Alliance California Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Nov. 23 /PRNewswire-FirstCall/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of

October 31, 2009.

             Alliance California Municipal Income Fund, Inc.

    Top 10 Fixed-Income Holdings
                                                            Portfolio%
    1) Los Angeles CA USD GO MBIA Series 02E 5.125%,           5.54%
       1/01/27 (Prerefunded/ETM)
    2) Los Angeles CA Dept W&P Pwr MBIA-RE Series              5.04%
       01A 5.125%, 7/01/41
    3) California GO 5.25%, 4/01/30                            4.88%
       (Prerefunded/ETM)
    4) Palo Alto CA Univ Ave AD Series 02A 5.875%,             3.68%
       9/02/30
    5) Puerto Rico Hwy & Trnsp Auth Series 02D                 3.57%
       5.375%, 7/01/36 (Prerefunded/ETM)
    6) Puerto Rico Elec Pwr Auth XLCA Series 02-2              3.36%
       5.25%, 7/01/31 (Prerefunded/ETM)
    7) Los Angeles CA Cmnty Redev Agy (Los Angeles             3.32%
       CA CRA Grand Ctrl) AMBAC Series 02 5.375%,
       12/01/26
    8) California Infra & Eco Dev Bk (YMCA of Metro            2.95%
       Los Angeles) AMBAC Series 01 5.25%, 2/01/32
    9) Los Angeles CA Harbor Dept 5.00%, 8/01/26               2.94%
    10)Temecula CA Redev Agy MBIA Series 02 5.25%,             2.83%
       8/01/36



      Sector/Industry Breakdown
                                                         Portfolio%
        Prerefunded/ETM                                    23.08%
        Special Tax                                        12.47%
        Health Care - Not-for-Profit                        7.84%
        Airport/Ports                                       6.98%
        Tax-Supported Local Lease                           6.78%
        Higher Education                                    6.36%
        Water & Sewer                                       6.20%
        Housing - Multi-Family                              5.17%
        Revenue - Miscellaneous                             4.76%
        Assessment District                                 4.72%
        State G.O.                                          3.75%
        Local G.O.                                          3.50%
        Toll Roads/Transit                                  3.15%
        Tax-Supported State Lease                           1.89%
        Insured                                             1.54%
        Primary/Secondary Ed. - Private                     1.08%
        Higher Education - Private                          0.73%
        Total                                             100.00%



        State Breakdown
                                                         Portfolio%
        California                                         90.12%
        Puerto Rico                                         8.51%
        Nevada                                              1.01%
        Ohio                                                0.22%
        Colorado                                            0.14%
        Total                                             100.00%



        Credit Quality Breakdown
                                                         Portfolio%
                AAA                                        41.19%
                AA                                         22.40%
                A                                          25.84%
                BBB                                         9.12%
                BB                                          1.45%
                Total Investments                         100.00%



Portfolio Statistics
      AMT Percentage:           16.67%
      Average Coupon:           5.39%
      Percentage of Leverage:
        Bank Loans:             0.00%
        Investment Operations:  3.59%
        Preferred Stock:        26.47%
      Total Fund Leverage:      30.06%*



      Avg. Maturity:          10.73 Years
      Effective Duration:     6.85 Years
      Total Net Assets:       $191.7 Million
      Net Asset Value:        $13.95
      Number of Holdings:     68

* The total percentage of leverage constitutes 26.47% in issued and outstanding preferred stock and 3.59% 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 California Municipal Income Fund, Inc.