[LETTERHEAD]


The Board of Directors
Alliance Capital Management Corporation:


We consent to the use of our report dated February 5, 1998, except for Note 
18 which is as of February 19, 1998, relating to the consolidated statements 
of financial condition of Alliance Capital Management L.P. and subsidiaries as 
of December 31, 1997 and 1996, and the related consolidated statements of 
income, changes in partners' capital, and cash flows for each of the years in 
the three-year period ended December 31, 1997 incorporated herein by 
reference in the annual report on Form 10-K of Alliance Capital Management 
L.P.


/s/ KPMG Peat Marwick LLP

New York, New York
March 27, 1998