Melissa Sharpe, Investors 629.213.5113 melissa.sharpe@alliancebernstein.com Jen Will, Media 212.969.1157 jen.will@alliancebernstein.com

AB Announces October 31, 2019 Assets Under Management

New York, NY, November 12, 2019 - AllianceBernstein L.P. (“AB”) and AllianceBernstein Holding L.P. (“AB Holding”) (NYSE: AB) today announced that preliminary assets under management increased to $601 billion during October 2019 from $592 billion at the end of September. The 1.5% increase was due to market appreciation, as well as total firmwide net inflows. By channel, net inflows to Retail exceeded net outflows from Institutions and Private Wealth.

AllianceBernstein L.P. (The Operating Partnership)
Assets Under Management ($ in Billions)
	At October 31, 2019								At Sep 30
									2019
					Private
	Institutions		Retail		Wealth		Total		Total
Equity
Actively Managed	$	40	$	76	$	49	$	165	$	160
Passive	25		33		—		58		57
Total Equity	65		109		49		223		217
Fixed Income
Taxable	157		85		12		254		253
Tax-Exempt	1		20		25		46		46
Passive	—		9		—		9		9
Total Fixed Income	158		114		37		309		308
Other(1)	52		5		12		69		67
Total	$	275	$	228	$	98	$	601	$	592
	At September 30, 2019
Total	$	272	$	223	$	97	$	592
(1) Includes certain multi-asset services and solutions and certain alternative investments.

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Cautions Regarding Forward-Looking Statements

Certain statements provided by management in this news release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. The most significant of these factors include, but are not limited to, the following: the performance of financial markets, the investment performance of sponsored investment products and separately-managed accounts, general economic conditions, industry trends, future acquisitions, integration of acquired companies, competitive conditions, and government regulations, including changes in tax regulations and rates and the manner in which the earnings of publicly-traded partnerships are taxed. AB cautions readers to carefully consider such factors. Further, such forward-looking statements speak only as of the date on which such statements are made; AB undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. For further information regarding these forward-looking statements and the factors that could cause actual results to differ, see “Risk Factors” and “Cautions Regarding Forward-Looking Statements” in AB’s Form 10-K for the year ended December 31, 2018 or subsequent Forms 10-Q. Any or all of the forward-looking statements made in this news release, Form 10-K, Form 10-Q, other documents AB files with or furnishes to the SEC and any other public statements issued by AB, may turn out to be wrong. It is important to remember that other factors besides those listed in “Risk Factors” and “Cautions Regarding Forward-Looking Statements”, and those listed above, could also adversely affect AB’s financial condition, results of operations and business prospects.

About AllianceBernstein

AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets.

As of September 30, 2019, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 35.4% of AllianceBernstein and AXA Equitable Holdings, Inc. ("EQH"), directly and through various subsidiaries, owned an approximate 65.3% economic interest in AllianceBernstein.

Additional information about AB may be found on our website, www.alliancebernstein.com.

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