NEW YORK, Aug. 23 /PRNewswire-FirstCall/ -- Alliance California Municipal Income Fund, Inc. [NYSE: AKP] (the "Fund") today released its monthly portfolio update as of July 31, 2005. Alliance California Municipal Income Fund, Inc. Top 10 Fixed-Income Holdings Portfolio% 1) LA CA Usd MBIA 5.125% (01/01/27) 5.07% 2) California Go 5.250% (04/01/30) 5.07% 3) LA Dept Of Wtr And Pwr FGIC 5.125% (07/01/41) 4.97% 4) Palo Alto A.D. CA Ser 02-A 5.875% (09/02/30) 3.91% 5) Puerto Rico Hwy 5.375% (07/01/36) 3.29% 6) CA Infrastructure AMBAC 5.250% (02/01/32) 3.22% 7) Temecula CA Redev Agy MBIA 5.250% (08/01/36) 3.20% 8) LA CA AMBAC AMT 5.375% (12/01/26) 3.18% 9) Puerto Rico Elec Pwr Auth 5.250% (07/01/31) 3.08% 10) CA State Hlth Fac Fin Auth 6.250% (08/15/35) 2.70% Industry/Sector Breakdown Portfolio% Special Tax 16.49% General Obligation 16.43% Cop/Lease Rental 12.15% Hospital/Health Care 10.59% Utility 7.04% Transportation 5.79% Housing-Rental Units 5.13% Assessment District 4.87% Miscellaneous 3.23% Community Facility 3.22% Corporate - Utility (Electric) 3.08% Port Facility 3.05% Higher Education 2.66% Education 2.32% Resource Recovery/Solid Waste 2.20% Airport Facility 1.75% Total: 100.00% Credit Quality Breakdown Portfolio% AAA 70.33% AA 2.70% A 16.16% BBB 8.32% BB 2.49% Total 100.00% Portfolio Statistics Percentage of Leverage: Bank Loans: 0% Investment Operations: 0% Preferred Stock: 38.16%* Total: 38.16% Avg. Maturity: 25.88 Years Duration: 5.54 Years Total Net Assets: $212.3 Million Net Asset Value: $15.41 Number of Holdings: 61 * 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 California Municipal Income Fund, Inc. CONTACT: Shareholder Contact for Alliance California Municipal Income Fund, Inc., 1-800-221-5672 Web site: http://www.alliancecapital.com/

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