NEW YORK, Oct. 20 /PRNewswire-FirstCall/ -- Alliance California Municipal Income Fund, Inc. [NYSE: AKP] (the "Fund") today released its monthly portfolio update as of September 30, 2006. Alliance California Municipal Income Fund, Inc. Top 10 Fixed-Income Holdings Portfolio% 1) LA CA Usd MBIA 5.125% (01/01/27) 5.04% 2) California Go 5.250% (04/01/30) 5.03% 3) LA Dept Of Wtr And Pwr FGIC 5.125% (07/01/41) 4.95% 4) Palo Alto A.D. CA Ser 02-A 5.875% (09/02/30) 3.92% 5) Puerto Rico Hwy 5.375% (07/01/36) 3.38% 6) CA Infrastructure AMBAC 5.250% (02/01/32) 3.20% 7) LA CA AMBAC AMT 5.375% (12/01/26) 3.17% 8) Temecula CA Redev Agy MBIA 5.250% (08/01/36) 3.13% 9) Puerto Rico Elec Pwr Auth 5.250% (07/01/31) 3.07% 10) Golden St Tob Stlmt Xlca 5.500% (06/01/33) 2.65% Sector/Industry Breakdown Portfolio% Muni: General Obligation 17.11% Special Tax 16.23% Hospital/Health Care 10.91% Cop/Lease Rental 9.67% Utility 7.06% Transportation 5.82% Assessment District 5.20% Housing-Rental Units 5.13% Higher Education 3.43% Miscellaneous 3.38% Community Facility 3.20% Corporate - Utility (Electric) 3.07% Port Facility 2.55% Education 2.32% Resource Recovery/Solid Waste 2.20% Airport Facility 1.75% Water/SWR 0.97% SUBTOTAL 100.00% Total 100.00% State Breakdown Portfolio% California 89.27% Puerto Rico 7.69% Arizona 2.55% Colorado 0.25% Ohio 0.24% Total 100.00% Credit Quality Breakdown Portfolio% AAA 73.63% AA 2.65% A 10.97% BBB 9.94% BB 2.56% B 0.25% Total 100.00% Portfolio Statistics Percentage of Leverage: Bank Loans: 0% Investment Operations: 0.42% Preferred Stock: 38.21% Total: 38.63%* Avg. Maturity: 24.71 Years Duration: 4.53 Years Total Net Assets: $211.1 Million Net Asset Value: $15.24 Number of Holdings: 65 * The total percentage of leverage constitutes 38.21% in issued and outstanding preferred stock and 0.42% in investment operations, which may include the use of certain portfolio management techniques such as 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 Web site: http://www.alliancebernstein.com/

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