ex99_01.htm

EXHIBIT 99.01

Philip Talamo, Investor Relations

212.969.2383

ir@alliancebernstein.com

John Meyers, Media

212.969.2301

pr@alliancebernstein.com

News Release

AllianceBernstein Holding L.P. Announces Fourth Quarter Diluted Net Income of $1.06 per Unit and Declares a $1.06 per Unit Cash Distribution

New York, NY, January 23, 2008– AllianceBernstein Holding L.P. (“AllianceBernstein Holding”) (NYSE: AB) and AllianceBernstein L.P. (“AllianceBernstein”) today reported financial and operating results for the quarter and full year ended December 31, 2007.

AllianceBernstein Holding (The Publicly Traded Partnership):

Diluted net income per Unit for the quarter ended December 31, 2007 was $1.06, a decrease of 17% from $1.27 for the same period in 2006. Diluted net income per Unit for the full year 2007 was $4.32, an increase of 13% from $3.82 in 2006.

Distribution per Unit for the fourth quarter of 2007 will be $1.06, a decrease of 28% from $1.48 for the same period in 2006. The distribution is payable on February 14, 2008 to holders of record of AllianceBernstein Holding Units at the close of business on February 4, 2008.

AllianceBernstein (The Operating Partnership):

Assets Under Management (AUM) at December 31, 2007 were $800 billion, a 12% increase from a year ago, due to market appreciation and net inflows across all distribution channels.

Net inflows for the three months ended December 31, 2007 were $8.5 billion, consisting of Institutional Investments net inflows of $8.8 billion, Private Client net inflows of $1.1 billion and Retail net outflows of $1.4 billion.

Net inflows for the twelve months ended December 31, 2007 were $32.2 billion, consisting of Institutional Investments net inflows of $17.7 billion, Private Client net inflows of $8.6 billion and Retail net inflows of $5.9 billion.

“Investment results for clients were mixed in 2007, amid considerable market turbulence. Our growth equity services delivered strong total returns and exceeded institutional benchmarks in all geographies and capitalization categories. Value equity services, in contrast, had a difficult year, with returns falling below benchmarks, an effect compounded by increasing pressure on this style of equity management in the second half. Global fixed income results were respectable; however, mandates which focused on corporate and mortgage credit generally underperformed. Our weakest returns were in our diversified hedge fund services, which performed poorly as risk premiums rose sharply in all segments of the capital markets in the second half,” said Lewis Sanders, Chairman and Chief Executive Officer.

“The benefits of our broadly diversified product range by asset class, geography and style were made clear in 2007, as investment returns across all investment services averaged about 7% for the year as a whole.

“Growth in assets under management from net inflows equaled 4% for the full year, and was at a similar annual rate in the fourth quarter. Institutional inflows strengthened during the fourth quarter as compared to the pace earlier in the year. However, retail flows turned modestly negative due to weakness in non-U.S. markets. Private client flows also slowed from their very strong pace earlier in 2007, in part owing to seasonal factors but also to a reduction in hedge fund flows. The backlog of unfunded institutional mandates ended the year at a solid level, increasing somewhat during the fourth quarter.

“Institutional research services achieved record results, with revenue rising by 13% for the full year and 33% for the fourth quarter. Revenue growth was particularly rapid in our London-based operations, with U.S. growth accelerating as well in the fourth quarter.

“Financial results for the firm overall were disappointing as compared to our initial expectations. Full year earnings rose by 13% to $4.32 per unit on a similar revenue gain. An extremely sharp decline in hedge fund-related performance fees along with substantial net mark-to-market losses in investments held for deferred employee compensation plans were primarily responsible for this result, as all other aspects of the firm’s results generally met expectations. These two factors caused fourth quarter revenue to decline slightly versus last year’s comparable quarter, despite a 21% gain in base fees. The resulting pressure on margins caused fourth quarter earnings to fall to $1.06 per Unit versus $1.27 per Unit in 2006’s fourth quarter. The decline was even greater if last year’s earnings are adjusted to exclude a $0.21 per Unit charge for the estimated cost of reimbursing certain clients for a claims processing error.

