SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM N-PX

                     ANNUAL REPORT OF PROXY VOTING RECORD OF
                   REGISTERED MANAGEMENT INVESTMENT COMPANIES


                Investment Company Act file number: 811-08294

                       AllianceBernstein Exchange Reserves
               (Exact name of registrant as specified in charter)

                             AllianceBernstein L.P.
              1345 Avenue of the Americas, New York, New York l0105
               (Address of Principal Executive Office) (Zip Code)

               Registrant's Telephone Number, including Area Code:
                                 (800) 221-5672


                                EMILIE D. WRAPP
                             AllianceBernstein L.P.
                           1345 Avenue of the Americas
                            New York, New York l0105
                     (Name and address of agent for service)

                          Copies of communications to:
                               Kathleen K. Clarke
                               Seward & Kissel LLP
                               1200 G Street, N.W.
                             Washington, D.C. 20005


                      Date of fiscal year end:  September 30

             Date of reporting period: July 1, 2010 - June 30, 2011





Item 1.  Proxy Voting Record.


******************************* FORM N-PX REPORT *******************************

ICA File Number: 811-08294
Reporting Period: 07/01/2010 - 06/30/2011
AllianceBernstein Exchange Reserves




===================== ALLIANCEBERNSTEIN EXCHANGE RESERVES ======================




     The registrant did not receive any proxy solicitations relating to its
portfolio securities and, therefore, did not vote any proxies during the
reporting period.


================================ END NP-X REPORT ===============================









                                   SIGNATURES

     Pursuant to the requirements of the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


                              Registrant:  AllianceBernstein Exchange Reserves



                              By: Robert M. Keith*
                                  -----------------------
                                  Chief Executive Officer



                              Date:  August 30, 2011



*By: /s/ Emilie D. Wrapp
     -------------------
         Emilie D. Wrapp
         Secretary