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                                                 Press Release



              ACM MANAGED DOLLAR INCOME FUND, INC.
              ANNOUNCES EXPIRATION OF TENDER OFFER
                     AND PRELIMINARY RESULTS

    NEW YORK, NY April 30, 2001 -- ACM Managed Dollar Income
Fund, Inc. (NYSE:ADF) (the "Fund") announced today its tender
offer for 1,110,972 of its issued and outstanding shares of
common stock representing approximately 5% of the Fund's
outstanding shares expired Friday, April 27, 2001 at 12:00
Midnight Eastern Time.  Shares tendered may be withdrawn at any
time prior to 5:00 P.M. Eastern Time on May 1, 2001.

    Based upon current information, approximately 433,450 shares
were tendered, of which approximately 131,053 shares were
tendered pursuant to notices of guaranteed delivery. These
numbers are subject to adjustment and should not be regarded as
final.  The actual number of shares to be purchased will be
announced at a later date.  Management of the Fund anticipates
acceptance on May 3, 2001 of 433,450 shares properly tendered and
not withdrawn and that payment for such shares will be made on
May 7, 2001.  The purchase price of properly tendered shares is
the net asset value per share determined as of the close of the
regular trading session of the New York Stock Exchange today.

    The Fund is a non-diversified, closed-end U.S. registered
management investment company managed by Alliance Capital
Management L.P.  As of April 27, 2001, the Fund's total net
assets were approximately $159 million.















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