<PAGE> PAGE 1
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<PAGE> PAGE 2
012 A00AA01 ALLIANCE FUND SERVICES, INC.
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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066 G000400 N
067 000400 N
<PAGE> PAGE 21
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 N
070 A020400 N
070 B010400 Y
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 Y
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 Y
070 N010400 N
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 Y
070 Q020400 N
070 R010400 Y
070 R020400 N
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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SIGNATURE JOSEPH REZABEK
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001018592
<NAME> ALLIANCE INSTITUTIONAL FUNDS, INC.
<SERIES>
<NUMBER> 041
<NAME> SPECIAL EQUITY INSTITUTIONAL FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> OCT-31-1999
<INVESTMENTS-AT-COST> 342,114,484
<INVESTMENTS-AT-VALUE> 498,728,391
<RECEIVABLES> 3,326,901
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<SENIOR-LONG-TERM-DEBT> 0
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<SENIOR-EQUITY> 46,316
<PAID-IN-CAPITAL-COMMON> 339,480,671
<SHARES-COMMON-STOCK> 46,316,241
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,704,621
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 156,613,907
<NET-ASSETS> 499,845,515
<DIVIDEND-INCOME> 850,937
<INTEREST-INCOME> 115,811
<OTHER-INCOME> 0
<EXPENSES-NET> 1,773,438
<NET-INVESTMENT-INCOME> (806,690)
<REALIZED-GAINS-CURRENT> (3,704,621)
<APPREC-INCREASE-CURRENT> 156,613,907
<NET-CHANGE-FROM-OPS> 159,511,838
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 49,247,297
<NUMBER-OF-SHARES-REDEEMED> (2,931,056)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 499,845,515
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,412,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,838,000
<AVERAGE-NET-ASSETS> 491,419,430
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> .81
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.79
<EXPENSE-RATIO> 0.73
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001018592
<NAME> ALLIANCE INSTITUTIONAL FUNDS, INC.
<SERIES>
<NUMBER> 011
<NAME> PREMIER GROWTH INSTITUTIONAL FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> OCT-31-1999
<INVESTMENTS-AT-COST> 233,748,339
<INVESTMENTS-AT-VALUE> 254,040,512
<RECEIVABLES> 5,557,435
<ASSETS-OTHER> 79,039
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 259,676,986
<PAYABLE-FOR-SECURITIES> 4,048,499
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 569,354
<TOTAL-LIABILITIES> 4,617,853
<SENIOR-EQUITY> 14,534
<PAID-IN-CAPITAL-COMMON> 217,088,150
<SHARES-COMMON-STOCK> 14,087,641
<SHARES-COMMON-PRIOR> 4,508,047
<ACCUMULATED-NII-CURRENT> 0
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<ACCUMULATED-NET-GAINS> 17,664,276
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 20,292,173
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<DIVIDEND-INCOME> 758,346
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<OTHER-INCOME> 0
<EXPENSES-NET> (1,302,065)
<NET-INVESTMENT-INCOME> (336,145)
<REALIZED-GAINS-CURRENT> 18,918,476
<APPREC-INCREASE-CURRENT> 15,084,878
<NET-CHANGE-FROM-OPS> 33,667,209
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (46,397)
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 10,778,679
<NUMBER-OF-SHARES-REDEEMED> (1,201,728)
<SHARES-REINVESTED> 2,643
<NET-CHANGE-IN-ASSETS> 195,150,823
<ACCUMULATED-NII-PRIOR> 16,136
<ACCUMULATED-GAINS-PRIOR> (887,491)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,423,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,839,000
<AVERAGE-NET-ASSETS> 137,049,846
<PER-SHARE-NAV-BEGIN> 12.62
<PER-SHARE-NII> (0.04)
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<PER-SHARE-DIVIDEND> (0.01)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.55
<EXPENSE-RATIO> .90
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001018592
<NAME> ALLIANCE INSTITUTIONAL FUNDS, INC.
