-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AWjaIm8ReB4cH/3A+mjl34BaEfNEmuSXN3D8fWwRkFAdz82OX1L8Se8kgbBWGLMn NAbp41eov3kQWc3mYR96VQ== 0000936772-03-000337.txt : 20030829 0000936772-03-000337.hdr.sgml : 20030829 20030828214628 ACCESSION NUMBER: 0000936772-03-000337 CONFORMED SUBMISSION TYPE: N-CSR PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20030630 FILED AS OF DATE: 20030829 EFFECTIVENESS DATE: 20030829 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALLIANCEBERNSTEIN VARIABLE PRODUCTS SERIES FUND INC CENTRAL INDEX KEY: 0000825316 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-CSR SEC ACT: 1940 Act SEC FILE NUMBER: 811-05398 FILM NUMBER: 03872362 BUSINESS ADDRESS: STREET 1: 500 PLAZA DRIVE STREET 2: 1345 AVENUE OF THE AMERICAS 31ST FL CITY: NEW YORK STATE: NY ZIP: 10105 BUSINESS PHONE: 2013194105 MAIL ADDRESS: STREET 1: ALLIANCE CAPITAL MANGEMENT LP STREET 2: 1345 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10105 N-CSR 1 edg9269.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM N-CSR CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number: 811-05398 AllianceBernstein Variable Products Series Fund, Inc. (Exact name of registrant as specified in charter) 1345 Avenue of the Americas, New York, New York 10105 (Address of principal executive offices) (Zip code) Edmund P. Bergan, Jr. Alliance Capital Management, L.P. 1345 Avenue of the Americas New York, New York 10105 (Name and address of agent for service) Registrant?s telephone number, including area code: (800) 221-5672 Date of fiscal year end: December 31, 2003 Date of reporting period: June 30, 2003 ITEM 1. REPORTS TO STOCKHOLDERS. ALLIANCEBERNSTEIN VARIABLE PRODUCTS SERIES FUND ALLIANCEBERNSTEIN MONEY MARKET PORTFOLIO SEMI-ANNUAL REPORT JUNE 30, 2003 INVESTMENT PRODUCTS OFFERED - --------------------------- > ARE NOT FDIC INSURED > MAY LOSE VALUE > ARE NOT BANK GUARANTEED - --------------------------- MONEY MARKET PORTFOLIO PORTFOLIO OF INVESTMENTS June 30, 2003 (unaudited) AllianceBernstein Variable Products Series Fund _______________________________________________________________________________ Principal Amount Company (000) U.S. $ Value - ------------------------------------------------------------------------------- COMMERCIAL PAPER-83.0% Allied Irish Banks Plc 1.245%, 7/15/03 $ 2,200 $ 2,198,935 American General Finance Corp., Ltd. 0.93%, 7/25/03 4,600 4,597,148 Amstel Funding Corp. 1.05%, 12/29/03 2,000 1,989,442 AWB Finance, Ltd. 1.25%, 7/11/03 2,000 1,999,306 Beta Finance Corp., Ltd. 1.12%, 9/10/03 4,000 3,991,164 Caisse Centrale Desjardins du Quebec 1.24%, 7/16/03 2,000 1,998,967 CDC Commercial Paper 0.97%, 8/04/03 5,000 4,995,420 Clipper Receivables Corp. 1.24%, 9/05/03 5,000 4,988,633 Colgate-Palmolive Co. 1.00%, 7/31/03 2,000 1,998,333 Concord Minutemen Capital Co. LLC 1.00%, 8/22/03 2,000 1,997,111 Corporate Receivables Corp. 1.13%, 8/07/03 5,000 4,994,193 Danske Corp. 1.22%, 7/07/03 2,100 2,099,573 1.26%, 7/01/03 2,000 2,000,000 Delaware Funding Corp. 0.98%, 7/23/03 1,500 1,499,102 Den Norske Bank ASA 1.25%, 7/07/03 1,900 1,899,604 Depfa Bank Europe Plc 1.05%, 9/24/03 2,000 1,995,042 Dexia Delaware LLC 1.05%, 9/30/03 1,500 1,496,019 Edison Asset Security LLC 1.14%, 8/07/03 5,000 4,994,142 Galaxy Funding, Inc. 1.26%, 7/07/03 2,000 1,999,580 Giro Balanced Funding Corp. 1.24%, 7/15/03 4,000 3,998,071 Hbos Treasury Services Plc 1.10%, 9/09/03 5,000 4,989,306 HSBC USA, Inc. 1.25%, 9/22/03 1,000 997,118 Jupiter Securitization Corp. 1.15%, 7/11/03 2,000 1,999,361 Nordeutsche Landesbank 1.24%, 7/14/03 5,000 4,997,761 Old Line Funding Corp. 1.12%, 7/15/03 2,000 1,999,129 Prudential Plc 1.25%, 7/25/03 2,000 1,998,333 Rabobank Nederland 1.31%, 7/01/03 5,000 5,000,000 San Paolo-IMI U.S. Financial Co. 1.05%, 9/08/03 2,000 1,995,975 Scaldis Capital LLC 1.22%, 9/26/03 2,000 1,994,103 Steamboat Funding Corp. 1.09%, 7/18/03 5,000 4,997,426 Toronto Dominion Holdings USA 1.01%, 9/16/03 2,000 1,995,679 Toyota Motor Credit Corp. 1.13%, 7/18/03 3,000 2,998,399 1.20%, 7/16/03 1,230 1,229,385 UBS Finance, Inc. 1.31%, 7/01/03 5,000 5,000,000 Verizon Network Funding Corp. 0.94%, 8/13/03 2,000 1,997,755 Yorktown Capital, LLC 0.95%, 8/06/03 5,000 4,995,250 ------------- TOTAL COMMERCIAL PAPER (amortized cost $106,914,765) 