AllianceBernstein Income Fund Releases Monthly Portfolio Update

• Press Release
• Source: AllianceBernstein Income Fund, Inc.
• On 4:06 pm EDT, Friday October 23, 2009

NEW YORK, Oct. 23 /PRNewswire-FirstCall/ -- AllianceBernstein Income Fund, Inc. (NYSE: ACG - News; the "Fund") today released its monthly portfolio update as of September 30, 2009.

                        AllianceBernstein Income Fund, Inc.

         Top 10 Fixed-Income Holdings
                                                          Portfolio %
        1)U.S. Treasury Notes 3.625%, 8/15/19                   7.44%
        2)U.S. Treasury Notes 2.375%, 4/15/11 -                 7.10%
          8/31/14
        3)U.S. Treasury STRIPS Zero Coupon, 5/15/17             6.51%
        4)U.S. Treasury Notes 1.75%, 8/15/12                    6.51%
        5)U.S. Treasury Notes 1.375%, 9/15/12                   5.98%
        6)U.S. Treasury Bonds 11.25%, 2/15/15                   4.68%
        7)U.S. Treasury Notes 1.00%, 8/31/11                    4.68%
        8)U.S. Treasury STRIPS Zero Coupon, 11/15/21            3.25%
        9)U.S. Treasury Bonds 6.625%, 2/15/27                   3.14%
       10)Federal National Mortgage Association 5.375%,         2.15%
          6/12/17


         Security Type Breakdown
                                                          Portfolio %
         Governments - Treasuries:
            Treasuries                                         52.48%
         Mortgage Pass-Thru's:
            Agency Fixed Rate 30-Year                           6.14%
            Agency ARMS                                         4.72%
         SUBTOTAL                                              10.86%
         Commercial Mortgage-Backed Securities:
            Non-Agency Fixed Rate CMBS                          8.27%
         SUBTOTAL                                               8.27%
         Corporates - Investment Grades:
            Financial Institutions:
              Banking                                           2.26%
              Finance                                           0.38%
              Insurance                                         0.15%
              Other Finance                                     0.02%
            SUBTOTAL                                            2.81%
            Industrial:
              Basic                                             1.05%
              Energy                                            0.26%
              Other Industrial                                  0.22%
              Communications - Media                            0.18%
              Transportation - Airlines                         0.16%
              Consumer Cyclical - Automotive                    0.14%
              Communications - Telecommunications               0.07%
              Capital Goods                                     0.02%
              Consumer Non-Cyclical                             0.02%
            SUBTOTAL                                            2.12%
            Non Corporate Sectors:
              Agencies - Not Government Guaranteed              1.29%
            SUBTOTAL                                            1.29%
         SUBTOTAL                                               6.22%
         Corporates - Non-Investment Grades:
            Industrial:
              Communications - Telecommunications               0.70%
              Basic                                             0.64%
              Capital Goods                                     0.32%
              Consumer Non-Cyclical                             0.30%
              Communications - Media                            0.28%
              Consumer Cyclical - Retailers                     0.22%
              Consumer Cyclical - Other                         0.10%
              Other Industrial                                  0.07%
              Consumer Cyclical - Automotive                    0.07%
              Technology                                        0.01%
            SUBTOTAL                                            2.71%
            Financial Institutions:
              Banking                                           0.58%
              Finance                                           0.36%
              Insurance                                         0.14%
              Brokerage                                         0.02%
            SUBTOTAL                                            1.10%
         SUBTOTAL                                               3.81%
         Inflation-Linked Securities                            3.76%
         Agencies:
            Agency Debentures                                   2.15%
         Quasi-Sovereigns:
            Quasi-Sovereign Bonds                               1.96%
         Bank Loans:
            Industrial:
              Consumer Non-Cyclical                             0.26%
              Communications - Media                            0.25%
              Technology                                        0.20%
              Basic                                             0.17%
              Consumer Cyclical - Other                         0.14%
              Services                                          0.13%
              Energy                                            0.09%
              Consumer Cyclical - Retailers                     0.08%
              Capital Goods                                     0.08%
              Communications - Telecommunications               0.07%
              Consumer Cyclical - Entertainment                 0.06%
              Consumer Cyclical - Automotive                    0.03%
              Transportation - Airlines                         0.03%
              Other Industrial                                  0.01%
            SUBTOTAL                                            1.60%
            Utility:
              Electric                                          0.12%
            SUBTOTAL                                            0.12%
            Financial Institutions:
              Finance                                           0.05%
              Other Finance                                     0.03%
              Insurance                                         0.02%
              REITS                                             0.01%
            SUBTOTAL                                            0.11%
         SUBTOTAL                                               1.83%
         Emerging Markets - Treasuries                          1.80%
         Emerging Markets - Sovereigns                          1.27%
         Governments - Sovereign Bonds                          0.66%
         Asset-Backed Securities:
            Credit Cards - Floating Rate                        0.64%
         Emerging Markets - Corporate Bonds:
            Industrial:
              Basic                                             0.12%
              Energy                                            0.10%
              Consumer Non-Cyclical                             0.01%
            SUBTOTAL                                            0.23%
            Financial Institutions:
              Banking                                           0.18%
              Other Finance                                     0.01%
            SUBTOTAL                                            0.19%
         SUBTOTAL                                               0.42%
         CMOs:
            Non-Agency ARMS                                     0.12%
            Agency Fixed Rate                                   0.01%
         SUBTOTAL                                               0.13%
         Preferred Stocks:
            Financial Institutions                              0.05%
            Non Corporate Sectors                               0.01%
         SUBTOTAL                                               0.06%
         Local Governments - Regional Bonds                     0.01%
         Short-Term Investments:
            Investment Companies                                3.67%
         Total                                                100.00%


