Exhibit 10(b)(1)
CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER
I, Marc O. Mayer, certify that:
1. I have reviewed this report on Form N-CSR (the "Report") of
AllianceBernstein Real Estate Investment Fund, Inc. (the "Fund");
2. Based on my knowledge, this Report does not contain any untrue statement of
a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this Report;
3. Based on my knowledge, the financial statements and other financial
information included in this Report, fairly present in all material respects
the financial condition, results of operations, changes in net assets, and
cash flows (if the financial statements are required to include a statement
of cash flows) of the Fund as of, and for, the periods presented in this
Report;
4. The Fund's other certifying officer and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Rule
30a-3(c) under the Investment Company Act) for the Fund and have:
a) designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the Fund, including its
consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this Report is being
prepared;
b) evaluated the effectiveness of the Fund's disclosure controls and
procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of a date
within 90 days prior to the filing date of this Report based on such
evaluation; and
c) disclosed in this Report any change in the Fund's internal control over
financial reporting that occurred during the Fund's most recent fiscal
half-year [or second fiscal half-year in the case of an annual report]
that has materially affected, or is reasonably likely to materially
affect, the Fund's internal control over financial reporting; and
5. The Fund's other certifying officer and I have disclosed to the Fund's
auditors and the audit committee of the Fund's board of directors:
a) all significant deficiencies in the design or operation of internal
control over financial reporting which are reasonably likely to
adversely affect the Fund's ability to record, process, summarize, and
report financial information; and
b) any fraud, whether or not material, that involves management or other
employees who have a significant role in the Fund's internal controls.
Date: January 29, 2004
/s/ Marc O. Mayer
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Marc O. Mayer
President
Exhibit 10(b)(2)
CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER
I, Mark D. Gersten, certify that:
1. I have reviewed this report on Form N-CSR (the "Report") of
AllianceBernstein Real Estate Investment Fund, Inc. (the "Fund");
2. Based on my knowledge, this Report does not contain any untrue statement of
a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this Report;
3. Based on my knowledge, the financial statements and other financial
information included in this Report, fairly present in all material respects
the financial condition, results of operations, changes in net assets, and
cash flows (if the financial statements are required to include a statement
of cash flows) of the Fund as of, and for, the periods presented in this
Report;
4. The Fund's other certifying officer and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Rule
30a-3(c) under the Investment Company Act) for the Fund and have:
a) designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the Fund, including its
consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this Report is being
prepared;
b) evaluated the effectiveness of the Fund's disclosure controls and
procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of a date
within 90 days prior to the filing date of this Report based on such
evaluation; and
c) disclosed in this Report any change in the Fund's internal control over
financial reporting that occurred during the Fund's most recent fiscal
half-year [or second fiscal half-year in the case of an annual report]
that has materially affected, or is reasonably likely to materially
affect, the Fund's internal control over financial reporting; and
5. The Fund's other certifying officer and I have disclosed to the Fund's
auditors and the audit committee of the Fund's board of directors:
a) all significant deficiencies in the design or operation of internal
control over financial reporting which are reasonably likely to
adversely affect the Fund's ability to record, process, summarize, and
report financial information; and
b) any fraud, whether or not material, that involves management or other
employees who have a significant role in the Fund's internal controls.
Date: January 29, 2004
/s/ Mark D. Gersten
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Mark D. Gersten
Treasurer and Chief Financial Officer