AMO Merrill Lynch

NEW YORK, Dec. 20 /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. (NYSE:AMO) (the "Fund") today released its monthly portfolio update as of November 30, 2007. Alliance All-Market Advantage Fund, Inc. Top 10 Equity Holdings Portfolio% Country 1) Google Inc-cl A 6.77% United States 2) Apple Inc 6.26% United States 3) Cisco Systems Inc 4.31% United States 4) Schlumberger Ltd 3.34% Netherland Antilles 5) Gilead Sciences Inc 3.30% United States 6) Hewlett-Packard Co 3.26% United States 7) Franklin Resources Inc 3.25% United States 8) Monsanto Co 3.24% United States 9) Abbott Laboratories 3.08% United States 10) Baker Hughes Inc 2.89% United States Sector/Industry Breakdown Portfolio% Technology: Computer Hardware/Storage 10.37% Communication Equipment 7.99% Semiconductor Components 4.99% Software 2.88% SUBTOTAL 26.23% Healthcare: Biotechnology 6.77% Medical Products 6.19% Medical Services 4.12% Drugs 1.45% SUBTOTAL 18.53% Consumer Services: Miscellaneous 6.77% Retail - General Merchandise 2.08% Restaurants & Lodging 1.43% Cellular Communications 1.08% Broadcasting & Cable 0.66% SUBTOTAL 12.02% Finance: Brokerage & Money Management 6.33% Miscellaneous 3.63% SUBTOTAL 9.96% Energy: Oil Service 6.88% Domestic Producers 1.33% SUBTOTAL 8.21% Consumer Staples: Household Products 3.05% Beverages 1.68% Food 1.48% SUBTOTAL 6.21% Capital Goods: Machinery 2.77% Engineering & Construction 1.76% Electrical Equipment 1.06% Miscellaneous 0.37% SUBTOTAL 5.96% Basic Industry 5.42% Multi Industry Companies 4.79% Aerospace & Defense 2.32% Short-term 0.35% Total 100.00% Security Type Breakdown Portfolio% Domestic Equity 87.03% Foreign Equity 12.62% Short-term 0.35% Total 100.00% Country Breakdown Portfolio% United States 87.03% Netherland Antilles 3.34% Switzerland 3.32% Canada 1.90% Finland 1.78% Israel 1.20% Mexico 1.08% Short-term 0.35% Total 100.00% Portfolio Statistics Total Net Assets: $50.5 Million Net Asset Value: $13.64 Number of Holdings: 57 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. DATASOURCE: Alliance All-Market Advantage Fund, Inc. CONTACT: Shareholder Contact: +1-800-221-5672 Web site: http://www.alliancebernstein.com/

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