NEW YORK, Aug. 21 /PRNewswire-FirstCall/ -- At a Special Meeting of Stockholders of ACM Managed Dollar Income Fund, Inc. ("ACM Managed Dollar" - NYSE: ADF) held today, the stockholders of ACM Managed Dollar approved the acquisition of the assets and the assumption of the liabilities of ACM Managed Dollar by AllianceBernstein Global High Income Fund, Inc. ("AllianceBernstein Global High Income" - NYSE: AWF) (the "Acquisition").
It is anticipated that the Acquisition will occur in the third quarter of 2009. As a result of the Acquisition, each holder of ACM Managed Dollar common stock will receive shares of AllianceBernstein 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. Common stockholders will receive cash in lieu of any AllianceBernstein Global High Income fractional shares.
There may be a final distribution of income and/or capital gains for ACM Managed Dollar and/or AllianceBernstein Global High Income made prior to the Acquisition.
ACM Managed Dollar and AllianceBernstein Global High Income are diversified, closed-end U.S.-registered management investment companies. Both Funds are advised by AllianceBernstein L.P. As of August 20, 2009, the total net assets of ACM Managed Dollar and AllianceBernstein Global High Income were $109,853,444 and $944,144,189, respectively.
AllianceBernstein Global High Income Fund, Inc.
CONTACT: Shareholder Contact: +1-800-221-5672
