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(LOGO) ALLIANCE MULTI-MARKET
STRATEGY TRUST
_________________________________________________________________
March 1, 1996
Supplement to Prospectus dated March 1, 1996 for Missouri
Investors
Investors should consider the fact that the Fund intends to
borrow for leveraging purposes. Borrowing by the Fund increases
the costs of operation and may increase the amount of loss in the
event the value of the Fund's securities decline. See page 34 of
the Prospectus.
The Fund may also engage in active short-term trading to
benefit from yield disparities among different issues of
securities, to seek short-term profits during periods of
fluctuating interest rates, or for other reasons. Short-term
trading activity increases the Fund's transaction costs, rate of
turnover and the incidence of short-term capital gain taxable as
ordinary income.
(R): This registered mark used under license from the owner,
Alliance Capital Management L.P.
00250182.AN7
