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SIGNATURE CATHY WHITE
TITLE VICE PRESIDENT
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<SHARES-COMMON-PRIOR> 551,099
<ACCUMULATED-NII-CURRENT> 573,357
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 11,137,127
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 12,902,665
<NET-ASSETS> 112,832,202
<DIVIDEND-INCOME> 414,707
<INTEREST-INCOME> 1,164,221
<OTHER-INCOME> 0
<EXPENSES-NET> (1,150,943)
<NET-INVESTMENT-INCOME> 427,985
<REALIZED-GAINS-CURRENT> 6,209,097
<APPREC-INCREASE-CURRENT> (6,456,564)
<NET-CHANGE-FROM-OPS> 180,518
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 95,818
<NUMBER-OF-SHARES-REDEEMED> (99,975)
<SHARES-REINVESTED> 22
<NET-CHANGE-IN-ASSETS> (1,343,586)
<ACCUMULATED-NII-PRIOR> 145,372
<ACCUMULATED-GAINS-PRIOR> 4,928,030
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 424,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,159,000
<AVERAGE-NET-ASSETS> 8,333,028
<PER-SHARE-NAV-BEGIN> 15.13
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> (0.02)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.15
<EXPENSE-RATIO> 2.27
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000812015
<NAME> THE ALLIANCE PORTFOLIOS
<SERIES>
<NUMBER> 051
<NAME> CONSERVATIVE INVESTORS FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAY-01-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 43,605,855
<INVESTMENTS-AT-VALUE> 46,726,887
<RECEIVABLES> 936,386
<ASSETS-OTHER> 38,447
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 47,701,720
<PAYABLE-FOR-SECURITIES> 1,313,180
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 297,775
<TOTAL-LIABILITIES> 1,610,955
<SENIOR-EQUITY> 37
<PAID-IN-CAPITAL-COMMON> 40,028,946
<SHARES-COMMON-STOCK> 1,132,521
<SHARES-COMMON-PRIOR> 978,982
<ACCUMULATED-NII-CURRENT> 378,109
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,565,185
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,118,488
<NET-ASSETS> 46,090,765
<DIVIDEND-INCOME> 74,994
<INTEREST-INCOME> 994,048
<OTHER-INCOME> 0
<EXPENSES-NET> (428,840)
<NET-INVESTMENT-INCOME> 640,202
<REALIZED-GAINS-CURRENT> 1,545,891
<APPREC-INCREASE-CURRENT> (1,090,372)
<NET-CHANGE-FROM-OPS> 1,095,721
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (149,638)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 300,200
<NUMBER-OF-SHARES-REDEEMED> (158,906)
<SHARES-REINVESTED> 12,245
<NET-CHANGE-IN-ASSETS> 1,782,762
<ACCUMULATED-NII-PRIOR> 152,080
<ACCUMULATED-GAINS-PRIOR> 1,019,294
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 169,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 537,000
<AVERAGE-NET-ASSETS> 12,749,766
<PER-SHARE-NAV-BEGIN> 11.97
<PER-SHARE-NII> 0.20
<PER-SHARE-GAIN-APPREC> 0.12
<PER-SHARE-DIVIDEND> (0.14)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.15
<EXPENSE-RATIO> 1.41
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000812015
<NAME> THE ALLIANCE PORTFOLIOS
<SERIES>
<NUMBER> 052
<NAME> CONSERVATIVE INVESTORS FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAY-01-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 43,605,855
<INVESTMENTS-AT-VALUE> 46,726,887
<RECEIVABLES> 936,386
<ASSETS-OTHER> 38,447
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 47,701,720
<PAYABLE-FOR-SECURITIES> 1,313,180
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 297,775
<TOTAL-LIABILITIES> 1,610,955
<SENIOR-EQUITY> 37
<PAID-IN-CAPITAL-COMMON> 40,028,946
<SHARES-COMMON-STOCK> 2,220,438
<SHARES-COMMON-PRIOR> 2,332,248
<ACCUMULATED-NII-CURRENT> 378,109
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,565,185
