Hallie Elsner, Investors 212.969.6943 hallie.elsner@alliancebernstein.com Jen Will, Media 212.969.1157 jen.will@alliancebernstein.com

AB Announces July 31, 2019 Assets Under Management

New York, NY, August 12, 2019 - AllianceBernstein L.P. (“AB”) and AllianceBernstein Holding L.P. (“AB Holding”) (NYSE: AB) today announced that preliminary assets under management increased to $585 billion during July 2019 from $581 billion at the end of June. The 0.7% increase was due to market appreciation, as well as total firmwide net inflows. By channel, Retail net inflows were partially offset by outflows from Institutions and Private Wealth.

AllianceBernstein L.P. (The Operating Partnership)
Assets Under Management ($ in Billions)
	At July 31, 2019								At June 30
									2019
					Private
	Institutions		Retail		Wealth		Total		Total
Equity
Actively Managed	$	40	$	74	$	49	$	163	$	162
Passive	25		33		—		58		57
Total Equity	65		107		49		221		219
Fixed Income
Taxable	153		78		12		243		241
Tax-Exempt	1		19		25		45		44
Passive	—		9		—		9		10
Total Fixed Income	154		106		37		297		295
Other(1)	50		5		12		67		67
Total	$	269	$	218	$	98	$	585	$	581
	At June 30, 2019
Total	$	269	$	215	$	97	$	581
(1) Includes certain multi-asset services and solutions and certain alternative investments.

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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 current and proposed government regulations, including changes in tax regulations and rates and the manner in which the earnings of publicly-traded partnerships are taxed. AB cautions readers to carefully consider such factors. Further, such forward-looking statements speak only as of the date on which such statements are made; AB undertakes 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” and “Cautions Regarding Forward-Looking Statements” in AB’s Form 10-K for the year ended December 31, 2018 or subsequent Forms 10-Q. Any or all of the forward-looking statements made in this news release, Form 10-K, Form 10-Q, other documents AB files with or furnishes to the SEC and any other public statements issued by AB, 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 AB’s financial condition, results of operations and business prospects.

About AllianceBernstein

AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets.

As of June 30, 2019, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 35.6% of AllianceBernstein and AXA Equitable Holdings, Inc. ("EQH"), directly and through various subsidiaries, owned an approximate 65.2% economic interest in AllianceBernstein.

Additional information about AB may be found on our website, www.alliancebernstein.com.

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