ALLIANCE MONEY MARKET FUND
- -GENERAL MUNICIPAL PORTFOLIO
- -PRIME PORTFOLIO
- -GOVERNMENT PORTFOLIO
ANNUAL REPORT
NOVEMBER 30, 1999
LETTER TO SHAREHOLDERS ALLIANCE MONEY MARKET FUND
_______________________________________________________________________________
January 28, 2000
Dear Shareholder:
We are pleased to provide you with the annual report for the Alliance Money
Market Fund for the period ended November 30, 1999. The investment objectives
of each Portfolio of the Fund are-in the following order of priority-safety of
principal, excellent liquidity, and, to the extent consistent with the first
two objectives, maximum current income (exempt from income taxes to the extent
described below in the case of the General Municipal Portfolio).
We appreciate your continued interest and investment in the Alliance Money
Market Fund, and look forward to reporting to you again in the future.
Sincerely,
Ronald Whitehill
President
1
STATEMENT OF NET ASSETS
NOVEMBER 30, 1999 ALLIANCE MONEY MARKET FUND - GENERAL MUNICIPAL PORTFOLIO
_______________________________________________________________________________
PRINCIPAL
AMOUNT
(000) SECURITY(A) YIELD VALUE
- -------------------------------------------------------------------------------
MUNICIPAL BONDS-98.5%
ALABAMA-3.3%
MONTGOMERY IDR
(Norment Industries)
Series 99 AMT VRDN
$ 2,100 8/01/14 (b) 4.10% $ 2,100,000
ALASKA-3.9%
ALASKA IDA
(Fairbanks Gold Mining, Inc.)
Series 97 AMT VRDN
2,500 5/01/09 (b) 3.95 2,500,000
ARIZONA-5.2%
PHOENIX CIVIC IMPROVEMENT AUTHORITY
(Airport Improvements)
Series 95 AMT VRDN
1,000 6/01/20 (b) 3.90 1,000,000
PHOENIX IDA
(V.A.W. of America, Inc.)
Series 97 AMT VRDN
1,000 2/01/12 (b) 4.05 1,000,000
PHOENIX IDA MFHR
(Ventana Palms Apartments)
Series 94 AMT VRDN
310 2/01/24 (b) 4.00 310,000
TUCSON AIRPORT AUTHORITY
(Learjet, Inc.)
Series 98A AMT VRDN
1,000 10/01/28 (b) 4.05 1,000,000
--------------
3,310,000
DELAWARE-0.8%
DELAWARE EDA
(Delaware Clean Power)
Series 97A AMT VRDN
500 8/01/29 (b) 4.00 500,000
DISTRICT OF
COLUMBIA-1.6%
DISTRICT OF COLUMBIA
HFA SFMR
(Mortgage Revenue, GNMA)
Series 99B AMT
1,000 6/15/00 3.30 1,000,000
FLORIDA-2.9%
HILLSBOROUGH COUNTY PCR
(Tampa Electric Company)
Series 93 AMT VRDN
800 11/01/20 (b) 3.90 800,000
ST. LUCIE COUNTY PCR SWDR
(Florida Power and Light Company)
Series 93 AMT VRDN
1,050 1/01/27(b) 3.80 1,050,000
--------------
1,850,000
GEORGIA-6.9%
RICHMOND COUNTY
DEVELOPMENT AUTHORITY SWDR
(Evergreen Nylon Recycling, Inc.)
Series 98 AMT VRDN
2,400 7/01/32 (b) 3.90 2,400,000
SUMMERSVILLE IDA
(Image Industries, Inc.)
Series 97 AMT VRDN
2,000 9/01/17 (b) 3.95 2,000,000
--------------
4,400,000
ILLINOIS-4.5%
EAST MOLINE IDR
(Elliott Aviation)
Series 99 AMT VRDN
1,200 12/01/19 (b) 4.10 1,200,000
ILLINOIS HDA SFMR
(Homeowner Mortgage Revenue)
Series 99A-2 AMT PPB
920 8/01/28 (b) 3.90 920,000
ILLINOIS MFHR
(Butterfield Creek Association)
Series 99 AMT VRDN
750 4/01/39 (b) 4.05 750,000
--------------
2,870,000
INDIANA-4.6%
AUBURN EDA
(R.J. Tower Corp.)
Series 88 AMT VRDN
380 9/01/00 (b) 4.05 380,000
2
ALLIANCE MONEY MARKET FUND - GENERAL MUNICIPAL PORTFOLIO
_______________________________________________________________________________
PRINCIPAL
AMOUNT
(000) SECURITY(A) YIELD VALUE
- -------------------------------------------------------------------------------
GIBSON COUNTY IDR PCR
(Toyota Motor Manufacturing)
Series 98 AMT VRDN
$ 1,500 1/01/28 (b) 3.90% $ 1,500,000
INDIANA HEALTH FACILITY
(Ascension Health)
Series 99B VRDN
1,000 11/15/39 (b) 3.80 1,000,000
--------------
2,880,000
KANSAS-5.0%
COLWICH IDR
(Epco Corbondioxide Products)
Series 99 AMT VRDN
1,985 8/01/14 (b) 4.10 1,985,000
SPRING HILL IDR
(Abrasive Engineering
and Manufacturing Project)
Series 96 AMT VRDN
1,200 9/01/16 (b) 4.09 1,200,000
--------------
3,185,000
KENTUCKY-4.9%
HOPKINSVILLE CITY IDR
(American Precision Machinery)
Series 90 AMT VRDN
600 5/01/00 (b) 5.10 600,000
LOUISVILLE & JEFFERSON COUNTY
(Regional Airport Authority)
Series 97A-1 AMT VRDN
1,000 6/30/02 (b) 4.05 1,000,000
WARSAW IDR
(SDI Operation Partner)
Series 88 AMT VRDN
1,490 8/01/09 (b) 4.00 1,490,000
--------------
3,090,000
LOUISIANA-2.6%
JEFFERSON PARISH SFMR
Series 99B-2 AMT
955 6/30/00 3.65 955,000
LOUSIANA PUBLIC
FACILITIES AUTHORITY
(Hospital Equipment
Finance Program)
Series 85A AMT VRDN
700 12/01/10 (b) 3.90 700,000
--------------
1,655,000
MAINE-1.5%
MAINE FINANCE AUTHORITY
ECONOMIC DEVELOPMENT REVENUE
Series 88A-D AMT VRDN
90 12/01/03 (b) 4.15 90,000
Series 89L AMT VRDN
135 6/01/05 (b) 4.15 135,000
(Barber Foods, Inc.)
