AMO Merrill Lynch

NEW YORK, Aug. 29 /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. (NYSE:AMO), a registered closed-end investment company, today announced earnings for the third quarter ended June 30, 2007. Total net assets of the Fund on June 30, 2007 were $48,777,840 as compared with $47,464,400 on March 31, 2007 and $47,540,021 on June 30, 2006. On June 30, 2007 the net asset value per share was $13.18 based on 3,700,669 shares outstanding. June 30, 2007 March 31, 2007 June 30, 2006 Total Net Assets $48,777,840 $47,464,400 $47,540,021 NAV Per Share $13.18 $12.84 $12.89 Shares Outstanding 3,700,669 3,697,685 3,687,129 For the period April 1, 2007 through June 30, 2007, total net operating loss was $98,211 or $0.03 per share. The total net realized and unrealized loss was $2,559,315 or $0.69 per share for the same period. Third Quarter Second Quarter Third Quarter Ended Ended Ended June 30, 2007 March 31, 2007 June 30, 2006 Total Net Investment Income (Loss) ($98,211) ($186,044) ($174,747) Per Share ($0.03) ($0.05) ($0.05) Total Net Realized/ Unrealized Gain/(Loss) $2,559,315 $424,209 ($4,000,041) Per Share $.69 $0.12 ($1.08) Alliance All-Market Advantage Fund, Inc. is managed 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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