106,914,765 ------------- U.S. GOVERNMENT AGENCY OBLIGATIONS-17.0% Federal Home Loan Bank 0.91%, 9/27/04 FRN 10,000 9,995,019 0.95%, 7/01/03 2,900 2,900,000 1.225%, 7/06/04 2,000 2,000,000 Federal Naional Mortgage Association 1.11%, 7/06/04 2,000 2,000,000 1.38%, 5/07/04 3,000 3,000,000 1.40%, 4/19/04 2,000 2,000,000 ------------- Total U.S. Government Agency Obligations (amortized cost $21,895,019) 21,895,019 ------------- CERTIFICATES OF DEPOSIT-1.6% The Bank of New York Co., Inc. 2.54%, 7/07/03 (amortized cost $2,000,420) 2,000 2,000,420 ------------- CORPORATE OBLIGATIONS-1.5% Canadian Imperial Bank 1.23%, 10/30/03 FRN (amortized cost $1,999,865) 2,000 1,999,865 ------------- TOTAL INVESTMENTS-103.1% (cost $132,810,069) 132,810,069 Other assets less liabilities-(3.1%) (4,015,323) ------------- NET ASSETS-100% $ 128,794,746 ============= Glossary: FRN - Floating Rate Note See Notes to Financial Statements. 1 MONEY MARKET PORTFOLIO STATEMENT OF ASSETS AND LIABILITIES June 30, 2003 (unaudited) AllianceBernstein Variable Products Series Fund _______________________________________________________________________________ ASSETS Investments in securities, at value (cost $132,810,069) $ 132,810,069 Interest receivable 84,040 ------------- Total assets 132,894,109 ------------- LIABILITIES Due to custodian 3,909,712 Advisory fee payable 52,110 Dividends payable 51,191 Distribution fee payable 11,992 Accrued expenses 74,358 ------------- Total liabilities 4,099,363 ------------- NET ASSETS $ 128,794,746 ============= COMPOSITION OF NET ASSETS Capital stock, at par $ 128,795 Additional paid-in capital 128,666,039 Accumulated net realized loss on investment transactions (88) ------------- $ 128,794,746 ============= Class A Shares Net assets $ 72,222,555 ============= Shares of capital stock outstanding 72,220,973 ============= Net asset value per share $ 1.00 ============= Class B Shares Net assets $ 56,572,191 ============= Shares of capital stock outstanding 56,574,192 ============= Net asset value per share $ 1.00 ============= See Notes to Financial Statements. 2 MONEY MARKET PORTFOLIO STATEMENT OF OPERATIONS Six Months Ended June 30, 2003 (unaudited) AllianceBernstein Variable Products Series Fund _______________________________________________________________________________ INVESTMENT INCOME Interest $ 922,380 ------------- EXPENSES Advisory fee 356,875 Distribution fee--Class B 72,459 Administrative 37,500 Custodian 33,600 Audit and legal 16,615 Printing 5,322 Transfer agency 474 Directors' fees and expenses 461 Miscellaneous 10,875 ------------- Total expenses 534,181 ------------- Net investment income 388,199 ------------- REALIZED LOSS ON INVESTMENT TRANSACTIONS Net realized loss on investment transactions (16) ------------- NET INCREASE IN NET ASSETS FROM OPERATIONS $ 388,183 ============= See Notes to Financial Statements. 3 MONEY MARKET PORTFOLIO STATEMENT OF CHANGES IN NET ASSETS AllianceBernstein Variable Products Series Fund _______________________________________________________________________________ Six Months Ended Year Ended June 30, 2003 December 31, (unaudited) 2002 -------------- -------------- INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS Net investment income $ 388,199 $ 1,674,782 Net realized loss on investment transactions (16) (72) -------------- -------------- Net increase in net assets from operations 388,183 1,674,710 DIVIDENDS TO SHAREHOLDERS FROM Net investment income Class A (273,851) (1,243,462) Class B (114,805) (437,943) CAPITAL STOCK TRANSACTIONS Net decrease (20,737,025) (28,322,498) -------------- -------------- Total decrease (20,737,498) (28,329,193) NET ASSETS Beginning of period 149,532,244 177,861,437 -------------- -------------- End of period (including undistributed net investment income of $457 at December 31, 2002) $ 128,794,746 $ 149,532,244 ============== ============== See Notes to Financial Statements. 