Series 90B AMT VRDN
65 12/01/06 (b) 4.15 65,000
(Cornwall, McCann, Thurston)
Series 88D-F AMT VRDN
675 6/01/04 (b) 4.15 675,000
--------------
965,000
MARYLAND-1.5%
MARYLAND STATE CDA
(Housing and Community Development)
Series 99G AMT
1,000 8/30/00 3.65 1,000,000
MISSISSIPPI-1.2%
MISSISSIPPI HOME CORP. MFHR
(Summer Park Apartments)
Series 99D-2 AMT VRDN
750 10/01/29 (b) 4.15 750,000
MISSOURI-0.8%
ST. LOUIS IDA
(Hammert's Iron Works, Inc.)
Series 99 AMT VRDN
500 6/01/09 (b) 4.00 500,000
MONTANA-1.6%
MONTANA STATE BOARD
OF INVESTMENTS PCR
(Colstrip Project)
Series 89A AMT PPB
1,000 12/30/15 (b) 3.25 1,000,000
3
STATEMENT OF NET ASSETS
(CONTINUED) ALLIANCE MONEY MARKET FUND - GENERAL MUNICIPAL PORTFOLIO
_______________________________________________________________________________
PRINCIPAL
AMOUNT
(000) SECURITY(A) YIELD VALUE
- -------------------------------------------------------------------------------
NEVADA-3.8%
CLARK COUNTY IDR
(Airport System, Sub-lien)
Series 99B-2 AMT PPB
$ 600 7/01/29 (b) 3.75% $ 600,000
CLARK COUNTY IDR
(School District Bond)
Series 99C FSA
1,830 6/15/00 3.60 1,838,583
--------------
2,438,583
NEW HAMPSHIRE-1.6%
NEW HAMPSHIRE IDA
(SCI Manufacturing, Inc.)
Series 89 AMT VRDN
1,000 6/01/14 (b) 4.30 1,000,000
NORTH CAROLINA-0.5%
JOHNSTON COUNTY IDA
(Mebane Packaging Corp.)
Series 92 AMT VRDN
300 6/01/03 (b) 4.00 300,000
NORTH DAKOTA-1.6%
NORTH DAKOTA HFA SFMR
(Mortgage Revenue)
Series 99E AMT
1,000 9/29/00 3.80 1,000,000
OHIO-1.6%
OHIO AIR QUALITY
DEVELOPMENT AUTHORITY PCR
(JMG Funding Partnership)
Series 94B AMT VRDN
1,000 4/01/28 (b) 3.90 1,000,000
OKLAHOMA-1.5%
BROKEN ARROW EDA
(Paragon Films, Inc.)
Series 89 AMT VRDN
970 8/01/04 (b) 4.22 970,000
OREGON-1.6%
OREGON EDA
(Kyotaru Oregon Project)
Series 89 AMT VRDN
1,000 12/01/99 (b) 4.22 1,000,000
RHODE ISLAND-1.7%
RHODE ISLAND STUDENT
LOAN REVENUE
Series 95-1 AMT VRDN
1,100 7/01/19 (b) 3.90 1,100,000
SOUTH CAROLINA-3.3%
BERKELEY COUNTY IDR
(Nucor Corp.)
Series 97 AMT VRDN
2,100 4/01/30 (b) 3.95 2,100,000
TENNESSEE-9.0%
EDUCATIONAL FUNDING
OF THE SOUTH
(Student Funding Corp.)
Series 87A-3 AMT VRDN
1,200 12/01/17 (b) 3.80 1,200,000
KNOX HEALTH EDUCATIONAL
AND HOUSING FACILITY BOARD
(THA Solutions Group,
Inc. Project)
Series 99 VRDN
2,000 5/01/29 (b) 3.95 2,000,000
STEWART COUNTY IDR
(Standard Gypsum )
Series 99A AMT VRDN
2,500 5/01/34 (b) 3.95 2,500,000
--------------
5,700,000
TEXAS-4.1%
GULF COAST IDA
(Citgo Petroleum Corp.)
Series 94 AMT VRDN
1,600 4/01/26 (b) 3.90 1,600,000
TEXAS STATE TRAN
Series 99A
1,000 8/31/00 3.71 1,005,743
--------------
2,605,743
VIRGINIA-1.9%
KING GEORGE COUNTY
ELECTRIC REVENUE IDA
(Birchwood Power)
Series 96A AMT VRDN
1,200 4/01/26 (b) 3.90 1,200,000
WASHINGTON-6.4%
OLYMPIA EDA
(Spring Air Northwest Project)
Series 98 AMT VRDN
1,300 11/01/23 (b) 4.05 1,300,000
PIERCE COUNTY EDA
(Truss Co.)
Series 95 AMT VRDN
500 1/01/20 (b) 4.05 500,000
4
ALLIANCE MONEY MARKET FUND - GENERAL MUNICIPAL PORTFOLIO
_______________________________________________________________________________
PRINCIPAL
AMOUNT
(000) SECURITY(A) YIELD VALUE
- -------------------------------------------------------------------------------
WASHINGTON HOUSING
FINANCE COMMISSION MFHR
(Summerglen Apartment Project)
AMT VRDN
$ 1,250 11/01/25 (b) 4.10% $ 1,250,000
WASHINGTON HOUSING
FINANCE COMMISSION MFHR
(Twin Ponds Apartment Project)
Series 98A AMT VRDN
1,000 2/01/28 (b) 3.95 1,000,000
--------------
4,050,000
WEST VIRGINIA-2.5%
MARION COUNTY SWDR
(Granttown Cogen Project)
Series 92A AMT VRDN
1,600 10/01/17 (b) 3.95 1,600,000
WISCONSIN-4.6%
FRANKLIN IDR
(Nowakowski Inc. Project)
Series 98 AMT VRDN
1,510 12/01/18 (b) 4.10 1,510,000
KENOSHA IDR
(Leblanc Corp. Project)
Series 98A AMT VRDN
1,500 12/01/18 (b) 4.20 1,500,000
--------------
3,010,000
Total Municipal Bonds
(amortized cost $62,629,326) 62,629,326
COMMERCIAL PAPER-3.1%
COLORADO-2.4%
DENVER AIRPORT REVENUE
(System Subordinate
Revenue Bond)
Series 99A AMT VRDN
1,500 3/09/00 (b) 3.70 1,500,000
TEXAS-0.7%
CALHOUN COUNTY PORT REVENUE
(British Petroleum)
Series 98 AMT
500 1/26/00 3.65 500,000
Total Commercial Paper
(amortized cost $2,000,000) 2,000,000
TOTAL INVESTMENTS-101.6%
(amortized cost $64,629,326) 64,629,326
Other assets less liabilities-1.6% (1,032,044)
NET ASSETS-100%
(offering and redemption price of
$1.00 per share; 63,597,178 shares
outstanding) $ 63,597,282
See Footnotes and Glossary of Terms on page 11.
