Alliance California Municipal Income Fund Releases Monthly Portfolio Update

Sep 27, 2011, 16:06 ET from Alliance California Municipal Income Fund, Inc.

NEW YORK, Sept. 27, 2011 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc.(NYSE: AKP) (the "Fund") today released its monthly portfolio update as of August 31, 2011.

Alliance California Municipal Income Fund, Inc.

Top 10 Fixed-Income Holdings

Portfolio %

1) Los Angeles CA USD GO     NPFGC Series 02E

5.23%

5.125%,  1/01/27  (Prerefunded/ETM)

2) California GO  5.25%,  4/01/30

4.56%

   (Prerefunded/ETM)

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

4.38%

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

4.04%

  9/02/30

5) Los Angeles Cnty CA Met Trnsp Auth  (Los

3.75%

   Angeles Cnty CA MTA Sales Tax)

5.00%,

7/01/25

6) Puerto Rico Hwy & Trnsp Auth  Series 02D

3.38%

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

7) Los Angeles CA Cmnty Redev Agy   (Los Angeles CA

3.34%

   CRA Grand Ctrl) AMBAC Series 02

5.375%,

   12/01/26

8) California Infra & Eco Dev Bk  (YMCA of Metro

3.16%

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

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

3.06%

10) California Hlth Fac Fin Auth  (Sutter Health)

2.52%

     Series 00A  6.25%,  8/15/35

Sector/Industry Breakdown

Portfolio %

Revenue

   Health Care - Not-for-Profit

6.82%

   Revenue - Miscellaneous

6.05%

   Electric Utility

5.61%

   Water & Sewer

5.34%

   Port

5.30%

   Airport

2.92%

   Toll Roads/Transit

1.91%

   Higher Education - Private

1.75%

   Primary/Secondary Ed. - Private

1.21%

   Industrial Development - Utility

0.22%

SUBTOTAL

37.13%

Tax Supported

   Special Tax

10.64%

   Assessment District

5.55%

   Tax-Supported Local Lease

3.88%

   Local G.O.

3.57%

   State G.O.

2.24%

   Tax-Supported State Lease

1.76%

SUBTOTAL

27.64%

Prerefunded/ETM

19.20%

Insured/Guaranteed

   Insured

9.98%

SUBTOTAL

9.98%

Asset-Backed

   Housing - Multi-Family

2.91%

SUBTOTAL

2.91%

Cash Equivalents

   Investment Companies

2.13%

SUBTOTAL

2.13%

Note/VRDBs

   Money Market

1.01%

SUBTOTAL

1.01%

Total

100.00%

State Breakdown

Portfolio %

California

89.53%

Puerto Rico

5.02%

Ohio

2.22%

Nevada

1.10%

Other

2.13%

Total Investments

100.00%

       Credit Quality Breakdown

Portfolio %

         AAA

10.35%

         AAA(Pre-refunded Bonds)

19.20%

         AA

35.56%

         A

19.28%

         BBB

9.70%

         Short Term Investments

3.13%

         Not Rated

2.78%

         Total Investments

100.00%

Portfolio Statistics:

   AMT Percentage:

12.66%

   Average Coupon:

5.29

Percentage of Leverage:

   Bank Borrowing:

0.00%

   Investment Operations:

0.00%

   Preferred Stock:

37.71%

   Tender Option Bonds:

4.39%

   Term Asset-Backed Loans Facility (TALF):

0.00%

   Total Fund Leverage:

42.10%*

Average Maturity:

5.23 Years

Effective Duration:

4.97 Years

Total Net Assets:

$192.37 Million**

Common Stock Net Asset Value:

$14.04

Number of Holdings:

74

* The total percentage of leverage constitutes 4.39% through the use of tender option bonds, 37.71% 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.