Alliance Capital Management Holding L.P. ("Alliance" or the Company) is a global investment management firm.

According to a press release dated October 2, 2003, the Complaint alleges that Defendants violated Sections 11 and 15 of the Securities Act of 1933; Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder; and Section 206 of the Investment Advisers Act of 1940. The Complaint charges that throughout the Class Period, certain of the Defendants failed to disclose that they improperly allowed certain hedge funds, including Canary and certain Alliance hedge funds, to engage in "late trading" and "timing" of the Funds' securities. Late trades are trades received after 4:00 p.m. EST that are filled based on that day's net asset value, as opposed to being filled based on the next day's net asset value, which is the proper procedure under SEC regulations. Late trading allows favored investors to make use of market-moving information that only becomes available after 4 P.M and has been compared to betting on a horse race that already has been run. Timing is excessive, arbitrage trading undertaken to turn a quick profit and which ordinary investors are told that the funds police. Late trading and timing injure ordinary mutual fund investors and are acknowledged as improper practices by the Funds. In return for receiving extra fees from Canary and other favored investors, Alliance and its subsidiaries allowed and facilitated Canary's timing and late trading activities, to the detriment of class members, who paid, dollar for dollar, for Canary's improper profits. These practices were undisclosed in the prospectuses of the Funds, which falsely represented that the Funds actively police against timing and represented that post-4 P.M. EST trades will be priced based on the next day's net asset value and that premature redemptions will be assessed a charge.

On February 20, 2004, the Judicial Panel on Multidistrict Litigation (JPMDL) transferred all federal actions to the United States District Court for the District of Maryland ("Mutual Fund MDL"). On March 3, 2004 and April 6, 2004, the MDL Panel issued orders conditionally transferring the state Court cases against Alliance and numerous others to the Mutual Fund MDL. Transfer of all of these actions subsequently became final. Plaintiffs in three of these four actions moved to remand the actions back to state Court. On June 18, 2004, the Court issued an interim opinion deferring decision on Plaintiffs' motions to remand until a later stage in the proceedings. Subsequently, the Plaintiff in the state Court individual action moved the Court for reconsideration of that interim opinion and for immediate remand of her case to state Court, and that motion was then pending. Defendants were not immediately required to respond to the Complaints filed in the state Court derivative actions.

On September 29, 2004, Plaintiffs filed consolidated amended Complaints with respect to four claim types: mutual fund shareholder claims; mutual fund derivative claims; derivative claims brought on behalf of Alliance; and claims brought under ERISA by participants in the Profit Sharing Plan for Employees of Alliance Capital. All four Complaints include substantially identical factual allegations, which appear to be based in large part on the SEC Order.

Numerous motions to dismiss various Complaints were filed on February 25 and March 7, 2005.

According to the docket dated November 5, 2007, discovery proceeded in the multi-district mutual funds litigation. Simultaneously, some of the Defendants have been involved in settlement discussions with the Plaintiffs. This settlement process has been impacted by parallel regulatory proceedings occurring at the Securities and Exchange Commission (“SEC”). Nevertheless, the court has been advised that several settlements have been agreed upon in principle. Additionally, numerous individuals and firms have been voluntarily dismissed by Plaintiffs throughout 2005 and 2006. On June 11, 2007, the over-seeing judges issued a scheduling order calling for completion of discovery by March 28, 2008.

Additionally, oral arguments concerning numerous pending motions for dismissal were held on October 5, 2007. Those motions were ordered denied on October 19, 2007.

On May 19, 2010, The Hon. J. Frederick Motz signed the preliminary order granting approval of the settlement in the Alliance Sub-Track.

On August 18, 2010, there was a Status Report sent to the court updating the court on how the settlement process was progressing. (Document 1320)

On October 25, 2010, The Hon. J. Frederick Motz signed the Final Judgment and Order, as well as the Order of Plan of Allocation, and order re Attorneys’ Fees and Expenses, which were entered by the Deputy Clerk on October 27, 2010.

The Funds, and the symbols for the respective Funds named in the Complaint, are as follows:

U.S. Stock Funds
AllianceBernstein Growth & Income Fund (Sym: CABDX, CBBDX, CBBCX)
AllianceBernstein Health Care Fund (Sym: AHLAX, AHLBX, AHLCX)
AllianceBernstein Disciplined Value Fund (Sym: ADGAX, ADGBX, ADGCX)
AllianceBernstein Mid-Cap Growth (Sym: CHCAX, CHCBX, CHCCX)
AllianceBernstein Real Estate Investment Fund (Sym: AREAX, AREBX, ARECX)
AllianceBernstein Growth Fund (Sym: AGRFX, AGBBX, AGRCX)
AllianceBernstein Select Investor Series Biotechnology Portfolio (Sym: ASBAX, AIBBX, ASBCX)
AllianceBernstein Small CapValue Fund (Sym: ABASX, ABBSX, ABCSX)
AllianceBernstein Premier Growth Fund (Sym: APGAX, APGBX APGCX)
AllianceBernstein Select Investor Series Technology Portfolio (Sym AITAX, AITBX, AITCX)
AllianceBernstein Value Fund (Sym: ABVAX, ABVBX, ABVCX)
AllianceBernstein Quasar Fund (Sym: QUASX, QUABX, QUACX)
AllianceBernstein Technology Fund (Sym: ALTFX, ATEBX, ATECX)
AllianceBernstein Select Investor Series Premier Portfolio (Sym: ASPAX, ASPBX, ASPCX)
AllianceBernstein Utility Income Fund (Sym: AUIAX, AUIBX, AUICX)


