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THE ALLIANCE(R) STOCK FUNDS
- Strategic Balanced Fund
- Balanced Shares
Supplement dated February 28, 1996 to
Prospectus dated February 1, 1996
Management of the Funds - Adviser
Strategic Balanced Fund - The person primarily
responsible for the day-to-day management of the portfolio
of Alliance Strategic Balanced Fund is Robert G.
Heisterberg. Mr. Heisterberg, a Senior Vice President of
the Adviser and Global Economic Policy Analyst, has been
associated with Alliance since 1977.
Balanced Shares - The person primarily responsible
for the day-to-day management of the portfolio of Alliance
Balanced Shares is Kevin J. O'Brien. Mr. O'Brien, a Senior
Vice President of the Adviser, has been associated with
Alliance since 1988.
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(R) These are registered trademarks used under license from
the owner, Alliance Capital Management L.P.
00250027.AE7