4 MONEY MARKET PORTFOLIO NOTES TO FINANCIAL STATEMENTS June 30, 2003 (unaudited) AllianceBernstein Variable Products Series Fund _______________________________________________________________________________ NOTE A: Significant Accounting Policies The AllianceBernstein Money Market Portfolio (the "Portfolio"), formerly Alliance Money Market Portfolio, is a series of AllianceBernstein Variable Products Series Fund, Inc. (the "Fund"), formerly Alliance Variable Products Series Fund, Inc. The Portfolio's investment objective is to seek safety of principal, excellent liquidity and maximum current income to the extent consistent with the first two objectives. The Fund was incorporated in the State of Maryland on November 17, 1987, as an open-end series investment company. The Fund offers twenty separately managed pools of assets which have differing investment objectives and policies. The Portfolio offers Class A and Class B shares. Both classes of shares have identical voting, dividend, liquidating and other rights, except that Class B shares bear a distribution expense and have exclusive voting rights with respect to the Class B distribution plan. The Portfolio offers and sells its shares only to separate accounts of certain life insurance companies for the purpose of funding variable annuity contracts and variable life insurance policies. Sales are made without a sales charge at the Portfolio's net asset value per share. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States which require management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements and amounts of income and expenses during the reporting period. Actual results could differ from those estimates. Additional information about some of the items discussed in these Notes to Financial Statements is contained in the Fund's Statement of Additional Information, which is available upon request. The following is a summary of significant accounting policies followed by the Portfolio. 1. Security Valuation Securities in which the Portfolio invests are valued at amortized cost which approximates fair value, under which method a portfolio instrument is valued at cost and any premium or discount is amortized on a straight-line basis to maturity. 2. Taxes It is the Portfolio's policy to meet the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute all of its investment company taxable income and net realized gains, if any, to shareholders. Therefore, no provisions for federal income or excise taxes are required. 3. Investment Income and Investment Transactions Dividend income is recorded on the ex-dividend date. Interest income is accrued daily. Investment transactions are accounted for on the date securities are purchased or sold. Investment gains and losses are determined on the identified cost basis. The Portfolio amortizes premiums and accretes discounts as adjustments to interest income. 4. Income and Expenses Expenses attributable to a single portfolio are charged to that portfolio. Expenses of the Fund are charged to each portfolio in proportion to net assets. All income earned and expenses incurred by a portfolio with multi-class shares outstanding are borne on a pro-rata basis by each outstanding class of shares, based on the proportionate interest in the portfolio represented by the net assets of such class, except that the portfolio's Class B shares bear the distribution fees. 5. Dividends and Distributions The Portfolio declares dividends daily from net investment income. The dividends are paid monthly. Net realized gains distributions, if any, will be made at least annually. Income dividends and capital gains distributions to shareholders are recorded on the ex-dividend date. Income dividends and capital gains distributions are determined in accordance with federal tax regulations and may differ from those determined in accordance with accounting principles generally accepted in the United States. To the extent these differences are permanent, such amounts are reclassified within the capital accounts based on their federal tax basis treatment; temporary differences do not require such reclassification. NOTE B: Advisory Fee and Other Transactions with Affiliates Under the terms of an investment advisory agreement, the Portfolio pays Alliance Capital Management L.P. (the "Adviser"), an investment advisory fee at an annual rate of .50 of 1% of the Portfolio's average daily net assets. Such fee is accrued daily and paid monthly. Prior to May 1, 2003, the Adviser agreed to waive its fee and to reimburse the additional operating expenses ("Expense Limitation Undertaking") to the extent necessary to limit total operating expenses on an annual basis to .95% and 1.20% of the average daily net assets for Class A and Class B shares, respectively. The Adviser terminated the Expense Limitation Undertaking effective May 1, 2003. Any expense waivers or reimbursements were accrued daily and paid monthly. For the six months ended June 30, 2003, the Portfolio received no such waivers/reimbursements. 