<PAGE> PAGE 1
000 B000000 11/30/1999
000 C000000 0000019614
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 THE ALLIANCE FUND, INC.
001 B000000 811-00204
001 C000000 2013194105
002 A000000 500 PLAZA DRIVE
002 B000000 SECAUCUS
002 C000000 NJ
002 D010000 07094
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 ALLIANCE CAPITAL MANAGEMENT L.P.
008 B000001 A
008 C000001 801-32361
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10105
011 A000001 ALLIANCE FUND DISTRIBUTORS, INC.
011 B000001 8-30851
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10105
012 A000001 ALLIANCE FUND SERVICES, INC.
012 B000001 84-0001187
012 C010001 SECAUCUS
012 C020001 NJ
012 C030001 07096
013 A000001 PRICEWATERHOUSECOOPERS LLP
013 B010001 NEW YORK
013 B020001 NY
<PAGE> PAGE 2
013 B030001 10036
013 B040001 2798
014 A000001 DONALDSON LUFKIN & JENRETTE SECURITIES CORP.
014 B000001 8-00017574
015 A000001 STATE STREET BANK AND TRUST CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 51
019 C000000 ALLIANCECA
020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000001 13-5674085
020 C000001 585
020 A000002 SALOMON SMITH BARNEY, INC.
020 B000002 13-1912900
020 C000002 575
020 A000003 CS FIRST BOSTON CORP.
020 B000003 13-5659485
020 C000003 295
020 A000004 LEHMAN BROTHERS, INC.
020 B000004 13-2518466
020 C000004 281
020 A000005 MORGAN (J.P.) SECURITIES, INC.
020 B000005 13-3224016
020 C000005 249
020 A000006 DB CLEARING SERVICES
020 C000006 225
020 A000007 MORGAN STANLEY, DEAN WITTER, INC.
020 C000007 201
020 A000008 PAINEWEBBER, INC.
020 B000008 13-2638166
020 C000008 183
020 A000009 BANK OF AMERICA SECURITIES, INC.
020 C000009 127
020 A000010 GOLDMAN, SACHS & CO.
020 B000010 13-5108880
020 C000010 127
021 000000 3834
022 A000001 STATE STREET BANK AND TRUST CO.
022 B000001 04-1867445
022 C000001 1327822
022 D000001 0
022 A000002 PRUDENTIAL SECURITIES, INC.
022 B000002 22-2347336
022 C000002 292281
022 D000002 4096
022 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
<PAGE> PAGE 3
022 B000003 13-5674085
022 C000003 69215
022 D000003 50818
022 A000004 FORD MOTOR CREDIT CORP.
022 C000004 102952
022 D000004 0
022 A000005 LEHMAN BROTHERS, INC.
022 B000005 13-2518466
022 C000005 70096
022 D000005 14930
022 A000006 MORGAN, (J.P.) SECURITIES, INC.
022 B000006 13-3224016
022 C000006 83607
022 D000006 0
022 A000007 MORGAN STANLEY, DEAN WITTER, INC.
022 C000007 24864
022 D000007 54938
022 A000008 GOLDMAN SACHS AND CO.
022 B000008 13-5108880
022 C000008 14339
022 D000008 58278
022 A000009 BANK OF AMERICA SECURITIES, INC.
022 C000009 36836
022 D000009 33758
022 A000010 CS FIRST BOSTON CORP.
022 B000010 13-5659485
022 C000010 16538
022 D000010 42883
023 C000000 2147541
023 D000000 369696
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 N
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 119621
028 A020000 0
<PAGE> PAGE 4
028 A030000 0
028 A040000 109930
028 B010000 61504
028 B020000 0
028 B030000 0
028 B040000 86977
028 C010000 94668
028 C020000 0
028 C030000 0
028 C040000 91903
028 D010000 97152
028 D020000 0
028 D030000 0
028 D040000 108896
028 E010000 134082
028 E020000 0
028 E030000 0
028 E040000 108726
028 F010000 120210
028 F020000 0
028 F030000 0
028 F040000 165446
028 G010000 627237
028 G020000 0
028 G030000 0
028 G040000 671878
028 H000000 359208
029 000000 Y
030 A000000 541
030 B000000 4.25
030 C000000 4.25
031 A000000 71
031 B000000 0
032 000000 470
033 000000 0
034 000000 Y
035 000000 215
036 A000000 Y
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
<PAGE> PAGE 5
042 H000000 0
043 000000 3368
044 000000 558
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 500000
048 A020000 0.750
048 B010000 500000
048 B020000 0.650
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 1000000
048 K020000 0.550
