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SIGNATURE JOE REZABEK
TITLE ASST VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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</TABLE>
Report of Independent Auditors
To the Shareholders and Board of Directors of
Alliance Quasar Fund, Inc.
In planning and performing our audit of the financial statements of Alliance
Quasar Fund, Inc. for the year ended September 30, 1999, we considered its
internal control, including control activities for safeguarding securities, in
order to determine our auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the requirements of
Form N-SAR, not to provide assurance on the internal control.
The management of Alliance Quasar Fund, Inc. is responsible for establishing
and maintaining internal control. In fulfilling this responsibility, estimates
and judgments by management are required to assess the expected benefits and
related costs of controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial statements for
external purposes that are fairly presented in conformity with generally
accepted accounting principles. Those controls include the safeguarding of
assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, error or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation
may deteriorate.
Our consideration of internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or
more of the internal control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control and its operation, including controls for
safeguarding securities, that we consider to be material weaknesses as defined
above at September 30, 1999.
This report is intended solely for the information and use of the Board of
Directors and management of Alliance Quasar Fund, Inc. and the Securities and
Exchange Commission and is not intended to be and should not be used by anyone
other than these specified parties.
ERNST & YOUNG LLP
November 2, 1999
[DESCRIPTION]Report of 10f-3 Transactions
Securities Purchased in Underwritings Involving
Transactions with Donaldson, Lufkin, & Jenrette Securities Corporation
Subject to Rule 10f-3 Under the Investment Company Act of 1940
Alliance Quasar Fund
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD APRIL 1, 1999 THROUGH MAY 31, 1999
<CAPTION>
Total % of
Shares Shares Offering Shares
Date Shares % of FundPrice perPurchased bOffered PurchasedPurchased Held
Security* PurchasedPurchasedAssets Share Fund Group (000) By Group(From 05/31/99
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Beyond.Com 04/08/99 180,200 0.00% $35.00 198,200 4,000 4.96% CS First Boston 0
I Turf 04/09/99 8,300 0.00% $22.00 37,300 4,200 0.89% BT Alex Brown 0
Worldgate Communications, 04/15/99 15,400 0.00% $21.00 62,000 5,000 1.24% Gerard Klauer Mattis 0
Proxicom 04/20/99 12,400 0.00% $13.00 52,400 4,500 1.16% BT Alex Brown 0
Launch Media 04/23/99 6,800 0.00% $22.00 29,000 3,400 0.85% Lewco Secs Agent 0
Republic Services, Inc. 04/27/99 938,100 0.00% $16.88 6,499,200 100,000 6.50% Merrill Lynch 0
Applied Theory Corporation04/29/99 9,600 0.00% $16.00 41,800 4,500 0.93% Bear Stearns 0
Flycast Communications Cor05/04/99 6,900 0.00% $25.00 29,100 3,000 0.97% BT Alex Brown 0
CAIS Internet, Inc. 05/20/99 10,700 0.00% $19.00 45,900 6,000 0.77% Bear Stearns 0
Juno Online Services 05/25/99 8,100 0.00% $13.00 33,200 6,500 0.51% Salomon Smith Barney 0
Starmedia Network, Inc. 05/25/99 20,500 0.00% $15.00 81,400 7,000 1.16% Goldman Sachs 0
RCN Corp. 05/26/99 188,300 0.00% $39.00 706,700 8,000 8.83% Salomon Smith Barney 205,500
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD JUNE 1, 1999 THROUGH AUGUST 31, 1999
<CAPTION>
Total % of
Shares Shares Offering Shares
Date Shares % of FundPrice perPurchased bOffered PurchasedPurchased Held