5 MONEY MARKET PORTFOLIO NOTES TO FINANCIAL STATEMENTS (continued) AllianceBernstein Variable Products Series Fund _______________________________________________________________________________ Pursuant to the advisory agreement, the Portfolio paid $37,500 to the Adviser representing the cost of certain legal and accounting services provided to the Portfolio by the Adviser for the six months ended June 30, 2003. The Portfolio compensates Alliance Global Investor Services, Inc., a wholly-owned subsidiary of the Adviser, under a Transfer Agency Agreement for providing personnel and facilities to perform transfer agency services for the Portfolio. Such compensation amounted to $474 for the six months ended June 30, 2003. NOTE C: Distribution Plan The Portfolio has adopted a Distribution Plan (the "Plan") for Class B shares pursuant to Rule 12b-1 under the Investment Company Act of 1940. Under the Plan, the Portfolio pays distribution and servicing fees to AllianceBernstein Investment Research and Management, Inc., (the "Distributor"), formerly Alliance Fund Distributors, Inc., a wholly-owned subsidiary of the Adviser, at an annual rate of up to .50 of 1% of the Portfolio's average daily net assets attributable to Class B shares. The fees are accrued daily and paid monthly. The Board of Directors currently limits payments under the Plan to .25 of 1% of the Portfolio's average daily net assets attributable to Class B shares. The Plan provides that the Distributor will use such payments in their entirety for distribution assistance and promotional activities. The Portfolio is not obligated under the Plan to pay any distribution and servicing fees in excess of the amounts set forth above. The purpose of the payments to the Distributor under the Plan is to compensate the Distributor for its distribution services with respect to the sale of the Portfolio's Class B shares. Since the Distributor's compensation is not directly tied to its expenses, the amount of compensation received by it under the Plan during any year may be more or less than its actual expenses. For this reason, the Plan is characterized by the staff of the Securities and Exchange Commission as being of the "compensation" variety. In the event that the Plan is terminated or not continued, no distribution and servicing fees (other than current amounts accrued but not yet paid) would be owed by the Portfolio to the Distributor. The Plan also provides that the Adviser may use its own resources to finance the distribution of the Portfolio's shares. NOTE D: Investment Transactions At June 30, 2003, the cost of investments for federal income tax purposes was the same as the cost for financial reporting purposes. NOTE E: Distributions to Shareholders The tax character of distributions to be paid for the year ending December 31, 2003 will be determined at the end of the current fiscal year. The tax character of distributions paid during the fiscal years ended December 31, 2002 and December 31, 2001 were as follows: 2002 2001 ------------- ------------- Distributions paid from: Ordinary income $ 1,681,405 $ 5,699,356 ------------- ------------- Total distributions paid $ 1,681,405 $ 5,699,356 ============= ============= As of December 31, 2002, the components of accumulated earnings/(deficit) on a tax basis were as follows: Undistributed ordinary income $ 457 Accumulated capital and other losses (72)(a) ------------- Total accumulated earnings/(deficit) $ 385 ============= (a) On December 31, 2002, the Portfolio had a net capital loss carryforward of $72 all of which will expire in the year 2010. To the extent future capital gains are offset by capital loss carryforwards, such gains will not be distributed. 