio %

Prerefunded/ETM

19.68%

Special Tax

13.07%

Water & Sewer

9.14%

Insured

8.21%

Health Care - Not-for-Profit

7.99%

Revenue - Miscellaneous

5.70%

Assessment District

5.39%

Port

5.11%

Tax-Supported Local Lease

3.88%

Local G.O.

3.54%

Airport

3.34%

Housing - Multi-Family

2.98%

Electric Utility

2.72%

State G.O.

2.26%

Toll Roads/Transit

2.16%

Higher Education - Private

1.73%

Tax-Supported State Lease

1.65%

Primary/Secondary Ed. - Private

1.23%

Industrial Development - Utility

0.22%

Total

100.00%

State Breakdown

Portfolio %

California

91.36%

Puerto Rico

7.32%

Nevada

1.10%

Ohio

0.22%

Total Investments

100.00%

    Credit Quality Breakdown

Portfolio %

         AAA

9.51%

         AAA(Pre-refunded Bonds)

19.71%

         AA

32.79%

         A

25.54%

         BBB

9.68%

         Not Rated

2.77%

         Total Investments

100.00%

Portfolio Statistics:

    AMT Percentage:

12.16%

    Average Coupon:

5.24%

    Percentage of Leverage:

         Bank Borrowing:

0.00%

         Investment Operations:

0.00%

         Preferred Stock:

38.77%

         Tender Option Bonds:

4.52%

         Term Asset-Backed Loans Facility (TALF):

0.00%

         Total Fund Leverage:

43.29%*

    Average Maturity:

11.00 Years

    Effective Duration:

7.43 Years

    Total Net

    Assets:

$187.1 Million**

    Common Stock Net Asset Value:

$13.42

    Number of Holdings:

75

* The total percentage of leverage constitutes 4.52% through the use of tender option bonds, 38.77% 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.