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 N
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
<PAGE> PAGE 6
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 250
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 N
066 E000000 Y
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 Y
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 N
<PAGE> PAGE 7
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 1123428
071 B000000 1235358
071 C000000 1156119
071 D000000 97
072 A000000 12
072 B000000 444
072 C000000 7132
072 D000000 0
072 E000000 0
072 F000000 7897
072 G000000 131
072 H000000 0
072 I000000 1186
072 J000000 208
072 K000000 0
072 L000000 170
072 M000000 19
072 N000000 96
072 O000000 96
072 P000000 0
072 Q000000 0
072 R000000 57
072 S000000 25
072 T000000 3368
072 U000000 0
072 V000000 0
072 W000000 13
072 X000000 13266
<PAGE> PAGE 8
072 Y000000 0
072 Z000000 -5690
072AA000000 115329
072BB000000 0
072CC010000 239978
072CC020000 0
072DD010000 0
072DD020000 0
072EE000000 68774
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.3900
073 C000000 0.0000
074 A000000 0
074 B000000 0
074 C000000 0
074 D000000 0
074 E000000 0
074 F000000 1285072
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 16839
074 K000000 0
074 L000000 4740
074 M000000 0
074 N000000 1306651
074 O000000 6644
074 P000000 1077
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 30910
074 S000000 0
074 T000000 1268020
074 U010000 149448
074 U020000 20224
074 V010000 7.55
074 V020000 6.87
074 W000000 0.0000
074 X000000 50312
074 Y000000 0
075 A000000 0
075 B000000 1156119
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
<PAGE> PAGE 9
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 Y
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 ICI MUTUAL INSURNACE CO
080 B000000 GULF INSURANCE CO, CHUBB
080 C000000 83000
081 A000000 Y
081 B000000 105
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE JOSEPH REZABEK
TITLE ASST. VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000019614
<NAME> THE ALLIANCE FUND, INC.
<SERIES>
<NUMBER> 001
<NAME> THE ALLIANCE FUND, INC.
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> NOV-30-1999
<PERIOD-START> DEC-01-1998
<PERIOD-END> NOV-30-1999
<INVESTMENTS-AT-COST> 993,719,000
<INVESTMENTS-AT-VALUE> 1,285,071,755
<RECEIVABLES> 21,578,897
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,306,650,652
<PAYABLE-FOR-SECURITIES> 6,644,143
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 31,986,503
<TOTAL-LIABILITIES> 38,630,646
<SENIOR-EQUITY> 1,696,724
<PAID-IN-CAPITAL-COMMON> 868,663,110
<SHARES-COMMON-STOCK> 149,448,193
<SHARES-COMMON-PRIOR> 159,591,089
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 106,307,417
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 291,352,755
<NET-ASSETS> 1,268,020,006
<DIVIDEND-INCOME> 7,132,111
<INTEREST-INCOME> 443,694
<OTHER-INCOME> 0
<EXPENSES-NET> (13,266,251)
<NET-INVESTMENT-INCOME> (5,690,446)
<REALIZED-GAINS-CURRENT> 115,329,294
<APPREC-INCREASE-CURRENT> 239,978,038
<NET-CHANGE-FROM-OPS> 349,616,886
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (60,710,238)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 79,279,210
<NUMBER-OF-SHARES-REDEEMED> (98,265,614)
<SHARES-REINVESTED> 8,843,508
<NET-CHANGE-IN-ASSETS> 196,846,273
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 65,442,232
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7,897,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,266,000
<AVERAGE-NET-ASSETS> 1,031,632,669
<PER-SHARE-NAV-BEGIN> 5.97
<PER-SHARE-NII> (0.03)
<PER-SHARE-GAIN-APPREC> 2.00
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.39)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.55
<EXPENSE-RATIO> 1.06
[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> 0000019614
<NAME> THE ALLIANCE FUND, INC.
