AllianceBernstein (NYSE: AB), a leading global investment management firm, will host a conference call and webcast on Wednesday, June 27 at 2:00 PM to present the findings of a new whitepaper authored by General Counsel Laurence E. Cranch and Senior ERISA Counsel Daniel Notto, which argues that plan sponsors must consider and adapt to the rapid evolution in fiduciary duty standards in defined contribution plans.

During the call, Mr. Cranch and Mr. Notto will discuss the likely impact of evolving fiduciary duty standards on defined contribution plan sponsors. In addition, Sean Murphy, a partner in the Securities Litigation Group at Milbank Tweed Hadley & McCloy LLP, will share his perspective on the impact of current fee litigation on large plan sponsors.

“New thinking and information regarding optimal methods for encouraging employees to invest and maximize their returns, coupled with legislative and regulatory changes, are providing plan sponsors with a historic opportunity to dramatically improve the chances that their employees will save adequately for retirement,” said Mr. Cranch. “Plan sponsors should use this opportunity to make changes in their plan designs not only because it is in the best interest of their employees, but because they have a fiduciary responsibility to do so. There can be no doubt that fiduciary liability standards in this area are poised to evolve rapidly as a result of these changes.”

Under the Employee Retirement Income Security Act of 1974 (ERISA), defined contribution plan sponsors must act with prudence and look out for the best interests of their plan participants. As knowledge regarding investment management and its delivery improves, and better techniques and practices become widely accepted, AllianceBernstein argues that fiduciary responsibilities must constantly evolve as well.

In addition, ongoing litigation has put plan sponsors on notice that participants and their legal advisors expect plans to carefully consider investment options and management fees.

Conference Call Information

In order to participate in the call, U.S. participants should dial (866) 397-2265; International participants dial +1 (973) 935-8567. Enter the participant code 8901045.

A webcast will also be available by clicking: https://www.alliancebernstein.com/institutional/Registered/Article Detail.aspx?cid=45624 (The “Enter Meeting” page appears). To participate, type in your name where indicated and click “Join Meeting.“ (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)

About AllianceBernstein

AllianceBernstein L.P. ("AllianceBernstein") is a leading global investment management firm providing investment management services for many of the largest U.S. public and private employee benefit plans, foundations, public employee retirement funds, pension funds, endowments, banks, insurance companies and high-net-worth individuals worldwide. AllianceBernstein is also one of the largest mutual fund sponsors, with a diverse family of globally distributed mutual fund portfolios. Through its subsidiary, Sanford C. Bernstein & Co., LLC, AllianceBernstein provides in-depth research, portfolio strategy and trade execution to the institutional investment community.

As of March 31, 2007, AllianceBernstein Holding L.P. ("Holding") owned approximately 33.2% of the issued and outstanding AllianceBernstein Units. AXA Financial was the beneficial owner of approximately 62.9% of the AllianceBernstein Units as of March 31, 2007 (including those held indirectly through its ownership of approximately 1.7% of the issued and outstanding Holding Units) which, including the general partnership interests in AllianceBernstein and Holding, represent an approximate 63.3% economic interest in AllianceBernstein. AXA Financial is a wholly-owned subsidiary of AXA, one of the largest global financial services organizations.