See notes to financial statements.
5
STATEMENT OF NET ASSETS
NOVEMBER 30, 1999 ALLIANCE MONEY MARKET FUND - PRIME PORTFOLIO
_______________________________________________________________________________
PRINCIPAL
AMOUNT
(000) SECURITY(A) YIELD VALUE
- -------------------------------------------------------------------------------
CERTIFICATES OF
DEPOSIT-45.6%
AMERICAN EXPRESS CENTURION BANK
$ 22,000 5.77%, 4/28/00 FRN 5.77% $ 22,000,000
22,000 5.80%, 5/04/00 FRN 5.80 22,000,000
ASSET SECURITIZATION CORP.
15,000 5.53%, 2/15/00 FRN (c) 5.53 15,000,000
BANCO BILBAO VIZCAYA
16,000 6.00%, 2/22/00 6.00 16,000,000
BARCLAYS BANK PLC.
21,000 5.61%, 6/14/00 5.66 20,994,594
BAYERISCHE LANDESBANK
10,000 5.12%, 3/21/00 5.15 9,999,125
20,000 5.64%, 3/30/00 FRN 5.70 19,996,123
BETA FINANCE, INC.
22,000 5.91%, 7/31/00 FRN (c) 5.91 22,000,000
CANADIAN IMPERIAL BANK OF COMMERCE
15,000 5.41%, 12/30/99 5.41 15,000,000
CENTAURI CORP. USA, INC.
22,000 5.91%, 7/31/00 FRN (c) 5.91 22,000,000
22,000 6.31%, 8/25/00 FRN (c) 6.31 22,000,000
DEN DANSKE CORP.
20,000 5.54%, 12/23/99 5.54 20,000,000
DEUTSCHE BANK
10,000 5.11%, 2/22/00 5.16 9,999,234
DORADA FINANCE, INC.
15,000 6.02%, 9/15/00 (c) 6.02 15,000,000
FOUR WINDS FUNDING
25,000 5.74%, 2/17/00 FRN (c) 5.74 25,000,000
LANDESBANK HESSEN-THUERINGEN
15,000 5.92%, 9/29/00 5.98 14,992,859
NATIONAL WESTMINSTER BANK
32,000 5.63%, 4/17/00 FRN 5.69 31,993,219
RABO BANK N.Y.
8,500 5.64%, 7/20/00 5.90 8,483,596
SIGMA FINANCE CORP.
20,000 5.53%, 6/29/00 FRN (c) 5.53 20,000,000
20,000 5.64%, 6/30/00 FRN (c) 5.64 20,000,000
SOUTHTRUST BANK
19,000 5.92%, 2/22/00 5.92 19,000,000
TORONTO DOMINION BANK
12,000 5.30%, 3/06/00 5.33 11,998,938
UBS FINANCE (DELAWARE), INC.
20,000 5.16%, 2/28/00 5.19 19,998,591
16,000 5.29%, 5/19/00 5.34 15,996,417
UNIBANK
18,000 5.43%, 12/22/99 5.42 18,000,102
VARIABLE FUNDING CORP.
15,000 5.53%, 3/15/00(c) 5.53 15,000,000
WACHOVIA BANK & TRUST CO.
25,000 5.09%, 2/23/00 5.13 24,998,059
Total Certificates of Deposit
(amortized cost $497,450,857) 497,450,857
COMMERCIAL PAPER-38.4%
ALLSTATE CORP.
13,000 3/14/00 5.75 12,784,056
AMERICAN GENERAL CORP.
13,000 2/29/00 5.90 12,808,250
ASSOCIATES CORP. FIRST CAPITAL
15,000 3/14/00 5.72 14,752,133
AUSTRALIA NEW ZEALAND DELAWARE
15,000 12/21/99 5.35 14,955,417
BANK OF SCOTLAND
15,000 12/15/99 5.35 14,968,792
BANQUE CAISSE D'EPARGNE L'ETAT
16,000 3/08/00 5.81 15,746,942
CARIPLO
16,000 3/01/00 5.93 15,762,800
CDC CORP.
15,000 12/30/99 5.32 14,935,717
CLIPPER RECEIVABLES CORP.
16,000 12/01/99 (c) 5.33 16,000,000
CONCORD MINUTEMAN
SERIES B
16,100 12/01/99 (c) 5.80 16,100,000
CREDIT SUISSE FIRST BOSTON, INC.
22,000 2/07/00 5.93 22,000,000
6
ALLIANCE MONEY MARKET FUND - PRIME PORTFOLIO
_______________________________________________________________________________
PRINCIPAL
AMOUNT
(000) SECURITY(A) YIELD VALUE
- -------------------------------------------------------------------------------
DELAWARE FUNDING CORP.
$ 16,000 12/15/99 (c) 5.43% $ 15,966,213
ENTERPRISE FUNDING
15,174 12/15/99 (c) 5.45 15,141,840
GOLDEN FUNDING CO.
10,175 2/28/00 5.60 10,024,071
8,000 2/22/00 6.00 7,889,333
HALIFAX PLC.
15,000 12/23/99 5.35 14,950,958
HENKEL CORP.
2,000 12/01/99 5.51 2,000,000
LLOYDS BANK PLC.
15,000 12/20/99 5.35 14,957,646
MARKET STREET FUNDING
16,000 12/09/99 (c) 5.44 15,980,658
ROYAL BANK OF CANADA
16,000 12/29/99 5.42 15,932,551
SBC COMMUNICATIONS, INC.
20,000 12/06/99 5.75 19,984,028
SNAP-ON, INC.
7,000 12/09/99 5.50 6,991,444
SOCIETE GENERALE
15,000 12/28/99 5.35 14,939,869
SVENSKA HANDLESBANKEN
15,000 12/29/99 5.34 14,937,700
THREE RIVERS FUNDING CORP.
8,000 12/13/99 (c) 5.54 7,985,227
8,241 12/15/99 (c) 5.54 8,223,245
TRIPLE A FUNDING CORP.
9,510 12/15/99 (c) 5.44 9,489,881
6,500 12/01/99 (c) 5.52 6,500,000
WALMART STORES, INC.
16,000 12/15/99 5.57 15,965,342
WELLS FARGO CORP.
