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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 6, 1997
ALLIANCE CAPITAL MANAGEMENT L.P.
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(Exact name of registrant as specified in its charter)
Delaware 1-9818 13-3434400
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification
Number)
1345 Avenue of the Americas, New York, New York 10105
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(Address of principal executive offices) (Zip Code)
212-969-1000
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(Registrant's telephone number including area code)
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Item 1. CHANGES IN CONTROL OF REGISTRANT
Not applicable.
Item 2. ACQUISITION OR DISPOSITION OF ASSETS
Not applicable.
Item 3. BANKRUPTCY OR RECEIVERSHIP
Not applicable.
Item 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
Not applicable.
Item 5. OTHER EVENTS
On August 6, 1997 Alliance Capital Management L.P. issued a press
release announcing that it intends to remain a publicly traded limited
partnership in light of the Taxpayer Relief Act of 1997, a copy of
which is attached as an Exhibit to the Report.
Item 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS
Not applicable.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of Businesses Acquired
None.
(b) Pro Forma Financial Information
None.
(c) Exhibits
Press Release dated August 6, 1997.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed
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on its behalf by the undersigned thereunto duly authorized.
ALLIANCE CAPITAL MANAGEMENT L.P.
Dated: August 6, 1997 By: Alliance Capital Management Corporation,
General Partner
By:
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Robert H. Joseph, Jr.
Senior Vice President and
Chief Financial Officer
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FOR IMMEDIATE RELEASE
CONTACT: MEDIA: DUFF FERGUSON
(212) 969-1056
INVESTORS: ANNE DRENNAN
(212) 969-6443
ALLIANCE CAPITAL MANAGEMENT L.P.
TO REMAIN PUBLICLY TRADED LIMITED PARTNERSHIP
IN LIGHT OF THE TAXPAYER RELIEF ACT OF 1997
NEW YORK, NY, AUGUST 6, 1997 -- Dave H. Williams, Chairman and Chief
Executive Officer of Alliance Capital Management L.P. (NYSE: "AC"),
noted that The Taxpayer Relief Act of 1997, signed into law August 5,
1997, includes the option for certain publicly traded partnerships to
maintain partnership tax status, and pay an additional tax of 3.5% on
partnership gross income. Alliance intends to utilize this option,
and remain a publicly traded limited partnership; therefore, the firm
will not implement the change to a public corporate ownership
structure as announced on June 24.
"We are pleased that the new tax law allows certain publicly
traded partnerships to continue operating in their current form,"
remarked Mr. Williams. "We will avoid the cost of completing the
conversion to a new type of publicly traded organization and our
public Unitholders will not suffer the major reduction in cash flow
distributions which would have resulted had the Partnership been
taxed as a corporation. We are relieved that this uncertainty is
removed."
Alliance Capital is a large global investment adviser, with over
$200 billion in client assets under management. The firm manages
retirement assets for many of the largest public and private employee
benefit plans including 29 of the nation's Fortune 100 companies,
public employee retirement funds in 33 states, as well as managing
assets for foundations, endowments, banks and insurance companies.
Alliance Capital is also one of America's largest mutual fund
sponsors, with nearly three million shareholder accounts investing
through the firm's diverse family of fund portfolios. As of June 30,
1997, the Partnership's general partner, a wholly-owned subsidiary of
The Equitable Companies Incorporated ("EQ"), owned a 1% general
partnership interest in Alliance and approximately 57% of the
Partnership's outstanding Units are beneficially owned by EQ.
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