ALLIANCE FIRST FUND RANKED BEST PERFORMING FUND

Kuala Lumpur, 12 February 2007 - Alliance First Fund (AFF), managed by Alliance Unit Trust (AUT) Management Berhad has been ranked as "Best Performing Fund" under the Mixed Asset Balanced 10-year category ended December 2006 by Lipper Asia Ltd, an independent rating agency. The Fund had also previously won other awards from Lipper Asia Ltd and Standard and Poor's, another independent rating agency.

Bridget Lai, Group Chief Executive Officer of Alliance Banking Group said, "Naturally we are delighted with the honour of AFF being awarded "Best Performing Fund" under the 10-year category. AFF is among AUT's first funds to be launched and has now received this award distinction, testifies to its long term value."

The attractiveness of AFF lies in its balanced approach. The Fund's investment strategy includes fixed-income securities such as money market deposits, corporate bonds and loan stocks, thus providing AFF with a lower volatility compared to wholly equity funds. In the last ten years to 31 December 2006, the Fund has returned 53.7% despite the severe market meltdown experienced during the Asian Financial Crisis which had resulted in the KLCI giving -11.4% returns in the same period.

An income and growth fund under the balanced category, AFF was launched in January 1996 with the aim of providing medium to long-term investors with a reasonable level of income and capital growth. Since inception, the Fund has been consistently paying out dividends and had recently declared an income distribution of 3.2 sen per unit for its investors for the year ended 31 December 2006.

AFF is one of the nine funds under AUT's management. Aside from consistent dividend distribution to investors, the Fund also provides complimentary insurance coverage on the basis of RM1.00 for every unit invested and the coverage is determined by the total units held at any one time subject to a maximum of RM100,000 and certain terms and conditions.

Investors who are interested in a balanced growth over medium to long term can invest in AFF with a minimum initial investment of RM1,000 for Cash Plan and RM500 for Savings Plan. The Fund allows four (4) free switching per calendar year and there is no exit fee.

AFF is available at all Alliance Bank branches, AUT Tied-Agents and third party distributors such as HSBC, Standard Chartered Bank, Affin Bank, RHB Unit Trust and AmPrivate Banking.

For enquiries or a copy of the Master Prospectus, please call AUT's customer service hotline number at 1800-88-3065.

-- Press Release