EXHIBIT 21.0





                         SUBSIDIARIES OF THE REGISTRANT

                           Alliance Capital Management
                             Corporation of Delaware
                                   (Delaware)

                             Alliance Capital Global
                             Derivatives Corporation
                                   (Delaware)

                      Alliance Capital Oceanic Corporation
                                   (Delaware)

                            Alliance Capital Limited
                                    (England)

                      Dimensional Asset Management Limited
                                    (England)

                      Dimensional Trust Management Limited
                                    (England)

                          Alliance Fund Services, Inc.
                                   (Delaware)

                        Alliance Fund Distributors, Inc.
                                   (Delaware)

                    Alliance International Fund Services S.A.
                                  (Luxembourg)

                    Alliance Capital Management (Japan) Inc.
                                   (Delaware)

                       Alliance Capital (Luxembourg) S.A.
                                  (Luxembourg)

                  Alliance Corporate Finance Group Incorporated
                                   (Delaware)

                 Alliance Capital Management Australia Pty. Ltd.
                              (Victoria, Australia)

                    Allliance Capital Management (Asia) Ltd.
                                   (Delaware)



                                       -2-



                    Alliance Capital Management Canada, Inc.
                           (British Columbia, Canada)

                    Alliance Capital Management (India) Ltd.
                                   (Delaware)

                        Pastor Alliance Gestora de Fondos
                               de Pensiones, S.A.
                                     (Spain)

                      Meiji - Alliance Capital Corporation
                                   (Delaware)

                     Alliance Barra Research Institute Inc.
                                   (Delaware)

                          Alliance Eastern Europe Inc.
                                   (Delaware)

                    Alliance Capital Management (Turkey) Ltd.
                                   (Delaware)