Alliance New York Municipal Income Fund, Inc. Reports First Quarter Earnings

Mar 25, 2011, 16:06 ET from Alliance New York Municipal Income Fund, Inc.

NEW YORK, March 25, 2011 /PRNewswire/ -- Alliance New York Municipal Income Fund, Inc. (NYSE: AYN), a registered closedend investment company, today announced earnings for the Fund's first fiscal quarter ended January 31, 2011.

Total net assets of the Fund* on January 31, 2011 were $107,707,828, as compared with $111,905,530 on October 31, 2010 and $110,593,022 on January 31, 2010.  On January 31, 2011, the net asset value per share of common stock was $13.86 based on 4,828,621 shares of common stock outstanding.

January 31, 2011

October 31, 2010

January 31, 2010

Total Net Assets

$107,707,828

$111,905,530

$110,593,022

NAV Per Share

$13.86

$14.73

$14.46

Shares Outstanding

4,828,621

4,827,532

4,826,667

For the period November 1, 2010 through January 31, 2011 total net investment income was $1,173,286 or $0.24 per share of common stock. The total net realized and unrealized loss was $4,317,980 or $0.89 per share of common stock for the same period.

First Quarter

Ended

January 31, 2011

Fourth Quarter

Ended

October 31, 2010

First Quarter

Ended

January 31, 2010

Total Net Investment

 Income

$1,173,286

$1,209,153

$1,238,913

Per Share

$0.24

$0.25

$0.26

Total Net Realized/

 Unrealized Gain/(Loss)

($4,317,980)

$131,788

($19,496)

Per Share

($0.89)

$0.03

($0.00)

* Total net assets include assets attributable to both common and preferred shares.

Alliance New York Municipal Income Fund, Inc. is managed by AllianceBernstein L.P.

SOURCE Alliance New York Municipal Income Fund, Inc.