Boards of Directors Approve the Acquisition of Assets of Alliance World Dollar Government Fund, Inc. by Alliance World Dollar Government II Fund, Inc

NEW YORK, Sept. 13 /PRNewswire-FirstCall/ -- The Boards of Directors of Alliance World Dollar Government Fund II, Inc. ("AWDGF II" - NYSE: AWF) and Alliance World Dollar Government Fund, Inc. ("AWDGF" - NYSE: AWG) have approved today a proposal of the acquisition of the assets and the assumption of the liabilities of AWDGF by AWDGF II (the "Acquisition"). The Acquisition is subject to approval by stockholders of AWDGF. A Special Meeting of Stockholders of AWDGF is scheduled to be held on Tuesday, December 12, 2006. The close of business on October 13, 2006 has been fixed as the record date for the Special Meeting of Stockholders. If approved by stockholders, the Acquisition is expected to take place in early 2007.

AWDGF and AWDGF II are non-diversified, closed-end U.S.-registered management investment companies. Both Funds are advised by AllianceBernstein L.P. As of September 8, 2006, the total net assets of AWDGF and AWDGF II were, $130,070,259, and $988,394,772, respectively.