NEW YORK, June 27 /PRNewswire-FirstCall/ -- ACM Managed Dollar Income Fund, Inc. (the "Fund") announced today that in accordance with its tender offer for up to 973,450 of its shares of common stock which expired on Friday, June 20, 2008 at 12:00 Midnight Eastern Time, the Fund has accepted that number of shares for payment at $7.86 per share. These shares represent approximately 5% of the Fund's outstanding shares. A total of 4,048,300 shares were properly tendered and not withdrawn prior to 5:00 p.m. Eastern Time on June 24, 2008, the final date for withdrawals. Therefore, on a pro rated basis, in accordance with the terms of the tender offer, approximately 24% of the shares so tendered by each tendering stockholder have been accepted for payment.
The purpose of the tender offer was to fulfill an undertaking made in connection with the initial public offering of the Fund's shares.
The Fund is a non-diversified, closed-end U.S. registered management investment company managed by AllianceBernstein L.P. As of June 20, 2008, the date on which the Fund's tender offer expired, the Fund's total net assets were approximately $153 million.
