NEW YORK, Nov. 19 /PRNewswire-FirstCall/ -- AllianceBernstein Income Fund, Inc. (NYSE: ACG) (the "Fund") today released its monthly portfolio update as of October 31, 2008.

                AllianceBernstein Income Fund, Inc.

    Top 10 Fixed-Income Holdings
                                                          Portfolio%
    1)  U.S. Treasury Bonds 11.25% 2/15/15                   9.04%
    2)  U.S. Treasury Strips Zero Coupon 5/15/17             6.56%
    3)  U.S. Treasury Notes 4.875% 5/15/09 - 8/15/16         5.88%
    4)  Federal National Mortgage Association Series
         2008 4.50%, 3/01/38 - 4/01/38                       5.67%
    5)  U.S. Treasury Notes 4.00% 6/15/09 - 2/15/15          5.63%
    6)  Federal National Mortgage Association Series
         2008 5.50% 1/01/37 - 10/01/38                       5.55%
    7)  U.S. Treasury Strips Zero Coupon 11/15/21            5.45%
    8)  U.S. Treasury Bonds 6.625% 2/15/27                   3.41%
    9)  Resolution Funding Corp. Series 1990 Zero
         Coupon 10/15/20                                     2.92%
    10) Federal National Mortgage Association.
         5.375% 6/12/17                                      2.91%


    Security Type Breakdown
                                                   Portfolio%
    Governments - Treasuries:
      Treasuries                                     46.77%
    Mortgage Pass-Thru's:
      Agency Fixed Rate 30-Year                      16.76%
      Agency ARMS                                     5.71%
    SUBTOTAL                                         22.47%
    Agencies:
      Agency Debentures                               7.39%
    Corporates - Investment Grades:
      Financial Institutions:
        Banking                                       1.26%
        Finance                                       0.78%
        Brokerage                                     0.48%
        Basic                                         0.12%
        Insurance                                     0.07%
        Other Finance                                 0.02%
      SUBTOTAL                                        2.73%
        Industrial:
        Basic                                         1.00%
        Energy                                        0.37%
        Capital Goods                                 0.35%
        Transportation - Airlines                     0.17%
        Other Industrial                              0.16%
        Communications - Telecommunications           0.14%
        Consumer Cyclical - Retailers                 0.13%
        Consumer Cyclical - Other                     0.04%
        Consumer Non-Cyclical                         0.03%
        Technology                                    0.02%
        Communications - Media                        0.01%
      SUBTOTAL                                        2.42%
      Non Corporate Sectors:
        Foreign Local Government - Municipal          0.09%
        Agencies - Not Government Guaranteed          0.04%
      SUBTOTAL                                        0.13%
      Industrials:
        Basic                                         0.02%
      SUBTOTAL                                        0.02%
    SUBTOTAL                                          5.30%
    Commercial Mortgage-Backed Securities:
      Non-Agency Fixed Rate CMBS                      3.90%
    SUBTOTAL                                          3.90%
    Corporates - Non-Investment Grades:
      Industrial:
        Communications - Telecommunications           0.66%
        Communications - Media                        0.47%
        Basic                                         0.38%
        Capital Goods                                 0.27%
        Consumer Non-Cyclical                         0.15%
        Other Industrial                              0.12%
        Consumer Cyclical - Automotive                0.08%
        Services                                      0.06%
        Consumer Cyclical - Other                     0.05%
        Consumer Cyclical - Retailers                 0.02%
        Technology                                    0.01%
      SUBTOTAL                                        2.27%
      Financial Institutions:
        Finance                                       0.51%
        Insurance                                     0.14%
        Banking                                       0.05%
        Brokerage                                     0.02%
      SUBTOTAL                                        0.72%
    SUBTOTAL                                          2.99%
    Inflation-Linked Securities                       2.77%
    Bank Loans:
      Industrial:
        Basic                                         0.50%
        Consumer Non-Cyclical                         0.40%
        Communications - Telecommunications           0.32%
        Communications - Media                        0.30%
        Technology                                    0.21%
        Consumer Cyclical - Other                     0.14%
        Energy                                        0.11%
        Services                                      0.07%
        Capital Goods                                 0.07%
        Consumer Cyclical - Automotive                0.06%
        Consumer Cyclical - Retailers                 0.05%
      SUBTOTAL                                        2.23%
      Utility:
        Electric                                      0.26%
        Other Utility                                 0.02%
      SUBTOTAL                                        0.28%
      Financial Institutions:
        Finance                                       0.13%
        REITS                                         0.03%
        Other Finance                                 0.03%
        Banking                                       0.01%
      SUBTOTAL                                        0.20%
    SUBTOTAL                                          2.71%
    Emerging Markets - Treasuries:
      Non Corporate Sectors:
        Sovereign                                     1.64%
      SUBTOTAL                                        1.64%
    Emerging Markets - Sovereigns:
      Non Corporate Sectors:
        Sovereign                                     1.16%
      SUBTOTAL                                        1.16%
    Quasi-Sovereigns:
      Quasi-Sovereign Bonds                           0.57%
    Governments - Sovereign Agencies                  0.37%
    CMOs:
      Non-Agency Floating Rate                        0.19%
      Agency Fixed Rate                               0.01%
    SUBTOTAL                                          0.20%
    Governments - Sovereign Bonds                     0.16%
    Emerging Markets - Corporate Bonds:
      Utility:
        Electric                                      0.01%
      SUBTOTAL                                        0.01%
      Financial Institutions:
        Banking                                       0.01%
      SUBTOTAL                                        0.01%
      Non Corporate Sectors:
        Sovereign                                     0.01%
      SUBTOTAL                                        0.01%
    SUBTOTAL                                          0.03%
    Preferred Stocks:
      Non Corporate Sectors                           0.01%
    Short-Term Investments:
      Investment Companies                            1.56%
    Total                                           100.00%