<SERIES>
<NUMBER> 012
<NAME> PREMIER GROWTH INSTITUTIONAL FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> OCT-31-1999
<INVESTMENTS-AT-COST> 233,748,339
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<TOTAL-LIABILITIES> 4,617,853
<SENIOR-EQUITY> 14,534
<PAID-IN-CAPITAL-COMMON> 217,088,150
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<ACCUMULATED-NII-CURRENT> 0
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<ACCUMULATED-NET-GAINS> 17,664,276
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 20,292,173
<NET-ASSETS> 255,059,133
<DIVIDEND-INCOME> 758,346
<INTEREST-INCOME> 207,574
<OTHER-INCOME> 0
<EXPENSES-NET> (1,302,065)
<NET-INVESTMENT-INCOME> (336,145)
<REALIZED-GAINS-CURRENT> 18,918,476
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<NET-CHANGE-FROM-OPS> 33,667,209
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 307,481
<NUMBER-OF-SHARES-REDEEMED> (100,367)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 195,150,823
<ACCUMULATED-NII-PRIOR> 16,136
<ACCUMULATED-GAINS-PRIOR> (887,491)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,281,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,697,000
<AVERAGE-NET-ASSETS> 5,278,136
<PER-SHARE-NAV-BEGIN> 12.58
<PER-SHARE-NII> (0.10)
<PER-SHARE-GAIN-APPREC> 4.96
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.44
<EXPENSE-RATIO> 1.30
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001018592
<NAME> ALLIANCE INSTITUTIONAL FUNDS, INC.
<SERIES>
<NUMBER> 021
<NAME> QUASAR INSTITUTIONAL FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> OCT-31-1999
<INVESTMENTS-AT-COST> 33,284,133
<INVESTMENTS-AT-VALUE> 31,900,216
<RECEIVABLES> 322,787
<ASSETS-OTHER> 145,659
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 32,368,662
<PAYABLE-FOR-SECURITIES> 729,898
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 441,441
<TOTAL-LIABILITIES> 1,171,339
<SENIOR-EQUITY> 3,943
<PAID-IN-CAPITAL-COMMON> 35,787,341
<SHARES-COMMON-STOCK> 2,120,699
<SHARES-COMMON-PRIOR> 2,765,729
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3,210,044)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,383,917)
<NET-ASSETS> 31,197,323
<DIVIDEND-INCOME> 221,671
<INTEREST-INCOME> 90,883
<OTHER-INCOME> 0
<EXPENSES-NET> (428,856)
<NET-INVESTMENT-INCOME> (116,302)
<REALIZED-GAINS-CURRENT> (1,922,930)
<APPREC-INCREASE-CURRENT> 2,066,292
<NET-CHANGE-FROM-OPS> 27,060
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (26,396)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 874,661
<NUMBER-OF-SHARES-REDEEMED> (1,523,199)
<SHARES-REINVESTED> 3,508
<NET-CHANGE-IN-ASSETS> 10,684,295
<ACCUMULATED-NII-PRIOR> 2,356
<ACCUMULATED-GAINS-PRIOR> 1,287,114
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 338,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 711,000
<AVERAGE-NET-ASSETS> 18,334,123
<PER-SHARE-NAV-BEGIN> 7.42
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> .53
<PER-SHARE-DIVIDEND> (0.01)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.92
<EXPENSE-RATIO> 1.20
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001018592
<NAME> ALLIANCE INSTITUTIONAL FUNDS, INC.
<SERIES>
<NUMBER> 022
<NAME> QUASAR INSTITUTIONAL FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> OCT-31-1999
<INVESTMENTS-AT-COST> 33,284,133
<INVESTMENTS-AT-VALUE> 31,900,216
<RECEIVABLES> 322,787
<ASSETS-OTHER> 145,659
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 32,368,662
<PAYABLE-FOR-SECURITIES> 729,898
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 441,441
<TOTAL-LIABILITIES> 1,171,339
<SENIOR-EQUITY> 3,943
<PAID-IN-CAPITAL-COMMON> 35,787,341
<SHARES-COMMON-STOCK> 1,822,484
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3,210,044)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,383,917)
<NET-ASSETS> 31,197,323
<DIVIDEND-INCOME> 221,671
<INTEREST-INCOME> 90,883
<OTHER-INCOME> 0
<EXPENSES-NET> (428,856)
<NET-INVESTMENT-INCOME> (116,302)
<REALIZED-GAINS-CURRENT> (1,922,930)
<APPREC-INCREASE-CURRENT> 2,066,292
<NET-CHANGE-FROM-OPS> 27,060
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,272,523
<NUMBER-OF-SHARES-REDEEMED> (2,450,077)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 10,684,295
<ACCUMULATED-NII-PRIOR> 2,356
<ACCUMULATED-GAINS-PRIOR> 1,287,114
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 338,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 711,000
<AVERAGE-NET-ASSETS> 15,470,388
<PER-SHARE-NAV-BEGIN> 7.40
<PER-SHARE-NII> (0.05)
<PER-SHARE-GAIN-APPREC> .55
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.90
<EXPENSE-RATIO> 1.35
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001018592
<NAME> ALLIANCE INSTITUTIONAL FUNDS, INC.
