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Alliance
Municipal
Trust
- Connecticut Portfolio
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AllianceCapital [LOGO](R)
Annual Report
June 30, 2000
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<PAGE>
LETTER TO SHAREHOLDERS Alliance Municipal Trust - Connecticut Portfolio
===============================================================================
August 2, 2000
Dear Shareholder:
We are pleased to provide you with an update of Alliance Municipal Trust
- Connecticut Portfolio for the annual reporting period ended June 30, 2000.
U.S. financial markets were anticipating some signs of a slowdown for the first
half of 2000 -- some sign that past Fed rate hikes were having an effect and
that little, if any, further tightening would be necessary. The U.S. economy,
however, has continued to grow. The U.S. Commerce Department recently reported
that the U.S. economy grew at an impressive, seasonally-adjusted annual rate of
+5.2% during the spring quarter. Inflation, as measured by the broad and
reliable gross domestic purchases and personal consumption price indices, held
stable at 2.5% on a year-earlier basis. The second-quarter growth number, well
above the 3.5% to 4.0%, consensus and actually faster than a downward-revised
quarter-one growth rate of +4.8%, created immediate anxiety. As a result,
interest rates headed higher and stock prices headed lower.
The U.S. economy's gross domestic product report does, however, give evidence
to some signs of cooling off. For example, a key measure of aggregate demand
(real final sales) slowed sharply to +4.2% from +6.7% in the first quarter.
Monthly evidence that consumers had taken a break from their long-running
shopping spree was confirmed. Household spending dipped to just +3.0% in the
second quarter versus +7.6% in the first quarter. Unwanted inventories added a
full percentage point to second-quarter growth. We also believe that a more
meaningful comparison can be made between growth during the second half of 1999
(+7.0%) and growth during the first half of this year (+5.0%).
In his late-July Congressional testimony, Fed Chairman Alan Greenspan laid out
an upbeat forecast for the U.S. economy and rendered a somewhat
self-congratulatory assessment of the role the Federal Reserve has played in
securing that future. To be sure, we welcome his endorsement of both the "New
Economy" paradigm and our own bullishness about accelerating productivity. The
subsequent report on employment costs, showing a quarter-to-quarter gain of
only 1.0% in the spring versus a 1.4% rise in the first quarter, and the
soon-to-be-released report on second-quarter productivity, should help to
validate the Chairman's optimism. Mr. Greenspan is repositioning the Fed to
play a more reactive role going forward. He understands that financial markets
should and must take the lead role in terms of steering the New Economy. As a
consequence, although we still believe the Fed will tighten further, we look
for that tightening to come late in the year and only after the bond market has
laid sthe groundwork.
As for U.S. financial markets, the road to higher prices will be a bit bumpier
than we expected. Inaction by the Fed toward the end of August could open the
window to the upside, but for now we see more volatility than opportunity. With
an election in front of us, the next several months could be a difficult time
for investors. Therefore investors may want to use periods of asset market
strength to establish more defensive positions.
We appreciate your investment in the portfolios of Alliance Municipal Trust -
Connecticut Portfolio and look forward to reporting further investment progress
in the coming period.
Sincerely,
/s/ Ronald M. Whitehill
Ronald M. Whitehill
President
1
<PAGE>
STATEMENT OF NET ASSETS
June 30, 2000 Alliance Municipal Trust - Connecticut Portfolio
===============================================================================
Principal
Amount
(000) Security(a) Yield Value
-------------------------------------------------------------------------------
MUNICIPAL BONDS - 99.9%
ARKANSAS - 2.2%
Blytheville IDA
(Nucor Corp. Project)
Series 98
AMT
$ 3,500 6/01/28 (b)...................... 5.00% $ 3,500,000
-------------
CONNECTICUT - 79.9%
Connecticut Development
Authority
(Central Vermont Public
Service)
Series 85
1,000 12/01/15 (b)..................... 4.30 1,000,000
Connecticut Development
Authority
(Independent Living)
Series 90
6,610 7/01/15 (b)...................... 4.65 6,610,000
Connecticut Development
Authority
(Northeast Foods, Inc.)
Series 98
AMT
4,900 6/01/13 (b)...................... 4.90 4,900,000
Connecticut Development
Authority
(Pierce Memorial Baptist
Home)
Series 99
990 10/01/28 (b)..................... 4.63 990,000
Connecticut Development
Authority
(Rand Whitney Project)
Series 93
AMT
9,500 8/01/23 (b)...................... 4.20 9,500,000
Connecticut Development
Authority
(Regional YMCA Western
Connecticut)
Series 88
798 6/01/08 (b)...................... 4.75 798,000
Connecticut Development
Authority PCR
(Connecticut Light and
Power Co.)
