AllianceBernstein Announces February 28, 2009 Assets Under Management

NEW YORK, March 10 /PRNewswire-FirstCall/ -- AllianceBernstein Holding L.P. (NYSE: AB) and AllianceBernstein L.P. today reported that during the month of February, preliminary assets under management decreased by approximately $35 billion, or 8.2%, to $394 billion at February 28, 2009, due primarily to negative investment returns as well as net outflows in all distribution channels, principally in the Institutional Investments channel.

                                 ALLIANCEBERNSTEIN L.P.
                               (THE OPERATING PARTNERSHIP)
                                ASSETS UNDER MANAGEMENT
                                     ($ billions)

                   -----------------------------------------   ----------
                                At February 28, 2009           At Jan 31,
                                   (preliminary)                  2009
                   ------------------------------------------  ----------
                  Institutional             Private
                   Investments   Retail      Client     Total    Total
                   -----------   ------      ------     -----  ----------
    Equity
      Value           $81         $31          $19      $131      $152
      Growth           43          17           12        72        81
                   -----------   ------      ------     -----  ----------
    Total Equity      124          48           31       203       233
                   -----------   ------      ------     -----  ----------

    Fixed Income      113          28           30       171       174

    Other(1)           11           9            -        20        22
                   -----------   ------      ------     -----  ----------
    Total            $248         $85          $61      $394      $429
                   ===========   ======      ======     =====  ==========


                   ------------------------------------------
                                 At January 31, 2009
                   ------------------------------------------

    Total            $271         $93          $65      $429
                   ===========   ======      ======     =====

    (1) Includes Index, Structured and Asset Allocation services.

About AllianceBernstein

AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment services to institutional clients, individuals and private clients in major markets around the world. AllianceBernstein employs more than 500 investment professionals with expertise in growth equities, value equities, fixed income securities, blend strategies and alternative investments and, through its subsidiaries and joint ventures, operates in more than 20 countries. AllianceBernstein's research disciplines include fundamental research, quantitative research, economic research and currency forecasting capabilities. Through its integrated global platform, AllianceBernstein is well-positioned to tailor investment solutions for its clients. AllianceBernstein also offers independent research, portfolio strategy and brokerage-related services to institutional investors.

At February 2, 2009, AllianceBernstein Holding L.P. ("Holding") owned approximately 34.3% of the issued and outstanding AllianceBernstein Units. AXA Financial was the beneficial owner of approximately 65.1% of the AllianceBernstein Units at December 31, 2008 (including those held indirectly through its ownership of approximately 1.6% of the issued and outstanding Holding Units) which, including the general partnership interests in AllianceBernstein and Holding, represent an approximate 65.4% economic interest in AllianceBernstein. AXA Financial is a wholly-owned subsidiary of AXA, one of the largest global financial services organizations.

Cautions regarding Forward-Looking Statements

Certain statements provided by management in this news release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. The most significant of these factors include, but are not limited to, the following: the performance of financial markets, the investment performance of sponsored investment products and separately managed accounts, general economic conditions, industry trends, future acquisitions, competitive conditions, and government regulations, including changes in tax regulations and rates and the manner in which the earnings of publicly traded partnerships are taxed. We caution readers to carefully consider such factors. Further, such forward-looking statements speak only as of the date on which such statements are made; we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. For further information regarding these forward-looking statements and the factors that could cause actual results to differ, see "Risk Factors" in Item 1A and "Cautions Regarding Forward-Looking Statements" in Item 7 of our Form 10-K for the year ended December 31, 2008. Any or all of the forward-looking statements that we make in this news release, Form 10-K, other documents we file with or furnish to the SEC, and any other public statements we issue, may turn out to be wrong. It is important to remember that other factors besides those listed in "Risk Factors" and "Cautions Regarding Forward-Looking Statements", and those listed above, could also adversely affect our revenues, financial condition, results of operations and business prospects.

SOURCE AllianceBernstein L.P.

CONTACT:
Philip Talamo,
Investor Relations,
+1-212-969-2383,
ir@alliancebernstein.com,
or John Meyers,
Media,
+1-212-969-2301,
john.meyers@alliancebernstein.com,
both of AllianceBernstein
(AB)