Security* PurchasedPurchasedAssets Share Fund Group (000) By Group(From 08/31/99
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Citadel Communications Cor06/21/99 315,700 0.00% $29.25 347,600 10,000 3.48% CS First Boston 0
E-Loan, Inc. 06/28/99 5,100 0.00% $14.00 22,700 3,500 0.65% Goldman Sachs 0
Globespan, Inc. 06/23/99 11,400 0.00% $15.00 47,400 3,250 1.46% BancBoston Robertson 0
Internet.com 06/25/99 18,100 0.00% $14.00 81,800 3,400 2.41% Piper Jaffray 0
Persistence Software, Inc.06/25/99 5,600 0.00% $11.00 25,100 3,000 0.84% BancBoston Robertson 0
Network Plus Corp. 06/29/99 63,700 0.00% $16.00 283,200 8,000 3.54% Goldman Sachs 0
Commerce One, Inc. 07/01/99 13,000 0.00% $21.00 59,000 3,300 1.79% CS First Boston 0
Salem Communications Corp.07/01/99 104,800 0.00% $22.50 133,700 8,400 1.59% DB Clearing Services 0
Yankee Candle, Inc. 07/01/99 265,000 0.00% $18.00 292,300 12,500 2.34% Morgan Stanley 0
Triquint Semiconductor, In07/13/99 139,400 0.00% $43.63 155,900 3,865 4.03% SG Cowen Securities 194,600
National Information 07/15/99 46,600 0.00% $12.00 211,500 13,000 1.63% Lewco Secs Agent 0
Ravisent Technologies 07/15/99 160,200 0.00% $12.00 176,700 5,000 3.53% Bear Stearns 0
Engage Technologies, Inc. 07/19/99 13,300 0.00% $15.00 63,000 6,000 1.05% Goldman Sachs 0
Insweb Corp. 07/23/99 15,700 0.00% $17.00 72,800 5,000 1.46% Goldman Sachs 0
Focal Communications Corp.07/27/99 52,500 0.00% $13.00 235,600 9,950 2.37% Salomon Smith Barney 0
Liberate Technologies 07/27/99 15,900 0.00% $16.00 70,700 6,250 1.13% CS First Boston 0
Digex, Inc. 07/29/99 29,400 0.00% $17.00 135,600 10,000 1.36% Bear Stearns 299,500
Net2Phone, Inc. 07/29/99 9,000 0.00% $15.00 41,900 5,400 0.78% Lewco Secs Agent 0
1-800 Flowers.com 08/02/99 7,300 0.00% $21.00 33,700 6,000 0.56% Goldman Sachs 0
The Acrerley Group, Inc. 08/02/99 539,600 0.00% $15.25 595,600 4,200 14.18% Salomon Smith Barney 0
Homestore.com 08/04/99 35,900 0.00% $20.00 157,400 7,000 2.25% Morgan Stanley 0
Agile Software Corp. 08/19/99 2,700 0.00% $21.00 13,000 3,000 0.43% Morgan Stanley 0
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD SEPTEMBER 1, 1999 THROUGH SEPTEMBER 30, 1999
<CAPTION>
Total % of
Shares Shares Offering Shares
Date Shares % of FundPrice perPurchased bOffered PurchasedPurchased Held
Security* PurchasedPurchasedAssets Share Fund Group (000) By Group(From 09/30/99
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SDL, Inc. 09/21/99 13,400 0.00% $82.00 14,800 2,950 0.50% CIBC World Markets 102,200
Trintech Group PLC 09/23/99 9,200 0.00% $11.55 47,300 5,800 0.82% DB Clearing Services 0
Foundry Networks 09/28/99 14,900 0.00% $25.00 83,500 5,000 1.67% DB Clearing Services 0
Telemate.Net Software, Inc09/29/99 4,600 0.00% $14.00 23,700 3,500 0.68% Soundview Technology 0
Intermap Network Services 09/29/99 20,100 0.00% $20.00 112,200 8,700 1.29% Morgan Stanley 0
DII Group, Inc. 09/29/99 140,900 0.00% $33.00 669,800 6,000 11.16% Salomon Smith Barney 140,900
Acme Communications 09/30/99 44,600 0.00% $23.00 60,300 5,000 1.21% DB Clearing Services 0
</TABLE>
* Unless otherwise indicated, the securities were part of an issue registered
under the Securities Act of 1933 and offered to the public.
**Indicates the puchase of an Eligible Rule 144A Security.
1) Purchases by all Alliance Funds, including the Fund, may not exceed: (a) if
purchased in an offering other than an Eligible Rule 144A Offering, 25% of the
principal amount of the offering of such class; or (b) if purchased in an
Eligible Rule 144A Offering, 25% of the total of (i) the principal amount
of the offering of such class sold by underwriters or members of the
selling syndicate to qualified institutional buyers, plus (ii) the principal
amount of the offering of such class in any concurrent public offering.
