Alliance California Municipal Income Fund, Inc. Reports Third Quarter Earnings

NEW YORK, Sept. 29 /PRNewswire-FirstCall/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP), a registered closed-end investment company, today announced earnings for the Fund's third fiscal quarter ended July 31, 2009.

Total net assets of the Fund* on July 31, 2009 were $184,647,158 as compared with $184,866,062 on April 30, 2009 and $194,789,259 on July 31, 2008. On July 31, 2009, the net asset value per share of common stock was $13.13 based on 8,536,533 shares of common stock outstanding.

                          July 31, 2009    April 30, 2009     July 31, 2008

    Total Net Assets       $184,647,158      $184,866,062      $194,789,259
    NAV Per Share                $13.13            $13.16            $14.32
    Shares Outstanding        8,536,533         8,536,533         8,536,533

For the period May 1, 2009 through July 31, 2009, total net investment income was $2,235,236 or $0.26 per share of common stock. The total net realized and unrealized loss was $522,590 or $0.06 per share of common stock for the same period.

                            Third Quarter   Second Quarter    Third Quarter
                                    Ended            Ended            Ended
                            July 31, 2009   April 30, 2009    July 31, 2008

    Total Net
      Investment Income        $2,235,236       $2,076,481       $2,163,636
    Per Share                       $0.26            $0.24            $0.25
    Total Net Realized/
     Unrealized Gain/(Loss)     ($522,590)      $3,821,687      ($2,581,900)
    Per Share                      ($0.06)           $0.45           ($0.30)

* Total net assets include assets attributable to both common and preferred shares.

Alliance California Municipal Income Fund, Inc. is managed by AllianceBernstein L.P.

SOURCE Alliance California Municipal Income Fund, Inc.