Alliance New York Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Oct. 23 /PRNewswire-FirstCall/ -- Alliance New York Municipal Income Fund, Inc. (NYSE: AYN) (the "Fund") today released its monthly portfolio update as of September 30, 2009.

                  Alliance New York Municipal Income Fund, Inc.

    Top 10 Fixed-Income Holdings

                                                           Portfolio %
        1)New York St Mortgage Agy SFMR (New York St             9.56%
          Mortgage Agy) Series 01-29 5.45%, 4/01/31
        2)Metropolitan Trnsp Auth NY Series 02A 5.125%,          4.88%
          11/15/31
        3)New York St UDC Series 02A 5.25%, 3/15/32              4.79%
          (Prerefunded/ETM)
        4)New York NY GO Series 01B 5.50%, 12/01/31              4.78%
          (Prerefunded/ETM)
        5)New York St Dormitory Auth (Maimonides Med             4.65%
          Ctr) MBIA Series 04 5.75%, 8/01/29
        6)New York NY Trst for Cult Res (Museum of               4.47%
          Modern Art) AMBAC Series 01D 5.125%, 7/01/31
        7)New York NY Mun Wtr Fin Auth Series 02A                4.46%
          5.125%, 6/15/34
        8)Puerto Rico GO 5.50%, 8/01/28                          3.71%
        9)Tobacco Settlement Fin Corp. NY (New York St           3.68%
          Lease Tobacco Asset Sec) AMBAC Series 03A-1
          5.25%, 6/01/21
       10)Puerto Rico Hwy & Trnsp Auth Series 02D                3.14%
          5.375%, 7/01/36 (Prerefunded/ETM)


       Sector/Industry Breakdown
                                                          Portfolio %
            Prerefunded/ETM                                    25.42%
            Health Care - Not-for-Profit                       12.55%
            Housing - Single Family                            11.03%
            Water & Sewer                                       7.95%
            Special Tax                                         6.80%
            Toll Roads/Transit                                  5.55%
            Money Market                                        4.53%
            Revenue - Miscellaneous                             4.47%
            Tax-Supported State Lease                           4.21%
            Housing - Multi-Family                              2.91%
            Higher Education - Private                          2.85%
            Assessment District                                 2.15%
            Industrial Development - Airline                    2.13%
            Local G.O.                                          1.99%
            Electric Utility                                    1.93%
            State G.O.                                          1.79%
            Insured                                             1.16%
            Primary/Secondary Ed. - Private                     0.30%
            Health Care - Municipal                             0.26%
            Short Term - Time Deposit                           0.02%
            Total                                             100.00%


            State Breakdown
                                                          Portfolio %
            New York                                           82.50%
            Puerto Rico                                        12.73%
            Florida                                             2.88%
            California                                          0.87%
            Colorado                                            0.31%
            Pennsylvania                                        0.25%
            Ohio                                                0.24%
            Illinois                                            0.20%
            N/A                                                 0.02%
            Total                                             100.00%



                 Credit Quality Breakdown
                                                          Portfolio %
                    AAA                                        51.95%
                    AA                                         19.67%
                    A                                          20.35%
                    BBB                                         4.14%
                    BB                                          2.87%
                    B                                           0.83%
                    A-1+                                        0.02%
                    A-1                                         0.17%
                    Total Investments                         100.00%

         Portfolio Statistics:
              AMT Percentage:                17.00%
              Average Coupon:                5.01%
              Percentage of Leverage:
                 Bank Loans:                 0.00%
                 Investment Operations:      0.59%
                 Preferred Stock:            25.86%
     Tender Option Bonds:        2.66%
              Total:                         29.11%*

              Avg. Maturity:                 13.70 Years
              Duration:                      4.20 Years
              Total Net Assets:              $111.8 Million
              Net Asset Value:               $14.71
              Number of Holdings:            65

* The total percentage of leverage constitutes 25.86% in issued and outstanding preferred stock and 3.25% in investment operations, which may include the use of certain portfolio management techniques such as tender option bonds, 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.