NEW YORK, Jan. 26 /PRNewswire-FirstCall/ -- Alliance California Municipal Income Fund, Inc. (NYSE:AKP) (the "Fund") today released its monthly portfolio update as of December 31, 2009. Alliance California Municipal Income Fund, Inc. Top 10 Fixed-Income Holdings Portfolio% 1)Los Angeles CA USD GO NPFGC Series 02E 5.125%, 1/01/27 (Prerefunded/ETM) 5.60% 2)Los Angeles CA Dept W&P Pwr NPFGC-RE Series 01A 5.125%, 7/01/41 5.07% 3)California GO 5.25%, 4/01/30 (Prerefunded/ETM) 4.93% 4)Palo Alto CA Univ Ave AD Series 02A 5.875%, 9/02/30 3.71% 5)Puerto Rico Hwy & Trnsp Auth Series 02D 5.375%, 7/01/36 (Prerefunded/ETM) 3.61% 6)Puerto Rico Elec Pwr Auth XLCA Series 02-2 5.25%, 7/01/31 (Prerefunded/ETM) 3.40% 7)Los Angeles CA Cmnty Redev Agy (Los Angeles CA CRA Grand Ctrl) AMBAC Series 02 5.375%, 12/01/26 3.36% 8)California Infra & Eco Dev Bk (YMCA of Metro Los Angeles) AMBAC Series 01 5.25%, 2/01/32 3.02% 9)Los Angeles CA Harbor Dept 5.00%, 8/01/26 2.96% 10)Temecula CA Redev Agy NPFGC Series 02 5.25%, 8/01/36 2.79% Sector/Industry Breakdown Portfolio% Prerefunded/ETM 22.50% Special Tax 13.49% Airport/Ports 7.96% Health Care - Not-for-Profit 7.92% Higher Education 6.46% Water & Sewer 6.23% Tax-Supported Local Lease 5.80% Housing - Multi-Family 5.23% Revenue - Miscellaneous 4.92% Assessment District 4.76% State G.O. 4.14% Local G.O. 3.52% Toll Roads/Transit 1.98% Insured 1.61% Tax-Supported State Lease 1.56% Primary/Secondary Ed. - Private 1.09% Higher Education - Private 0.73% Money Market 0.10% Total 100.00% State Breakdown Portfolio% California 89.98% Puerto Rico 8.59% Nevada 1.07% Ohio 0.22% Colorado 0.14% Total 100.00% Credit Quality Breakdown Portfolio% AAA 40.86% AA 22.44% A 24.94% BBB 10.20% BB 1.46% A-1 0.10% Total Investments 100.00% Portfolio Statistics AMT Percentage: 16.51% Average Coupon: 5.00% Percentage of Leverage: Bank Loans: 0.00% Investment Operations: 3.29% Preferred Stock: 26.56% Total Fund Leverage: 29.85%* Avg. Maturity: 10.21 Years Effective Duration: 6.86 Years Total Net Assets: $191.7 Million Net Asset Value: $13.95 Number of Holdings: 69 * The total percentage of leverage constitutes 26.56% in issued and outstanding preferred stock and 3.29% 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: Shareholder Contact: +1-800-221-5672

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