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This is filed pursuant to Rule 497(c).
File Nos. 33-42034 and 811-06372.
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(LOGO)(R) ALLIANCE INCOME BUILDER FUND
_________________________________________________________________
November 1, 1995
Supplement to Prospectus dated November 1, 1995 for Missouri
Investors
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 is a registered mark used under license from the owner,
Alliance Capital Management L.P.
00250107.AJ4
