Alliance California Municipal Income Fund Releases Monthly Portfolio Update

Jun 29, 2010, 16:06 ET from Alliance California Municipal Income Fund, Inc.

NEW YORK, June 29 /PRNewswire-FirstCall/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of May 31, 2010.

    
    
              Alliance California Municipal Income Fund, Inc.
    
           Top 10 Fixed-Income Holdings
                                                            Portfolio%
        1)Los Angeles CA USD GO NPFGC Series 02E                 5.35%
          5.125%, 1/01/27 (Prerefunded/ETM)
        2)Los Angeles CA Dept W&P Pwr NPFGC-RE Series            4.92%
          01A 5.125%, 7/01/41
        3)California GO 5.25%, 4/01/30                           4.69%
          (Prerefunded/ETM)
        4)Palo Alto CA Univ Ave AD Series 02A 5.875%,            3.73%
          9/02/30
        5)Puerto Rico Hwy & Trnsp Auth Series 02D                3.45%
          5.375%, 7/01/36 (Prerefunded/ETM)
        6)Los Angeles CA Cmnty Redev Agy (Los Angeles            3.24%
          CA CRA Grand Ctrl) AMBAC Series 02 5.375%,
          12/01/26
        7)California Infra & Eco Dev Bk (YMCA of Metro           2.99%
          Los Angeles) AMBAC Series 01 5.25%, 2/01/32
        8)Los Angeles CA Harbor Dept 5.00%, 8/01/26              2.90%
        9)Temecula CA Redev Agy NPFGC Series 02 5.25%,           2.79%
          8/01/36
       10)California Hlth Fac Fin Auth (Sutter Health)           2.47%
          Series 00A 6.25%, 8/15/35
          
    
    
          Sector/Industry Breakdown
                                                            Portfolio%
            Prerefunded/ETM                                     19.10%
            Special Tax                                         13.18%
            Airport/Ports                                        8.38%
            Health Care - Not-for-Profit                         7.70%
            Tax-Supported Local Lease                            6.82%
            Higher Education                                     6.34%
            Water & Sewer                                        6.04%
            Revenue - Miscellaneous                              5.60%
            Housing - Multi-Family                               5.07%
            Assessment District                                  4.69%
            State G.O.                                           4.13%
            Local G.O.                                           3.46%
            Toll Roads/Transit                                   2.09%
            Higher Education - Private                           1.82%
            Tax-Supported State Lease                            1.60%
            Insured                                              1.59%
            Electric Utility                                     1.32%
            Primary/Secondary Ed. - Private                      1.07%
            Total                                              100.00%
    
            State Breakdown
                                                           Portfolio %
            California                                          91.64%
            Puerto Rico                                          7.10%
            Nevada                                               1.05%
            Ohio                                                 0.21%
            Total                                              100.00%
    
    
    
    
           Credit Quality Breakdown
                                                           Portfolio %
                    AAA                                         37.02%
                    AA                                          25.16%
                    A                                           27.75%
                    BBB                                          8.79%
                    BB                                           1.28%
                    Total Investments                          100.00%
    
       
           Portfolio Statistics
           AMT Percentage:                 16.59% 
           Average Coupon:                  4.11% 
           Percentage of Leverage:
               Bank Loans:                  0.00%
               Investment Operations:       5.62%
               Preferred Stock:            37.19%
           Total Fund Leverage:            42.81%*
    
           Avg. Maturity:                  9.47 Years
           Effective Duration:             6.30 Years
           Total Net Assets:               $195.1 Million**
           Common Stock Net Asset Value:   $14.35
           Number of Holdings:             75

* The total percentage of leverage constitutes 37.19% in issued and outstanding preferred stock and 5.62% in investment operations, which may include the use of certain portfolio management techniques such as tender option bonds, 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.