    Country Breakdown

                                  Portfolio%
    United States                   89.61%
    Brazil                           1.80%
    Mexico                           1.61%
    Turkey                           1.34%
    Russia                           1.14%
    Indonesia                        0.65%
    Cayman Islands                   0.54%
    Colombia                         0.41%
    Kazakhstan                       0.36%
    Peru                             0.34%
    Bermuda                          0.32%
    Luxembourg                       0.30%
    United Kingdom                   0.27%
    Venezuela                        0.22%
    Australia                        0.18%
    Canada                           0.14%
    India                            0.13%
    Netherlands                      0.13%
    Switzerland                      0.11%
    Panama                           0.10%
    Ecuador                          0.10%
    Hong Kong                        0.06%
    Austria                          0.05%
    Argentina                        0.04%
    Dominican Repb.                  0.03%
    Uruguay                          0.01%
    South Africa                     0.01%
    Total                          100.00%


    Credit Quality Breakdown
    Portfolio%
      AAA                           80.03%
      AA                             1.20%
      A                              4.07%
      BBB                            4.77%
      BB                             5.71%
      B                              1.48%
      CCC                            1.15%
      C                              0.03%
      A-1+                           1.56%
      Total Investments            100.00%


    Portfolio Statistics
      Percentage of Leverage:
        Bank Loans:                 14.75%
        Investment Operations:      20.70%
        Preferred Stock:                0%
      Total:                        35.45%*

      Avg. Maturity:                 7.40 Years

      Duration:
        Corporate                    5.43 yrs
        Non Dollar Government        4.66 yrs
        Emerging Market              4.91 yrs
        US Treasury                  5.35 yrs
        High Yield                   1.85 yrs
      Total Portfolio:               3.17 Years

      Total Net Assets:          $1,750.2 Million
      Net Asset Value:              $7.22
      Number of Holdings:             339


    * The total percentage of leverage constitutes 14.75% in bank loans
    and 20.70% in investment operations, which 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.

SOURCE AllianceBernstein Income Fund, Inc.