16,000 3/31/00 5.90 15,689,702
WESTPAC CAPITAL CORP.
15,000 3/08/00 5.76 14,764,800
Total Commercial Paper
(amortized cost $419,128,615) 419,128,615
U.S. GOVERNMENT
AGENCIES-16.0%
FEDERAL HOME LOAN BANK
50,000 6.07%, 10/06/00 FRN 6.14 49,971,029
FEDERAL NATIONAL
MORTGAGE ASSOCIATION
15,000 6.05%, 10/05/00 FRN 6.11 14,993,809
STUDENT LOAN
MARKETING ASSOCIATION
30,000 6.06%, 2/04/00 FRN 6.08 29,998,954
30,000 6.06%, 10/04/00 FRN 6.11 29,987,657
50,000 6.06%, 10/12/00 FRN 6.11 49,953,597
Total U.S. Government Agencies
(amortized cost $174,905,046) 174,905,046
TIME DEPOSIT-2.2%
BANK OF MONTREAL
16,000 5.38%, 12/01/99 5.38 16,000,000
WESTDEUTSCHE LANDESBANK
8,000 5.72%, 12/01/99 5.72 8,000,000
Total Time Deposits
(amortized cost $24,000,000) 24,000,000
TOTAL INVESTMENTS-102.2%
(amortized cost $1,115,484,518) 1,115,484,518
Other assets less liabilities-( 2.2%) (24,913,841)
NET ASSETS-100%
(offering and redemption price of
$1.00 per share; 1,090,569,778 shares
outstanding) $1,090,570,677
See Footnotes and Glossary of Terms on page 11.
See notes to financial statements.
7
STATEMENT OF NET ASSETS
NOVEMBER 30, 1999 ALLIANCE MONEY MARKET FUND - GOVERNMENT PORTFOLIO
_______________________________________________________________________________
PRINCIPAL
AMOUNT
(000) SECURITY(A) YIELD VALUE
- -------------------------------------------------------------------------------
U.S. GOVERNMENT AGENCIES-62.7%
FEDERAL HOME LOAN BANK-27.3%
$ 1,750 5.00%, 2/10/00 5.00% $ 1,749,985
340 4.95%, 2/17/00 5.00 339,916
500 4.95%, 2/18/00 5.00 499,874
430 5.03%, 2/25/00 5.05 429,952
250 5.02%, 3/03/00 5.02 250,000
800 5.05%, 3/03/00 5.05 800,000
500 5.14%, 3/17/00 5.14 500,000
600 5.10%, 3/03/00 5.15 599,921
900 5.10%, 5/17/00 5.17 899,727
1,000 5.16%, 3/08/00 5.23 999,799
900 5.15%, 5/19/00 5.23 899,645
900 5.42%, 6/14/00 5.46 899,824
390 5.48% 7/13/00 5.58 389,770
1,000 5.62%, 10/16/00 FRN 5.63 999,105
500 5.50%, 4/14/00 5.66 499,577
145 12/22/99 5.73 144,518
300 3/29/00 5.74 294,467
100 1/14/00 5.75 99,303
200 1/25/00 5.76 198,258
150 1/28/00 5.76 148,623
500 5.26%, 5/26/00 5.80 498,557
384 2/23/00 5.83 378,848
200 4/14/00 5.83 195,725
1,000 5.88%, 10/19/00 FRN 5.88 1,000,000
3,000 5.88%, 7/28/00 FRN 5.89 2,998,230
100 1/12/00 6.05 99,300
500 6.05%, 11/03/00 6.05 499,968
1,000 6.05%, 10/06/00 FRN 6.06 999,586
1,000 6.06%, 10/06/00 FRN 6.14 999,421
200 2/07/00 6.08 197,733
1,000 6.08%, 3/15/00 FRN 6.08 1,000,000
240 3/01/00 6.10 236,360
----------
20,745,992
FEDERAL NATIONAL MORTGAGE ASSOCIATION-14.8%
800 5.00%, 5/05/00 MTN 5.10 799,604
500 5.04%, 4/06/00 MTN 5.15 499,869
279 12/08/99 5.21 278,724
1,000 12/02/99 5.30 999,854
1,000 12/17/99 5.31 997,667
1,000 12/10/99 5.33 998,685
150 12/13/99 5.35 149,736
2,000 5.67%, 7/17/00 FRN 5.67 1,999,376
398 2/25/00 5.68 392,723
277 3/01/00 5.68 273,114
500 5.10%, 5/19/00 MTN 5.68 498,553
500 3/10/00 5.70 492,305
1,000 6.36%, 8/16/00 5.75 1,004,100
182 4/10/00 5.77 178,291
1,000 5.12%, 5/12/00 MTN 5.80 996,708
239 8/11/00 5.89 229,388
500 5.92%, 12/07/00 MTN 6.11 499,060
----------
11,287,757
STUDENT LOAN MARKETING ASSOCIATION-11.8%
1,000 6.00%, 2/14/00 FRN 6.01 999,879
1,000 6.02%, 3/16/00 FRN 6.03 999,864
1,000 6.03%, 11/17/00 FRN 6.04 999,327
1,000 6.05%, 2/04/00 FRN 6.05 999,965
3,000 6.05%, 8/10/00 FRN 6.06 2,999,378
1,000 6.05%, 10/12/00 FRN 6.06 999,072
1,000 6.05%, 11/15/00 FRN 6.06 999,531
----------
8,997,016
FEDERAL HOME LOAN MORTGAGE CORP.-7.9%
1,500 12/01/99 5.31 1,500,000
261 1/20/00 5.35 259,111
1,000 12/13/99 5.40 998,207
1,000 12/17/99 5.41 997,609
719 12/21/99 5.41 716,851
400 3/02/00 5.67 394,337
173 2/01/00 5.72 171,326
379 3/09/00 5.72 373,215
135 1/10/00 5.74 134,145
109 2/10/00 5.77 107,775
176 2/28/00 5.79 173,520
210 8/04/00 5.89 201,787
----------
6,027,883
FEDERAL FARM CREDIT BANK-0.9%
285 1/12/00 5.75 283,105
130 1/18/00 5.75 129,012
125 1/19/00 5.75 124,030
154 3/03/00 5.84 151,712
----------
687,859
Total U.S. Government Agencies
(amortized cost $47,746,507) 47,746,507
8
ALLIANCE MONEY MARKET FUND - GOVERNMENT PORTFOLIO
_______________________________________________________________________________
PRINCIPAL
AMOUNT
(000) SECURITY(A) YIELD VALUE
- -------------------------------------------------------------------------------
REPURCHASE AGREEMENTS-37.5%
ABN AMRO SECURITIES, INC.
