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This is filed pursuant to Rule 497(c).
File Nos. 33-84270 and 811-08776.
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LOGO
ALLIANCE ALL-ASIA INVESTMENT FUND, INC.
________________________________________________________________
February 1, 1996
Supplement to Prospectus dated February 1, 1996 for Maryland
Investors
There are no percentage investment limitations on the
Fund's ability to engage in the investment practices identified
in clauses (i) through (xvi) in the carryover paragraph on page
23 of the Prospectus, except to the extent any such limitations
are set forth in that paragraph or under "Description of the
Fund--Additional Investment Practices." These investment
practices, most of which are derivatives or involve the use of
derivatives, are more fully described under "Description of the
Fund--Additional Investment Practices."
(R): This registered service mark used under license from the
owner, Alliance Capital Management L.P.
00250203.AI8