“As the firm’s financial dynamics are now well understood, especially its sensitivity to performance fees and related seasonality, we no longer believe it necessary to provide earnings guidance. It is important to emphasize, however, that the firm’s earnings are highly sensitive to capital market conditions, which have been quite hostile thus far in 2008. Moreover, a recovery in performance fees will be affected by the need to overcome high water marks in some of our hedge funds.

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“Capital market turbulence is unsettling. But it brings with it a dramatic widening in risk premiums, which provides the basis for strong absolute and relative investment returns. It is our objective to turn these conditions to the advantage of our clients. As ever, if we achieve this goal, the firm’s growth and profitability will benefit as well,” concluded Mr. Sanders.

CONFERENCE CALL INFORMATION RELATING TO FOURTH QUARTER 2007 RESULTS

JANUARY 23, 2008 AT 5:00 P.M. (Eastern Standard Time)

AllianceBernstein’s management will review fourth quarter 2007 financial and operating results on Wednesday, January 23, 2008, during a conference call beginning at 5:00 p.m. (EST), following the release of its financial results after the close of the New York Stock Exchange. The conference call will be hosted by Lewis A. Sanders, Chairman and Chief Executive Officer, and Gerald M. Lieberman, President and Chief Operating Officer.

Parties may access the conference call by either webcast or telephone:

To listen by webcast, please visit AllianceBernstein’s Investor Relations website at http://ir.alliancebernstein.com/investorrelations at least fifteen minutes prior to the call to download and install any necessary audio software.

To listen by telephone, please dial (866) 556-2265 in the U.S./Canada or (973) 935-8521 outside the U.S./Canada, 10 minutes before the 5:00 p.m.(EST) scheduled start time. The conference ID# is 30362328.

The presentation that will be reviewed during the conference call is expected to be available on AllianceBernstein’s Investor Relations website shortly after the release of fourth quarter 2007 financial results on January 23, 2008.

An audio replay of the conference call will be made available beginning at approximately 7:00 p.m. (EST) on January 23, 2008 and will be available for one week. To access the audio replay, please call (800) 642-1687 from the U.S., or outside the U.S., call (706) 645-9291, and provide the conference ID# 30362328. The replay will also be available via webcast on AllianceBernstein’s website for one week.

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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 in-depth, fundamental, independent research, plus portfolio strategies, trading and brokerage-related services to its institutional investor clients.

At December 31, 2007, AllianceBernstein Holding L.P. (“Holding”) owned approximately 33.4% of the issued and outstanding AllianceBernstein Units. AXA Financial was the beneficial owner of approximately 62.8% of the AllianceBernstein Units at December 31, 2007 (including those held indirectly through its ownership of approximately 1.7% of the issued and outstanding Holding Units) which, including the general partnership interests in AllianceBernstein and Holding, represent an approximate 63.2% 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 in this news release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These 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 we achieve for our clients, general economic conditions, future acquisitions, competitive conditions, and government regulations, including changes in tax rates. We caution readers to carefully consider our forward-looking statements in light of these factors. Further, these 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 subsequent events or circumstances. For further information regarding these forward-looking statements and the factors that could cause actual results to differ, see “Risk Factors” in Item 1A of Form 10-K for the year ended December 31, 2006 and in Part II, Item 1A of Form 10-Q for the quarter ended September 30, 2007. Any or all of the forward-looking statements that we make in Form 10-K, Form 10-Q, this news release, or any other public statements we issue may turn out to be wrong. Of course, factors other than those listed in “Risk Factors” could also adversely affect our revenues, financial condition, results of operations, and business prospects.

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ALLIANCEBERNSTEIN L.P.