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,118,488
<NET-ASSETS> 46,090,765
<DIVIDEND-INCOME> 74,994
<INTEREST-INCOME> 994,048
<OTHER-INCOME> 0
<EXPENSES-NET> (428,840)
<NET-INVESTMENT-INCOME> 640,202
<REALIZED-GAINS-CURRENT> 1,545,891
<APPREC-INCREASE-CURRENT> (1,090,372)
<NET-CHANGE-FROM-OPS> 1,095,721
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (228,161)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 336,981
<NUMBER-OF-SHARES-REDEEMED> (466,097)
<SHARES-REINVESTED> 17,306
<NET-CHANGE-IN-ASSETS> 1,782,762
<ACCUMULATED-NII-PRIOR> 152,080
<ACCUMULATED-GAINS-PRIOR> 1,019,294
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 169,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 537,000
<AVERAGE-NET-ASSETS> 27,427,541
<PER-SHARE-NAV-BEGIN> 12.19
<PER-SHARE-NII> 0.19
<PER-SHARE-GAIN-APPREC> 0.09
<PER-SHARE-DIVIDEND> (0.10)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.37
<EXPENSE-RATIO> 2.11
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000812015
<NAME> THE ALLIANCE PORTFOLIOS
<SERIES>
<NUMBER> 053
<NAME> CONSERVATIVE INVESTORS FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAY-01-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 43,605,855
<INVESTMENTS-AT-VALUE> 46,726,887
<RECEIVABLES> 936,386
<ASSETS-OTHER> 38,447
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 47,701,720
<PAYABLE-FOR-SECURITIES> 1,313,180
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 297,775
<TOTAL-LIABILITIES> 1,610,955
<SENIOR-EQUITY> 37
<PAID-IN-CAPITAL-COMMON> 40,028,946
<SHARES-COMMON-STOCK> 392,054
<SHARES-COMMON-PRIOR> 341,378
<ACCUMULATED-NII-CURRENT> 378,109
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,565,185
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,118,488
<NET-ASSETS> 46,090,765
<DIVIDEND-INCOME> 74,994
<INTEREST-INCOME> 994,048
<OTHER-INCOME> 0
<EXPENSES-NET> (428,840)
<NET-INVESTMENT-INCOME> 640,202
<REALIZED-GAINS-CURRENT> 1,545,891
<APPREC-INCREASE-CURRENT> (1,090,372)
<NET-CHANGE-FROM-OPS> 1,095,721
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (36,374)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 101,723
<NUMBER-OF-SHARES-REDEEMED> (53,924)
<SHARES-REINVESTED> 2,877
<NET-CHANGE-IN-ASSETS> 1,782,762
<ACCUMULATED-NII-PRIOR> 152,080
<ACCUMULATED-GAINS-PRIOR> 1,019,294
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 169,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 537,000
<AVERAGE-NET-ASSETS> 4,393,516
<PER-SHARE-NAV-BEGIN> 12.19
<PER-SHARE-NII> 0.19
<PER-SHARE-GAIN-APPREC> 0.10
<PER-SHARE-DIVIDEND> (0.10)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.38
<EXPENSE-RATIO> 2.11
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
THE ALLIANCE PORTFOLIOS Exhibit 77C
811-5088
A Special Meeting of Shareholders of The Alliance Portfolios, Inc. was
held on July 6, 1998. A description of each proposal and number of
shares voted by all portfolios, including Alliance Conservative
Investors Fund and Alliance Growth Investors Fund, at the meeting are as
follows:
1. To Elect Directors: Shares Voted For Withheld Authority
Class Three Directors
(term expires 2000)
John D. Carifa 88,209,875 1,097,787
Ruth Block 88,157,156 1,150,506
Richard W. Couper 88,116,482 1,191,180
William H. Foulk, Jr. 88,199,965 1,107,697
Brenton W. Harries 88,159,545 1,148,116
Donald J. Robinson 88,164,577 1,143,085
2. To ratify the selection Shares Shares Voted Shares
of PricewaterhouseCoopers Voted For Against Abstained
LLP as the Funds'
Independent auditors for
the Funds' fiscal year
ending April 30, 1998. 87,739,869 344,023 1,223,766