Series 96A AMBAC
AMT
11,900 5/01/31 (b)...................... 4.40 11,900,000
Connecticut GO
Series 92B
1,000 11/15/00......................... 3.80 1,007,814
Connecticut GO
Series 95A
2,000 3/15/01.......................... 4.10 2,012,294
Connecticut GO
Series 95B
3,385 10/01/00......................... 3.95 3,398,814
Connecticut GO
Series 97B
10,500 5/15/14 (b)...................... 4.30 10,500,000
Connecticut HEFA
(Ascension Health Credit
Group)
Series 99B
8,400 11/15/29 (b)..................... 5.00 8,400,000
Connecticut HEFA
(Bradley Health Care)
Series 97B
5,500 7/01/29 (b)...................... 4.10 5,500,000
Connecticut HEFA
(Charlotte Hungerford
Hospital)
Series 98C
2,080 7/01/13 (b)...................... 4.60 2,080,000
Connecticut HEFA
(Community Renewal
Team)
Series A
2,085 7/01/19 (b)...................... 4.60 2,085,000
Connecticut HEFA
(Connecticut State
University Systems)
FSA Series 99C
1,035 11/01/00......................... 3.90 1,042,080
Connecticut HEFA
(Ethel Walker School)
Series 00A
4,250 7/01/29 (b)...................... 4.65 4,250,000
Connecticut HEFA
(Jerome Home Project)
Series 97C
3,525 7/01/29 (b)...................... 4.10 3,525,000
Connecticut HEFA
(Kingswood-Oxford
School Inc.)
Series 89
910 2/01/09 (b)...................... 4.75 910,000
2
<PAGE>
Alliance Municipal Trust - Connecticut Portfolio
===============================================================================
Principal
Amount
(000) Security(a) Yield Value
-------------------------------------------------------------------------------
Connecticut HEFA
(Marvelwood School)
Series 00A
$ 1,100 7/01/30 (b)...................... 4.50% $ 1,100,000
Connecticut HEFA
(Pomfret School Issue)
Series 95A
1,000 7/01/24 (b)...................... 4.65 1,000,000
Connecticut HEFA
(St. Mary's Hospital)
Series 90C
Pre-refunded
1,500 7/01/00.......................... 7.38 1,530,000
Connecticut HEFA
(St. Raphel Hospital)
Series 98J
5,000 7/01/22 (b) ..................... 4.50 5,000,000
Connecticut HEFA
(St. Raphel Hospital)
Series 98K
2,100 7/01/22 (b) ..................... 4.50 2,100,000
Connecticut HEFA
(Summerwood at
University Park)
Series 00A
1,900 7/01/30 (b) ..................... 4.50 1,900,000
Connecticut HEFA
(Yale University)
Series 97T
3,400 7/01/29 (b)...................... 4.35 3,400,000
Connecticut HEFA
(Yale University)
Series 99U
5,000 7/01/33 (b) ..................... 4.55 5,000,000
Connecticut Special
Assesment
(Unemployment Revenue)
Series 93C FGIC (PPB)
4,500 11/15/01 (b) .................... 4.35 4,500,000
Connecticut Special
Tax Obligation
(2nd Lien Transportation
Infrastructure)
Series 90-1
10,700 12/01/10 (b) .................... 4.75 10,700,000
Connecticut Special
Tax Obligation
(Transport Infrastructure
Escrowed to Maturity)
Series 91
3,000 10/01/00 ........................ 3.73 3,045,968
Connecticut Special
Tax Obligation
(Transport Infrastructure)
Series 92B
4,275 9/01/00 ......................... 3.25 4,285,905
Hartford GO
FGIC Series 00
1,000 6/15/01 ......................... 4.38 1,033,478
Meriden GO
AMBAC Series 99
2,670 8/01/00 ......................... 3.50 2,672,861
Norwalk GO
Series 99
1,000 7/12/00 ......................... 3.33 1,000,049
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128,677,263
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GEORGIA - 1.3%
Gainesville & Hall
County
(Senior Living Facility
Lanier Village)
Series 99A
2,000 11/15/10 (b) .................... 4.80 2,000,000
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ILLINOIS - 1.3%
Madison County
(Shell Oil/Wood River
Project)
Series 97
AMT
1,100 4/01/32 (b) ..................... 4.70 1,100,000
St. Charles IDA
(Pier 1 Imports - Midwest
Project)
AMT
1,000 12/15/26 (b) .................... 5.15 1,000,000
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2,100,000
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INDIANA - 3.1%
Whitting PCR
(Amoco Oil Project)
Series 99
AMT
5,000 1/01/26 (b) ..................... 4.70 5,000,000
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3
<PAGE>
STATEMENT OF NET ASSETS (continued) Alliance Muncipal Trust -
Connecticut Portfolio
===============================================================================
Principal
Amount
(000) Security(a) Yield Value
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PENNSYLVANIA - 1.0%
Allegheny County IDA
(Carrington of South Hills)
Series 96
AMT
1,600 7/01/26 (b) ..................... 4.90% $ 1,600,000
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TENNESSEE - 3.7%
Volunteer Student
Fdg Corp.
