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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 Missouri
Investors
Prospective Missouri investors should consider the fact
that the Fund's portfolio turnover rate could, under some
conditions, be 150%. A 150% turnover rate in the opinion of the
Office of the Secretary of the State of Missouri is greater than
most other investment companies, including those which emphasize
capital appreciation as a basic policy. A high portfolio
turnover rate increases transactions costs and incidence of
short-term capital gain taxable as ordinary income. The Fund
does not believe that a 150% turnover rate is high or that it is
higher than most other investment companies.
(R): This is a registered mark used under license from the
owner, Alliance Capital Management L.P.
00250203.AI7
