EXHIBIT 24.34





                                POWER-OF-ATTORNEY

     KNOWN TO ALL MEN BY THESE PRESENTS, that Christophe Dupont-Madinier hereby
revokes all prior powers granted by the undersigned to the extent inconsistent
herewith and constitutes and appoints John D. Carifa and David R. Brewer, Jr.,
and each of them, to act severally as attorneys-in-fact and agents, with full
power of substitution and resubstitution, for the undersigned in any and all
capacities, for the sole purpose of signing the Alliance Capital Management L.P.
Annual Report on Form 10-K for the fiscal year ended December 31, 1993 and
filing the same, with exhibits thereto, and other documents in connection
therewith, with the Securities and Exchange Commission, hereby ratifying and
confirming all that said attorneys-in-fact, or their substitute or substitutes,
may do or cause to be done by virtue hereof.


Dated: March 15, 1994

                                        /s/Christophe Dupont-Madinier
                                        -----------------------------
                                        Christophe Dupont-Madinier