AllianceBernstein Income Fund, Inc. Reports First Quarter Earnings

NEW YORK, May 30 /PRNewswire-FirstCall/ -- AllianceBernstein Income Fund, Inc. (NYSE:ACG), a registered closed-end investment company, today announced earnings for the first quarter ended March 31, 2008.

Total net assets of the Fund on March 31, 2008 were $2,088,861,959 compared with $2,084,372,114 on December 31, 2007 and $2,057,020,068 on March 31, 2007. On March 31, 2008 the net asset value per share was $8.61 based on 242,556,594 shares of common stock outstanding.

March 31, 2008 December 31, 2007 March 31, 2007
Total Net Assets $2,088,861,959 $2,084,372,114 $2,057,020,068
NAV Per Share $8.61 $8.59 $8.48
Shares Outstanding 242,556,594 242,556,594 242,556,830

For the period January 1, 2008 through March 31, 2008, total net investment income was $35,694,769 or $0.15 per share. The total net realized and unrealized loss was $(6,949,264) or $(0.03) per share for the same period.

First Quarter Fourth Quarter First Quarter
Ended Ended Ended
March 31, 2008 December 31, 2007 March 31, 2007
Total Net Investment
Income $35,694,769 $34,690,556 $33,949,091
Per Share $0.15 $0.14 $0.14
Total Net Realized/
Unrealized Gain/Loss $(6,949,264) $26,075,747 $46,006,413
Per Share $(0.03) $0.11 $0.19

AllianceBernstein Income Fund, Inc. is managed by AllianceBernstein L.P.

First Call Analyst:
FCMN Contact:

Source: AllianceBernstein Income Fund, Inc.

CONTACT: Shareholders, AllianceBernstein Income Fund, Inc.,
1-800-221-5672

Web site: http://www.alliancebernstein.com/

2008-05-30 16:17:35 0374010 PRNEWSWIRE