NEW YORK, Aug. 23 /PRNewswire-FirstCall/ -- Alliance All- Market Advantage Fund, Inc. [NYSE: AMO] (the "Fund") today released its monthly portfolio update as of July 31, 2005. Alliance All-Market Advantage Fund, Inc. Top 10 Equity Holdings Portfolio% 1) Google Inc Class A 6.54% 2) Yahoo Inc. 4.64% 3) eBay Inc 4.13% 4) Halliburton Co 4.00% 5) Dell Inc 3.91% 6) Apple Computer Inc 3.65% 7) Qualcomm Incorporated 3.61% 8) Genentech Inc 3.31% 9) Lowes Cos Inc 3.22% 10) Marvell Technology Group Ltd 3.16% Security Type Breakdown Portfolio% Equities: Common Stock 95.89% Options 4.11% Total 100.00% Sector/Industry Breakdown Portfolio% Technology: Communication Equipment 10.15% Computer Hardware/Storage 7.57% Semiconductor Components 7.03% Internet Media 6.54% Computer Peripherals 1.25% Software 1.20% Semiconductor Capital Equip 0.04% SUBTOTAL 33.78% Consumer Services: Retail - General Merchandise 10.24% Miscellaneous 7.35% Broadcasting & Cable 2.68% Entertainment & Leisure 1.36% Advertising 0.77% SUBTOTAL 22.40% Healthcare: Biotechnology 7.62% Medical Products 6.27% Medical Services 4.23% Drugs 2.51% SUBTOTAL 20.63% Finance: Brokerage & Money Management 5.82% Insurance 2.72% Banking - Regional 0.58% SUBTOTAL 9.12% Energy: Oil Service 6.51% Domestic Producers 0.53% SUBTOTAL 7.04% Consumer Staples: Household Products 1.82% Retail - Food & Drug 0.87% Cosmetics 0.37% SUBTOTAL 3.06% Capital Goods 2.28% Consumer Manufacturing 1.22% Aerospace & Defense 0.47% Total 100.00% Portfolio Statistics Total Net Assets: $51.3 Million Net Asset Value: $13.95 Number of Holdings: 54 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 All- Market Advantage Fund, Inc. CONTACT: Shareholder Contact for Alliance All- Market Advantage Fund, Inc., 1-800-221-5672 Web site: http://www.alliancecapital.com/

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