NEW YORK, Jan. 29, 2013 /PRNewswire/ -- Alliance California Municipal Income Fund, Inc. (NYSE: AKP) (the "Fund") today released its monthly portfolio update as of December 31, 2012. 


              Alliance California Municipal Income Fund, Inc.

    Top 10 Fixed-Income Holdings
                                                          Portfolio %

    1) Los Angeles CA Wstwtr Sys  5.00%,
     6/01/26                                                     4.52%
    2) San Francisco City/Cnty CA Pub
     Util Wtr                                                    4.46%
    Series 2012C  5.00%,  11/01/26
    3) Los Angeles Cnty CA Met Trnsp Auth
     (Los                                                        3.80%
    Angeles Cnty Ca Mta Sales Tax)
     5.00%,
    7/01/25
    4) California Pub Wks Brd (Univ Of
     California                                                  3.52%
    Lease)  Series 2011A  5.25%,
     12/01/26
    5) Los Angeles CA Cmnty Redev Agy
     (Los Angeles Ca                                             3.18%
    Cra Grand Ctrl) AMBAC Series 02
     5.375%,
    12/01/26
    6) Los Angeles CA Harbor Dept
     5.00%,  8/01/26                                             3.16%
    7) Port of Oakland CA   Series 2012P
     5.00%,                                                      2.89%
    5/01/29
    8) Puerto Rico Sales Tax Fin Corp.
     Series 2011A                                                2.87%
    5.00%,  8/01/43
    9) Clovis CA USD GO   Series 2012A
     5.00%,                                                      2.51%
    8/01/28
    10) San Diego Cnty CA Regl Trnsp
     Commn   Series                                              2.48%
    2012A  5.00%,  4/01/28



    Sector/Industry Breakdown
                                       Portfolio %
    Revenue
      Water & Sewer                          15.30%
      Electric Utility                        8.00%
      Port                                    6.05%
      Revenue - Miscellaneous                 5.77%
      Higher Education - Public               3.52%
      Airport                                 2.59%
      Higher Education - Private              2.39%
      Primary/Secondary Ed. - Private         1.54%
      Health Care - Not-for-Profit            1.34%
      Industrial Development - Utility        0.19%

    SUBTOTAL                                 46.69%
    Tax Supported
      Special Tax                            22.13%
      Local G.O.                             10.14%
      Tax-Supported Local Lease               3.45%
      State G.O.                              2.09%
      Assessment District                     2.02%
      Tax-Supported State Lease               1.77%
    SUBTOTAL                                 41.60%
    Insured/Guaranteed
      Insured                                 6.63%
    SUBTOTAL                                  6.63%
    Asset-Backed
      Housing - Multi-Family                  2.76%
    SUBTOTAL                                  2.76%
    Prerefunded/ETM                           2.32%
    Total                                   100.00%



    State Breakdown
                      Portfolio %
    California              93.33%
    Puerto Rico              4.40%
    Nevada                   1.05%
    Guam                     1.03%
    Ohio                     0.19%
    Total Investments      100.00%



    Credit Quality Breakdown
                             Portfolio %
        AAA                        15.17%
        AA                         51.98%
        A                          20.14%
        BBB                         5.87%
        BB                          1.45%
        Not Rated                   3.07%
        Pre-refunded Bonds          2.32%
        Total Investments         100.00%



    Bonds By Maturity
                            Portfolio %
         Less than 1 year          1.81%
         1 to 5 years              0.76%
         5 to 10 years             8.15%
         10 to 20 years           77.49%
         20 to 30 years            8.75%
         More than 30 years        3.04%
         Other                     0.00%
         Total Investments       100.00%



    Portfolio Statistics:
      AMT Percentage:                                        13.58%
      Average Coupon:                                         5.39%
      Percentage of Leverage:
        Bank Borrowing:                                       0.00%
        Investment Operations:                                1.01%
        Preferred Stock:                                     36.01%
        Tender Option Bonds:                                  4.19%
        Term Asset-Backed Loans Facility (TALF):              0.00%
        Total Fund Leverage:                               41.21%*
      Average Effective Maturity:                       6.28 Years
      Effective Duration:                               5.71 Years
      Total Net Assets:                          $201.48 Million**
      Common Stock Net Asset Value:                         $15.07
      Number of Holdings:                                       78
      Portfolio Turnover:                                       46%

* The total percentage of leverage constitutes 4.19% through the use of tender option bonds, 36.01% in issued and outstanding preferred stock and 1.01% 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.

** Includes 72,550,000 of preferred stock at liquidation value.

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 AllianceBernstein L. P.

SOURCE Alliance California Municipal Income Fund, Inc.