Alliance Global Environment Fund, Inc. reports second quarter earnings.

NEW YORK--(BUSINESS WIRE)--June 13, 1997--Alliance Global Environment Fund, Inc. (NYSE: AEF), a registered closed-end investment company, today announced earnings for the second quarter ended April 30, 1997.

Total net assets of the Fund on April 30, 1997 were $94,704,940 compared with $103,902,571 on January 31, 1997 and $101,346,313 on April 30, 1996. On April 30, 1997 the net asset value per share was $15.87 based on 5,967,269 shares outstanding. -0-

                     April 30, 1997 January 31, 1997    April 30, 1996

Total Net Assets      $94,704,940     $103,902,571      $101,346,313
NAV Per Share              $15.87           $17.41            $15.22
Shares Outstanding      5,967,269        5,967,269         6,659,869

    For the period February 1, 1997 through April 30, 1997, total net
operating loss was ($270,702) or ($0.05) per share.  The total net
realized and unrealized loss was ($8,926,986) or ($1.49) per share
for the same period.

                        Second Quarter   First Quarter   Second Quarter
                             Ended           Ended           Ended
                        April 30, 1997  January 31, 1997  April 30, 1996
Total Net Investment
 Income/(Operating Loss) ($270,702)       ($317,309)       ($207,021)
Per Share                   ($0.05)          ($0.05)          ($0.03)

Total Net Realized/
 Unrealized Gain/Loss  ($8,926,986)     $12,311,256       $9,069,895
Per Share                   ($1.49)           $2.06            $1.36

Alliance Global Environment Fund, Inc. is managed by Alliance Capital Management L.P.

CONTACT: Shareholder Contact:

1-800-221-5672

or

Media Contact only:

Duff Ferguson

212-969-1056