<PAGE>
This is filed pursuant to Rule 497(c).
File Nos. 33-45328 and 811-06554.
00250117.AI5
<PAGE>
(LOGO)(R) ALLIANCE NORTH AMERICAN GOVERNMENT INCOME TRUST
_________________________________________________________________
November 1, 1995
Supplement to Prospectus dated November 1, 1995 for Arizona
Investors
Prospective Arizona investors should note that investments by
the Fund in securities denominated in currencies other than the
U.S. Dollar and securities issued by foreign governments involve
certain special considerations and risks which are described, in
particular, on page 33 of the Prospectus.
(R) This is a registered mark used under license from the owner,
Alliance Capital Management L.P.
00250117.AI5
<PAGE>
This is filed pursuant to Rule 497(c).
File Nos. 33-45328 and 811-06554.
00250117.AI5
<PAGE>
(LOGO)(R) ALLIANCE NORTH AMERICAN GOVERNMENT INCOME TRUST
_________________________________________________________________
November 1, 1995
Supplement to Prospectus dated November 1, 1995 for Missouri
Investors
Prospective Missouri investors should consider the fact that
the Fund intends to borrow for leveraging purposes. Borrowing by
the Fund increases the costs of operations 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 is a registered mark used under license from the owner,
Alliance Capital Management L.P.
00250117.AI5
<PAGE>
This is filed pursuant to Rule 497(c).
File Nos. 33-45328 and 811-06554.
00250117.AI5
<PAGE>
(LOGO)(R) ALLIANCE NORTH AMERICAN GOVERNMENT INCOME TRUST
_________________________________________________________________
November 1, 1995
Supplement to Prospectus dated November 1, 1995 for Massachusetts
Investors
Prospective Massachusetts investors should note that the Fund
may borrow monies representing approximately one-third of its
total assets, less liabilities, for leverage purposes, i.e., for
the purpose of purchasing additional portfolio investments.
Leveraging, which is usually considered to be a speculative
investment technique, has advantages and disadvantages, both of
which should be carefully evaluated by the investor.
In this regard, the Fund's Adviser anticipates that the
Fund's use of leverage will provide the Fund's shareholders with
a potentially higher yield than if the Fund had not used
leverage. Investors should note, however, the special risks
associated with the use of borrowed funds to purchase investment
securities, which could increase the volatility of the net asset
value of the Fund's shares. Leveraging is discussed in more
detail on page 34 of the Prospectus.
(R) This is a registered mark used under license from the owner,
Alliance Capital Management L.P.
00250117.AI5
<PAGE>
This is filed pursuant to Rule 497(c).
File Nos. 33-45328 and 811-06554.
00250117.AI5
<PAGE>
(LOGO)(R) ALLIANCE NORTH AMERICAN GOVERNMENT INCOME TRUST
_________________________________________________________________
November 1, 1995
Supplement to Prospectus dated November 1, 1995 for Texas
Investors
Prospective Texas investors should note that the Fund may
borrow monies representing approximately one-third of its total
assets, less liabilities, for leverage purposes, i.e., for the
purpose of purchasing additional portfolio investments.
Leveraging, which is usually considered to be a speculative
investment technique, has advantages and disadvantages, both of
which should be carefully evaluated by the investor.
In this regard, while the Fund's Adviser anticipates that the
Fund's use of leverage will provide the Fund's shareholders with
a potentially higher yield than if the Fund had not used
leverage, the Fund's use of leverage could result in a lower rate
of return than if the Fund were not leveraged. Investors should
note the special risks associated with the use of borrowed funds
to purchase investment securities, which could increase the
volatility of the net asset value of the Fund's shares.
Leveraging is discussed in more detail on page 34 of the
Prospectus.
(R) This is a registered mark used under license from the owner,
Alliance Capital Management L.P.
00250117.AI5