6 AllianceBernstein Variable Products Series Fund _______________________________________________________________________________ NOTE F: Capital Stock There are 2,000,000,000 shares of $.001 par value capital stock authorized, divided into two classes, designated Class A and Class B shares. Each class consists of 1,000,000,000 authorized shares. Transactions in capital stock were as follows: SHARES AMOUNT --------------------------- ------------------------------ Six Months Ended Year Ended Six Months Ended Year Ended June 30, 2003 December 31, June 30, 2003 December 31, (unaudited) 2002 (unaudited) 2002 ------------ ------------ -------------- -------------- CLASS A Shares sold 16,278,666 132,042,828 $ 16,278,666 $ 132,042,828 Shares issued in reinvestment of dividends 273,851 1,243,462 273,851 1,243,462 Shares redeemed (41,545,812) (164,765,799) (41,545,812) (164,765,799) ----------- ----------- ------------ ------------- Net decrease (24,993,295) (31,479,509) $(24,993,295) $ (31,479,509) =========== =========== ============ ============= CLASS B Shares sold 59,849,740 142,682,740 $ 59,849,740 $ 142,682,740 Shares issued in reinvestment of dividends 114,805 437,943 114,805 437,943 Shares redeemed (55,708,275) (139,963,672) (55,708,275) (139,963,672) ----------- ----------- ------------ ------------- Net increase 4,256,270 3,157,011 $ 4,256,270 $ 3,157,011 =========== =========== ============ ============= 7 MONEY MARKET PORTFOLIO FINANCIAL HIGHLIGHTS AllianceBernstein Variable Products Series Fund _______________________________________________________________________________ Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period
CLASS A ---------------------------------------------------------------------------- Six Months Ended Year Ended December 31, June 30, 2003 --------------------------------------------------------------- (unaudited) 2002 2001 2000 1999 1998 ----------- ----------- ----------- ----------- ----------- ----------- Net asset value, beginning of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 INCOME FROM INVESTMENT OPERATIONS Net investment income -0-(a) .01 .04 .06 .05 .05 LESS: DIVIDENDS Dividends from net investment income -0-(a) (.01) (.04) (.06) (.05) (.05) Net asset value, end of period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 TOTAL RETURN Total investment return based on net asset value (b) .32% 1.10% 3.57% 5.91% 4.69% 4.98% RATIOS/SUPPLEMENTAL DATA Net assets, end of period (000's omitted) $72,223 $97,216 $128,700 $146,270 $134,467 $119,574 Ratio to average net assets of: Expenses .65%(c) .68% .63% .67% .64% .68% Net investment income .65%(c) 1.10% 3.55% 5.73% 4.59% 4.84%
See footnote summary on page 9. 8 AllianceBernstein Variable Products Series Fund _______________________________________________________________________________ Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period
CLASS B ----------------------------------------------------------------- Six Months June 16, Ended Year Ended December 31, 1999(d) to June 30, 2003 ------------------------------------- December 31, (unaudited) 2002 2001 2000 1999 ----------- ----------- ----------- ----------- ----------- Net asset value, beginning of period $1.00 $1.00 $1.00 $1.00 $1.00 INCOME FROM INVESTMENT OPERATIONS Net investment income -0-(a) .01 .03 .05 .02 LESS: DIVIDENDS Dividends from net investment income -0-(a) (.01) (.03) (.05) (.02) Net asset value, end of period $1.00 $1.00 $1.00 $1.00 $1.00 TOTAL RETURN Total investment return based on net asset value (b) .20% .85% 3.32% 5.65% 2.52% RATIOS/SUPPLEMENTAL DATA Net assets, end of period (000's omitted) $56,572 $52,316 $49,161 $9,758 $1,163 Ratio to average net assets of: Expenses .90%(c) .93% .90% .95% .89%(c) Net investment income .40%(c) .85% 2.60% 5.64% 4.71%(c)
(a) Amount is less than $.01 per share. (b) Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption on the last day of the period. Total return does not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or the redemption of Portfolio shares. Total investment return calculated for a period of less than one year is not annualized. (c) Annualized. (d) Commencement of distribution. 