ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND, INC. REPORTS FIRST QUARTER EARNINGS

NEW YORK, March 25, 2022 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB), a registered closed‑end investment company, today announced earnings for the Fund's first fiscal quarter ended January 31, 2022.

Total net assets of the Fund* on January 31, 2022 were $422,744,994 as compared with $438,682,698 on October 31, 2021, and $448,543,964 on January 31, 2021. On January 31, 2022, the net asset value per share of common stock was $14.71 based on 28,744,936 shares of common stock outstanding.

	January 31, 2022	October 31, 2021	January 31, 2021
Total Net Assets	$422,744,994	$438,682,698	$448,543,964
NAV Per Share	$14.71	$15.26	$15.60
Shares Outstanding	28,744,936	28,744,936	28,744,936

For the period November 1, 2021 through January 31, 2022, total net investment income was $4,421,682 or $0.15 per share of common stock. The total net realized and unrealized loss was ($15,766,520) or ($0.55) per share of common stock for the same period.

	First Quarter Ended January 31, 2022	Fourth Quarter Ended October 31, 2021	First Quarter Ended January 31, 2021
Total Net Investment          Income	$4,421,682	$4,447,825	$4,596,447
Per Share	$0.15	$0.15	$0.16
Total Net Realized/   Unrealized Gain (Loss)	($15,766,520)	($12,929,031)	$19,115,976
Per Share	($0.55)	($0.45)	$0.67

* Total net assets include assets attributable to both common and preferred shares.

AllianceBernstein National Municipal Income Fund, Inc. is managed by AllianceBernstein L.P.

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SOURCE AllianceBernstein National Municipal Income Fund, Inc.