Exhibit 99.12
News Release | | 
|
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 JUNE 30, 2004 ASSETS UNDER MANAGEMENT
SECOND QUARTER EARNINGS CONFERENCE CALL TO BE HELD ON JULY 27, 2004
New York, NY, July 12, 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 increased by $8 billion, or 1.7%, to approximately $480 billion at June 30, 2004 from $472 billion at May 31, 2004.
ALLIANCE CAPITAL MANAGEMENT L.P.
ASSETS UNDER MANAGEMENT
($ billions)
| | At June 30, 2004
(preliminary) | | At May 31,
2004 | | At Dec 31,
2003 | | At June 30,
2003 | |
| | Retail | | Institutional
Investment
Management | | Private
Client | | Total | | Total | | Total | | Total | |
Equity | | | | | | | | | | | | | | | |
Growth | | $ | 46 | | $ | 70 | | $ | 10 | | $ | 126 | | $ | 124 | | $ | 130 | | $ | 115 | |
Value | | 36 | | 96 | | 33 | | 165 | | 160 | | 152 | | 119 | |
Total Equity | | 82 | | 166 | | 43 | | 291 | | 284 | | 282 | | 234 | |
| | | | | | | | | | | | | | | |
Fixed Income | | 67 | | 82 | | 12 | | 161 | | 160 | | 164 | | 168 | |
| | | | | | | | | | | | | | | |
Passive | | 5 | | 23 | | 0 | | 28 | | 28 | | 29 | | 24 | |
Total | | $ | 154 | | $ | 271 | | $ | 55 | | $ | 480 | | $ | 472 | | $ | 475 | | $ | 426 | |
| | At May 31, 2004 | |
| | | | | | | | | |
Total | | $ | 152 | | $ | 266 | | $ | 54 | | $ | 472 | |
| | | | | | | | | | | | | |
CONFERENCE CALL INFORMATION RELATING TO SECOND QUARTER 2004 RESULTS
Alliance Capital’s management will review second quarter 2004 financial and operating results on Tuesday, July 27, 2004, during a conference call at 5:00 p.m. (New York Time), following the release of financial results after the close of the New York Stock Exchange, that will be hosted by Chief Executive Officer Lewis A. Sanders and Chief Operating Officer Gerald M. Lieberman.
Parties interested in listening to the conference call may access it by either telephone or webcast.
1. To listen by telephone, please dial 888-428-4479 in the U.S. or 612-332-0107 outside the U.S. ten minutes before the 5:00 p.m. (New York Time) scheduled start time. Please indicate access code “Alliance” when dialing in.
2. To listen by webcast, please visit Alliance Capital’s Investor Relations website at http://ir.alliancecapital.com at least fifteen minutes prior to the call to download and install any necessary audio software.
The presentation slides that will be reviewed during the conference call are expected to be available promptly after the release of financial results on Alliance Capital’s website at the above web address.
A replay of the conference call will be made available for one week beginning at 8:00 p.m. (New York Time) July 27, 2004. In the U.S. please call 800-475-6701 or for callers outside the U.S. 320-365-3844, and provide the access code 738447. The replay will also be available via webcast on Alliance Capital’s website for one week.
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, 2004, Alliance Holding owned approximately 31.5% of the Alliance Capital Units. AXA Financial was the beneficial owner of approximately 57.8% of the outstanding Alliance Capital Units at June 30, 2004 (including those held indirectly through its ownership of approximately 1.8% of the outstanding Alliance Holding Units), which, including the general partnership interests in Alliance Capital and Alliance Holding, represent an approximate 58.3% 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.
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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. For further information regarding these forward-looking statements and the factors that could cause actual results to differ, please refer to the Risk Factors section in Part I of Form 10-K for the year ended December 31, 2003. Any or all of the forward-looking statements that we make in Form 10-K 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 the Risk Factors section of Form 10-K could also adversely affect our business, operating results or financial condition.
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