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

Dec 30, 2010, 16:06 ET from Alliance New York Municipal Income Fund, Inc.

NEW YORK, Dec. 30, 2010 /PRNewswire-FirstCall/ -- Alliance New York Municipal Income Fund, Inc. (NYSE: AYN), a registered closedend investment company, today announced earnings for the Fund's fourth fiscal quarter ended October 31, 2010.

Total net assets of the Fund* on October 31, 2010 were $111,905,530, as compared with $111,622,565 on July 31, 2010 and $110,415,698 on October 31, 2009.  On October 31, 2010, the net asset value per share of common stock was $14.73 based on 4,827,532 shares of common stock outstanding.

October 31, 2010

July 31, 2010

October 31, 2009

Total Net Assets

$111,905,530

$111,622,565

$110,415,698

NAV Per Share

$14.73

$14.67

$14.42

Shares Outstanding

4,827,532

4,826,667

4,826,667

For the period August 1, 2010 through October 31, 2010, total net investment income was $1,209,153 or $0.25 per share of common stock.  The total net realized and unrealized gain was $131,788 or $0.03 per share of common stock for the same period.

Fourth Quarter

Ended

October 31, 2010

Third Quarter

Ended

July 31, 2010

Fourth Quarter

Ended

October 31, 2009

Total Net Investment

 Income

$1,209,153

$1,201,688

$1,202,982

Per Share

$0.25

$0.25

$0.25

Total Net Realized/

 Unrealized Gain/(Loss)

$131,788

$38,881

$1,881,414

Per Share

$0.03

$0.01

$0.39

* 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.