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ALLIANCE CAPITAL MANAGEMENT REPORTS DISTRIBUTION TO UNITHOLDERS AND SECOND QUARTER RESULTS

 ALLIANCE CAPITAL MANAGEMENT REPORTS DISTRIBUTION TO
 UNITHOLDERS AND SECOND QUARTER RESULTS
 NEW YORK, July 29 /PRNewswire/ -- Alliance Capital Management L.P. (NYSE: AC) today announced a distribution of 64 cents per unit for the second quarter of 1992. The partnership distributed 50 cents per unit for the second quarter of 1991.
 The distribution is payable on Aug. 14, 1992, to holders of units at the close of business on Aug. 7.
 Net income for the second quarter of 1992 was $19,394,000 or 67 cents per unit compared to $14,104,000 or 49 cents per unit for the second quarter of 1991.
 Revenues increased from $71,533,000 to $87,568,000 for the quarters ended June 30, 1991 and 1992, respectively. Assets under management as of June 30, 1992, were approximately $60.8 billion.
 The partnership is required to distribute its available cash flow, which was $18,260,000 or 64 cents per unit for the quarter ended June 30, 1992.
 ALLIANCE CAPITAL MANAGEMENT L.P.
 Summary Consolidated Statements of Income
 (Unaudited; in thousands, except per-unit amounts)
 Three Months Six Months
 Periods ended June 30 1992 1991 1992 1991
 Revenues $87,568 $71,533 $173,811 $135,940
 Expenses 67,075 56,764 132,931 108,306
 Income before taxes 20,493 14,769 40,880 27,634
 Taxes 1,099 665 2,146 1,244
 Net income 19,394 14,104 38,734 26,390
 Net income per unit $.67 $.49 $1.33 $.92
 Distribution per unit .64 .50 1.26 .98
 6/30/92 6/30/91 3/31/92
 Assets under management (millions) $60,776 $54,294 $61,190
 Alliance Capital Management L.P. is a leading international investment adviser, providing investment management services to institutions, primarily pension funds and endowments, and to individual investors through a broad line of mutual funds and cash management products. The partnership's general partner and majority unitholder are wholly owned subsidiaries of the Equitable Life Assurance Society of the United States.
 -0- 7/29/92
 /CONTACT: John D. Carifa, CFO of Alliance Capital, 212-969-1000/
 (AC) CO: Alliance Capital Management L.P. ST: New York IN: FIN SU: ERN


SH-CK -- NY034 -- 4548 07/29/92 11:07 EDT
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Publication:PR Newswire
Date:Jul 29, 1992
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