UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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ALLIANCEBERNSTEIN INCOME FUND, INC.
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(Name of Registrant as Specified In Its Charter)
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On February 6, 2014, AllianceBernstein Income Fund, Inc. issued a press release
relating to its upcoming 2014 annual meeting of stockholders. A copy of the
press release is set forth below.
AB
[LOGO]
ALLIANCEBERNSTEIN
FOR IMMEDIATE RELEASE
AllianceBernstein Income Fund Announces Proposals To Be Submitted To
Stockholders At Annual Meeting on March 27, 2014
New York, NY, February 6, 2014 - AllianceBernstein Income Fund, Inc.
("Fund") (NYSE: ACG) announced today that its Board of Directors ("Board")
unanimously approved a proposal to eliminate the Fund's fundamental investment
policy requiring the Fund to invest, under normal circumstances, at least 65% of
its total assets in obligations issued or guaranteed by the U.S. government, its
agencies or instrumentalities ("U.S. government securities") and repurchase
agreements pertaining to U.S. government securities and the submission of the
proposal to stockholders for their consideration at the Fund's next annual
meeting of stockholders. Under the Investment Company Act of 1940, the
elimination of this fundamental investment policy requires stockholder approval.
The Board also approved proposals to eliminate the Fund's non-fundamental
investment policies restricting the Fund from investing more than 35% of its
total assets in securities other than U.S. government securities, limiting its
investments in foreign government securities to 35% of the Fund's total assets
and limiting its investments in foreign government securities of any one country
to 25% of its total assets. In addition, the Board approved a proposal to amend
the Fund's non-fundamental policy regarding investments in repurchase agreements
to clarify that the Fund may invest in repurchase agreements pertaining to any
fixed-income security. The Board's approval of all policy changes was consistent
with the recommendation of the Fund's investment adviser, which believes that
the changes are timely given recent market developments, and may result in
improved investment and discount performance over time. The changes to the
Fund's non-fundamental investment policies do not require stockholder approval.
However, none of the changes to the Fund's non-fundamental investment policies
will become effective unless the stockholders of the Fund approve the
elimination of the Fund's fundamental investment policy concerning the Fund's
investments in U.S. government securities and repurchase agreements relating
thereto at the annual stockholder meeting. If stockholders approve the
elimination of the fundamental investment policy, the policy changes are
expected to become effective shortly after the date of such approval. The Board
determined to recommend that stockholders vote for the fundamental investment
policy change.
The Fund will also submit to stockholders a proposal to open-end the Fund
at the next annual meeting of stockholders. The Fund's charter requires the Fund
to submit to its stockholders a proposal to convert the Fund to an open-end
investment company if the Fund's shares trade at an average discount of more
than 10%, determined on the basis of the discount as of the end of the last
trading day in each week, during the last 12 calendar weeks of any calendar
year, and during such year the Fund receives written requests from the holders
of at least 10% of the Fund's outstanding shares that such open-ending proposal
be submitted to the Fund's stockholders. The Board determined to recommend that
stockholders vote against this open-ending proposal.
The proposals will be submitted to the Fund's stockholders, along with the
annual election of directors proposal, at the upcoming annual meeting of
stockholders, which will be held on March 27, 2014. The close of business on
February 7, 2014 has been fixed as the record date for the meeting of
stockholders.
Important Additional Information and Where to Find It
The Fund will be filing a proxy statement with the Securities and Exchange
Commission ("SEC") in connection with the solicitation of proxies for its 2014
annual meeting of stockholders. Stockholders are strongly advised to read the
Fund's proxy statement when it becomes available because it will contain
important information. Stockholders may obtain a free copy of the proxy
statement and other documents that the Fund files with the SEC (when available)
from the SEC's website at www.sec.gov or the Fund's website at
www.alliancebernstein.com/abfundsproxy.
The Fund, its directors and its officers may be deemed participants in the
solicitation of proxies from stockholders in connection with the Fund's 2014
annual meeting of stockholders. Information regarding the persons who may, under
the rules of the SEC, be considered participants in the solicitation of
stockholders in connection with the Fund's annual meeting, and their direct or
indirect interests, by security holdings or otherwise, which may be different
from those of the Fund's stockholders generally, will be set forth in the proxy
statement and the other relevant documents to be filed with the SEC. Information
concerning the Fund's directors and officers is available in the Fund's
Semi-Annual Report for the fiscal period ended June 30, 2013, which was filed
with the SEC on September 3, 2013 and the Fund's proxy statement for last year's
2013 annual meeting of stockholders, which was filed with the SEC on February
21, 2013.
AllianceBernstein Income Fund, Inc. is a registered closed-end management
investment company managed by AllianceBernstein L.P.