EXHIBIT 99.17
News Release |
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FOR IMMEDIATE RELEASE
Contacts: | Valerie Haertel (Investor Relations) | John Meyers (Media) |
| (212) 969-6414 | (212) 969-2301 |
| investor_relations@acml.com | john_meyers@acml.com |
ALLIANCE CAPITAL ANNOUNCES AUGUST 31, 2003 ASSETS UNDER MANAGEMENT
New York, NY, September 10, 2003 – Alliance Capital Management Holding L.P. (“Alliance Holding”) (NYSE: AC) and Alliance Capital Management L.P. (“Alliance Capital”) today reported preliminary assets under management of approximately $434 billion at August 31, 2003 compared to $427 billion at July 31, 2003 and $395 billion at August 31, 2002.
ALLIANCE CAPITAL MANAGEMENT L.P.
(THE OPERATING PARTNERSHIP)
ASSETS UNDER MANAGEMENT
($ billions)
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| At August 31, 2003 |
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| Institutional |
| Private |
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| At July 31, |
| At Dec 31, |
| At Aug 31, |
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| Retail |
| Management |
| Client |
| Total |
| Total |
| Total |
| Total |
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Equity |
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Growth |
| $ | 44 |
| $ | 72 |
| $ | 5 |
| $ | 121 |
| $ | 118 |
| $ | 109 |
| $ | 121 |
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Value |
| 28 |
| 70 |
| 30 |
| 128 |
| 123 |
| 99 |
| 98 |
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Total Equity |
| 72 |
| 142 |
| 35 |
| 249 |
| 241 |
| 208 |
| 219 |
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Fixed Income |
| 71 |
| 78 |
| 11 |
| 160 |
| 161 |
| 156 |
| 152 |
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Passive |
| 4 |
| 21 |
| 0 |
| 25 |
| 25 |
| 23 |
| 24 |
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Total |
| $ | 147 |
| $ | 241 |
| $ | 46 |
| $ | 434 |
| $ | 427 |
| $ | 387 |
| $ | 395 |
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ABOUT ALLIANCE CAPITAL
Alliance Capital is a leading global investment management firm providing investment management services for many of the largest U.S. public and private employee benefit plans, foundations, public employee retirement funds, pension funds, endowments, banks, insurance companies and high-net-worth individuals worldwide. Alliance Capital is also one of the largest mutual fund sponsors, with a diverse family of globally distributed mutual fund portfolios. Through its Sanford C. Bernstein & Co., LLC subsidiary, Alliance provides in-depth research, portfolio strategy and trade execution to the institutional investment community.
At June 30, 2003, Alliance Holding owned approximately 30.8% of the Units of limited partnership interest in Alliance Capital. AXA Financial was the beneficial owner of approximately 55.2% of the outstanding Alliance Capital Units at June 30, 2003 (including those held indirectly through its ownership of 1.9% of the outstanding Alliance Holding Units), which, including the general partnership interests in Alliance Capital and Alliance Holding, represent an approximate 55.7% economic interest in Alliance Capital. AXA Financial, Inc. is a wholly owned subsidiary of AXA, one of the largest global financial services organizations. Additional information may be found at www.alliancecapital.com.
Forward-Looking Statements
Certain statements provided by Alliance Capital and Alliance Holding in this press release 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, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. The most significant of such factors include, but are not limited to, the following: the performance of financial markets, the investment performance of Alliance Capital’s sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions, and government regulations, including changes in tax rates. Alliance Capital and Alliance Holding caution readers to carefully consider such factors. Further, such forward-looking statements speak only as of the date on which such statements are made; Alliance Capital and Alliance Holding undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.
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