(THE OPERATING PARTNERSHIP)

SUMMARY CONSOLIDATED STATEMENTS OF INCOME

DECEMBER 31, 2007

(unaudited, $ thousands)

	Three Months Ended						Twelve Months Ended
	12/31/07			12/31/06			12/31/07			12/31/06
Revenues:
Investment Advisory & Services Fees	$	895,227		$	895,383		$	3,386,188		$	2,890,229
Distribution Revenues		121,997			109,949			473,435			421,045
Institutional Research Services		118,198			88,769			423,553			375,075
Dividend and Interest Income		72,972			86,050			284,014			266,520
Investment Gains (Losses)		(40,284	)		27,483			29,690			62,200
Other Revenues		31,668			29,311			122,869			123,171
Total Revenues		1,199,778			1,236,945			4,719,749			4,138,240
Less: Interest Expense		30,392			50,247			194,432			187,833
Net Revenues		1,169,386			1,186,698			4,525,317			3,950,407

Expenses:
Employee Compensation & Benefits		470,446			427,845			1,833,796			1,547,627
Promotion & Servicing:
Distribution Plan Payments		86,378			77,632			335,132			292,886
Amortization of Deferred Sales Commissions		22,228			28,721			95,481			100,370
Other		69,856			57,359			252,468			218,944
General & Administrative(1)		164,721			196,975			591,221			583,296
Interest on Borrowings		3,486			2,905			23,970			23,124
Amortization of Intangible Assets		5,179			5,178			20,716			20,710
		822,294			796,615			3,152,784			2,786,957

Operating Income		347,092			390,083			1,372,533			1,163,450
Non-Operating Income		4,190			3,903			15,756			20,196

Income before Income Taxes		351,282			393,986			1,388,289			1,183,646

Income Taxes		41,550			27,034			127,845			75,045

NET INCOME	$	309,732		$	366,952		$	1,260,444		$	1,108,601

Operating Income Margin		29.7	%		32.9	%		30.3	%		29.5	%

(1) 4Q06 and full year 2006 General & Administrative expenses include a $56 million claims processing error charge ($54.5 million, net of related income tax benefits).

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ALLIANCEBERNSTEIN HOLDING L.P.

(THE PUBLICLY TRADED PARTNERSHIP)

SUMMARY STATEMENTS OF INCOME

(unaudited, $ thousands except per unit amounts)

	Three Months Ended				Twelve Months Ended
	12/31/07		12/31/06		12/31/07		12/31/06

Equity in Earnings of Operating Partnership	$	102,299	$	119,763	$	415,256	$	359,469

Income Taxes		10,147		10,334		39,104		34,473

NET INCOME		92,152		109,429		376,152		324,996

Additional Equity in Earnings of Operating Partnership(1)		898		1,894		5,146		5,430

NET INCOME - Diluted(2)	$	93,050	$	111,323	$	381,298	$	330,426

DILUTED NET INCOME PER UNIT	$	1.06	$	1.27	$	4.32	$	3.82

DISTRIBUTION PER UNIT	$	1.06	$	1.48	$	4.33	$	4.02

(1) To reflect higher ownership in the Operating Partnership resulting from application of the treasury stock method to outstanding options.

(2) For calculation of Diluted Net Income per Unit.

(3) 4Q06 and full year 2006 Diluted Net Income per Unit include a $0.21 and $0.20 per Unit claims processing error charge, respectively.

ALLIANCEBERNSTEIN AND ALLIANCEBERNSTEIN HOLDING

UNITS OUTSTANDING AND WEIGHTED AVERAGE UNITS OUTSTANDING

DECEMBER 31, 2007

			Weighted Average Units				Weighted Average Units
			Three Months Ended				Twelve Months Ended
	Period End
	Units		Basic		Diluted		Basic		Diluted

AllianceBernstein		260,341,992		260,209,684		261,478,350		259,853,947		261,660,628

AllianceBernstein Holding		86,948,149		86,815,841		88,084,507		86,460,104		88,266,785

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ALLIANCEBERNSTEIN L.P.

