Alliance New York Municipal Income Fund Releases Monthly Portfolio Update NEW YORK, May 25 /PRNewswire-FirstCall/ -- Alliance New York Municipal Income Fund, Inc. [NYSE: AYN] (the "Fund") today released its monthly portfolio update as of April 30, 2005. Alliance New York Municipal Income Fund, Inc. Top 10 Fixed-Income Holdings Portfolio% 1) NYS Mtg Agy AMT 5.450% (04/01/31) 9.59% 2) NY Metro Trans Auth 5.125% (11/15/31) 4.91% 3) New York State Dorm Auth MBIA 5.750% (08/01/29) 4.85% 4) New York State UDC 5.250% (03/15/32) 4.79% 5) NYC Trust Cultural Resources 5.125% (07/01/31) 4.49% 6) NYC Muni Wtr Fin Auth 5.125% (06/15/34) 4.47% 7) Trib Brdg & Tunl Auth NY 5.000% (01/01/32) 4.42% 8) Tobacco Settlement NY AMBAC As 5.250% (06/01/21) 3.70% 9) New York NY Go Pre Re 5.500% (12/01/31) 3.40% 10) Suffolk Cnty NY Ser 98 AMT 5.500% (01/01/23) 3.15% Industry/Sector Breakdown Portfolio% Hospital/Health Care 18.52% Transportation 14.53% General Obligation 12.95% Housing-Mortgages 11.17% Special Tax 9.28% Water/SWR 6.27% Higher Education 6.00% Corporate - Utility (Electric) 5.96% Cop/Lease Rental 3.70% Housing-Rental Units 2.96% Continuing Care Facility 2.31% Community Facility 2.07% Utility 1.68% Assessment District 1.45% Airport Facility 0.89% Resource Recovery/Solid Waste 0.26% Total: 100.00% Bond Rating Portfolio% AAA 44.26% AA 23.38% A 19.99% BBB 3.55% BB 8.82% Total 100.00% Percentage of Leverage: Bank Loans: 0% Investment Operations: 0% Preferred Stock: 37.80%* Total: 37.80% Avg. Maturity: 27.19 Years Duration: 5.60 Years Total Net Assets: $119.1 Million Net Asset Value: $15.35 Number of Holdings: 44 * Represents issued and outstanding preferred stock. 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 Alliance Capital Management L. P. DATASOURCE: Alliance New York Municipal Income Fund, Inc. CONTACT: Shareholder Contact for Alliance New York Municipal Income Fund, Inc., 1-800-221-5672 Web site: http://www.alliancecapital.com/

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