EX-99.77D POLICIES 4 policychanges.txt POLICY CHANGES Nsar Exhibit 77D The changes below were effective December 30, 2005. ALLIANCEBERNSTEIN BLENDED STYLE SERIES, INC. U.S. LARGE CAP PORTFOLIO FORMER POLICIES CURRENT POLICIES Investment Objective: Fundamental: Non-fundamental: The investment objective of the The investment objective of Fund is long-term growth of capital. the Fund is long-term growth of capital. Fundamental Investment Policies: The Portfolio is diversified. The Fund may not with respect to 75% of its assets (i) have more than 5% of its assets invested in any one issuer and (ii) own more than 10% of the outstanding voting securities of any one issuer. The Fund may not invest 25% or more The Fund may not concentrate of the value of its total assets in investments in an industry, the same industry (except that this as concentration may be defined restriction does not apply to under the 1940 Act or the rules securitiesissued or guaranteed by the and regulations thereunder U.S. Government, its agencies and (as such statute, rules instrumentalities). or regulations may be amended from time to time) or by guidance regarding, interpretations of, or exemptive orders under, the 1940 Act or the rules or regulations thereunder published by appropriate regulatory authorities. The Fund may not mortgage, pledge or Prohibition eliminated. hypothecate or otherwise encumber its assets, except as may be necessary in connection with permissible borrowings. The Fund may not purchase securities Policy eliminated. on margin, but it may obtain such short-term credits from banks as may be necessary for the clearance of purchases and sales of securities. Non-fundamental policy: The Fund may not purchase securities on margin, except (i) as otherwise provided under rules adopted by the SEC under the 1940 Act or by guidance regarding the 1940 Act, or interpretations thereof, and (ii) that the Fund may obtain such short- term credits as are necessary for the clearance of portfolio transactions, and the Fund may make margin payments in connection with futures contracts, options, forward contracts, swaps, caps, floors, collars and other financial instruments. The Fund may not issue senior The Strategy may not issue any securities or borrow money, except senior security (as that term as permitted by the 1940 Act and is defined in the 1940 Act) or the regulations and interpretations borrow money, except to the thereunder. extent permitted by the 1940 Act or the rules and regulations thereunder (as such statute, rules or regulations may be amended from time to time) or by guidance regarding, or interpretations of, or exemptive orders under, the 1940 Act or the rules or regulations thereunder published by appropriate regulatory authorities. For the purposes of this restriction, margin and collateral arrangements, including, for example, with respect to permitted borrowings, options, futures contracts, options on futures contracts and other derivatives such as swaps are not deemed to involve the issuance of a senior security. The Fund may not make loans to The Fund may not make loans except other persons, except that the through (i) the purchase of debt Fund may lend its portfolio obligations in accordance securities in accordance with with its investment objectives applicable law. The acquisition and policies; (ii) the lending of investment securities or other of portfolio securities; (iii) investment instruments shall not be the use of repurchase agreements; deemed the making of a loan. or (iv) the making of loans to affiliated funds as permitted under the 1940 Act, the rules and regulations thereunder (as such statutes,rule or regulations may be amended from time to time), or by guidance regarding, and interpretations of, or exemptive orders under, the 1940 Act. The Fund may not purchase or sell The Fund may not purchase or sell real estate unless acquired as a real estate except that it result of the ownership of securities may dispose of real estate or other instruments; provided that acquired as a result of this restriction shall not prohibit the ownership of securities the Fund from investing in securities or other instruments. or other instruments backed by real This restriction does not estate or in securities of companies prohibit the Fund from investing engaged in the real estate business. in securities or other instruments backed by real estate or in securities of companies engaged in the real estate business. The Fund may not purchase or sell The Fund may not purchase or physical commodities unless acquired sell commodities regulated by as a result of the ownership of the Commodity Futures securities or instruments; provided Trading Commission under the that this restriction shall not Commodity Exchange Act or prohibit the Fund from investing in commodities contracts except securities or other instruments for futures contracts and backed by real estate or in securities options on futures contracts. of companies engaged in the real estate business. Related non-fundamental policy: Related non-fundamental policy: The Fund may not purchase or sell a Restriction eliminated. stock index future if, immediately thereafter, more than 30% of its total assets would be hedge by stock index futures. The Fund may not purchase or sell a stock index future if, immediately thereafter, the sum of the amount of margin deposits on the Funds existing futures positions would exceed 5% of the market value of the Funds total assets. The Fund may not act as an underwriter The Fund may not act of securities, except that the Fund as an underwriter of may acquire restricted securities or securities, except that securities in private placements under the Fund may acquire circumstances in which, if such restricted securities under securities were sold, the Fund might circumstances in which, if be deemed to be an underwriter such securities were sold, within the meaning of the Securities the Fund might be deemed to be Act. an underwriter for purposes of the Securities Act of 1933, as amended (the Securities Act). Non-fundamental Investment Policies: The Fund may invest up to 15% of The Fund will limit its its net assets in illiquid securities. investment in illiquid securities to no more than 15% of net assets or such other amount permitted by guidance regarding the 1940 Act. The Fund may make loans of portfolio The Fund may lend portfolio securities up to 33-1/3% of its total securities to the extent assets (including collateral for any permitted under the 1940 security loaned). Act or the rules and regulations thereunder (as such statute, rules or regulations may be amended from time to time) or by guidance regarding, interpretations of, or exemptive orders under, the 1940 Act. The Fund may invest in the securities of other investment companies, including exchange- traded funds, to the extent permitted under the 1940 Act or the rules and regulations thereunder (as such statute, rules or regulations may be amended from time to time) or by guidance regarding, interpretations of, or exemptive orders under, the 1940 Act or the rules or regulations thereunder published by appropriate regulatory authorities. SK 00250 0073 660011