ACM Managed Dollar Income Fund, Inc. Announces Closing of Acquisition of the Fund by AllianceBernstein Global High Income Fund, Inc.

NEW YORK, Sept. 25 /PRNewswire-FirstCall/ -- ACM Managed Dollar Income Fund, Inc. ("ACM Managed Dollar"; NYSE: ADF) announced today that the acquisition of the assets and the assumption of the liabilities of ACM Managed Dollar by AllianceBernstein Global High Income Fund, Inc. ("Global High Income"; NYSE: AWF) (the "Acquisition") took place as of the close of business on September 25, 2009.

As a result of the Acquisition, each holder of ACM Managed Dollar common stock received shares of Global High Income common stock having an aggregate net asset value ("NAV") equal to the aggregate NAV of the stockholder's shares in ACM Managed Dollar. As of the close of business on September 25, 2009, the NAV of ACM Managed Dollar was $7.79 per share and the NAV of Global High Income was $13.37 per share. Each share of common stock of ACM Managed Dollar was converted into .5826 of a share of Global High Income common stock. Common stockholders participating in ACM Managed Dollar's dividend reinvestment plan received full and fractional Global High Income shares. Other common stockholders received cash in lieu of fractional shares.

SOURCE ACM Managed Dollar Income Fund, Inc.