                Country Breakdown
                                                          Portfolio %
                United States                                  85.43%
                Russia                                          3.64%
                Brazil                                          2.78%
                Turkey                                          1.15%
                Hungary                                         0.85%
                Colombia                                        0.77%
                Indonesia                                       0.74%
                United Kingdom                                  0.66%
                Poland                                          0.66%
                Kazakhstan                                      0.55%
                Hong Kong                                       0.36%
                Argentina                                       0.33%
                India                                           0.23%
                Venezuela                                       0.21%
                El Salvador                                     0.20%
                Netherlands                                     0.19%
                Jamaica                                         0.18%
                Peru                                            0.18%
                Australia                                       0.16%
                Canada                                          0.14%
                Sweden                                          0.14%
                Bermuda                                         0.11%
                Switzerland                                     0.11%
                France                                          0.10%
                Germany                                         0.09%
                Luxembourg                                      0.02%
                South Africa                                    0.01%
                Greece                                          0.01%
                Total                                         100.00%

          Credit Quality Breakdown
                                                          Portfolio %
                    AAA                                        75.46%
                    AA                                          0.18%
                    A                                           2.78%
                    BBB                                         9.18%
                    BB                                          5.12%
                    B                                           1.95%
                    CCC                                         1.35%
                    CC                                          0.14%
                    C                                           0.10%
                    D                                           0.07%
                    A-1+                                        3.67%
                    Total Investments                         100.00%

      Portfolio Statistics
         Percentage of Leverage:
                 Bank Borrowing:             0.00%
                 Investment Operations:      35.58%*
                 Preferred Stock:            0.00%
                 Tender Option Bonds:        0.00%
              Total:                         35.58%, as of 09/30/2009

         Avg. Maturity:            9.06 Years

         Duration:
                 Corporate                   6.08 yrs
                 Non Dollar Government       4.85 yrs
                 Emerging Market             5.46 yrs
                 US Treasury                 3.87 yrs
                 High Yield                  2.40 yrs
              Total Portfolio:               4.83 Years, as of 09/30/2009

         Total Net Assets:         $2,030.6 Million
         Net Asset Value:          $8.36
         Number of Holdings:       317

* Investment Operations may include the use of certain portfolio management techniques such as 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.

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