<SERIES>
<NUMBER> 002
<NAME> THE ALLIANCE FUND, INC.
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> NOV-30-1999
<PERIOD-START> DEC-01-1998
<PERIOD-END> NOV-30-1999
<INVESTMENTS-AT-COST> 993,719,000
<INVESTMENTS-AT-VALUE> 1,285,071,755
<RECEIVABLES> 21,578,897
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,306,650,652
<PAYABLE-FOR-SECURITIES> 6,644,143
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 31,986,503
<TOTAL-LIABILITIES> 38,630,646
<SENIOR-EQUITY> 1,696,724
<PAID-IN-CAPITAL-COMMON> 868,663,110
<SHARES-COMMON-STOCK> 14,825,338
<SHARES-COMMON-PRIOR> 15,499,133
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 106,307,417
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 291,352,755
<NET-ASSETS> 1,268,020,006
<DIVIDEND-INCOME> 7,132,111
<INTEREST-INCOME> 443,694
<OTHER-INCOME> 0
<EXPENSES-NET> (13,266,251)
<NET-INVESTMENT-INCOME> (5,690,446)
<REALIZED-GAINS-CURRENT> 115,329,294
<APPREC-INCREASE-CURRENT> 239,978,038
<NET-CHANGE-FROM-OPS> 349,616,886
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (5,904,101)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,895,002
<NUMBER-OF-SHARES-REDEEMED> (6,665,339)
<SHARES-REINVESTED> 1,096,542
<NET-CHANGE-IN-ASSETS> 196,846,273
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 65,442,232
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7,897,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,266,000
<AVERAGE-NET-ASSETS> 91,590,049
<PER-SHARE-NAV-BEGIN> 5.51
<PER-SHARE-NII> (0.07)
<PER-SHARE-GAIN-APPREC> 1.82
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.39)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.87
<EXPENSE-RATIO> 1.89
[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> 0000019614
<NAME> THE ALLIANCE FUND, INC.
<SERIES>
<NUMBER> 003
<NAME> THE ALLIANCE FUND, INC.
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> NOV-30-1999
<PERIOD-START> DEC-01-1998
<PERIOD-END> NOV-30-1999
<INVESTMENTS-AT-COST> 993,719,000
<INVESTMENTS-AT-VALUE> 1,285,071,755
<RECEIVABLES> 21,578,897
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,306,650,652
<PAYABLE-FOR-SECURITIES> 6,644,143
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 31,986,503
<TOTAL-LIABILITIES> 38,630,646
<SENIOR-EQUITY> 1,696,724
<PAID-IN-CAPITAL-COMMON> 868,663,110
<SHARES-COMMON-STOCK> 4,083,202
<SHARES-COMMON-PRIOR> 3,857,465
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 106,307,417
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 291,352,755
<NET-ASSETS> 1,268,020,006
<DIVIDEND-INCOME> 7,132,111
<INTEREST-INCOME> 443,694
<OTHER-INCOME> 0
<EXPENSES-NET> (13,266,251)
<NET-INVESTMENT-INCOME> (5,690,446)
<REALIZED-GAINS-CURRENT> 115,329,294
<APPREC-INCREASE-CURRENT> 239,978,038
<NET-CHANGE-FROM-OPS> 349,616,886
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (1,431,253)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 63,782,370
<NUMBER-OF-SHARES-REDEEMED> (63,833,017)
<SHARES-REINVESTED> 276,384
<NET-CHANGE-IN-ASSETS> 196,846,273
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 65,442,232
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7,897,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,266,000
<AVERAGE-NET-ASSETS> 28,577,065
<PER-SHARE-NAV-BEGIN> 5.50
<PER-SHARE-NII> (0.08)
<PER-SHARE-GAIN-APPREC> 1.83
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.39)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.86
<EXPENSE-RATIO> 1.86
[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> 0000019614
<NAME> THE ALLIANCE FUND, INC.
