Alliance Capital And Albion Asset Advisors Announce Joint Venture

Business Wire, Jan 25, 1996

NEW YORK--(BUSINESS WIRE)--January 25, 1996--Alliance Capital Management L.P. today announced that it has agreed in principle to form a partnership with Albion Asset Advisors to advise and manage private investments. The joint venture will be named Albion Alliance. Albion Asset Advisors is a New York based independent investment specialist formed in 1995 to provide investment services to institutional and large individual investors in the emerging debt markets. The newly formed entity will have a global focus and expand Alliance s existing corporate finance and private placement debt and equity investing business in developing markets.

Albion principals Mark Arnold and Alastair Tedford will direct the new venture. Mark Arnold has over twenty years of investment experience. Prior to forming Albion, Mr. Arnold served as senior portfolio manager, head of fixed income, and Chief Operating Officer at BEA Associates.

Alastair Tedford has worked exclusively on emerging market debt business at leading U.S. investment banks since 1987, most recently at Lehman Brothers, Hong Kong, where he headed up its Asian bond business.

According to Dave H. Williams, Chairman of Alliance Capital, This partnership will enhance the capabilities of both organizations, enabling us to provide expanded service to investors interested in private investing. Emerging markets offer unusually attractive returns for private debt and equity investments.

Alliance Capital Management L.P is a leading international investment adviser, with approximately $144 billion in assets under management, providing investment management services to institutions, primarily pension funds and endowments, and to individual investors through a broad line of mutual funds and cash management products.

CONTACT: Alliance Capital

Linda Finnerty

(212) 969-1316