(Student Funding Corp.)
Series 87A-3
AMT
6,000 12/01/17 (b) .................... 4.85 6,000,000
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TEXAS - 6.2%
Gulf Coast IDA
(Citgo Petroleum Corp.)
Series 94
AMT
2,300 4/01/26 (b) ..................... 4.75 2,300,000
Gulf Coast SWR
(Citgo Petroleum Corp.)
Series 95
AMT
1,500 5/01/25 (b) ..................... 4.75 1,500,000
Panhandle Plains
(Student Loan Revenue)
Series 95A
AMT
1,500 6/01/21 (b) ..................... 4.80 1,500,000
Panhandle Plains
(Student Loan Revenue)
Series 97X
AMT
3,500 6/01/27 (b) ..................... 4.80 3,500,000
Port Corpus Christi IDA
(Citgo Petroleum Corp.)
Series 98-2
AMT
1,200 8/01/28 (b) ..................... 4.75 1,200,000
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10,000,000
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WASHINGTON - 1.2%
Port of Port Angeles IDA
(Daishowa America Project)
Series 92B
AMT
2,000 8/01/07 (b) ..................... 4.95 2,000,000
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Total Municipal Bonds
(amortized cost
$160,877,263) ................... 160,877,263
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COMMERCIAL PAPER - 3.4%
CONNECTICUT - 3.4%
Connecticut Development
Authority
(New England Power Co.
Project)
Series 99
2,000 7/10/00 ......................... 4.05 2,000,000
Connecticut HEFA
(Yale University)
Series S-2
1,500 9/05/00 ......................... 4.05 1,500,000
Connecticut Special
Assessment Injury
Fund Notes
Series 97
2,000 9/14/00 ......................... 4.60 2,000,000
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Total Commercial Paper
(amortized cost
$5,500,000) ..................... 5,500,000
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TOTAL INVESTMENTS - 103.3%
(amortized cost
$166,377,263) ................... 166,377,263
Other assets less
liabilities - (3.3%) ............ (5,377,430)
-------------
NET ASSETS - 100%
(offering and redemption
price of $1.00 per share;
161,029,425 shares
outstanding) .................... $ 160,999,833
=============
4
<PAGE>
Alliance Municipal Trust - Connecticut Portfolio
===============================================================================
(a) All securities either mature or their interest rate changes in 397 days
or less.
(b) Variable Rate Demand Notes (VRDN) are instruments whose interest rates
change on a specified date (such as coupon date or interest payment date)
or whose interest rates vary with changes in a designated base rate (such
as the prime interest rate). These instruments are payable on demand and
are secured by letters of credit or other credit support agreements from
major banks. Periodic Put Bonds (PPB) are payable on demand quarterly,
semi-annually or annually and their interest rates change less frequently
than rates on Variable Rate Demand Notes.
Glossary of Terms:
AMBAC - American Municipal Bond Assurance Corporation
AMT - Alternative Minimum Tax
FGIC - Financial Guaranty Insurance Company
FSA - Financial Security Assurance, Inc.
GO - General Obligation
HEFA - Health & Educational Facility Authority
IDA - Industrial Development Authority
PCR - Pollution Control Revenue
SWR - Solid Waste Revenue
See notes to financial statements.
