NEW YORK, June 19 /PRNewswire-FirstCall/ -- Alliance California Municipal Income Fund, Inc. (NYSE:AKP) (the "Fund") today released its monthly portfolio update as of May 31, 2009. Alliance California Municipal Income Fund, Inc. Top 10 Fixed-Income Holdings Portfolio% 1)Los Angeles CA USD GO MBIA Series 02E 5.125%, 5.81% 1/01/27 (Prerefunded) 2)Los Angeles CA Dept W&P Pwr FGIC Series 01A 5.13% 5.125%, 7/01/41 3)California GO 5.25%, 4/01/30 (Prerefunded) 5.10% 4)Puerto Rico Hwy & Trnsp Auth Series 02D 5 3.72% .375%, 7/01/36 (Prerefunded) 5)Puerto Rico Elec Pwr Auth XLCA Series 02-2 5 3.52% .25%, 7/01/31 (Prerefunded) 6)California Infra & Eco Dev Bk (YMCA of Metro 3.30% Los Angeles) AMBAC Series 01 5.25%, 2/01/32 7)Palo Alto CA Univ Ave AD Series 02A 5.875%, 9/02/30 3.29% 8)Los Angeles CA Cmnty Redev Agy (Los Angeles 3.27% CA Cra Grand Ctrl) AMBAC Series 02 5.375%, 12/01/26 9)Temecula CA Redev Agy MBIA Series 02 5.25%, 8/01/36 2.69% 10)California Hlth Fac Fin Auth (Sutter Health) 2.65% Series 00A 6.25%, 8/15/35 Sector/Industry Breakdown Portfolio% Education 15.10% Higher Education 13.07% Special Tax 12.14% Hospital/Health Care 7.91% Community Facility 6.08% Corporate - Utility (Water) 6.05% Transportation 5.65% Housing-Rental Units 5.32% Assessment District 5.19% COP/Lease Rental 4.36% General Obligation 4.33% Corporate - Utility (Electric) 3.52% Port Facility 2.56% Water/SWR 2.37% Utility 2.35% Airport Facility 1.61% Resource Recovery/Solid Waste 1.55% Miscellaneous 0.84% Total 100.00% State Breakdown Portfolio% California 89.73% Puerto Rico 8.83% Nevada 1.05% Ohio 0.22% Colorado 0.17% Total 100.00% Credit Quality Breakdown Portfolio% AAA 46.26% AA 28.24% A 15.84% BBB 8.21% BB 1.45% Total Investments 100.00% Portfolio Statistics AMT Percentage: 16.48% Average Coupon: 5.04% Percentage of Leverage: Bank Loans: 00.0% Investment Operations: 4.43% Preferred Stock: 38.02% Total Fund Leverage: 42.45%* Avg. Maturity: 11.64 Years Duration: 7.33 Years Total Net Assets: $186.3 Million Net Asset Value: $13.33 Number of Holdings: 67 * The total percentage of leverage constitutes 38.02% in issued and outstanding preferred stock and 4.43% in investment operations, which may include the use of certain portfolio management techniques such as tender option bonds, 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. DATASOURCE: Alliance California Municipal Income Fund, Inc. CONTACT: Alliance California Municipal Income Fund, Inc. Shareholder Contact, 1-800-221-5672

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