Value Funds
AllianceBernstein Balanced Shares (Sym: CABNX, CABBX, CBACX)
AllianceBernstein Disciplined Value Fund (Sym: ADGAX, ADGBX, ADGCX)
AllianceBernstein Global Value Fund (Sym: ABAGX, ABBGX, ABCGX)
AllianceBernstein International Value Fund (Sym: ABIAX, ABIBX, ABICX)
AllianceBernstein Real Estate Investment Fund (Sym: AREAX, AREBX, ARECX)
AllianceBernstein Small Cap Value Fund (Sym: ABASX, ABBSX, ABCSX)
AllianceBernstein Utility Income Fund (Sym: AUIAX, AUIBX, AUICX)
AllianceBernstein Value Fund (Sym: ABVAX, ABVBX, AVBCX)

Blended Style Series
AllianceBernstein Blended Style Series - U.S. Large Cap Portfolio (Sym: ABBAX, ABBAX, ABBCX)

Global & International Stock Funds
AllianceBernstein All-Asia Investment Fund (Sym: AALAX, AAABX, AAACX)
AllianceBernstein Global Value Fund (Sym: ABAGX, ABBGX, ABCGX)
AllianceBernstein Greater China '97 Fund (Sym: GCHAX, GCHBX, GCHCX)
AllianceBernstein International Premier Growth Fund (Sym: AIPAX, AIPBX, AIPCX)
AllianceBernstein International Value Fund (Sym: ABIAX, ABIBX, ABICX)
AllianceBernstein Global Small Cap Fund (Sym: GSCAX, AGCBX, GSCCX)
AllianceBernstein New Europe Fund (Sym: ANEAX, ANEBX, ANECX)
AllianceBernstein Worldwide Privatization Fund (Sym: AWPAX, AWPBX, AWPCX)

Select Investor Series
AllianceBernstein Select Investor Series Biotechnology Portfolio (Sym: ASBAX, AIBBX, ASBCX)
AllianceBernstein Select Investor Series Premier Portfolio (Sym: ASPAX, ASPBX, ASPCX)
AllianceBernstein Select Investor Series Technology Portfolio (Sym: AITAX, AITBX, AITCX)

Taxable Bond Funds
AllianceBernstein Americas Government Income Trust (Sym: ANAGX, ANABX, ANACX)
AllianceBernstein Bond Fund Corporate Bond Portfolio (Sym: CBFAX, CBFBX, CBFCX)
AllianceBernstein Bond Fund Quality Bond Portfolio (Sym: ABQUX, ABQBX, ABQCX)
AllianceBernstein Bond Fund U.S. Government Portfolio (Sym: ABUSX, ABUBX ABUCX)
AllianceBernstein Emerging Market Debt Fund (Sym: AGDAX, AGDBX, AGDCX)
AllianceBernstein Global Strategic Income Trust (Sym: AGSAX, AGSBX, AGCCX)
AllianceBernstein High Yield Fund (Sym: AHYAX, AHHBX, AHHCX)
AllianceBernstein Multi-Market Strategy Trust (Sym: AMMSX, AMMBX, AMMCX)
AllianceBernstein Short Duration (Sym: ADPAX, ADPBX, ADPCX)

Tax-Exempt Bond Funds
AllianceBernstein Intermediate California Muni Portfolio (Sym: AICBX, ACLBX, ACMCX)
AllianceBernstein Intermediate Diversified Muni Portfolio (Sym: AIDAX, AIDBX, AIMCX)
AllianceBernstein Intermediate New York Muni Portfolio: (Sym: ANIAX, ANYBX, ANMCX)
AllianceBernstein Muni Income Fund National Portfolio (Sym: ALTHX, ALTBX, ALNCX)
AllianceBernstein Muni Income Fund Arizona Portfolio (Sym: AAZAX, AAZBX, AAZCX)
AllianceBernstein Muni Income Fund California Portfolio (Sym: ALCAX, ALCBX, ACACX)
AllianceBernstein Muni Income Fund Insured California Portfolio (Sym: BUICX, BUIBX, BUCCX)
AllianceBernstein Muni Income Fund Insured National Portfolio (Sym: CABTX, CBBBX, CACCX)
AllianceBernstein Muni Income Fund Florida Portfolio (Sym: AFLAX, AFLBX, AFLCX)
AllianceBernstein Muni Income Fund Massachusetts Portfolio (Sym: AMAAX, AMABX)
AllianceBernstein Muni Income Fund Michigan Portfolio (Sym: AMIAX, AMIBX, AMICX)
AllianceBernstein Muni Income Fund Minnesota Portfolio (Sym: AMNAX, AMNBX, AMNCX)
AllianceBernstein Muni Income Fund New Jersey Portfolio (Sym: ANJAX, ANJBX, ANJCX)
AllianceBernstein Muni Income Fund New York Portfolio (Sym: ALNYX, ALNBX, ANYCX)
AllianceBernstein Muni Income Fund Ohio Portfolio (Sym: AOHAX, AOHBX, AOHCX)
AllianceBernstein Muni Income Fund Pennsylvania Portfolio (Sym: APAAX, APABX, APACX)
AllianceBernstein Muni Income Fund Virginia Portfolio (Sym: AVAAX, AVABX, AVACX)

Investors in the State of Rhode Island 529 Plan, known as the CollegeBoundfund(SM), may have invested in one or more of the funds listed below:
AllianceBernstein Growth & Income Fund
AllianceBernstein Mid-Cap Growth Fund
AllianceBernstein Premier Growth Fund
AllianceBernstein Quasar Fund
AllianceBernstein Technology Fund
AllianceBernstein Quality Bond Portfolio
AllianceBernstein International Value Fund
AllianceBernstein Small Cap Value Fund
AllianceBernstein Value Fund