$3,500 5.70%, dated 11/30/99
due 12/01/99 in the
amount of $3,500,554
(cost $3,500,000;
collateralized by $3,537,000
FNMA; 5.73%, 9/22/00
value $3,564,769) 5.70% $3,500,000
BANK OF AMERICA
1,000 5.30%, dated 11/09/99
due 12/14/99 in the
amount of $1,005,153
(cost $1,000,000;
collateralized by $1,225,000
FNMA; 6.00%, 11/01/13
value $1,052,097) (d) 5.30 1,000,000
BANK OF AMERICA
1,500 5.30%, dated 11/09/99
due 12/16/99 in the
amount of $1,508,171
(cost $1,500,000;
collateralized by $1,825,000
FNMA; 6.00%, 11/01/13
value $1,568,602) (d) 5.30 1,500,000
BANK OF AMERICA
1,000 5.50%, dated 11/17/99
due 12/22/99 in the
amount of $1,005,347
(cost $1,000,000;
collateralized by $1,125,000
FNMA; 6.00%, 4/14/14
value $1,024,833) (d) 5.50 1,000,000
BARCLAYS DEZOETE WEDD SECURITIES, INC.
2,000 5.25%, dated 11/04/99
due 12/06/99 in the
amount of $2,009,333
(cost $2,000,000;
collateralized by $2,000,000
FHLB; 5.05%, 2/25/00
value $2,072,753) (d) 5.25 2,000,000
CHASE MANHATTAN BANK
$2,000 5.48%, dated 11/17/99
due 12/23/99 in the
amount of $2,010,960
(cost $2,000,000;
collateralized by $3,275,000
FHLMC; 5.754%, 5/01/34
value $2,044,268) (d) 5.48 2,000,000
CREDIT SUISSE FIRST BOSTON, INC.
2,000 5.27%, dated 11/05/99
due 12/09/99 in the
amount of $2,009,954
(cost $2,000,000;
collateralized by $2,479,000
FNMA; 7.50%, 7/01/28
value $2,038,212) (d) 5.27 2,000,000
DEUTSCHE MORGAN GRENFELL
2,000 5.69%, dated 11/30/99
due 12/01/99 in the
amount of $2,000,316
(cost $2,000,000;
collateralized by $2,200,000
FHLB; 5.48%, 1/08/09
value $2,056,430) 5.69 2,000,000
GOLDMAN SACHS & COMPANY
2,000 5.28%, dated 11/05/99
due 12/07/99 in the
amount of $2,009,387
(cost $2,000,000;
collateralized by $2,250,000
FNMA; 6.00%, 2/01/29
value $2,049,298) (d) 5.28 2,000,000
MORGAN STANLEY DEAN WITTER
3,500 5.26%, dated 11/08/99
due 12/08/99 in the
amount of $ 3,515,342
(cost $3,500,000;
collateralized by $3,703,946
FNMA; 6.50%, 1/01/29
value $3,560,725) (d) 5.26 3,500,000
PAINE WEBBER, INC.
1,000 5.50%, dated 11/18/99
due 12/27/99 in the
amount of $1,005,958
(cost $1,000,000;
collateralized by $1,061,442
FNMA; 6.00%, 4/01/14
value $1,021,627) (d) 5.50 1,000,000
9
STATEMENT OF NET ASSETS
(CONTINUED) ALLIANCE MONEY MARKET FUND - GOVERNMENT PORTFOLIO
_______________________________________________________________________________
PRINCIPAL
AMOUNT
(000) SECURITY(A) YIELD VALUE
- -------------------------------------------------------------------------------
PAINE WEBBER, INC.
$1,000 5.50%, dated 11/18/99
due 12/28/99 in the
amount of $1,006,111
(cost $1,000,000;
collateralized by $1,019,422
FHLMC; 7.00%, 1/01/11
value $1,021,347) (d) 5.50% $ 1,000,000
PARIBAS CORP.
3,500 5.70%, dated 11/30/99
due 12/01/99 in the
amount of $ 3,500,554
(cost $3,500,000;
collateralized by $3,620,000
FHLB; 4.875%, 1/22/02
value $3,580,975) 5.70 3,500,000
PRUDENTIAL SECURITIES, INC.
2,500 5.70%, dated 11/30/99
due 12/01/99 in the
amount of $2,500,396
(cost $2,500,000;
collateralized by $2,590,000
FNMA; 7.00%, 11/01/14
value $2,569,804) 5.70 2,500,000
Total Repurchase Agreements
(amortized cost $28,500,000) 28,500,000
TOTAL INVESTMENTS-100.2%
(amortized cost $76,246,507) 76,246,507
Other assets less liabilities-(0.2%) (176,228)
NET ASSETS-100%
(offering and redemption price of $1.00 per share;
76,075,883 shares outstanding) $76,070,279
See Footnotes and Glossary of Terms on page 11.
See notes to financial statements.
10
ALLIANCE MONEY MARKET FUND
_______________________________________________________________________________
(a) All securities either mature or their interest rate changes in 397 days or
less.
(b) Variable Rate Demand Notes (VRDN) are instruments whose interest rates
change on a specified date (such as a coupon date or interest payment date) or
whose interest rates vary with changes in a designated base rate (such as the
prime interest rate). These instruments are payable on demand and are secured
by letters of credit or other credit support agreements from major banks.
Period Put Bonds (PPB) are payable on demand quarterly, semi-annually or
annually and their interest rates change less frequently than rates on Variable
Rate Demand Notes.
(c) Securities issued in reliance on section (4) 2 or Rule 144A of the
Securities Act of 1933. Rule 144A Securities may be resold in transactions
exempt from registration, normally to qualified institutional buyers. These
securities have been determined by the Adviser to be liquid pursuant to
procedures adopted by the Trustees. At November 30, 1999, these securities
amounted to $309,387,064 representing 28.4% of net assets in the Prime
Portfolio.
(d) Repurchase agreements which are terminable within 7 days.
Glossary of Terms:
AMT Alternative Minimum Tax
CDA Community Development Authority
EDA Economic Development Authority
FHLB Federal Home Loan Bank
FHLMC Federal Home Loan Mortgage Corporation
FNMA Federal National Mortgage Association
FRN Floating Rate Note
FSA Financial Security Assurance, Inc.
HDA Housing Development Agency
HFA Housing Finance Agency/Authority
IDA Industrial Development Agency/Authority
IDR Industrial Development Revenue
MFHR Multi-Family Housing Revenue
MTN Medium Term Note
PCR Pollution Control Revenue
SFMR Single Family Mortgage Revenue
SWDR Solid Waste Disposal Revenue
TRAN Tax & Revenue Anticipation Note
See notes to financial statements.
