Press Release

Alliance New York Municipal Income Fund Releases Monthly Portfolio Update

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Posted 19 November 2008 @ 04:06 pm ET

NEW YORK, Nov. 19 /PRNewswire-FirstCall/ -- Alliance New York Municipal Income Fund, Inc. (NYSE: AYN) (the "Fund") today released its monthly portfolio update as of October 31, 2008.



Alliance New York Municipal Income Fund, Inc. Top 10 Fixed-Income Holdings Portfolio% 1) New York St Mtg Agy SFMR (Mtg Rev) AMT Series 01-29 5.45% 4/01/31 8.26% 2) New York City (Prerefunded) Series 01B 5.50% 12/01/31 5.19% 3) New York St Urban Dev Corp (Personal Income Tax) (Prerefunded) Series 02A 5.25% 3/15/32 5.13% 4) New York St Dorm Auth (FHA Insured Maimonides) MBIA Series 04 5.75% 8/01/29 4.95% 5) Metro Transp Auth Dedicated Tax Fund Series 02A 5.125% 11/15/31 4.77% 6) New York City Trust for Cultural Res (Museum of Modern Art) AMBAC Series 01D 5.125% 7/01/31 4.60% 7) New York City Muni Wtr Fin Auth Series 02A 5.125% 6/15/34 4.55% 8) Triborough Brdg & Tunnel Auth (Prerefunded) Series 01A 5.00% 1/01/32 4.32% 9) New York St Tobacco Settlement Fin Corp. AMBAC Series 03A-1 5.25% 6/01/21 3.83% 10) Puerto Rico Hwy & Transp Auth (Prerefunded) Series 02D 5.375% 7/01/36 3.30% Sector/Industry Breakdown Portfolio% Hospital/Health Care 16.04% Transportation 15.63% Community Facility 10.70% General Obligation 9.90% Housing-Mortgages 9.64% Water/SWR 8.53% Corporate - Utility (Electric) 6.55% Education 4.32% Continuing Care Facility 3.99% Miscellaneous 3.83% Higher Education 2.99% Housing-Rental Units 2.55% Corporate - Utility (Water) 2.23% Assessment District 1.04% Airport Facility 0.72% COP/Lease Rental 0.51% Port Facility 0.42% Special Tax 0.41% Total 100.00% State Breakdown Portfolio% New York 85.47% Puerto Rico 9.27% Florida 3.15% California 0.85% Illinois 0.42% Colorado 0.36% Ohio 0.25% Pennsylvania 0.23% Total 100.00% Credit Quality Breakdown Portfolio% AAA 54.06% AA 27.63% A 10.20% BBB 3.80% BB 3.42% B 0.89% Total Investments 100.00% Portfolio Statistics AMT Percentage: 15.19% Average Coupon: 5.19% Percentage of Leverage: Bank Loans: 0% Investment Operations: 1.16% Preferred Stock: 28.14% Total: 29.30%* Avg. Maturity: 12.95 Years Duration: 7.25 Years Total Net Assets: $102.5 Million Net Asset Value: $12.79 Number of Holdings: 65

* The total percentage of leverage constitutes 28.14% in issued and outstanding preferred stock and 1.16% 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.

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 New York Municipal Income Fund, Inc.


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