Alliance New York Municipal Income Fund Releases Monthly Portfolio Update

NEW YORK, Nov. 23 /PRNewswire-FirstCall/ -- Alliance New York Municipal Income Fund, Inc. (NYSE: AYN) (the "Fund") today released its monthly portfolio update as of October 31, 2009.

             Alliance New York Municipal Income Fund, Inc.

     Top 10 Fixed-Income Holdings

                                                       Portfolio %
    1)New York St Mortgage Agy SFMR (New York St             9.62%
      Mortgage Agy) Series 01-29 5.45%, 4/01/31
    2)Metropolitan Trnsp Auth NY Series 02A 5.125%,          4.86%
      11/15/31
    3)New York St UDC Series 02A 5.25%, 3/15/32              4.82%
      (Prerefunded/ETM)
    4)New York NY GO Series 01B 5.50%, 12/01/31              4.80%
      (Prerefunded/ETM)
    5)New York St Dormitory Auth (Maimonides Med             4.64%
      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)Tobacco Settlement Fin Corp. NY (New York St           3.65%
      Lease Tobacco Asset Sec) AMBAC Series 03A-1
      5.25%, 6/01/21
    9)Puerto Rico GO 5.50%, 8/01/28                          3.62%
   10)Puerto Rico Hwy & Trnsp Auth Series 02D                3.14%
      5.375%, 7/01/36 (Prerefunded/ETM)


   Sector/Industry Breakdown
                                                      Portfolio %
        Prerefunded/ETM                                    25.53%
        Health Care - Not-for-Profit                       12.53%
        Housing - Single Family                            11.10%
        Water & Sewer                                       7.91%
        Special Tax                                         7.03%
        Toll Roads/Transit                                  5.53%
        Revenue - Miscellaneous                             4.47%
        Money Market                                        4.40%
        Tax-Supported State Lease                           4.17%
        Housing - Multi-Family                              2.90%
        Higher Education - Private                          2.84%
        Assessment District                                 2.17%
        Industrial Development - Airline                    2.12%
        Local G.O.                                          1.98%
        Electric Utility                                    1.88%
        State G.O.                                          1.72%
        Insured                                             1.16%
        Primary/Secondary Ed. - Private                     0.30%
        Health Care - Municipal                             0.26%
        Total                                             100.00%


        State Breakdown
                                                      Portfolio %
        New York                                           82.24%
        Puerto Rico                                        12.65%
        Florida                                             2.89%
        California                                          1.21%
        Colorado                                            0.33%
        Pennsylvania                                        0.25%
        Ohio                                                0.23%
        Illinois                                            0.20%
        Total                                             100.00%


             Credit Quality Breakdown
                                                      Portfolio %
                AAA                                        51.95%
                AA                                         19.52%
                A                                          20.53%
                BBB                                         4.11%
                BB                                          2.87%
                B                                           0.84%
                A-1                                         0.18%
                Total Investments                         100.00%

     Portfolio Statistics:
          AMT Percentage:                17.00%
          Average Coupon:                 5.50%
          Percentage of Leverage:
             Bank Loans:                  0.00%
             Investment Operations:       3.31%
             Preferred Stock:            26.09%
          Total:                         29.40%*

          Avg. Maturity:                 6.73 Years
          Duration:                      4.49 Years
          Total Net Assets:              $110.4 Million
          Net Asset Value:               $14.42
          Number of Holdings:            65

* The total percentage of leverage constitutes 26.09% in issued and outstanding preferred stock and 3.31% 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.