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ALLIANCE CAPITAL ACQUIRES DIMENSIONAL ASSET MANAGEMENT

      ALLIANCE CAPITAL ACQUIRES DIMENSIONAL ASSET MANAGEMENT
    NEW YORK, Dec. 3 /PRNewswire/ -- Alliance Capital Management L.P. (NYSE: AC) announced the acquisition of Dimensional Asset Management Limited (DAM), a U.K. based institutional investment manager investing in small capitalization common stocks on a global basis.  DAM offers a global investment strategy in modular form through pooled, broadly diversified investment vehicles designed to deliver the aggregate performance of small companies in the major world equities markets.
    DAM, now a subsidiary of Alliance Capital Limited (ACL), provides advisory services to pension funds located in the U.K., Continental Europe and Australia.  The addition of DAM's assets to those of the Alliance New York based index fund and structured product group, brings Alliance's assets under management in index and enhanced index fund products worldwide to approximately $10 billion.
    Rolf Banz, chairman and managing director of DAM, has become managing director and chief executive officer of ACL.  Banz has held various academic positions in leading European and American business schools, including the European Institute of Business Administration (INSEAD), the London Business School, the University of Chicago, and Northwestern University.  He developed what is now popularly known as the "small firm effect."
    Elzbieta Banz, director of DAM, has become director and vice president of ACL, with responsibility for managing marketing and client service to pension funds in the U.K. and Northern Europe.  Ten members of the DAM team have also joined ACL and, as a result, the team will continue to perform as a cohesive unit in the ongoing management of small capitalization common stocks.
    "DAM's small company products round out Alliance's overall index product line by serving as complementary investments to clients with large cap international/global passive investments.  In addition to enhancing Alliance's passive product array, DAM extends the reach and emphasis of our index fund organization," said Dave H. Williams, chairman of Alliance Capital Management L.P.  "Alliance views this acquisition as an opportunity for continued development of our international business objectives.  The addition of Dimensional Asset Management is strategically important and we are delighted to welcome the team to our organization."
    Alliance Capital Management L.P. is a leading international investment adviser, providing investment management services to institutions, primarily pension funds and endowments, and also to individual investors through a broad line of mutual funds and cash management products.  Its general partner and majority unitholder is a wholly owned subsidiary of The Equitable Life Assurance Society of the United States.
    -0-          12/3/91
    /CONTACT:  Linda Finnerty of Alliance Capital, 212-969-1316, or Elzbieta Banz of Dimensional Asset Management, 44-71-839-8711/
    (AC) CO:  Alliance Capital Management L.P.; Dimensional Asset Management ST:  New York IN:  FIN SU:  TNM KD-FC -- NY071 -- 8883 12/03/91 16:00 EST
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Publication:PR Newswire
Date:Dec 3, 1991
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