11
STATEMENTS OF OPERATIONS
YEAR ENDED NOVEMBER 30, 1999 ALLIANCE MONEY MARKET FUND
_______________________________________________________________________________
GENERAL
MUNICIPAL PRIME GOVERNMENT
PORTFOLIO PORTFOLIO PORTFOLIO
--------- --------- ---------
INVESTMENT INCOME
Interest $1,973,365 $45,053,917 $3,032,992
EXPENSES
Advisory fee (Note B) 290,244 4,296,718 293,573
Distribution assistance (Note C) 261,220 3,867,047 264,216
Custodian fees 95,678 224,059 100,733
Registration fees 61,883 426,989 50,249
Administrative fee (Note C) 29,024 429,671 29,357
Printing 18,748 140,586 12,985
Organization 14,600 14,965 14,600
Audit and legal fees 7,690 93,062 5,681
Trustees' fees 7,742 7,742 7,742
Miscellaneous 8,118 52,736 9,946
Total expenses 794,947 9,553,575 789,082
Less: fee waiver and reimbursement (214,459) (960,139) (201,936)
Net expenses 580,488 8,593,436 587,146
Net investment income 1,392,877 36,460,481 2,445,846
REALIZED GAIN ON INVESTMENTS
Net realized gain on investment
transactions -0- 4,180 199
NET INCREASE IN NET ASSETS FROM
OPERATIONS $1,392,877 $36,464,661 $2,446,045
See notes to financial statements.
12
STATEMENTS OF CHANGES IN NET ASSETS ALLIANCE MONEY MARKET FUND
_______________________________________________________________________________
<TABLE>
<CAPTION>
GENERAL
MUNICIPAL PRIME GOVERNMENT
PORTFOLIO PORTFOLIO PORTFOLIO
-------------------------- -------------------------- -----------------------------
YEAR ENDED YEAR ENDED YEAR ENDED YEAR ENDED YEAR ENDED YEAR ENDED
NOVEMBER 30, NOVEMBER 30, NOVEMBER 30, NOVEMBER 30, NOVEMBER 30, NOVEMBER 30,
1999 1998 1999 1998 1999 1998
----------- ------------- ------------- ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C>
INCREASE (DECREASE) IN NET
ASSETS FROM OPERATIONS
Net investment income $ 1,392,877 $ 3,628,070 $ 36,460,481 $ 147,275,473 $ 2,445,846 $ 5,891,478
Net realized gain (loss)
on investments
transactions -0- 5,931 4,180 (3,281) 199 (5,803)
Net increase in net
assets from
operations 1,392,877 3,634,001 36,464,661 147,272,192 2,446,045 5,885,675
DIVIDENDS AND DISTRIBUTIONS
TO SHAREHOLDERS FROM:
Net investment income (1,392,877) (3,628,070) (36,460,481) (147,275,473) (2,445,846) (5,891,478)
Net realized gain on
investments (5,812) (615) -0- (26,728) -0- (187)
TRANSACTIONS IN SHARES OF
BENEFICIAL INTEREST (Note E)
Net increase
(decrease) 19,262,396 (93,023,004) 408,101,387 (2,615,405,613) 33,884,576 (81,675,080)
Total increase
(decrease) 19,256,584 (93,017,688) 408,105,567 (2,615,435,622) 33,884,775 (81,681,070)
NET ASSETS
Beginning of year 44,340,698 137,358,386 682,465,110 3,297,900,732 42,185,504 123,866,574
End of year $63,597,282 $ 44,340,698 $1,090,570,677 $ 682,465,110 $ 76,070,279 $ 42,185,504
</TABLE>
See notes to financial statements.
13
NOTES TO FINANCIAL STATEMENTS
NOVEMBER 30, 1999 ALLIANCE MONEY MARKET FUND
_______________________________________________________________________________
NOTE A: SIGNIFICANT ACCOUNTING POLICIES
Alliance Money Market Fund (the "Fund") is an open-end diversified investment
company registered under the Investment Company Act of 1940. The Fund currently
offers three Portfolios: General Municipal Portfolio, Prime Portfolio and
Government Portfolio (the "Portfolios"). Each Portfolio is considered to be a
separate entity for financial reporting and tax purposes. Each Portfolio
pursues its objectives by maintaining a portfolio of high-quality money market
securities. At the time of investment, such securities have remaining
maturities of 397 days or less. The financial statements have been prepared in
conformity with generally accepted accounting principles which require
management to make certain estimates and assumptions that affect the reported
amounts of assets and liabilities in the financial statements and amounts of
income and expenses during the reporting period. Actual results could differ
from those estimates. The following is a summary of significant accounting
policies followed by the Portfolios.
1. VALUATION OF SECURITIES
Securities in which the Portfolios invest are traded primarily in the
over-the-counter market and are valued at amortized cost, under which method a
portfolio instrument is valued at cost and any premium or discount is amortized
on a straight-line basis to maturity. Certain illiquid securities containing
unconditional par puts are also valued at amortized cost.
2. ORGANIZATION EXPENSES
Organization expenses of approximately $74,000 for each of the Portfolios have
been deferred and are being amortized on a straight-line basis through
December, 2000.
3. TAXES
It is the Portfolios' policy to comply with the requirements of the Internal
Revenue Code applicable to regulated investment companies and to distribute all
of its investment company taxable income and net realized gains, if applicable,
to its shareholders. Therefore, no provisions for federal income or excise
taxes are required.
4. DIVIDENDS
The Portfolios declare dividends daily and automatically reinvest such
dividends in additional shares at net asset value. Net realized capital gains
on investments, if any, are expected to be distributed near year end. Dividends
paid from net investment income for the year ended November 30, 1999 from the
General Municipal Portfolio are exempt from federal income taxes. However,
certain shareholders may be subject to the alternative minimum tax (AMT).
5. INVESTMENT INCOME AND INVESTMENT TRANSACTIONS
Interest income is accrued daily. Investment transactions are recorded on the
date securities are purchased or sold. Realized gain (loss) from investment
transactions is recorded on the identified cost basis.
6. REPURCHASE AGREEMENTS
It is the Fund's policy to take possession of securities as collateral under
repurchase agreements and to determine on a daily basis that the value of such
securities are sufficient to cover the value of the repurchase agreements.
