NEW YORK, Aug. 3, 2015 /PRNewswire/ -- Alliance New York Municipal Income Fund, Inc. (NYSE: AYN) (the "Fund") announced today that shareholders of the Fund approved the proposed plan of liquidation and dissolution of the Fund at the Special Meeting of Shareholders held today (the "Liquidation").  In connection with the Liquidation, the Fund will close its books and records at the close of business on Wednesday August 5, 2015 and will begin to transition its portfolio in anticipation of the liquidation.  The proportionate interests of shareholders in the Fund's assets will be fixed on the basis of their respective shareholdings at the close of business on August 5, 2015.  As of that time, the trading of the Fund's shares on the New York Stock Exchange is expected to be suspended.

The Fund expects to make one or more liquidating or other distributions to common shareholders.  It is anticipated that liquidating and other distributions to common stockholders will be made on or before September 21, 2015.  The Fund's preferred stock will be redeemed and preferred shareholders will receive the liquidation preference amount of each share plus accumulated but unpaid dividends and other distributions.  It is anticipated that redemption of the Fund's preferred stock will take place on or about August 25, 2015.

The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L.P. with total net assets of $110,651,000 as of July 31, 2015.

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SOURCE Alliance New York Municipal Income Fund, Inc.