5
<PAGE>
STATEMENT OF OPERATIONS
Year Ended June 30, 2000 Alliance Municipal Trust - Connecticut Portfolio
===============================================================================
<TABLE>
<S> <C> <C>
INVESTMENT INCOME
Interest .................................................. $ 6,012,615
EXPENSES
Advisory fee (Note B) ..................................... $ 827,556
Distribution assistance and administrative service (Note C) 737,017
Custodian fees ............................................ 74,034
Transfer agency (Note B) .................................. 70,349
Printing .................................................. 24,681
Audit and legal fees ...................................... 18,026
Registration fees ......................................... 10,655
Trustees' fees ............................................ 3,172
Miscellaneous ............................................. 2,314
-----------
Total expenses ............................................ 1,767,804
Less: expense reimbursement ............................... (112,692)
-----------
Net expenses .............................................. 1,655,112
-----------
NET INCREASE IN NET ASSETS FROM OPERATIONS ................... $ 4,357,503
===========
</TABLE>
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See notes to financial statements.
6
<PAGE>
STATEMENT OF CHANGES
IN NET ASSETS Alliance Municipal Trust - Connecticut Portfolio
===============================================================================
<TABLE>
<CAPTION>
Year Ended Year Ended
June 30, 2000 June 30, 1999
------------- --------------
<S> <C> <C>
INCREASE IN NET ASSETS FROM OPERATIONS
Net investment income .................... $ 4,357,503 $ 3,397,313
DIVIDENDS TO SHAREHOLDERS FROM:
Net investment income .................... (4,357,503) (3,397,313)
TRANSACTIONS IN SHARES OF BENEFICIAL INTEREST
Net increase (Note E) .................... 17,598,560 19,294,307
------------- -------------
Total increase ........................... 17,598,560 19,294,307
NET ASSETS
Beginning of period ...................... 143,401,273 124,106,966
------------- -------------
End of period ............................ $ 160,999,833 $ 143,401,273
============= =============
</TABLE>
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See notes to financial statements.
7
<PAGE>
NOTES TO FINANCIAL STATEMENTS
June 30, 2000 Alliance Municipal Trust - Connecticut Portfolio
===============================================================================
NOTE A: Significant Accounting Policies
Alliance Municipal Trust (the "Fund") is registered under the Investment
Company Act of 1940 as an open-end investment company. The Fund operates as a
series company currently consisting of: Alliance Municipal Trust-General
Portfolio, Alliance Municipal Trust-New York Portfolio, Alliance Municipal
Trust-California Portfolio, Alliance Municipal Trust-Connecticut Portfolio (the
"Portfolio"), Alliance Municipal Trust-New Jersey Portfolio, Alliance Muncipal
Trust-Virginia Portfolio, Alliance Municipal Trust-Florida Portfolio and
Alliance Municipal Trust-Massachusetts Portfolio. Each series is considered to
be a separate entity for financial reporting and tax purposes. The Portfolio
pursues its objectives by maintaining a portfolio of high-quality money market
securities all of which, ,at the time of investment, have remaining maturities
of 397 days or less. The financial statements have been prepared in conformity
with accounting principles generally accepted in the United States, which
require management to make certain estimates and assumptions that affect the
reported amounts of assets and liabilities in the financial statements and
amounts of income and expenses during the reporting period. Actual results
could differ from those estimates. The following is a summary of significant
accounting policies followed by the Portfolio.
1. Valuation of Securities
Securities in which the Portfolio invests are traded primarily in the
over-the-counter market and are valued at amortized cost, under which method a
portfolio instrument is valued at cost and any premium or discount is amortized
on a constant basis to maturity. Amortization of premium is charged to income.
Accretion of market discount is credited to unrealized gains.
2. Taxes
It is the policy of the Portfolio to meet the requirements of the Internal
Revenue Code applicable to regulated investment companies and to distribute all
of its investment company taxable income and net realized gains, if any, to
shareholders. Therefore, no provisions for federal income or excise taxes are
required.
3. Dividends
The Portfolio declares dividends daily from net investment income and
automatically reinvests such dividends in additional shares at net asset value.
Net realized capital gains on investments, if any, are expected to be
distributed near year end. Dividends paid from net investment income for the
year ended June 30, 2000, are exempt from federal income taxes. However,
certain shareholders may be subject to the alternative minimum tax.
4. Investment Income and Investment Transactions
Interest income is accrued as earned. Investment transactions are recorded on a
trade date basis. Realized gain (loss) from investment transactions is recorded
on the identified cost basis.