<SERIES>
<NUMBER> 031
<NAME> REAL ESTATE INVESTMENT INSTITUTIONAL FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> OCT-31-1999
<INVESTMENTS-AT-COST> 1,189,129
<INVESTMENTS-AT-VALUE> 1,146,206
<RECEIVABLES> 3,413
<ASSETS-OTHER> 101,101
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,250,720
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 103,515
<TOTAL-LIABILITIES> 103,515
<SENIOR-EQUITY> 169
<PAID-IN-CAPITAL-COMMON> 6,200,839
<SHARES-COMMON-STOCK> 169,281
<SHARES-COMMON-PRIOR> 2,339,663
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (5,010,880)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (42,923)
<NET-ASSETS> 1,147,205
<DIVIDEND-INCOME> 602,426
<INTEREST-INCOME> 14,496
<OTHER-INCOME> 0
<EXPENSES-NET> 111,906
<NET-INVESTMENT-INCOME> 505,016
<REALIZED-GAINS-CURRENT> (4,771,531)
<APPREC-INCREASE-CURRENT> 3,984,322
<NET-CHANGE-FROM-OPS> (282,213)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (632,886)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 239,910
<NUMBER-OF-SHARES-REDEEMED> (2,494,932)
<SHARES-REINVESTED> 84,640
<NET-CHANGE-IN-ASSETS> (17,046,138)
<ACCUMULATED-NII-PRIOR> 40,785
<ACCUMULATED-GAINS-PRIOR> 323,689
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 101,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 396,000
<AVERAGE-NET-ASSETS> 11,190,102
<PER-SHARE-NAV-BEGIN> 7.78
<PER-SHARE-NII> 0.37
<PER-SHARE-GAIN-APPREC> (0.90)
<PER-SHARE-DIVIDEND> (0.43)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (0.05)
<PER-SHARE-NAV-END> 6.77
<EXPENSE-RATIO> 1.00
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001018592
<NAME> ALLIANCE INSTITUTIONAL FUNDS, INC.
<SERIES>
<NUMBER> 032
<NAME> REAL ESTATE INVESTMENT INSTITUTIONAL FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> OCT-31-1999
<INVESTMENTS-AT-COST> 1,189,129
<INVESTMENTS-AT-VALUE> 1,146,206
<RECEIVABLES> 3,413
<ASSETS-OTHER> 101,101
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,250,720
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 103,515
<TOTAL-LIABILITIES> 103,515
<SENIOR-EQUITY> 169
<PAID-IN-CAPITAL-COMMON> 6,200,839
<SHARES-COMMON-STOCK> 56
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (5,010,880)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (42,923)
<NET-ASSETS> 1,147,205
<DIVIDEND-INCOME> 602,426
<INTEREST-INCOME> 14,496
<OTHER-INCOME> 0
<EXPENSES-NET> 111,906
<NET-INVESTMENT-INCOME> 505,016
<REALIZED-GAINS-CURRENT> (4,771,551)
<APPREC-INCREASE-CURRENT> 3,984,322
<NET-CHANGE-FROM-OPS> (282,213)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (53)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 13
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 2
<NET-CHANGE-IN-ASSETS> (17,046,138)
<ACCUMULATED-NII-PRIOR> 40,785
<ACCUMULATED-GAINS-PRIOR> 323,689
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 101,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 396,000
<AVERAGE-NET-ASSETS> 394
<PER-SHARE-NAV-BEGIN> 7.77
<PER-SHARE-NII> 0.20
<PER-SHARE-GAIN-APPREC> (0.74)
<PER-SHARE-DIVIDEND> (0.40)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (.04)
<PER-SHARE-NAV-END> 6.79
<EXPENSE-RATIO> 1.40
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[DESCRIPTION]Report of 10f-3 Transactions
Securities Purchased in Underwritings Involving
Transactions with Donaldson, Lufkin, & Jenrette Securities Corporation
Subject to Rule 10f-3 Under the Investment Company Act of 1940