<SERIES>
<NUMBER> 004
<NAME> THE ALLIANCE FUND, INC.
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> NOV-30-1999
<PERIOD-START> DEC-01-1998
<PERIOD-END> NOV-30-1999
<INVESTMENTS-AT-COST> 993,719,000
<INVESTMENTS-AT-VALUE> 1,285,071,755
<RECEIVABLES> 21,578,897
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,306,650,652
<PAYABLE-FOR-SECURITIES> 6,644,143
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 31,986,503
<TOTAL-LIABILITIES> 38,630,646
<SENIOR-EQUITY> 1,696,724
<PAID-IN-CAPITAL-COMMON> 868,663,110
<SHARES-COMMON-STOCK> 1,315,668
<SHARES-COMMON-PRIOR> 1,890,240
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 106,307,417
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 291,352,755
<NET-ASSETS> 1,268,020,006
<DIVIDEND-INCOME> 7,132,111
<INTEREST-INCOME> 443,694
<OTHER-INCOME> 0
<EXPENSES-NET> (13,266,251)
<NET-INVESTMENT-INCOME> (5,690,446)
<REALIZED-GAINS-CURRENT> 115,329,294
<APPREC-INCREASE-CURRENT> 239,978,038
<NET-CHANGE-FROM-OPS> 349,616,886
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (728,071)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 357,391
<NUMBER-OF-SHARES-REDEEMED> (1,063,852)
<SHARES-REINVESTED> 131,889
<NET-CHANGE-IN-ASSETS> 196,846,273
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 65,442,232
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7,897,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,266,000
<AVERAGE-NET-ASSETS> 11,293,900
<PER-SHARE-NAV-BEGIN> 5.98
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> 2.00
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.39)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.58
<EXPENSE-RATIO> .85
[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 Fund
<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>
Genetech Inc. 07/20/99 19,600 0.00% $97.00 201,900 20,000 1.01% Morgan (J.P.) Securitie0
Repsol 07/07/99 211,200 0.00% $20.47 2,577,800 57,000 4.52% Goldman Sachs & Co. 246,200
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD OF SEPTEMBER 1,1999 THROUGH NOVEMBER 30,1999
<CAPTION>
Total
Date Shares % of FundPrice perPurchased bOffered Purchased Held
Security* PurchasedPurchasedAssets Share Fund Group (000) By Group Broker(s) 11/30/99
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Ivillage Inc. 11/23/99 295,000 0.00% $30.00 1,427,500 12,500 11.42% Salomon Smith Barney 400,000
</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 Accountants
To the Board of Directors and Shareholders of
The Alliance Fund, Inc.
In planning and performing our audit of the financial statements of The
Alliance Fund, Inc. (the "Fund") for the year ended November 30, 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 the Fund is responsible for establishing and
maintaining internal control. In fulfilling this responsibility,
estimates and judgements 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
as of November 30, 1999.
This report is intended solely for the information and use of management
and the Board of Directors of the Fund and the Securities and Exchange
Commission, and is not intended to be and should not be used by anyone
other than these specified parties.
PricewaterhouseCoopers LLP
New York, NY 10036
January 24, 2000
asdfsdfsdf
asdfasdfds
(2)
c:\temp\ab acm nsar the alliance fund 99.doc