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NOTE B: Advisory Fee and Transactions with an Affiliate of the Adviser
The Portfolio pays its Adviser, Alliance Capital Management L.P., an advisory
fee at the annual rate of .50% on the first $1.25 billion of average daily net
assets; .49% on the next $.25 billion; .48% on the next $.25 billion; .47% on
the next $.25 billion; .46% on the next $1 billion; and .45% in excess of $3
billion. The Adviser has agreed, pursuant to the advisory agreement, to
reimburse the Portfolio to the extent that its annual aggregate expenses
(excluding taxes, brokerage, interest and, where permitted, extraordinary
expenses) exceed 1% of its average daily net assets for any fiscal year. For
the year ended June 30, 2000, the reimbursement amounted to $112,692.
The Portfolio compensates Alliance Fund Services, Inc., a wholly-owned
subsidiary of the Adviser, under a Transfer Agency Agreement for providing
personnel and facilities to perform transfer agency services for the Portfolio.
Such compensation amounted to $34,118 for the year ended June 30, 2000.
For the year ended June 30, 2000, the Fund's expenses were reduced by $645
under an expense offset arrangement with Alliance Fund Services, Inc.
8
<PAGE>
Alliance Municipal Trust - Connecticut Portfolio
===============================================================================
NOTE C: Distribution Assistance and Administrative Services Plan
Under this Plan, the Portfolio pays Alliance Fund Distributors, Inc., (the
"Distributor"), a wholly-owned subsidiary of the Adviser, a distribution fee at
the annual rate of .25% of the average daily value of the Portfolio's net
assets. The Plan provides that the Distributor will use such payments in their
entirety for distribution assistance and promotional activities. For the year
ended June 30, 2000, the distribution fee amounted to $413,778. In addition,
the Portfolio may reimburse certain broker-dealers for administrative costs
incurred in connection with providing shareholder services, and may reimburse
the Adviser for accounting and bookkeeping, and legal and compliance support.
For the year ended June 30, 2000, such payments by the Portfolio amounted to
$323,239, a substantial portion of which was paid to the Adviser and its
affiliates.
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NOTE D: Investment Transactions
At June 30, 2000, the cost of investments for federal income tax purposes was
the same as the cost for financial reporting purposes. At June 30, 2000, the
Portfolio had a capital loss carryforward of $18,875, of which, $16,849 expires
in 2002 and $2,026 expires in the year 2004. To the extent that any net capital
loss carryforward is used to offset future capital gains, it is probable that
these gains will not be distributed to shareholders.
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NOTE E: Transactions in Shares of Beneficial Interest
An unlimited number of shares ($.01 par value) are authorized. At June 30,
2000, capital paid-in aggregated $161,018,708. Transactions, all at $1.00 per
share, were as follows:
<TABLE>
<CAPTION>
Year Ended Year Ended
June 30, June 30,
2000 1999
------------- ------------
<S> <C> <C>
Shares sold .................................. 521,258,914 489,172,712
Shares issued on reinvestments of dividends... 4,357,503 3,397,313
Shares redeemed .............................. (508,017,857) (473,275,718)
------------- ------------
Net increase ................................. 17,598,560 19,294,307
============= ============
</TABLE>
9
<PAGE>
FINANCIAL HIGHLIGHTS Alliance Municipal Trust - Connecticut Portfolio
===============================================================================
Selected Data For A Share Of Beneficial Interest Outstanding Throughout Each
Period
<TABLE>
<CAPTION>
Year Ended June 30,
-------------------------------------------------------------
2000 1999 1998 1997 1996
------ -------- -------- -------- --------
<S> <C> <C> <C> <C> <C>
Net asset value, beginning of period .$ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
------ -------- -------- -------- --------
Income From Investment Operations
Net investment income (a) .......... .026 .022 .027 .027 .028
------ -------- -------- -------- --------
Less: Dividends
Dividends from net investment income .(.026) (.022) (.027) (.027) (.028)
------ -------- -------- -------- --------
Net asset value, end of period .......$ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
====== ======== ======== ======== ========
Total Return
Total investment return based on net
asset value (b) .....................2.66% 2.25% 2.75% 2.76% 2.88%
Ratios/Supplemental Data
Net assets, end of period
(000's omitted) $161,000 $143,401 $124,107 $102,612 $ 95,812
Ratios to average net assets of:
Expenses, net of waivers and
reimbursements ....................1.00% 1.00% .93% .80% .80%
Expenses, before waivers and
reimbursements ....................1.07% 1.07% 1.06% 1.10% 1.15%
Net investment income (a) .....2.63% 2.22% 2.69% 2.72% 2.84%
</TABLE>
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(a) Net of expenses reimbursed or waived by the Adviser.