ALLIANCE PREMIER GROWTH INSTITUTIONAL FUND
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD MAY 1, 1999 THROUGH MAY 31, 1999
<CAPTION>
Total % of
Shares Shares Offering Shares
Date Shares % of FundPrice perPurchased bOffered PurchasedPurchased Held
Security* PurchasedPurchasedAssets Share Fund Group (000) By Group(From 05/31/99
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Goldman Sachs Group, Inc. 05/03/99 3,800 0.00% $53.00 1,247,900 60,000 2.08% Goldman Sachs 4,300
Goldman Sachs Group, Inc. 05/03/99 500 0.00% $53.00 1,247,900 60,000 2.08% Donaldson, Lufkin & Jen4,300
Clear Channel Communicatio05/19/99 700 0.00% $70.63 940,000 20,000 4.70% Furman Selz 17,300
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD JUNE 1, 1999 THROUGH OCTOBER 31, 1999
<CAPTION>
Total % of
Shares Shares Offering Shares
Date Shares % of FundPrice perPurchased bOffered PurchasedPurchased Held
Security* PurchasedPurchasedAssets Share Fund Group (000) By Group(From 10/31/99
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NONE
</TABLE>
* Unless otherwise indicated, the securities were part of an issue registered
under the Securities Act of 1933 and offered to the public.
**Indicates the puchase of an Eligible Rule 144A Security.
1) Purchases by all Alliance Funds, including the Fund, may not exceed: (a) if
purchased in an offering other than an Eligible Rule 144A Offering, 25% of the
principal amount of the offering of such class; or (b) if purchased in an
Eligible Rule 144A Offering, 25% of the total of (i) the principal amount
of the offering of such class sold by underwriters or members of the
selling syndicate to qualified institutional buyers, plus (ii) the principal
amount of the offering of such class in any concurrent public offering.
[DESCRIPTION]Report of 10f-3 Transactions
Securities Purchased in Underwritings Involving
Transactions with Donaldson, Lufkin, & Jenrette Securities Corporation
Subject to Rule 10f-3 Under the Investment Company Act of 1940
ALLIANCE QUASAR INSTITUTIONAL FUND
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD MAY 1, 1999 THROUGH MAY 31, 1999
<CAPTION>
Total % of
Shares Shares Offering Shares
Date Shares % of FundPrice perPurchased bOffered PurchasedPurchased Held
Security* PurchasedPurchasedAssets Share Fund Group (000) By Group(From 05/31/99
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Flycast Communications Cor05/04/99 100 0.00% $25.00 29,100 3,000 0.97% BT Alex Brown 0
CAIS Internet, Inc. 05/20/99 200 0.00% $19.00 45,900 6,000 0.77% Bear Stearns 0
Juno Online Services 05/25/99 200 0.00% $13.00 33,200 6,500 0.51% Salomon Smith Barney 0
Starmedia Network, Inc. 05/25/99 400 0.00% $15.00 81,400 8,000 1.02% Goldman Sachs 0
RCN Corp. 05/26/99 3,900 0.00% $39.00 706,700 8,000 8.83% Salomon Smith Barney 4,200
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD JUNE 1, 1999 THROUGH AUGUST 31, 1999
<CAPTION>
Total % of
Shares Shares Offering Shares
Date Shares % of FundPrice perPurchased bOffered PurchasedPurchased Held
Security* PurchasedPurchasedAssets Share Fund Group (000) By Group(From 08/31/99
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Citadel Communications Cor06/21/99 6,600 0.00% $29.25 347,600 10,000 3.48% CS First Boston 0
Globespan, Inc. 06/23/99 200 0.00% $15.00 47,400 3,250 1.46% BancBoston Robertson 0