NOTE B: ADVISORY FEE AND TRANSACTIONS WITH AN AFFILIATE OF THE ADVISER
Under the Advisory Agreement, each Portfolio pays the Adviser, Alliance Capital
Management L.P., an advisory fee at the annual rate of .50 of 1% of each
Portfolio's average daily net assets. The Adviser has agreed to reimburse each
Portfolio to the extent that its aggregate expenses (excluding taxes,
brokerage, interest and, where permitted, extraordinary expenses) exceed 1% of
its average daily net assets. For the year ended November 30, 1999 for the
General Municipal Portfolio, Prime Portfolio and Government Portfolio, the
Adviser reimbursed $207,460, $931,743 and $200,052, respectively. The General
Municipal, Prime and Government Portfolios do not compensate Alliance Fund
Services, Inc. (a wholly-owned subsidiary of the Adviser) for providing
personnel and facilities to perform transfer agency services or for out of
pocket expenses.
14
ALLIANCE MONEY MARKET FUND
_______________________________________________________________________________
NOTE C: DISTRIBUTION SERVICES AGREEMENT AND ADMINISTRATION AGREEMENT
Under the Distribution Services Agreement, which includes a distribution plan
adopted pursuant to Rule 12b-1 of the Investment Company Act of 1940 (the
"Plan"), the Fund pays Alliance Fund Distributors, Inc. (the "Distributor"), a
wholly owned subsidiary of the Adviser, a distribution fee at the annual rate
of .45 of 1% of the average daily value of the Fund's net assets. The Plan
provides that the Distributor will use amounts payable under the Plan in their
entirety for (i) payments to broker-dealers and other financial intermediaries,
including the Distributor, for distribution assistance and payments to banks
and other depository institutions for administrative and accounting services
and (ii) otherwise promoting the sale of shares of the Portfolios. For the year
ended November 30, 1999, the General Municipal Portfolio, Prime Portfolio and
Government Portfolio, paid fees of $261,220, $3,867,047 and $264,216,
respectively.
Pursuant to an Administration Agreement, ADP Financial Information Services,
Inc. ("ADP"), a wholly-owned subsidiary of Automatic Data Processing, Inc.,
serves as administrator of the Fund, on behalf of the Portfolios. The
Administrator performs or arranges for the performance of certain services,
mainly remote processing services through its propriety shareholder accounting
system. ADP is entitled to receive from each Portfolio a fee computed daily and
paid monthly at a maximum annual rate equal to .05% of such Portfolio's average
daily net assets. ADP may, from time to time, voluntarily waive all or a
portion of its fees payable to it under the Administration Agreement. For the
year ended November 30, 1999, the General Municipal Portfolio incurred fees of
$29,024 of which $6,999 were waived, the Prime Portfolio incurred fees of
$429,671 of which $28,396 were waived and the Government Portfolio incurred
fees of $29,357 of which $1,884 were waived.
NOTE D: INVESTMENT TRANSACTIONS
At November 30, 1999, the cost of portfolio securities for federal income tax
purposes was the same as the cost for financial reporting purposes. At November
30, 1999, the Government Portfolio had a capital loss carryforward of $5,604
expiring in the year 2007.
NOTE E: TRANSACTIONS IN SHARES OF BENEFICIAL INTEREST
An unlimited number of shares ($.001 par value) are authorized. At November 30,
1999, capital paid-in aggregated $63,597,178, $1,090,569,778 and $76,075,883
for the General Municipal Portfolio, Prime Portfolio and Government Portfolio,
respectively. Transactions, all at $1.00 per share, were as follows:
<TABLE>
<CAPTION>
GENERAL
MUNICIPAL PRIME GOVERNMENT
PORTFOLIO PORTFOLIO PORTFOLIO
-------------------------- -------------------------- -----------------------------
YEAR ENDED YEAR ENDED YEAR ENDED YEAR ENDED YEAR ENDED YEAR ENDED
NOVEMBER 30, NOVEMBER 30, NOVEMBER 30, NOVEMBER 30, NOVEMBER 30, NOVEMBER 30,
1999 1998 1999 1998 1999 1998
----------- ------------- ------------- ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C>
Shares sold 171,640,243 567,543,637 1,240,264,656 15,983,075,639 93,325,987 518,447,921
Shares issued on
reinvestments of dividends 1,398,689 3,628,685 36,460,481 147,302,201 2,445,846 5,891,665
Shares redeemed (153,776,536) (664,195,326) (868,623,750) (18,745,783,453) (61,887,257) (606,014,666)
Net increase (decrease) 19,262,396 (93,023,004) 408,101,387 (2,615,405,613) 33,884,576 (81,675,080)
</TABLE>
15
FINANCIAL HIGHLIGHTS ALLIANCE MONEY MARKET FUND
_______________________________________________________________________________
<TABLE>
<CAPTION>
GENERAL MUNICIPAL PORTFOLIO
----------------------------------------------------
DECEMBER 13,
1995(A)
YEAR ENDED NOVEMBER 30, TO
------------------------------------- NOVEMBER 30,
1999 1998 1997 1996
----------- ----------- ----------- -------------
<S> <C> <C> <C> <C>
Net asset value, beginning of period $1.00 $1.00 $1.00 $1.00
INCOME FROM INVESTMENT OPERATIONS
Net investment income (b) .024 .027 .029 .027
LESS: DIVIDENDS
Dividends from net investment income (.024) (.027) (.029) (.027)
Net asset value, end of period $1.00 $1.00 $1.00 $1.00
TOTAL RETURN
Total investment return
based on net asset value (c) 2.42% 2.76% 2.92% 2.71%
RATIOS/SUPPLEMENTAL DATA
Net assets, end of period (in millions) $64 $44 $137 $123
Ratio to average net assets of:
Expenses, net of waivers and
reimbursements 1.00% 1.00% 1.00% 1.00%(d)
Expenses, before waivers and
reimbursements 1.37% 1.17% 1.21% 1.39%(d)
Net investment income (b) 2.40% 2.74% 2.87% 2.76%(d)
</TABLE>
See footnote summary on page 18.
