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File No. 33-12988
811-05088
Securities and Exchange Commission
Washington, D.C. 20549
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FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
Pre-Effective Amendment No.
Post-Effective Amendment No. 20
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
Amendment No. 22
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THE ALLIANCE PORTFOLIOS
(Exact Name of Registrant as Specified in Charter)
1345 Avenue of the Americas, New York, N.Y. 10105
(800) 221-5672
(Registrant's Telephone Number, including Area Code)
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EDMUND P. BERGAN, JR.
Alliance Capital Management L.P.
1345 Avenue of the Americas, New York, N.Y. 10105
(Name and address of Agent for Service)
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Calculation of Registration Fee:
Proposed Proposed
Title of Maximum Maximum
Securities Amount Offering Aggregate Amount of
Being Being Price Offering Registration
Registered Registered Per Unit * Price ** Fee
_____________ __________ __________ _________ ____________
Common Shares
$.00001 par
value for the
Conservative 383,681 $11.56 $4,435,352 $100
Investors
Portfolio
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* Estimated solely for the purpose of determining the
amount of the total registration fee based on the offering price
per share of the Conservative Investors Portfolio of the
Registrant's Common Shares on June 24, 1996.
** The calculation of the maximum aggregate offering price
is made pursuant to Rule 24e-2(a) under the Investment Company
Act of 1940 and is based on the following: the total amount of
securities redeemed or repurchased by Alliance Conservative
Investors Fund during the fiscal year ended April 30, 1996 was
$15,857,449 of which $11,712,102 were previously used for
reduction pursuant to Rule 24f-2 or Rule 24e-2(a) and $4,145,347
of which is being so used for such reduction in this Amendment.
It is proposed that this filing will become effective (check
appropriate box)
X immediately upon filing pursuant to paragraph (b)
on (date) pursuant to paragraph (b)
60 days after filing pursuant to paragraph (a)(i)
on (date) pursuant to paragraph (a)(i)
75 days after filing pursuant to paragraph (a)(2)
on (date) pursuant to paragraph (a)(2) of rule 485.
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SIGNATURES
Pursuant to the requirements of the Securities Act of
1933, as amended, and the Investment Company Act of 1940, as
amended, the Registrant certifies that it meets all of the
requirements for effectiveness of this Amendment to its
Registration Statement pursuant to Rule 485(b) under the
Securities Act of 1933 and has duly caused this Amendment to its
Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of New York
and State of New York, on the 28th day of June, 1996.
THE ALLIANCE PORTFOLIOS
by /s/ John D. Carifa
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John D. Carifa
Chairman and President
Pursuant to the requirements of the Securities Act of
1933, as amended, this Amendment to the Registration Statement
has been signed below by the following persons in the capacities
and on the dates indicated:
Signature Title Date
1) Principal
Executive Officer
/s/ John D. Carifa Chairman June 28, 1996
------------------- and President
John D. Carifa
2) Principal Financial
and Accounting Officer
/s/ Mark D. Gersten Treasurer June 28, 1996
-------------------- and Chief
Mark D. Gersten Financial Officer
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All of the Trustees
Alberta B. Arthurs
Ruth Block
John D. Carifa
Richard W. Couper
Brenton W. Harries
Donald J. Robinson
by /s/ Edmund P. Bergen, Jr. June 28, 1996
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(Attorney-in-fact)
Edmund P. Bergen, Jr.
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00250184.AI7
