AllianceBernstein National Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Oct. 26 /PRNewswire-FirstCall/ -- AllianceBernstein National Municipal Income Fund, Inc.(NYSE: AFB) (the "Fund") today released its monthly portfolio update as of September 30, 2010.

    
    
                  AllianceBernstein National Municipal Income Fund, Inc. 
    
    Top 10 Fixed-Income Holdings                               Portfolio % 
    
        1) Texas Transp Commission     Series 07 5.00%,                3.37%
           4/01/23
        2) Wayne State Univ MI         Series 2009 5.00%,              2.58%
           11/15/29
        3) Chicago IL O'Hare Intl Arpt  (O'Hare Intl Arpt)             2.18%
           NPFGC Series A 5.375%, 1/01/32
        4) Wisconsin Hlth & Ed Fac Auth  (Ministry Health              1.98%
           Care, Inc.) NPFGC Series 02A 5.25%, 2/15/32
        5) Univ of Illinois     AGM Series 07A 5.25%,                  1.68%
           10/01/26
        6) Bexar Cnty TX HFC MFHR  (Doral Club & Sutton                1.67%
           House Apts) NPFGC Series 01A 5.55%, 10/01/36
        7) Indianapolis IN Loc Bond Bank     NPFGC Series 2A           1.56%
           5.25%, 7/01/33 (Prerefunded/ETM)
        8) Twenty Fifth Ave Pptys WA  (Univ of WA Dorm                 1.42%
           25th Ave) NPFGC Series 02 5.25%, 6/01/33
        9) Texas GO Series 02A 5.50%, 8/01/41                          1.40%
       10) Los Angeles CA Regl Arpts  (Laxfuel Corp.)                  1.38%
           AMBAC Series 01 5.50%, 1/01/32
    
    Sector/Industry Breakdown                                   Portfolio %
    
        Prerefunded/ETM                                              11.92%
        Health Care - Not-for-Profit                                 11.34%
        Special Tax                                                   8.21%
        Airport                                                       8.18%
        Insured                                                       7.90%
        Local G.O.                                                    6.21%
        State G.O.                                                    5.57%
        Higher Education - Public                                     4.67%
        Assessment District                                           4.60%
        Revenue - Miscellaneous                                       4.07%
        Housing - Multi-Family                                        2.94%
        Tax-Supported Local Lease                                     2.51%
        Water & Sewer                                                 2.43%
        Guaranteed                                                    2.34%
        Industrial Development - Utility                              2.32%
        Housing - Single Family                                       2.12%
        Industrial Development - Industry                             2.11%
        State Lease                                                   1.68%
        Tax-Supported State Lease                                     1.57%
        Higher Education - Private                                    1.56%
        Industrial Development - Airline                              1.38%
        Student Loan                                                  1.11%
        Senior Living                                                 0.85%
        Health Care - Municipal                                       0.80%
        Prepay Energy                                                 0.62%
        Primary/Secondary Ed. - Public                                0.48%
        Toll Roads/Transit                                            0.27%
        Electric Utility                                              0.24%
        Total                                                       100.00%
    
        State Breakdown                                         Portfolio %
    
        Texas                                                        18.76%
        California                                                   10.77%
        Illinois                                                      8.82%
        Florida                                                       8.03%
        Michigan                                                      5.51%
        Washington                                                    3.69%
        Alabama                                                       3.53%
        Colorado                                                      3.46%
        Wisconsin                                                     3.23%
        New York                                                      2.99%
        Louisiana                                                     2.57%
        Indiana                                                       2.52%
        Nevada                                                        2.46%
        Pennsylvania                                                  2.34%
        Ohio                                                          2.06%
        Massachusetts                                                 1.80%
        South Carolina                                                1.58%
        Alaska                                                        1.52%
        Tennessee                                                     1.48%
        Puerto Rico                                                   1.42%
        Hawaii                                                        1.41%
        Virginia                                                      1.25%
        Arizona                                                       1.04%
        New Jersey                                                    0.90%
        Georgia                                                       0.89%
        Rhode Island                                                  0.84%
        New Hampshire                                                 0.77%
        Oregon                                                        0.70%
        North Carolina                                                0.62%
        Mississippi                                                   0.58%
        District of Columbia                                          0.52%
        Missouri                                                      0.49%
        North Dakota                                                  0.41%
        Minnesota                                                     0.32%
        Arkansas                                                      0.24%
        Utah                                                          0.22%
        Kansas                                                        0.19%
        Iowa                                                          0.07%
        Total Investments                                           100.00%
    
            Credit Quality Breakdown
                                                                Portfolio %
                AAA                                                  24.85%
                AAA(Pre-refunded Bonds)                              11.90%
                AA                                                   19.06%
                A                                                    24.42%
                BBB                                                  13.36%
                BB                                                    1.44%
                N/R                                                   4.97%
                Total Investments                                   100.00%
    
        Portfolio Statistics:
            AMT Percentage:                                          20.43%
            Average Coupon:                                           5.33%
            Percentage of Leverage:
                Bank Borrowing:                                       0.00%
                Investment Operations:                                0.36%
                Preferred Stock:                                     36.73%
                Tender Option Bonds:                                  6.49%
                Term Asset-Backed Loans Facility (TALF):              0.00%
                Total Fund Leverage:                                43.58%*
            Average Maturity:                                    6.90 Years
            Effective Duration:                                  4.93 Years
            Total Net Assets:                              $659.4 Million**
            Common Stock Net Asset Value:                            $14.54
            Number of Holdings:                                         217

* The total percentage of leverage constitutes 6.49% through the use of tender option bonds, 36.73% in issued and outstanding preferred stock and 0.36% 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 242,225,000 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 AllianceBernstein National Municipal Income Fund, Inc.