AllianceBernstein Global High Income Fund Releases Monthly Portfolio Update

AllianceBernstein Global High Income Fund

As of: 4/30/2010

Top 10 Fixed-Income Holdings

Portfolio %

1) Republic of Brazil 12.50%, 1/05/16 - 1/05/22

2.48%

2) RSHB Capital SA for OJSC Russian

1.42%

    Agricultural Bank 7.75%, 5/29/18

3) Argentina Bonos 7.00%, 10/03/15

1.25%

4) Republic of Colombia 7.375%, 1/27/17 -

1.19%

    9/18/37

5) Republic of Philippines 9.875%, 1/15/19

1.09%

6) RSHB Capital SA for OJSC Russian

0.99%

   Agricultural Bank 6.299%, 5/15/17

7) Citibank Omni Master Trust Series 2009-A14A,

0.98%

   Class A14 3.004%, 8/15/18

8) Republic of Indonesia 6.875%, 1/17/18

0.92%

9) Gaz Capital SA 6.51%, 3/07/22

0.90%

10) Republic of Colombia 12.00%, 10/22/15

0.89%

Security Type Breakdown

Portfolio %

Corporates - Non-Investment Grades:

 Industrial:

         Basic

5.74%

         Consumer Non-Cyclical

4.34%

         Communications - Media

3.81%

         Consumer Cyclical - Other

3.78%

         Capital Goods

3.73%

         Energy

2.84%

         Communications - Telecommunications

2.44%

         Technology

2.23%

         Consumer Cyclical - Retailers

2.18%

         Consumer Cyclical - Automotive

1.59%

         Services

1.29%

         Transportation - Services

0.69%

         Other Industrial

0.54%

         Transportation - Airlines

0.43%

         Consumer Cyclical - Restaurants

0.22%

         Consumer Cyclical - Entertainment

0.16%

         Transportation - Railroads

0.12%

       SUBTOTAL

36.13%

         Financial Institutions:

         Banking

1.88%

         Finance

1.52%

         Insurance

1.03%

         Brokerage

0.34%

         Other Finance

0.10%

       SUBTOTAL

4.87%

       Utility:

         Electric

1.98%

         Natural Gas

0.56%

       SUBTOTAL

2.54%

       Credit Default Index Holdings:

         DJ CDX.NA.HY-100

0.48%

       SUBTOTAL

0.48%

    SUBTOTAL

44.02%

    Emerging Markets - Sovereigns

15.70%

    Corporates - Investment Grades:

       Industrial:

         Basic

1.28%

         Energy

0.50%

         Other Industrial

0.33%

         Communications - Telecommunications

0.31%

         Capital Goods

0.27%

         Consumer Non-Cyclical

0.17%

         Technology

0.17%

         Services

0.16%

         Consumer Cyclical - Retailers

0.12%

         Transportation - Airlines

0.08%

       SUBTOTAL

3.39%

       Financial Institutions:

         Banking

1.27%

<span class="prnews_span">          Insurance

1.13%

         Finance

0.35%

         Other Finance

0.25%

       SUBTOTAL

3.00%

       Non Corporate Sectors:

         Agencies - Not Government Guaranteed

2.20%

       SUBTOTAL

2.20%

       Utility:

         Electric

0.13%

       SUBTOTAL

0.13%

    SUBTOTAL

8.72%

    Commercial Mortgage-Backed Securities:

       Non-Agency Fixed Rate CMBS

6.65%

    Quasi-Sovereigns:

       Quasi-Sovereign Bonds

6.16%

    Governments - Treasuries:

       Treasuries

4.47%

    Governments - Sovereign Bonds

3.56%

    Bank Loans:

       Industrial:

         Communications - Media

0.46%

         Capital Goods

0.37%

         Consumer Cyclical - Automotive

0.22%

         Technology

0.19%

         Services

0.19%

         Basic

0.17%

         Consumer Cyclical - Other

0.13%

         Consumer Cyclical - Retailers

0.11%

         Consumer Non-Cyclical

0.06%

         Energy

0.06%

         Other Industrial

0.02%

       SUBTOTAL

1.98%

       Financial Institutions:

