EX-99.77D POLICIES 3 policychanges.txt POLICY CHANGES ALLIANCEBERNSTEIN GLOBAL TECHNOLOGY FUND, INC. FORMER POLICIES CURRENT POLICIES Investment Objective: Fundamental: Non-fundamental: The Fund's investment objective is The Funds investment objective growth of capital. Current income is long-term growth of capital is incidental to the Funds objective. Fundamental Investment Policies: The Fund is a diversified Fund as The Fund is a diversified a matter of fundamental policy. Related fundamental policies: Related fundamental policies: The Fund may not, with respect to Policy eliminated. 75% of its total assets, have such assets represented by other than: (a) cash and cash items, (b) securities issued or guaranteed as to principal or interest by the U.S. Government or its agencies or instrumentalities, or (c) securities of any one issuer (other than the U.S. Government and its agencies or instrumentalities) not greater in value than 5% of the Funds total assets, and not more than 10% of the outstanding voting securities of such issuer. The Fund may not purchase the Policy eliminated. securities of any one issuer, other than the U.S. Government and its agencies or instrumentalities, if immediately after and as a result of such purchase (a) the value of the holdings of the Fund in the securities of such issuer exceeds 25% of the value of the Funds total assets, or (b) the Fund owns more than 25% of the outstanding securities of any one class of securities of such issuer. Under normal circumstances, the Policy eliminated. Fund invests at least 80% of its net assets in securities of companies that use technology extensively in the development of new or improved products or processes. Non-fundamental policy: Under normal circumstances, the Fund invests at least 80% of its net assets in securities of companies that are involved in the production, creation or marketing of technology, technology services or that use technology extensively in the development of new or improved products or processes. The Fund may not concentrate its The Fund may not concentrate investments in any one industry, investments in an industry, but the Fund has reserved the right as concentration may be defined to invest up to 25% of its total the 1940 Act or the rules and assets in a particular industry. under 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. The Fund may not mortgage, pledge Prohibition eliminated. or hypothecate or otherwise encumber its assets, except as may be necessary in connection with permissible borrowings. The Fund may not purchase or The Fund may not purchase or sell real sell real property (including estate except that it may dispose of limited partnership interests real estate acquired as a result of the but excluding readily marketable ownership of securities or other interests in real estate instruments. This restriction does investment trusts or readily not prohibit the Fund from investing in marketable securities of securities or other instruments backed by companies which invest in real estate or in securities of companies real estate). engaged in the securities of companies engaged in the real estate business. The Fund may not purchase or sell The Fund may not purchase or sell commodities commodities or commodity contracts, regulated by the Commodity Futures Trading except for financial futures Commission under the Commodity Exchange Act contracts and options on such or commodities contracts except for futures futures contracts. contracts and options on futures contracts. Related non-fundamental policy: Related non-fundamental policy: The Fund will not enter into any Prohibition eliminated. futures contracts or options on futures contracts if immediately thereafter the market values of the outstanding futures contracts of the Fund and the currencies and futures contracts subject to outstanding options written by the Fund would exceed 50% of its total assets. The Fund may not purchase Prohibition eliminated. participations or other direct interests in oil, gas, or other mineral exploration or development programs. The Fund may not invest in Prohibition eliminated. companies for the purpose of exercising control. The Fund may not purchase Policy eliminated. securities 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 make loans of The Fund may not make loans except its assets to any other person, through (i) the purchase of debt which shall not be considered as obligations in accordance with its including the purchase of a investment objectivesand policies; (ii) portion of an issue of publicly- the lending of Fund securities; (iii) the distributed debt securities; use of repurchase agreements; or (iv) the except that the Fund may purchase making of loans to affiliated funds as non-publicly distributed securities permitted under the 1940 Act, the rules subject to the limitations and regulations thereunder (as such applicable to restricted or not statutes, rule or regulations may be readily marketable securities and amended from time to time), or by guidance except for the lending of portfolio regarding, and interpretations of, or securities. exemptive orders under, the 1940 Act. The Fund may not borrow money except The Fund may not issue any senior security for the short-term credits from banks (as that term is defined in the 1940 Act) as may be necessary for the clearance or borrow money, except to the extent of purchases and sales of securities permitted by the 1940 Act or the rules and except for temporary or emergency and regulations thereunder (as such purposes and then only from banks and statute,rules or regulations may be in an aggregate amount not exceeding amended from time to time) or by guidance 5% of the value of its total assets at regarding,or interpretations of, or the time any borrowing is made. Money exemptive ordersunder, the 1940 Act borrowed by the Fund will be repaid or the rules or regulations thereunder before the Fund makes any additional published by appropriate regulatory investments. 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. Related non-fundamental policy: Related non-fundamental policy: Under the 1940 Act, the Fund may not Policy eliminated. invest in senior securities except as permitted by the 1940 Act or otherwise permitted by the Funds fundamental policies. The Fund will not invest more than Restriction eliminated. 15% of its net assets in aggregate in restricted securities and not readily marketable securities. Related non-fundamental policy: Related non-fundamental policy: The Fund will not invest more The Fund will limit its investment in than 15% of its net assets in illiquid securities to no more than 15% illiquid securities. of net assets or such other amount permitted by guidance regarding the 1940 Act. Non-fundamental Investment Policies: The Fund may invest in other The Fund may invest in the securities investment companies to the of other investment companies, including extent permitted by the 1940 Act. 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. The Fund may invest up to Restriction eliminated. 10% of its total assets in warrants. The Fund may make loans The Fund may lend Fund securities to the of portfolio securities of extent permitted under the 1940 Act or the up to 30% of its total assets. 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 also invest Policy eliminated. in debt securities. SK 00250 0073 656518 v