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Alliance Capital Management will debut its first fixed-annuity in concert with American International Group (AIG). Richard Winge, managing director of Alliance's insurance products group, said fixed-annuity sales exceeding $10 billion last year helped spark interest in developing a co-branded five-year fixed annuity contract with AIG. Winge described the move as an attempt to diversify Alliance's range of investment alternatives for individual investors rather than a retreat from its stock, bond and money market fund core competencies during a bear market, or an effort to placate market-weary investors who have sidelined their capital. "We're trying to round out a product line that we have for investors who are interested in guaranteed rates with no fluctuations," he said. Joe Norton, an AIG spokesman, did not return calls.