ASSETS UNDER MANAGEMENT

THREE MONTHS ENDED DECEMBER 31, 2007

($ millions)

	Institutional						Private
	Investments			Retail			Client			Total

Beginning of Period(1)	$	513,348		$	189,360		$	110,633		$	813,341

Sales/New accounts		18,123			10,038			3,480			31,641
Redemptions/Terminations		(5,031	)		(9,273	)		(1,262	)		(15,566	)
Cash flow		(4,330	)		(1,585	)		(987	)		(6,902	)
Unreinvested dividends		-			(541	)		(180	)		(721	)
Net inflows/(outflows)		8,762			(1,361	)		1,051			8,452

Transfers(2)		(203	)		(57	)		260			-

Market depreciation		(13,826	)		(4,777	)		(2,800	)		(21,403	)

End of Period	$	508,081		$	183,165		$	109,144		$	800,390

(1) Prior period AUM has been increased by $573 million to reflect the assets associated with existing services previously not included.

(2) Transfers of certain client accounts were made among distribution channels resulting from changes in how these accounts are serviced by the firm.

ALLIANCEBERNSTEIN L.P.

ASSETS UNDER MANAGEMENT

TWELVE MONTHS ENDED DECEMBER 31, 2007

($ millions)

	Institutional						Private
	Investments			Retail			Client			Total

Beginning of Period(1)	$	455,095		$	166,928		$	94,898		$	716,921

Sales/New accounts		70,744			46,211			18,287			135,242
Redemptions/Terminations		(33,231	)		(37,001	)		(4,486	)		(74,718	)
Cash flow		(19,848	)		(2,057	)		(4,672	)		(26,577	)
Unreinvested dividends		(1	)		(1,286	)		(497	)		(1,784	)
Net inflows		17,664			5,867			8,632			32,163

Transfers(2)		(144	)		(552	)		696			-

Market appreciation		35,466			10,922			4,918			51,306

End of Period	$	508,081		$	183,165		$	109,144		$	800,390

(1) Prior period AUM has been increased by $26 million to reflect the assets associated with existing services previously not included.

(2) Transfers of certain client accounts were made among distribution channels resulting from changes in how these accounts are serviced by the firm.

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ALLIANCEBERNSTEIN L.P.

ASSETS UNDER MANAGEMENT

BY INVESTMENT SERVICE

AT DECEMBER 31, 2007

($ millions)

	Institutional				Private
	Investments		Retail		Client		Total
Equity:
Value
U.S.	$	49,235	$	33,488	$	25,259	$	107,982
Global & International		192,472		56,560		25,497		274,529
		241,707		90,048		50,756		382,511
Growth
U.S.		31,908		24,637		16,004		72,549
Global & International		88,691		23,530		12,175		124,396
		120,599		48,167		28,179		196,945

Total Equity		362,306		138,215		78,935		579,456

Fixed Income:
U.S.		73,240		10,627		29,498		113,365
Global & International		53,978		29,855		676		84,509
		127,218		40,482		30,174		197,874

Index/Structured:
U.S.		12,426		4,468		25		16,919
Global & International		6,131		-		10		6,141
		18,557		4,468		35		23,060

Total:
U.S.		166,809		73,220		70,786		310,815
Global & International		341,272		109,945		38,358		489,575
	$	508,081	$	183,165	$	109,144	$	800,390

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ALLIANCEBERNSTEIN L.P.

ASSETS UNDER MANAGEMENT

($ millions)

	Three Month Period				Twelve Month Period
	12/31/07		12/31/06(1)		12/31/07		12/31/06(1)

Ending Assets Under Management	$	800,390	$	716,921	$	800,390	$	716,921

Average Assets Under Management	$	814,495	$	689,231	$	776,368	$	640,968

(1) Prior period AUM has been increased by $26 million to reflect the assets associated with existing services previously not included.

ALLIANCEBERNSTEIN L.P.

ASSETS UNDER MANAGEMENT

BY CLIENT DOMICILE

AT DECEMBER 31, 2007

($ millions)

	Institutional Investments		Retail		Private Client		Total

U. S. Clients	$	239,131	$	139,250	$	105,344	$	483,725
Non-U.S. Clients		268,950		43,915		3,800		316,665
	$	508,081	$	183,165	$	109,144	$	800,390

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