Internet.com 06/25/99 400 0.00% $14.00 81,800 3,400 2.41% Piper Jaffray 0
Persistence Software, Inc.06/25/99 100 0.00% $11.00 25,100 3,000 0.84% BancBoston Robertson 0
E-Loan, Inc. 06/28/99 100 0.00% $14.00 22,700 3,500 0.65% Goldman Sachs 0
Network Plus Corp. 06/29/99 1,400 0.00% $16.00 283,200 8,000 3.54% Goldman Sachs 0
Commerce One 07/01/99 300 0.00% $21.00 59,000 3,300 1.79% CS First Boston 0
Salem Communications Corp.07/01/99 2,200 0.00% $22.50 133,700 8,400 1.59% DB Clearing 0
Yankee Candle Co. 07/01/99 5,600 0.00% $18.00 292,300 12,500 2.34% Morgan Stanley 0
Commtouch Software Ltd. 07/13/99 200 0.00% $16.00 42,000 3,000 1.40% Piper Jaffray 0
Triquint Semiconductor, In07/13/99 3,000 0.00% $43.63 155,900 3,865 4.03% SG Cowen 4,100
National Information Conso07/15/99 1,000 0.00% $12.00 211,500 13,000 1.63% Lewco Securities 0
Ravisent Technologies, Inc07/15/99 3,400 0.00% $12.00 176,700 5,000 3.53% Bear Stearns 0
Engage Technologies, Inc. 07/19/99 300 0.00% $15.00 63,000 6,000 1.05% Goldman Sachs 0
Insweb Corp. 07/22/99 300 0.00% $17.00 72,800 5,000 1.46% Goldman Sachs 0
Focal Communications 07/27/99 1,200 0.00% $13.00 235,600 9,950 2.37% Salomon Smith Barney 0
Liberate Technologies 07/27/99 300 0.00% $16.00 70,700 6,250 1.13% CS First Boston 0
Digex, Inc. 07/29/99 600 0.00% $17.00 135,600 10,000 1.36% Bear Stearns 6,200
Net2Phone, Inc. 07/29/99 200 0.00% $15.00 41,900 5,400 0.78% Lewco Securities 0
1-800 Flowers.com, Inc. 08/02/99 200 0.00% $21.00 33,700 6,000 0.56% Goldman Sachs 0
The Acrerley Group, Inc. 08/02/99 11,300 0.00% $15.25 595,600 4,200 14.18% Salomon Smith Barney 0
Homestore.com 08/04/99 800 0.00% $20.00 157,400 7,000 2.25% Morgan Stanley 0
Agile Software Corp. 08/19/99 100 0.00% $21.00 13,000 3,000 0.43% Morgan Stanley 0
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD SEPTEMBER 1, 1999 THROUGH OCTOBER 31, 1999
<CAPTION>
Total % of
Shares Shares Offering Shares
Date Shares % of FundPrice perPurchased bOffered PurchasedPurchased Held
Security* PurchasedPurchasedAssets Share Fund Group (000) By Group(From 10/31/99
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SDL, Inc. 09/21/99 200 0.00% $82.00 2,950 14,800 0.02% CIBC World Markets 0
Trintech Group PLC 09/23/99 200 0.00% $11.55 47,300 5,800 0.82% DB Clearing Services 0
Foundry Networks 09/28/99 300 0.00% $25.00 83,500 5,000 1.67% DB Clearing Services 0
Telemate.Net Software, Inc09/29/99 100 0.00% $14.00 23,700 3,500 0.68% Soundview Technology 0
Intermap Network Services 09/29/99 400 0.00% $20.00 112,200 8,700 1.29% Morgan Stanley 0
DII Group, Inc. 09/29/99 2,900 0.00% $33.00 669,800 6,000 11.16% Salomon Smith Barney 2,900
Illuminet Holdings, Inc. 10/07/99 100 0.00% $19.00 22,500 3,900 0.58% Morgan Stanley 0
World Wrestling Federation10/18/99 2,200 0.00% $17.00 133,000 10,000 1.33% Bear Stearns 0
Radio Unica Communications10/18/99 1,300 0.00% $16.00 79,600 6,840 1.16% Salomon Smith Barney 0
Martha Stewart Living Omni10/18/99 500 0.00% $18.00 31,200 7,200 0.43% Advest 0
Aether Systems, Inc. 10/20/99 300 0.00% $16.00 89,400 6,000 1.49% Merrill Lynch 0
Calpine Corp. 10/27/99 8,600 0.00% $46.31 447,200 7,200 6.21% CS First Boston 8,600
Predictive Systems, Inc. 10/27/99 100 0.00% $18.00 31,300 4,000 0.78% BancBoston Robertson 0
</TABLE>
* Unless otherwise indicated, the securities were part of an issue registered
under the Securities Act of 1933 and offered to the public.