         Finance

0.18%

         REITS

0.11%

         Insurance

0.02%

       SUBTOTAL

0.31%

       Utility:

         Electric

0.19%

       SUBTOTAL

0.19%

    SUBTOTAL

2.48%

    Emerging Markets - Corporate Bonds:

       Industrial:

         Basic

0.34%

         Communications - Media

0.33%

         Consumer Cyclical - Retailers

0.19%

         Other Industrial

0.14%

         Energy

0.13%

         Consumer Non-Cyclical

0.09%

       SUBTOTAL

1.22%

       Financial Institutions:

         Banking

0.63%

         Other Finance

0.45%

       SUBTOTAL

1.08%

    SUBTOTAL

2.30%

    Asset-Backed Securities:

       Credit Cards - Floating Rate

0.98%

       Home Equity Loans - Fixed Rate

0.49%

       Home Equity Loans - Floating Rate

0.09%

    SUBTOTAL

1.56%

    Emerging Markets - Treasuries

1.34%

    CMOs:

       Non-Agency Fixed Rate

0.47%

       Non-Agency Floating Rate

0.46%

       Non-Agency ARMS

0.33%

    SUBTOTAL

1.26%

    Equities:

       Common Stock

0.46%

       Warrants

0.01%

    SUBTOTAL

0.47%

    Inflation-Linked Securities

0.34%

    Local Governments - Regional Bonds

0.32%

    Preferred Stocks:

       Financial Institutions

0.19%

       Non Corporate Sectors

0.01%

    SUBTOTAL

0.20%

    Local Governments - Municipal Bonds

0.15%

    Supranationals

0.13%

    Governments - Sovereign Agencies

0.10%

    Short-Term Investments:

       Investment Companies

0.07%

    Total

100.00%

Country Breakdown

Portfolio %

United States

51.83%

           Russia

7.50%

           Brazil

6.08%

           Indonesia

3.42%

           Colombia

2.81%

           Kazakhstan

2.10%

           United Kingdom

2.03%

           Venezuela

1.85%

           Argentina

1.73%

           Philippines

1.64%

           Ukraine

1.62%

           South Africa

1.37%

           Uruguay

1.32%

           Turkey

1.23%

           Peru

1.21%

           Canada

1.12%

           El Salvador

1.09%

           Dominican Republic

0.99%

           Hungary

0.95%

           Netherlands

0.93%

           Panama

0.92%

           Ireland

0.75%

           Germany

0.52%

           Lithuania

0.43%

           Egypt

0.37%

           India

0.35%

           Hong Kong

0.33%

           Barbados

0.33%

           Ghana

0.32%

           Iceland

0.29%

           France

0.28%

           Croatia

0.26%

           Czech Republic

0.24%

           Gabon

0.20%

           Bermuda

0.19%

           Italy

0.15%

           Trinidad And Tobago

0.14%

           Luxembourg

0.13%

           Supranational

0.13%

           Serbia & Montenegro

0.13%

           Cayman Islands

0.13%

           Norway

0.12%

           Australia

0.10%

           Japan

0.09%

           Poland

0.09%

           Switzerland

0.09%

           Jamaica

0.04%

           Denmark

0.04%

           Costa Rica

0.01%

           Belgium

0.01%

           Total

100.00%

            Credit Quality Breakdown

Portfolio %

               AAA

6.43%

               AA

1.03%

               A

3.23%

               BBB

23.97%

               BB</span>

27.40%

               B

26.42%

               CCC

10.71%

               CC

0.24%

               C

0.08%

               D

0.42%

               A-1+

0.07%

               Total Investments

100.00%

    Portfolio Statistics:

         Percentage of Leverage:

           Bank Borrowing:

0.00%

           Investment Operations:

14.80%*

           Preferred Stock:

0.00%

           Tender Option Bonds:

0.00%

           Term Asset-Backed Loans

              Facility (TALF):

93%

         Total:

15.73%

           Avg. Maturity:

8.62 Years

         Effective Duration:

5.66 Years

         Total Net Assets:

$1,255.7 Million

         Net Asset Value:

$14.74

         Number of Holdings:

718