Alliance New York Municipal Income Fund Releases Monthly Portfolio Update New York, Nov. 29 /PRNewswire-FirstCall/ -- Alliance New York Municipal Income Fund, Inc. [NYSE: AYN] (the "Fund") today released its monthly portfolio update as of October 31, 2004. Alliance New York Municipal Income Fund, Inc. Top 10 Fixed-Income Holdings Portfolio% 1) NYS Mtg Agy AMT 5.450% (04/01/31) 9.57% 2) NY Metro Trans Auth 5.125% (11/15/31) 4.83% 3) New York State Dorm Auth MBIA 5.750% (08/01/29) 4.79% 4) NYC Trust Cultural Resources 5.125% (07/01/31) 4.44% 5) New York State UDC 5.250% (03/15/32) 4.42% 6) NYC Muni Wtr Fin Auth 5.125% (06/15/34) 4.41% 7) Trib Brdg & Tunl Auth NY 5.000% (01/01/32) 4.36% 8) Tobacco Settlement NY AMBAC As 5.250% (06/01/21) 3.70% 9) New York NY Go Pre Re 5.500% (12/01/31) 3.46% 10) Suffolk Cnty NY Ser 98 AMT 5.500% (01/01/23) 3.06% Industry/Sector Breakdown Portfolio% Hospital/Health Care 18.30% Transportation 14.29% Housing-Mortgages 11.15% General Obligation 10.90% Special Tax 9.93% Water/SWR 6.17% Higher Education 5.93% Corporate - Utility (Electric) 5.81% Cop/Lease Rental 3.70% Housing-Rental Units 2.94% Continuing Care Facility 2.38% Community Facility 2.07% Utility 1.58% Assessment District 1.45% Airport Facility 0.87% Short-term: 2.53% Total: 100.00% Bond Rating Portfolio% AAA 41.15% AA 24.27% A 22.75% BBB 3.43% BB 8.40% Total 100.00% Percentage of Leverage: Bank Loans: 0% Investment Operations: 0.03% Preferred Stock: 38.52% Total: 38.55%(*) Avg. Maturity: 23.52 Years Duration: 10.16 Years Total Net Assets: $117.9 Million Net Asset Value: $15.10 Number of Holdings: 47 (*) The total percentage of leverage constitutes 38.52% in preferred stock, which represents issued and outstanding preferred stock, and 0.03% in investment operations which may include the use of certain portfolio management techniques such as credit default swaps, dollar rolls, negative cash, reverse repurchase agreements and when-issued securities. The foregoing portfolio characteristics are as of the date indicated and can be expected to change. The Fund is a closed-end U.S.-registered management investment company advised by Alliance Capital Management L. P. DATASOURCE: Alliance New York Municipal Income Fund, Inc. CONTACT: Shareholders of Alliance New York Municipal Income Fund, Inc., 1-800-221-5672 Web site: http://www.alliancecapital.com/

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