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This is filed pursuant to Rule 497(c).
File Nos. 2-29901 and 811-01716.
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ALLIANCE [Logo] ALLIANCE MUTUAL FUNDS
Supplement to Statements of October 20, 1995
Additional Information
SALES AT NET ASSET VALUE. The categories of
investors who may purchase Class A shares of the Alliance
Mutual Funds at net asset value (i.e., without any initial
sales charge) and without any contingent deferred sales
charge ("CDSC") have been expanded to include
employer-sponsored qualified pension or profit-sharing plans
(including Section 401(k) plans), custodial accounts
maintained pursuant to Section 403(b)(7) retirement plans
and individual retirement accounts (including IRAs to which
simplified employee pension (SEP) contributions are made),
if such plans or accounts are established or administered
under programs sponsored by administrators or other persons
that have been approved by the Funds' principal underwriter.
CLASS B CDSC WAIVER FOR SYSTEMATIC WITHDRAWAL PLAN
PAYMENTS. Holders of Class B shares of the Alliance Mutual
Funds may now elect to receive payments from their accounts
as frequently as monthly free of any CDSC. Under this
systematic withdrawal plan privilege, up to 1% monthly, 2%
bi-monthly or 3% quarterly of the value at the time of
redemption of the Class B shares in a shareholder's account
may be redeemed free of any CDSC. Class B shares not
subject to a CDSC (such as shares acquired with reinvested
dividends or distributions) will be redeemed first and will
count toward these limitations. Remaining shares held the
longest will be redeemed next. Redemptions of Class B
shares in excess of the foregoing limitations will be
subject to any otherwise applicable CDSC. In order to
establish a systematic withdrawal plan, investors must elect
to have their dividends and distributions automatically
reinvested and must own Class B shares having a net asset
value at the time of establishment of at least $4,000 for
quarterly or less frequent payments, $5,000 for bi-monthly
payments and $10,000 for monthly payments.
This CDSC waiver applies only with respect to
Class B shares acquired after July 1, 1995 and are subject
to the terms and conditions of the systematic withdrawal
plans disclosed in the Funds' Statements of Additional
Information. The systematic withdrawal plan privilege and
CDSC waiver may be revised or terminated at any time.
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(R)/SM These are registered marks used under licenses
from the owner, Alliance Capital Management L.P.
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