(b) Total investment return is calculated assuming an initial investment made
at the net asset value at the beginning of the period, reinvestment of
all dividends and distributions at net asset value during the period, and
redemption on the last day of the period. Total investment return
calculated for a period of less than one year is not annualized.
10
<PAGE>
REPORT OF INDEPENDENT
ACCOUNTANTS Alliance Municipal Trust - Connecticut Portfolio
===============================================================================
To the Board of Trustees and Shareholders of
Alliance Municipal Trust - Connecticut Portfolio
In our opinion, the accompanying statement of net assets and the related
statements of operations and of changes in net assets and the financial
highlights present fairly, in all material respects, the financial position of
Alliance Municipal Trust - Connecticut Portfolio (the "Fund") at June 30, 2000,
and the results of its operations, the changes in its net assets and the
financial highlights for the year then ended, in conformity with accounting
principles generally accepted in the United States. These financial statements
and financial highlights (hereafter referred to as "financial statements") are
the responsibility of the Fund's management; our responsibility is to express
an opinion on these financial statements based on our audit. We conducted our
audit of these financial statements in accordance with auditing standards
generally accepted in the United States, which require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates
made by management, and evaluating the overall financial statement
presentation. We believe that our audit, which included confirmation of
securities at June 30, 2000, by correspondence with the custodian and brokers,
provides a reasonable basis for the opinion expressed above. The financial
statements for the year ended June 30, 1999, including the financial highlights
for each of the four years in the period then ended, were audited by other
independent accountants whose report dated July 23, 1999, expressed an
unqualified opinion on those financial statements.
PricewaterhouseCoopers LLP
New York, New York
July 28, 2000
11
<PAGE>
Alliance Muncipal Trust - Connecticut Portfolio
===============================================================================
Alliance Municipal Trust
1345 Avenue of the Americas
New York, NY 10105
Toll-free 1(800)221-5672
TRUSTEES
Dave H. Williams, Chairman
John D. Carifa
Sam Y. Cross (1)
Charles H.P. Duell (1)
William H. Foulk, Jr. (1)
David K. Storrs (1)
Shelby White (1)
OFFICERS
Dave H. Willliams, Chairman
Ronald M. Whitehill, President
Kathleen A. Corbet, Senior Vice President
Drew Biegel, Senior Vice President
John R. Bonczek, Senior Vice President
Doris T. Ciliberti, Senior Vice President
Robert I. Kurzweil, Senior Vice President
Wayne D. Lyski, Senior Vice President
Patricia Ittner, Senior Vice President
William E. Oliver, Senior Vice President
Raymond J. Papera, Senior Vice President
Frances M. Dunn, Vice President
William J. Fagan, Vice President
Linda D. Kelley, Vice President
Joseph R. LaSpina, Vice President
Eileen M. Murphy, Vice President
Maria C. Sazon, Vice President
Edmund P. Bergan, Jr., Secretary
Mark D. Gersten, Treasurer and
Chief Financial Officer
Vincent S. Noto, Controller
CUSTODIAN
State Street Bank and Trust Company
P.O. Box 1912
Boston, MA 02105
DISTRIBUTOR
Alliance Fund Distributors, Inc.
1345 Avenue of the Americas
New York, NY 10105
TRANSFER AGENT
Alliance Fund Services
P.O. Box 1520
Secaucus, NJ 07096-1520
Toll-Free 1-(800) 221-5672
INDEPENDENT ACCOUNTANTS
PricewaterhouseCoopers LLP
1177 Avenue of the Americas
New York, NY 10036
LEGAL COUNSEL
Seward & Kissel LLP
One Battery Park Plaza
New York, NY 10004
-------------------------------------------------------------------------------
(1) Members of the Audit Committee.
12
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Alliance Municipal Trust - Connecticut Portfolio ---------------
1345 Avenue of the Americas, New York, NY 10105 BULK RATE
Toll free 1 (800) 221-5672 U.S. POSTAGE
PAID
Yields. For current recorded yield information on Alliance New York, NY
Municipal Trust, call on a touch-tone telephone toll-free Permit No. 7131
(800) 251-0539 and press the following sequence of keys: ---------------
- - - - - - -
* * 1 2 2 8 #
- - - - - - -
For non-touch-tone telephones, call toll-free (800) 221-9513
------------------------------------------------------------
AllianceCapital [LOGO](R)
(R) These registered service marks used under license from the owner, Alliance
Capital Management L.P.
AMTCTAR600
