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SIGNATURE CATHERINE M. VACCA
TITLE DEPUTY MANAGER
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FORM OF N-SAR
ALLIANCE ALL-ASIA INVESTMENT FUND, INC.
October 31, 1998
RESOLVED, that the Directors hereby approve an
amendment to the non-fundamental investment
policies of the Fund to permit the Fund to invest
more than 50% of its assets in Japanese equity
securities and the appropriate officers of the
Fund be, and they hereby are, authorized and
instructed to take any and all such actions as
they may deem necessary or advisable in connection
with the implementation of the foregoing.
