EXHIBIT 24
                                                                    ----------

                             POWER OF ATTORNEY

               KNOW ALL MEN BY THESE PRESENTS, THAT EACH PERSON WHOSE
SIGNATURE APPEARS BELOW, CONSTITUTES AND APPOINTS ROBERT H. JOSEPH, JR. AND
DAVID R. BREWER, JR. AND EACH OF THEM, OUR TRUE AND LAWFUL ATTORNEYS-IN-FACT
AND AGENTS, WITH FULL POWER OF SUBSTITUTION AND RESUBSTITUTION, TO DO ANY AND
ALL ACTS AND THINGS AND EXECUTE, IN THE NAME OF THE UNDERSIGNED, ANY AND ALL
INSTRUMENTS WHICH SAID ATTORNEYS-IN-FACT AND AGENTS MAY DEEM NECESSARY OR
ADVISABLE IN ORDER TO ENABLE ALLIANCE CAPITAL MANAGEMENT L.P. TO COMPLY WITH
THE SECURITIES ACT OF 1933 AND ANY REQUIREMENTS OF THE SECURITIES AND EXCHANGE
COMMISSION IN RESPECT THEREOF, IN CONNECTION WITH THE FILING WITH THE
SECURITIES AND EXCHANGE COMMISSION OF THE REGISTRATION STATEMENT ON FORM S-8
UNDER THE SECURITIES ACT OF 1933, INCLUDING SPECIFICALLY BUT WITHOUT
LIMITATION, POWER AND AUTHORITY TO SIGN THE NAME OF THE UNDERSIGNED TO SUCH
REGISTRATION STATEMENT, AND ANY AMENDMENTS TO SUCH REGISTRATION STATEMENT
(INCLUDING POST-EFFECTIVE AMENDMENTS), AND TO FILE THE SAME WITH ALL EXHIBITS
THERETO AND OTHER DOCUMENTS IN CONNECTION THEREWITH, WITH THE SECURITIES AND
EXCHANGE COMMISSION, TO SIGN ANY AND ALL APPLICATIONS, REGISTRATION
STATEMENTS, NOTICES OR OTHER DOCUMENTS NECESSARY OR ADVISABLE TO COMPLY WITH
APPLICABLE STATE SECURITIES LAWS, AND TO FILE THE SAME, TOGETHER WITH OTHER
DOCUMENTS IN CONNECTION THEREWITH WITH THE APPROPRIATE STATE SECURITIES
AUTHORITIES, GRANTING UNTO SAID ATTORNEYS-IN-FACT AND AGENTS, AND EACH OF
THEM, FULL POWER AND AUTHORITY TO DO AND TO PERFORM EACH AND EVERY ACT AND
THING REQUISITE OR NECESSARY TO BE DONE IN AND ABOUT THE PREMISES, AS FULLY
AND TO ALL INTENTS AND PURPOSES AS THE UNDERSIGNED MIGHT OR COULD DO IN
PERSON, HEREBY RATIFYING AND CONFIRMING ALL THAT SAID ATTORNEYS-IN-FACT AND
AGENTS, AND ANY OF THEM, OR THEIR SUBSTITUTES, MAY LAWFULLY DO OR CAUSE TO
BE DONE BY VIRTUE HEREOF.

Signature                       Title                      Date
- ---------                       -----                      ----

/s/ Dave H. Williams
- ----------------------------    Chairman of the Board      March 10, 1998
Dave H. Williams and            Director



/s/ Bruce W. Calvert            Vice Chairman and Director March 10, 1998
- ----------------------------
Bruce W. Calvert



/s/ John D. Carifa              Director                   March 10, 1998
- ----------------------------
John D. Carifa



/s/ Claude Bebear
- ----------------------------    Director                   March 10, 1998
Claude Bebear



/s/ Donald H. Brydon
- ----------------------------    Director                   March 10, 1998
Donald H. Brydon



/s/ Henri de Castries
- ----------------------------    Director                   March 10, 1998
Henri de Castries



/s/ Kevin C. Dolan
- ----------------------------    Director                   March 10, 1998
Kevin C. Dolan



/s/ Denis Duverne
- ----------------------------    Director                   March 10, 1998
Denis Duverne



/s/ Alfred Harrison
- ----------------------------    Vice Chairman and Director March 10, 1998
Alfred Harrison



/s/ Benjamin D. Holloway
- ----------------------------    Director                   March 10, 1998
Benjamin D. Holloway



/s/ Joseph J. Melone
- ----------------------------    Director                   March 10, 1998
Joseph J. Melone



/s/ Frank Savage
- ----------------------------    Director                   March 10, 1998
Frank Savage



/s/ Stanley B. Tulin
- ----------------------------    Director                   March 10, 1998
Stanley B. Tulin



/s/ Reba W. Williams
- ----------------------------    Director                   March 10, 1998
Reba W. Williams



/s/ Robert B. Zoellick
- ----------------------------    Director                   March 10, 1998
Robert B. Zoellick