Exhibit 99.04 |
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News Release | 
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FOR IMMEDIATE RELEASE | |
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Contacts: | Valerie Haertel (Investor Relations) | John Meyers (Media) |
| (212) 969-6414 | (212) 969-2301 |
| investor_relations@acml.com | john_meyers@acml.com |
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ALLIANCE CAPITAL ANNOUNCES JANUARY 31, 2004 ASSETS UNDER MANAGEMENT
New York, NY, February 10, 2004 – Alliance Capital Management Holding L.P. (“Alliance Holding”) (NYSE: AC) and Alliance Capital Management L.P. (“Alliance Capital”) today reported that preliminary assets under management (“AUM”) increased by $10 billion, or 2.2%, to $485 billion at January 31, 2004 from $475 billion at December 31, 2003.
ALLIANCE CAPITAL MANAGEMENT L.P.
(THE OPERATING PARTNERSHIP)
ASSETS UNDER MANAGEMENT
($ billions)
| | At January 31, 2004
(preliminary) | | At Dec 31,
2003 | | At Jan 31,
2003 | |
| | Retail | | Institutional
Investment
Management | | Private
Client (1) | | Total | | Total | | Total | |
Equity | | | | | | | | | | | | | |
Growth | | $ | 48 | | $ | 75 | | $ | 9 | | $ | 132 | | $ | 127 | | $ | 104 | |
Value | | 34 | | 91 | | 32 | | 157 | | 155 | | 98 | |
Total Equity | | 82 | | 166 | | 41 | | 289 | | 282 | | 202 | |
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Fixed Income | | 72 | | 84 | | 12 | | 168 | | 164 | | 157 | |
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Passive | | 4 | | 24 | | 0 | | 28 | | 28 | | 23 | |
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Total | | $ | 158 | | $ | 274 | | $ | 53 | | $ | 485 | | $ | 475 | | $ | 382 | |
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| | At December 31, 2003 | | | | | |
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Total | | $ | 154 | | $ | 269 | | $ | 52 | | $ | 475 | | | | | |
(1) Certain equity funds transitioned from a Value orientation to a 50% Value, 50% Growth orientation, resulting in a transfer of approximately $3 billion of AUM from Value equities to Growth equities.
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 December 31, 2003, Alliance Holding owned approximately 31.0% of the Alliance Capital Units. AXA Financial was the beneficial owner of approximately 55.0% of the outstanding Alliance Capital Units at December 31, 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 55.5% 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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