"AB" Alliance Capital Management L.P.

The words ?we? and ?our? in this Form 10-K refer collectively to Holding and  AllianceBernstein, or to their officers and employees. Similarly, the word  ?company? refers to both Holding and AllianceBernstein. Where the context  requires distinguishing between Holding and AllianceBernstein, we identify which  of them is being discussed. Cross-references are in italics.  We use ?global? in this Form 10-K to refer to all nations, including the United  States; we use ?international? or ?non-U.S.? to refer to nations other than the  United States.  We use ?emerging markets? in this Form 10-K to refer to countries considered to  be developing countries by the international financial community and countries  included in the MSCI emerging markets index.

 Aberdeen International Inc. (Aberdeen) is a global investment and merchant banking company focused on small capitalization companies in the resource sector. Aberdeen focuses to acquire equity participation in pre-initial public offering (IPO) and/or early stage public resource companies with undeveloped or undervalued high-quality resources; companies in need of managerial, technical and financial resources to realize their potential; companies undervalued in foreign capital markets, and companies operating in jurisdictions with low to moderate local political risk. Aberdeen’s primary investment objective is to realize exceptional earnings by investing in pre-IPO and/or early stage public resource companies with undeveloped or undervalued high quality resources. As of January 31, 2012, the Company’s investment portfolio consisted of Auger Resources Ltd., Brazil Potash Corp., Irati Energy Corp., Legacy Platinum Corp., Scandinavian Metals Inc. and Alderon Iron Ore Corp.

Stan Bharti		Executive Chairman of the Board
David M. Stein		President, Chief Executive Officer, Chief Operating Officer, Director
George D. Faught		Vice Chairman of the Board
Ryan Ptolemy		Chief Financial Officer, Corporate Secretary
Richard Bishop		Vice President - Investments
Michael L. Hoffman		Independent Director
Jean-Guy Lambert		Independent Director
Pierre S. Pettigrew		Independent Director
Bernard R. Wilson		Independent Director