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<PAGE>
This is filed pursuant to Rule 497(e).
File nos. 2-70427 and 811-03131
<PAGE>
THE ALLIANCE STOCK FUNDS
- Alliance Utility Income Fund
Supplement dated July 24, 1996 to
Prospectus dated February 1, 1996
Management of the Funds - Adviser
Utility Income Fund - The person primarily
responsible for the day-to-day management of the portfolio
of Utility Income Fund is Paul Rissman. Mr. Rissman, a Vice
President of ACMC, has been associated with Alliance since
1989.
00250156.AK8
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