EXHIBIT (a)(1)(v)

                      Form of Letter to Brokers, Dealers,
             Commercial Banks, Trust Companies and Other Nominees
                            Regarding the Offer by

                     ACM MANAGED DOLLAR INCOME FUND, INC.

         To Purchase for Cash 1,110,972 of its Issued and Outstanding
                      Shares at Net Asset Value Per Share

To Brokers, Dealers, Commercial Banks,
 Trust Companies and Other Nominees:

  Pursuant to your request, we are enclosing the material listed below
relating to the offer by ACM Managed Dollar Income Fund, Inc. (the "Fund") to
purchase 1,110,972 of its issued and outstanding shares of common stock, par
value $0.01 per share (the "Shares"), for cash at a price equal to their net
asset value ("NAV") determined as of the close of the regular trading session
of the New York Stock Exchange ("NYSE") on April 30, 2001 upon the terms and
subject to the conditions set forth in the Offer to Purchase dated April 2,
2001 and the related Letter of Transmittal (which together with any amendments
or supplements thereto collectively constitute the "Offer"). THE OFFER EXPIRES
AT 12:00 MIDNIGHT EASTERN TIME ON APRIL 27, 2001, UNLESS EXTENDED (THE
"EXPIRATION DATE"). If the Offer is extended beyond April 27, 2001, the
purchase price for Shares will be their NAV determined as of the close of the
regular trading session of the NYSE on the date after the new Expiration Date.

  The following documents are enclosed:

  (1) Offer to Purchase dated April 2, 2001;

  (2) Letter of Transmittal to be used to tender all Shares;

  (3) Notice of Guaranteed Delivery; and

  (4) Form of Letter to Clients, which may be sent upon request for
  information by your clients for whose account you hold shares registered in
  your name (or in the name of your nominee).

  No fees or commissions will be payable to brokers, dealers or other persons
for soliciting tenders of Shares pursuant to the Offer. The Fund will pay all
transfer taxes on its purchase of Shares, subject to Instruction 6 of the
Letter of Transmittal. Backup withholding tax at a 31% rate may be required
unless an exemption is proved or unless the required taxpayer identification
information is or has previously been provided to the Fund or the Depositary.
Certain withholdings may also apply with respect to payments to non-U.S.
Stockholders. See Instruction 11 of the Letter of Transmittal.

  The Offer is not being made to (nor will tenders be accepted from or on
behalf of) Stockholders in any jurisdiction in which the making of the Offer
or the acceptance thereof would not be in compliance with the laws of such
jurisdiction. In any jurisdiction where the securities, blue sky or other laws
require the Offer to be made by a licensed broker or dealer, the Offer shall
be deemed to be made on behalf of the Fund by one or more registered brokers
or dealers licensed under the laws of that jurisdiction.

  If a client instructs you by telephone to tender Shares, please record the
telephone conversation (in accordance with applicable law) and ask the client
to affirm that all Shares owned by such client as of the date of purchase of
Shares pursuant to the Offer and all Shares attributed to such client for
Federal income tax purposes as of such date under Section 318 of the Internal
Revenue Code of 1986, as amended, have been or will be tendered pursuant to
the Offer.

  Additional copies of the enclosed material may be obtained from Corporate
Investor Communications, Inc., the Distribution Agent, in the manner indicated
in the Offer to Purchase. Any questions you have with respect to the Offer
should be directed to EquiServe Trust Company, N.A., the Depositary, at (800)
426-5523.

                                         Very truly yours,

                                         ACM Managed Dollar Income Fund, Inc.

NOTHING CONTAINED HEREIN OR IN THE ENCLOSED DOCUMENTS SHALL CONSTITUTE YOU OR
ANY OTHER PERSON AS THE AGENT OF EITHER THE FUND OR THE DEPOSITARY OR
AUTHORIZE YOU OR ANY OTHER PERSON TO MAKE ANY STATEMENTS WITH RESPECT TO THE
OFFER, OTHER THAN THE STATEMENTS SPECIFICALLY SET FORTH IN THE OFFER TO
PURCHASE AND THE LETTER OF TRANSMITTAL, OR TO DISTRIBUTE ANY MATERIAL WITH
RESPECT TO THE OFFER OTHER THAN AS SPECIFICALLY AUTHORIZED HEREIN.