SOURCE: Stull, Stull & Brody

April 10, 2006 10:16 ET

Stull, Stull & Brody Announces Class Action Against American International Group, Inc. on Behalf of Purchasers of AllianceBernstein Mutual Funds

NEW YORK, NY -- (MARKET WIRE) -- April 10, 2006 --Notice is hereby given that a class action lawsuit was filed on April 7, 2006 in the United States District Court for the Eastern District of New York against American International Group, Inc. and certain of its affiliates, on behalf of those who purchased AllianceBernstein mutual funds from the AIG Advisor Group (as defined below) during the period between June 30, 2000 and June 8, 2005, inclusive (the "Class Period").

During the Class Period, the AIG Advisor Group consisted of the following broker-dealers: Royal Alliance, Inc., SunAmerica Securities, Inc., FSC Securities Corp., Sentra Securities Corporation, Spelman & Co., Inc., and Advantage Capital Corp.

If you purchased AllianceBernstein mutual funds or any funds participating in the AIG Advisor Group revenue sharing programs ("Shelf-Space Funds," as defined below) through an AIG Advisor Group broker-dealer between June 30, 2000 and June 8, 2005, inclusive, and sustained damages, you may, no later than June 6, 2006, file a motion with the Court requesting to be appointed as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class members' claim is typical of the claims of other class members, and that the class member is most capable of adequately representing the interests of the other class members. Under certain circumstances, more than one class member may serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action. Stull, Stull & Brody has litigated many class actions for violations of securities laws in federal courts over the past 30 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody maintains offices in both New York and Los Angeles.

The AllianceBernstein mutual funds and their respective symbols are as follows:

AllianceBernstein All-Asia Investment Fund (NASDAQ: AALAX) (NASDAQ: AAABX)
 (NASDAQ: AAACX)
AllianceBernstein Americas Government Income Trust (NASDAQ: ANAGX)
 (NASDAQ: ANABX) (NASDAQ: ANACX)
AllianceBernstein Balanced Shares (NASDAQ: CABNX) (NASDAQ: CABBX)
 (NASDAQ: CBACX)
AllianceBernstein Blended Style Series -- U.S. Large Cap Portfolio
 (NASDAQ: ABBAX) (NASDAQ: ABBAX) (NASDAQ: ABBCX)
AllianceBernstein Bond Fund Corporate Bond Portfolio (NASDAQ: CBFAX)
 (NASDAQ: CBFBX) (NASDAQ: CBFCX)
AllianceBernstein Bond Fund Quality Bond Portfolio (NASDAQ: ABQUX)
 (NASDAQ: ABQBX) (NASDAQ: ABQCX)
AllianceBernstein Bond Fund U.S. Government Portfolio (NASDAQ: ABUSX)
 (NASDAQ: ABUBX) (NASDAQ: ABUCX)
AllianceBernstein Disciplined Value Fund (NASDAQ: ADGAX) (NASDAQ: ADGBX)
 (NASDAQ: ADGCX)
AllianceBernstein Disciplined Value Fund (NASDAQ: ADGAX) (NASDAQ: ADGBX)
 (NASDAQ: ADGCX)
AllianceBernstein Emerging Market Debt Fund (NASDAQ: AGDAX) (NASDAQ: AGDBX)
 (NASDAQ: AGDCX)
AllianceBernstein Global Small Cap Fund (NASDAQ: GSCAX) (NASDAQ: AGCBX)
 (NASDAQ: GSCCX)
AllianceBernstein Global Strategic Income Trust (NASDAQ: AGSAX)
 (NASDAQ: AGSBX) (NASDAQ: AGCCX)
AllianceBernstein Global Value Fund (NASDAQ: ABAGX) (NASDAQ: ABBGX)
 (NASDAQ: ABCGX)
AllianceBernstein Global Value Fund (NASDAQ: ABAGX) (NASDAQ: ABBGX)
 (NASDAQ: ABCGX)
AllianceBernstein Greater China '97 Fund (NASDAQ: GCHAX) (NASDAQ: GCHBX)
 (NASDAQ: GCHCX)
AllianceBernstein Growth & Income Fund (NASDAQ: CABDX) (NASDAQ: CBBDX)
 (NASDAQ: CBBCX)
AllianceBernstein Growth Fund (NASDAQ: AGRFX) (NASDAQ: AGBBX)
 (NASDAQ: AGRCX)
AllianceBernstein Health Care Fund (NASDAQ: AHLAX) (NASDAQ: CBBDX)
 (NASDAQ: CBBCX)
AllianceBernstein High Yield Fund (NASDAQ: AHYAX) (NASDAQ: AHHBX)
 (NASDAQ: AHHCX)
AllianceBernstein Intermediate California Muni Portfolio (NASDAQ: AICBX)
 (NASDAQ: ACLBX) (NASDAQ: ACMCX)
AllianceBernstein Intermediate Diversified Muni Portfolio (NASDAQ: AIDAX)
 (NASDAQ: AIDBX) (NASDAQ: AIMCX)
AllianceBernstein Intermediate New York Muni Portfolio:(NASDAQ: ANIAX)
 (NASDAQ: ANYBX) (NASDAQ: ANMCX)
AllianceBernstein International Premier Growth Fund (NASDAQ: AIPAX)
 (NASDAQ: AIPBX) (NASDAQ: AIPCX)
AllianceBernstein International Value Fund (NASDAQ: ABIAX) (NASDAQ: ABIBX)
 (NASDAQ: ABICX)
AllianceBernstein International Value Fund (NASDAQ: ABIAX) (NASDAQ: ABIBX)
 (NASDAQ: ABICX)
AllianceBernstein Mid-Cap Growth (NASDAQ: CHCAX) (NASDAQ: CHCBX)
 (NASDAQ: CHCCX)
AllianceBernstein Multi-Market Strategy Trust (NASDAQ: AMMSX)
 (NASDAQ: AMMBX) (NASDAQ: AMMCX)
AllianceBernstein Muni Income Fund Arizona Portfolio (NASDAQ: AAZAX)
 (NASDAQ: AAZBX) (NASDAQ: AAZCX)
AllianceBernstein Muni Income Fund California Portfolio (NASDAQ: ALCAX)
 (NASDAQ: ALCBX) (NASDAQ: ACACX)
AllianceBernstein Muni Income Fund Florida Portfolio (NASDAQ: AFLAX)
 (NASDAQ: AFLBX) (NASDAQ: AFLCX)
AllianceBernstein Muni Income Fund Insured California Portfolio
 (NASDAQ: BUICX) (NASDAQ: BUIBX) (NASDAQ: BUCCX)
AllianceBernstein Muni Income Fund Insured National Portfolio
 (NASDAQ: CABTX) (NASDAQ: CBBBX) (NASDAQ: CACCX)
AllianceBernstein Muni Income Fund Massachusetts Portfolio (NASDAQ: AMAAX)
 (NASDAQ: AMABX)
AllianceBernstein Muni Income Fund Michigan Portfolio (NASDAQ: AMIAX)
 (NASDAQ: AMIBX) (NASDAQ: AMICX)
AllianceBernstein Muni Income Fund Minnesota Portfolio (NASDAQ: AMNAX)
 (NASDAQ: AMNBX) (NASDAQ: AMNCX)
AllianceBernstein Muni Income Fund National Portfolio (NASDAQ: ALTHX)
 (NASDAQ: ALTBX) (NASDAQ: ALNCX)
AllianceBernstein Muni Income Fund New Jersey Portfolio (NASDAQ: ANJAX)
 (NASDAQ: ANJBX) (NASDAQ: ANJCX)
AllianceBernstein Muni Income Fund New York Portfolio (NASDAQ: ALNYX)
 (NASDAQ: ALNBX) (NASDAQ: ANYCX)
AllianceBernstein Muni Income Fund Ohio Portfolio (NASDAQ: AOHAX)