**Indicates the puchase of an Eligible Rule 144A Security.
1) Purchases by all Alliance Funds, including the Fund, may not exceed: (a) if
purchased in an offering other than an Eligible Rule 144A Offering, 25% of the
principal amount of the offering of such class; or (b) if purchased in an
Eligible Rule 144A Offering, 25% of the total of (i) the principal amount
of the offering of such class sold by underwriters or members of the
selling syndicate to qualified institutional buyers, plus (ii) the principal
amount of the offering of such class in any concurrent public offering.
[DESCRIPTION]Report of 10f-3 Transactions
Securities Purchased in Underwritings Involving
Transactions with Donaldson, Lufkin, & Jenrette Securities Corporation
Subject to Rule 10f-3 Under the Investment Company Act of 1940
ALLIANCE REAL ESTATE INVESTMENT INSTITUTIONAL FUND
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD MAY 1, 1999 THROUGH MAY 31, 1999
<CAPTION>
Total % of
Shares Shares Offering Shares
Date Shares % of FundPrice perPurchased bOffered PurchasedPurchased Held
Security* PurchasedPurchasedAssets Share Fund Group (000) By Group(From 05/31/99
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Hospitality Properties Tru05/05/99 4,200 0.00% $26.81 124,100 7,000 1.77% Merrill Lynch 8,100
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD JUNE 1, 1999 THROUGH AUGUST 31, 1999
<CAPTION>
Total % of
Shares Shares Offering Shares
Date Shares % of FundPrice perPurchased bOffered PurchasedPurchased Held
Security* PurchasedPurchasedAssets Share Fund Group (000) By Group(From 08/31/99
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Mission West Holdings 06/29/99 8,100 0.00% $8.25 243,400 7,750 3.14% Edwards, AG & Sons 64,800
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD SEPTEMBER 1, 1999 THROUGH OCTOBER 31, 1999
<CAPTION>
Total % of
Shares Shares Offering Shares
Date Shares % of FundPrice perPurchased bOffered PurchasedPurchased Held
Security* PurchasedPurchasedAssets Share Fund Group (000) By Group(From 10/31/99
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
NONE
</TABLE>
* Unless otherwise indicated, the securities were part of an issue registered
under the Securities Act of 1933 and offered to the public.
**Indicates the puchase of an Eligible Rule 144A Security.
1) Purchases by all Alliance Funds, including the Fund, may not exceed: (a) if
purchased in an offering other than an Eligible Rule 144A Offering, 25% of the
principal amount of the offering of such class; or (b) if purchased in an
Eligible Rule 144A Offering, 25% of the total of (i) the principal amount
of the offering of such class sold by underwriters or members of the
selling syndicate to qualified institutional buyers, plus (ii) the principal
amount of the offering of such class in any concurrent public offering.
Report of Independent Auditors
To the Shareholders and Board of Directors of
Alliance Institutional Funds
In planning and performing our audit of the financial statements of the
Alliance Institutional Funds (comprised, respectively, of the Alliance Premier
Growth Institutional Fund, Alliance Quasar Institutional Fund, Alliance Real
Estate Investment Institutional Fund and Alliance Special Equity Institutional
Fund) for the year ended October 31, 1999, we considered its internal control,
including control activities for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of Form N-SAR,
not to provide assurance on internal control.
The management of Alliance Institutional Funds is responsible for establishing
and maintaining internal control. In fulfilling this responsibility, estimates
and judgments by management are required to assess the expected benefits and
related costs of controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial statements for
external purposes that are fairly presented in conformity with generally
accepted accounting principles. Those controls include the safeguarding of
assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, error or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation
may deteriorate.
Our consideration of internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or
more of the internal control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving internal control and its operation, including controls for
safeguarding securities, that we consider to be material weaknesses as defined
above at October 31, 1999.
This report is intended solely for the information and use of management, the
Board of Directors of Alliance Institutional Funds, and the Securities and
Exchange Commission and is not intended to be and should not be used by anyone
other than these specified parties.
ERNST & YOUNG LLP
December 2, 1999
