Alliance California Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, July 28 /PRNewswire-FirstCall/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of June 30, 2010.

    
    
                   Alliance California Municipal Income Fund, Inc.
           
           Top 10 Fixed-Income Holdings                      Portfolio%
                                                                          
    
    1)    Los Angeles CA USD GO NPFGC Series 02E             5.39%
           5.125%, 1/01/27 (Prerefunded/ETM)
    
    2)    Los Angeles CA Dept W&P Pwr NPFGC-RE               4.96%
           Series 01A  5.125%, 7/01/41 
    
    3)    California GO 5.25%, 4/01/30                       4.72%
          (Prerefunded/ETM)
    
    4)    Palo Alto CA Univ Ave AD Series 02A                3.85%
           5.875%, 9/02/30 
    
    5)    Puerto Rico Hwy & Trnsp Auth Series 02D            3.47%
           5.375%, 7/01/36 (Prerefunded/ETM)
    
    6)    Los Angeles CA Cmnty Redev Agy                     3.28%
           (Los Angeles CA CRA Grand Ctrl)AMBAC 
           Series 02 5.375%, 12/01/26 
    
    7)    California Infra & Eco Dev Bk                      3.01%
           (YMCA of Metro Los Angeles) AMBAC 
           Series 01  5.25%,  2/01/32 
    
    8)    Los Angeles CA Harbor Dept                         2.92%
           5.00%, 8/01/26 
    
    9)    Temecula CA Redev Agy                              2.80%
           NPFGC Series 02  5.25%, 8/01/36 
    
    10)   California Hlth Fac Fin Auth                       2.50%
           (Sutter Health)Series 00A  
           6.25%, 8/15/35 
          
    
    
    Sector/Industry Breakdown                            Portfolio%
                                            
    Prerefunded/ETM                                      19.24%
    Special Tax                                          13.29%
    Airport/Ports                                        8.42%
    Insured                                              8.00%
    Health Care - Not-for-Profit                         7.77%
    Tax-Supported Local Lease                            6.88%
    Water & Sewer                                        6.09%
    Revenue – Miscellaneous                              5.65%
    Assessment District                                  4.81%
    State G.O.                                           4.15%
    Local G.O.                                           3.45%
    Housing - Multi-Family                               2.88%
    Primary/Secondary Ed. – Private                      2.63%
    Toll Roads/Transit                                   2.11%
    Higher Education – Private                           1.71%
    Tax-Supported State Lease                            1.60%
    Electric Utility                                     1.32%
    Total                                                100.00%
    
    
    State Breakdown                                      Portfolio %
                                                          
    California                                           91.58%
    Puerto Rico                                          7.15%
    Nevada                                               1.06%
    Ohio                                                 0.21%
    Total Investments                                    100.00%
    
    
    Credit Quality Breakdown                            Portfolio %
    
            AAA                                              10.88%
            AAA(Pre-refunded Bonds)                          19.26%
            AA                                               30.25%
            A                                                27.95%
            BBB                                               7.51%
            N/R                                               4.15%
            Total Investments                               100.00%
    
    
       
    Portfolio Statistics
           AMT Percentage:                 14.26% 
           Average Coupon:                 5.06% 
           Percentage of Leverage:
                  Bank Loans:              0.00%
                  Investment Operations:   7.79%
                  Preferred Stock:         37.20%
           Total Fund Leverage:            44.99%*
    
           Avg. Maturity:                  9.70 Years
           Effective Duration:             6.38 Years
           Total Net Assets:               $195.0 Million**
           Common Stock Net Asset Value:   $14.35
           Number of Holdings:             76

* The total percentage of leverage constitutes 37.20% in issued and outstanding preferred stock and 7.79% 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.