AllianceBernstein
2
Fourth Quarter 2008 Review
Proprietary - For AllianceBernstein L.P. use only
Certain statements provided by management in this presentation are “forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, uncertainties, and other factors that
could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. The most
significant of these factors include, but are not limited to, the following: the performance of financial markets, the investment
performance of sponsored investment products and separately managed accounts, general economic conditions, industry trends,
future acquisitions, competitive conditions, and government regulations, including changes in tax regulations and rates and the
manner in which the earnings of publicly traded partnerships are taxed. We caution readers to carefully consider such factors.
Further, such forward-looking statements speak only as of the date on which such statements are made; we undertake no obligation
to update any forward-looking statements to reflect events or circumstances after the date of such statements. For further
information regarding these forward-looking statements and the factors that could cause actual results to differ, see “Risk Factors” in
Part I, Item 1A of our Form 10-K for the year ended December 31, 2007 and Part II, Item 1A of our Form 10-Q for the quarter ended
September 30, 2008. Any or all of the forward-looking statements that we make in this news release, Form 10-K, Form 10-Q, other
documents we file with or furnish to the SEC, or any other public statements we issue, may turn out to be wrong. It is important to
remember that other factors besides those listed in “Risk Factors” and those listed above and below could also adversely affect our
revenues, financial condition, results of operations, and business prospects.
The forward-looking statements referred to in the preceding paragraph include statements regarding:
• Our expectation that the securities in which we invest will outperform as markets stabilize and global economies
improve: Historical performance is not necessarily indicative of future results or market movements. The actual performance of the
capital markets and other factors beyond our control will affect our investment success for clients and asset flows.
• Our backlog of new institutional mandates not yet funded: Before they are funded, institutional mandates do not represent
legally binding commitments to fund and, accordingly, the possibility exists that not all mandates will be funded in the amounts and
at the times we currently anticipate.
• The strength of our balance sheet: Our solid financial foundation is dependent on our cash flow from operations, which is
subject to the performance of the capital markets and other factors beyond our control. Our access to public and private debt may be
limited by turbulent market conditions and changes in government regulations, including tax rates and interest rates.
Cautions regarding Forward-Looking Statements