 (NASDAQ: AOHBX) (NASDAQ: AOHCX)
AllianceBernstein Muni Income Fund Pennsylvania Portfolio (NASDAQ: APAAX)
 (NASDAQ: APABX) (NASDAQ: APACX)
AllianceBernstein Muni Income Fund Virginia Portfolio (NASDAQ: AVAAX)
 (NASDAQ: AVABX) (NASDAQ: AVACX)
AllianceBernstein New Europe Fund (NASDAQ: ANEAX) (NASDAQ: ANEBX)
 (NASDAQ: ANECX)
AllianceBernstein Premier Growth Fund (NASDAQ: APGAX) (NASDAQ: APGBX)
 (NASDAQ: APGCX)
AllianceBernstein Quasar Fund (NASDAQ: QUASX) (NASDAQ: QUABX)
 (NASDAQ: QUACX)
AllianceBernstein Real Estate Investment Fund (NASDAQ: AREAX)
 (NASDAQ: AREBX) (NASDAQ: ARECX)
AllianceBernstein Real Estate Investment Fund (NASDAQ: AREAX)
 (NASDAQ: AREBX) (NASDAQ: ARECX)
AllianceBernstein Select Investor Series Biotechnology Portfolio
 (NASDAQ: ASBAX) (NASDAQ: AIBBX) (NASDAQ: ASBCX)
AllianceBernstein Select Investor Series Biotechnology Portfolio
 (NASDAQ: ASBAX) (NASDAQ: AIBBX) (NASDAQ: ASBCX)
AllianceBernstein Select Investor Series Premier Portfolio (NASDAQ: ASPAX)
 (NASDAQ: ASPBX) (NASDAQ: ASPCX)
AllianceBernstein Select Investor Series Premier Portfolio (NASDAQ: ASPAX)
 (NASDAQ: ASPBX) (NASDAQ: ASPCX)
AllianceBernstein Select Investor Series Technology Portfolio
 (NASDAQ: AITAX) (NASDAQ: AITBX) (NASDAQ: AITCX)
AllianceBernstein Select Investor Series Technology Portfolio
 (NASDAQ: AITAX) (NASDAQ: AITBX) (NASDAQ: AITCX)
AllianceBernstein Short Duration (NASDAQ: ADPAX) (NASDAQ: ADPBX)
 (NASDAQ: ADPCX)
AllianceBernstein Small Cap Value Fund (NASDAQ: ABASX) (NASDAQ: ABBSX)
 (NASDAQ: ABCSX)
AllianceBernstein Small CapValue Fund (NASDAQ: ABASX) (NASDAQ: ABBSX)
 (NASDAQ: ABCSX)
AllianceBernstein Technology Fund (NASDAQ: ALTFX) (NASDAQ: ATEBX)
 (NASDAQ: ATECX)
AllianceBernstein Utility Income Fund (NASDAQ: AUIAX) (NASDAQ: AUIBX)
 (NASDAQ: AUICX)
AllianceBernstein Utility Income Fund (NASDAQ: AUIAX) (NASDAQ: AUIBX)
 (NASDAQ: AUICX)
AllianceBernstein Value Fund (NASDAQ: ABVAX) (NASDAQ: ABVBX)
 (NASDAQ: ABVCX)
AllianceBernstein Value Fund (NASDAQ: ABVAX) (NASDAQ: ABVBX)
 (NASDAQ: AVBCX)
AllianceBernstein Worldwide Privatization Fund (NASDAQ: AWPAX)
 (NASDAQ: AWPBX) (NASDAQ: AWPCX)
The Shelf-Space Funds include the following mutual fund families: AIG SunAmerica, AIM, AllianceBernstein, American, American Skandia, Columbia, Fidelity, Franklin Templeton, Hartford, John Hancock, MFS, NationsFunds, Pacific Life, Pioneer, Putnam, Oppenheimer, Scudder, Van Kampen, and WM.

This action is pending in the United States District Court for the Eastern District of New York against defendant American International Group, Inc. and certain of its affiliated entities. The complaint alleges that during the Class Period, defendants served as financial advisors who purportedly provided unbiased and honest investment advice to their clients. Unbeknownst to investors, defendants, in clear contravention of their disclosure obligations and fiduciary responsibilities, failed to properly disclose that they had engaged in a scheme to aggressively push AIG Advisor Group sales personnel to steer clients into purchasing Shelf-Space Funds that provided financial incentives and rewards to the AIG Advisor Group and its personnel based on holdings and/or sales. The complaint alleges that defendants' undisclosed sales practices created an insurmountable conflict of interest by providing substantial monetary incentives to sell Shelf-Space Funds, even though such investments were not in the clients' best interest. The AIG Advisor Group's failure to adequately disclose the incentives constituted violations of federal securities laws.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact James Lahm, Esq. at the offices of Stull, Stull & Brody.

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