ALLIANCE CALIFORNIA MUNICIPAL INCMFNDINC 
By
Alliance California Municipal Income Fund, Inc.
Top 10 Fixed-Income Holdings
Portfolio%
1) Los Angeles Uni Sch Dist (Prerefunded) MBIA 6.17%
Series 02E 5.125%, 1/01/27
2) California (Prerefunded) 5.25%, 4/01/30 5.44%
3) Los Angeles Dept of Wtr & Pwr (Wtrwks Rev) 5.14%
FGIC Series 01A 5.125%, 7/01/41
4) Puerto Rico Hwy & Transp Auth (Prerefunded) 3.91%
Series 02D 5.375%, 7/01/36
5) Puerto Rico Elec Pwr Auth (Prerefunded) XLCA 3.72%
Series 02-2 5.25%, 7/01/31
6) Los Angeles Comnty Redev Agy (Grand Central 3.37%
Square) AMT AMBAC Series 02 5.375%, 12/01/26
7) California Infra & Econ Dev Bank (YMCA Metro 3.21%
L.A. Proj) AMBAC Series 01 5.25%, 2/01/32
8) Palo Alto Assess Dist (Univ Ave Area Off 3.07%
Street Parking) Series 02A 5.875%, 9/02/30
9) San Francisco City & Cnty Arpt Commn (Lease 2.65%
Rev San Bruno Jail #3) AMBAC Series 00 5.25%
10/01/33
10) California Hlth Fac Fin Auth (Sutter Hlth) 2.65%
Series 00A 6.25%, 8/15/35
Sector/Industry Breakdown
Portfolio%
Education 15.84%
Higher Education 13.35%
Special Tax 12.40%
Hospital/Health Care 7.70%
Community Facility 6.03%
Corporate - Utility (Water) 6.02%
Transportation 5.88%
Assessment District 4.94%
Housing-Rental Units 4.72%
COP/Lease Rental 4.35%
General Obligation 4.24%
Corporate - Utility (Electric) 3.72%
Utility 2.50%
Port Facility 2.28%
Water/SWR 2.15%
Airport Facility 1.54%
Resource Recovery/Solid Waste 1.48%
Miscellaneous 0.86%
Total 100.00%
State Breakdown
Portfolio%
California 89.42%
Puerto Rico 9.12%
Nevada 1.08%
Ohio 0.22%
Colorado 0.16%
Total 100.00%
Credit Quality Breakdown
Portfolio%
AAA 47.57%
AA 27.78%
A 15.58%
BBB 7.69%
BB 1.38%
Total Investments 100.00%
Portfolio Statistics
AMT Percentage: 15.31%
Average Coupon: 5.15%
Percentage of Leverage:
Bank Loans: 0%
Investment Operations: 4.82%
Preferred Stock: 39.57%
Total Fund Leverage: 44.39%*
Avg. Maturity: 14.22 Years
Duration: 7.94 Years
Total Net Assets: $174.9 Million
Net Asset Value: $11.99
Number of Holdings: 67
* The total percentage of leverage constitutes 39.57% in issued and outstanding preferred stock and 4.82% in investment operations, which may include the use of certain portfolio management techniques such as tender option bonds, credit default swaps, dollar rolls, negative cash, reverse repurchase agreements and when-issued securities.
The foregoing portfolio characteristics are as of the date indicated and can be expected to change. The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L. P.
SOURCE Alliance California Municipal Income Fund, Inc.
