Alliance New York Municipal Income Fund Releases Monthly Portfolio Update

Top 10 Fixed-Income Holdings

Portfolio %

1) Port Authority of NY & NJ 5.00%, 10/01/34

4.73%

2) New York St Dormitory Auth   NATL Series 04 5.75%, 8/01/14 (Prerefunded/ETM)

4.47%

3) Utility Debt Securitization Auth NY Series 2013T 5.00%, 12/15/30

4.15%

4) Erie Cnty NY Fiscal Stability Auth (Erie Cnty NY Sales Tax)  Series 2011C 5.00%, 12/01/25

4.07%

5) New York St Thruway Auth (New York St Thruway Auth Ded Tax)  Series 2011A 5.00%, 4/01/31

3.90%

6) New York NY Trnsl Fin Auth Series 2013A 5.25%, 7/01/30

3.02%

7) New York St Dormitory Auth (New York St Pers Income Tax) 5.00%, 3/15/26

2.99%

8) New York St Dormitory Auth (New York St Pers Income Tax)  Series 2012A 5.00%, 6/15/31

2.97%

9) Long Island Pwr Auth NY Series 2012D 0.08%, 12/01/29

2.82%

10) Idaho Hsg & Fin Assn (Idaho Fed Hwy Grant) 5.00%, 7/15/31

2.79%

Sector/Industry Breakdown

Portfolio %

Revenue

Water & Sewer

11.46%

Toll Roads/Transit

8.95%

Revenue - Miscellaneous

8.23%

Health Care - Not-for-Profit

5.88%

Higher Education - Private

5.07%

Airport

4.73%

Senior Living

3.18%

Electric Utility

1.33%

Industrial Development - Utility

0.20%

SUBTOTAL

49.03%

Tax Supported

Special Tax

25.35%

Local G.O.

5.27%

State G.O.

3.17%

Tax-Supported State Lease

1.99%

Tax-Supported Local Lease

1.96%

Assessment District

0.37%

SUBTOTAL

38.11%

Prerefunded/ETM

5.14%

Cash Equivalents

Investment Companies

3.05%

SUBTOTAL

3.05%

Note/VRDBs

Money Market

2.82%

SUBTOTAL

2.82%

Asset-Backed

Housing - Multi-Family

1.85%

SUBTOTAL

1.85%

Total

100.00%

State Breakdown

Portfolio %

New York

82.23%

Idaho

2.79%

Pennsylvania

2.60%

Louisiana

2.33%

New Mexico

2.07%

Texas

2.03%

Wisconsin

1.31%

Puerto Rico

0.44%

Illinois

0.40%

Colorado

0.37%

Ohio

0.20%

California

0.18%

Other

3.05%

Total Investments

100.00%

Credit Quality Breakdown

Portfolio %

AAA

16.19%

AA

54.48%

A

13.65%

BBB

2.72%

BB

0.74%

Not Rated

1.20%

Pre-refunded Bonds

5.14%

Short Term Investments

5.88%

Total Investments

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

10.35%

1 to 5 years

0.63%

5 to 10 years

17.45%

10 to 20 years

59.95%

20 to 30 years

11.62%

More than 30 years

0.00%

Other

0.00%

Total Investments

100.00%

Portfolio Statistics:

AMT Percentage:

8.57%

Average Coupon:

5.11%

Percentage of Leverage:

Bank Borrowing:

0.00%

Investment Operations:

0.00%

Preferred Stock:

37.53%

Tender Option Bonds:

3.86%

Term Asset-Backed Loans Facility (TALF):

0.00%

Total Fund Leverage:

41.39%*

Average Effective Maturity:

6.23 Years

Effective Duration:

5.40 Years

Total Net Assets:

$108.73 Million**

Common Stock Net Asset Value:

$14.05

Number of Holdings:

70

Portfolio Turnover:

35%