9 MONEY MARKET PORTFOLIO AllianceBernstein Variable Products Series Fund _______________________________________________________________________________ BOARD OF DIRECTORS John D. Carifa, Chairman and President Ruth Block (1) David H. Dievler (1) John H. Dobkin (1) William H. Foulk, Jr. (1) Clifford L. Michel (1) Donald J. Robinson (1) OFFICERS Kathleen A. Corbet, Senior Vice President Lewis A. Sanders, Senior Vice President Andrew S. Adelson, Vice President Andrew Aran, Vice President Bruce K. Aronow, Vice President Edward D. Baker III, Vice President Thomas J. Bardong, Vice President Matthew D.W. Bloom, Vice President Russell Brody, Vice President Frank V. Caruso, Vice President John F. Chiodi, Vice President Paul J. DeNoon, Vice President Joseph C. Dona, Vice President Marilyn G. Fedak, Vice President Thomas Kamp, Vice President Sean Kelleher, Vice President David A. Kruth, Vice President Alan E. Levi, Vice President Michael Levy, Vice President Gerald T. Malone, Vice President Michael Mon, Vice President Ranji H. Nagaswami, Vice President Daniel Nordby, Vice President Jimmy K. Pang, Vice President Raymond J. Papera, Vice President Joseph G. Paul, Vice President Douglas J. Peebles, Vice President Jeffrey S. Phlegar, Vice President Daniel G. Pine, Vice President Michael J. Reilly, Vice President Paul C. Rissman, Vice President Ivan Rudolph-Shabinsky, Vice President Kevin F. Simms, Vice President Michael A. Snyder, Vice President Annie Tsao, Vice President Jean Van De Walle, Vice President Richard A. Winge, Vice President Sandra Yeager, Vice President Edmund P. Bergan, Jr., Secretary Mark D. Gersten, Treasurer and Chief Financial Officer Thomas R. Manley, Controller CUSTODIAN State Street Bank and Trust Company 225 Franklin Street Boston, MA 02110 DISTRIBUTOR AllianceBernstein Investment Research and Management, Inc. 1345 Avenue of the Americas New York, NY 10105 INDEPENDENT AUDITORS Ernst & Young LLP 5 Times Square New York, NY 10036 LEGAL COUNSEL Seward & Kissel One Battery Park Plaza New York, NY 10004 TRANSFER AGENT Alliance Global Investor Services, Inc. P.O. Box 786003 San Antonio, TX 78278-6003 Toll-free 1-(800) 221-5672 (1) Member of the Audit Committee. 10 (This page left intentionally blank.) (This page left intentionally blank.) (This page left intentionally blank.) ITEM 2. CODE OF ETHICS. Not applicable when filing a Semi-Annual report to shareholders. ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT. Not applicable when filing a Semi-Annual report to shareholders. ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES. Not applicable when filing a Semi-Annual report to shareholders. ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS. Not applicable to the registrant. ITEM 6. [RESERVED] ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. Not applicable to the registrant. ITEM 8. [RESERVED] ITEM 9. CONTROLS AND PROCEDURES. (a) The registrant?s principal executive officer and principal financial officer have concluded that the registrant?s disclosure controls and procedures (as defined in Rule 30a-2(c) under the Investment Company Act of 1940, as amended) are effective at the reasonable assurance level based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document. (b) There were no significant changes in the registrant?s internal controls that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. ITEM 10. EXHIBITS. The following exhibits are attached to this Form N-CSR: EXHIBIT NO. DESCRIPTION OF EXHIBIT 10 (b) (1) Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 10 (b) (2) Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 10 (c) Certification of Principal Executive Officer and Principal Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant): AllianceBernstein Variable Products Series Fund, Inc. By: /s/John D. Carifa ------------------------------- John D. Carifa President Date: August 22, 2003 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/John D. Carifa ---------------------------------- John D. Carifa President Date: August 22, 2003 By: /s/Mark D. Gersten ---------------------------------- Mark D. Gersten Treasurer and Chief Financial Officer Date: August 22, 2003 EX-99.CERT 3 ex-99certb.txt Exhibit 10(b)(1) CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER I, John D. Carifa, certify that: 1. I have reviewed this report on Form N-CSR (the ?Report?) of AllianceBernstein Variable Products Series Fund, Inc. (the ?Fund?); 2. Based on my knowledge, this Report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this Report; 3. Based