16
ALLIANCE MONEY MARKET FUND
_______________________________________________________________________________
<TABLE>
<CAPTION>
PRIME PORTFOLIO
----------------------------------------------------
DECEMBER 29,
1995(A)
YEAR ENDED NOVEMBER 30, TO
------------------------------------- NOVEMBER 30,
1999 1998 1997 1996
----------- ----------- ----------- -------------
<S> <C> <C> <C> <C>
Net asset value, beginning of period $1.00 $1.00 $1.00 $1.00
INCOME FROM INVESTMENT OPERATIONS
Net investment income (b) .042 .047 .046 .041
LESS: DIVIDENDS
Dividends from net investment income (.042) (.047) (.046) (.041)
Net asset value, end of period $1.00 $1.00 $1.00 $1.00
TOTAL RETURN
Total investment return based on
net asset value (c) 4.31% 4.77% 4.75% 4.23%
RATIOS/SUPPLEMENTAL DATA
Net assets, end of period (in millions) $1,091 $682 $3,298 $2,772
Ratio to average net assets of:
Expenses, net of waivers and
reimbursements 1.00% 1.00% 1.00% 1.00%(d)
Expenses, before waivers and
reimbursements 1.11% 1.06% 1.06% 1.23%(d)
Net investment income (b) 4.24% 4.69% 4.65% 4.50%(d)
</TABLE>
See footnote summary on page 18.
17
FINANCIAL HIGHLIGHTS (CONTINUED) ALLIANCE MONEY MARKET FUND
_______________________________________________________________________________
<TABLE>
<CAPTION>
GOVERNMENT PORTFOLIO
----------------------------------------------------
DECEMBER 29,
1995(A)
YEAR ENDED NOVEMBER 30, TO
------------------------------------ NOVEMBER 30,
1999 1998 1997 1996
----------- ----------- ----------- -------------
<S> <C> <C> <C> <C>
Net asset value, beginning of period $1.00 $1.00 $1.00 $1.00
INCOME FROM INVESTMENT OPERATIONS
Net investment income (b) .041 .046 .045 .041
LESS: DIVIDENDS
Dividends from net investment income (.041) (.046) (.045) (.041)
Net asset value, end of period $1.00 $1.00 $1.00 $1.00
TOTAL RETURN
Total investment return based on
net asset value (c) 4.23% 4.67% 4.64% 4.18%
RATIOS/SUPPLEMENTAL DATA
Net assets, end of period (in millions) $76 $42 $124 $100
Ratio to average net assets of:
Expenses, net of waivers and
reimbursements 1.00% 1.00% 1.00% 1.00%(d)
Expenses, before waivers and
reimbursements 1.34% 1.14% 1.25% 1.42%(d)
Net investment income (b) 4.17% 4.60% 4.54% 4.45%(d)
</TABLE>
(a) Commencement of operations.
(b) Net of expenses reimbursed or waived by the Adviser.
(c) Total investment return is calculated assuming an initial investment made
at the net asset value at the beginning of the period, reinvestment of all
dividends and distributions at net asset value during the period, and
redemption on the last day of period. Total investment return calculated for a
period of less than one year is not annualized.
(d) Annualized.
18
REPORT OF INDEPENDENT ACCOUNTANTS ALLIANCE MONEY MARKET FUND
_______________________________________________________________________________
TO THE TRUSTEES AND SHAREHOLDERS OF
ALLIANCE MONEY MARKET FUND
In our opinion, the accompanying statements of net assets and the related
statements of operations and of changes in net assets and the financial
highlights present fairly, in all material respects, the financial position of
Alliance Money Market Fund - General Municipal, Prime and Government Portfolios
(the "Fund") at November 30, 1999, and the results of each of their operations,
the changes in each of their net assets and the financial highlights for the
year then ended, in conformity with generally accepted accounting principles.
These financial statements and financial highlights (hereafter referred to as
"financial statements") are the responsibility of the Fund's management; our
responsibility is to express an opinion on these financial statements based on
our audit. We conducted our audit of these financial statements in accordance
with generally accepted auditing standards which require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates
made by management, and evaluating the overall financial statement
presentation. We believe that our audit, which included confirmation of
securities at November 30, 1999 by correspondence with the custodian and
brokers, provides a reasonable basis for the opinion expressed above. The
financial statements for the year ended November 30, 1998, including the
financial highlights for each of the periods prior to November 30, 1999, were
audited by other independent accountants whose report dated December 18, 1998
expressed an unqualified opinion on those financial statements.
PricewaterhouseCoopers LLP
New York, New York
December 23, 1999
19
CHANGE IN INDEPENDENT ACCOUNTANT ALLIANCE MONEY MARKET FUND
_______________________________________________________________________________
McGladrey & Pullen, LLP ("McGladrey") resigned as independent auditors of the
Fund pursuant to an agreement by PricewaterhouseCoopers LLP ("PwC") to acquire
McGladrey's investment company practice. The McGladrey partners and
professionals serving the Fund at the time of the acquisition joined PwC.
The reports of McGladrey on the financial statements of the Fund during the
past two fiscal years contained no adverse opinion or disclaimer of opinion,
and were not qualified or modified as to uncertainty, audit scope or accounting
principles.
In connection with its audits for the two most recent fiscal years and through
August 21, 1999, there were no disagreements with McGladrey on any matter of
accounting principle or practices, financial statement disclosure, or auditing
scope or procedure, which disagreements, if not resolved to the satisfaction of
McGladrey would have caused it to make reference to the subject matter of
disagreement in connection with its report.
On September 25, 1999, the Fund, with the approval of its Trustees and its
Audit Committee, engaged PwC as its independent auditors.
20
ALLIANCE MONEY MARKET FUND
_______________________________________________________________________________
ALLIANCE MONEY MARKET FUND
Alliance Money Market Fund, Inc.
1345 Avenue of the Americas
New York, NY 10105
Toll-free 1(800) 221-5672
CUSTODIAN
BANK OF NEW YORK
90 Washington Street
New York, NY 10286
PRINCIPAL UNDERWRITER
Alliance Fund Distributors, Inc.
1345 Avenue of the Americas
New York, NY 10105
TRANSFER AGENT
ALLIANCE FUND SERVICES, INC.
P.O. Box 1520
Secaucus, NJ 07096-1520
Toll-Free 1-(800) 221-5672
INDEPENDENT AUDITORS
PRICEWATERHOUSECOOPERS LLP
1177 Avenue of the Americas
New York, NY 10036
LEGAL COUNSEL
Seward & Kissel LLP
One Battery Park Plaza
New York, NY 10004
21
ALLIANCE MONEY MARKET FUND
1345 Avenue of the Americas, New York, NY 10105
ALLIANCE CAPITAL
DISTRIBUTION OF THIS REPORT OTHER THAN TO SHAREHOLDERS MUST
BE PRECEDED OR ACCOMPANIED BY THE FUND'S CURRENT PROSPECTUS,
WHICH CONTAINS FURTHER INFORMATION ABOUT THE FUND.
R THESE REGISTERED SERVICE MARKS USED UNDER LICENSE FROM
THE OWNER, ALLIANCE CAPITAL MANAGEMENT L.P.
MONMKTAR1199