on my knowledge, the financial statements and other financial information included in this Report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Fund as of, and for, the periods presented in this Report; 4. The Fund?s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) for the Fund and have: a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Fund, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this Report is being prepared; b) evaluated the effectiveness of the Fund?s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this Report based on such evaluation; and c) disclosed in this Report any change in the Fund?s internal control over financial reporting that occurred during the Fund?s most recent fiscal half-year [or second fiscal half-year in the case of an annual report] that has materially affected, or is reasonably likely to materially affect, the Fund?s internal control over financial reporting; and 5. The Fund?s other certifying officer and I have disclosed to the Fund?s auditors and the audit committee of the Fund?s board of directors: a) all significant deficiencies in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Fund?s ability to record, process, summarize, and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the Fund?s internal controls. Date: August 22, 2003 /s/John D. Carifa ------------------------ John D. Carifa Chairman and President Exhibit 10(b)(2) CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER I, Mark D. Gersten, certify that: 1. I have reviewed this report on Form N-CSR (the ?Report?) of AllianceBernstein Variable Products Series Fund, Inc. (the ?Fund?); 2. Based on my knowledge, this Report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this Report; 3. Based on my knowledge, the financial statements and other financial information included in this Report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Fund as of, and for, the periods presented in this Report; 4. The Fund?s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) for the Fund and have: a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Fund, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this Report is being prepared; b) evaluated the effectiveness of the Fund?s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this Report based on such evaluation; and c) disclosed in this Report any change in the Fund?s internal control over financial reporting that occurred during the Fund?s most recent fiscal half-year [or second fiscal half-year in the case of an annual report] that has materially affected, or is reasonably likely to materially affect, the Fund?s internal control over financial reporting; and 5. The Fund?s other certifying officer and I have disclosed to the Fund?s auditors and the audit committee of the Fund?s board of directors: a) all significant deficiencies in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Fund?s ability to record, process, summarize, and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the Fund?s internal controls. Date: August 22, 2003 /s/Mark D. Gersten --------------------------- Mark D. Gersten Treasurer and Chief Financial Officer EX-99.906 CERT 4 ex-99906c.txt Exhibit 10(c) CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT Pursuant to 18 U.S.C. 1350, each of the undersigned, being the Principal Executive Officer and Principal Financial Officer of AllianceBernstein Variable Products Series Fund, Inc. (the "Registrant"), hereby certifies that the Registrant's report on Form N-CSR for the period ended June 30, 2003 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant. Date: August 22, 2003 By: /s/John D. Carifa --------------------------------- John D. Carifa Chairman and President By: /s/Mark D. Gersten ---------------------------------- Mark D. Gersten Treasurer and Chief Financial Officer This certification is being furnished solely pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and is not being filed as part of the Report or as a separate disclosure document. A signed original of this written statement required by Section 906 has been provided to the Registrant and will be retained by the Registrant and furnished to the Securities and Exchange Commission or its staff upon request. -----END PRIVACY-ENHANCED MESSAGE-----