NEW YORK, May 29 /PRNewswire-FirstCall/ -- ACM Managed Dollar Income Fund, Inc. (NYSE:ADF) (the "Fund") announced today that the Fund has increased the tender offer for its shares from 924,778 shares of its common stock representing approximately 5% of the Fund's outstanding shares, to 3,329,202 shares, representing approximately 18% of the Fund's outstanding shares. The Fund has extended the expiration date of its tender offer to 12:00 Midnight, Eastern Time, on June 11, 2009. The tender offer was previously scheduled to expire at 12:00 Midnight, Eastern Time, on June 1, 2009. The net asset value used to determine the price per share has been changed and will be the net asset value as of the close of the regular trading session of the Exchange on June 12, 2009, the first business day following the new Expiration Date. All other terms and conditions of the offer as set forth in the Fund's Offer to Purchase, dated May 4, 2009, and the related Letter of Transmittal remain the same.
The Letter of Transmittal previously furnished to investors should be used to tender shares. The Letter of Transmittal is deemed amended to include the changes set forth above. A Letter of Transmittal incorporating the changes set forth above will not be printed and distributed.
As of 5:00 p.m., Eastern Time, on May 28, 2009, approximately 708,000 shares of the Fund had been tendered to the Fund. On May 28, 2009, the net asset value of a share of the Fund was $6.69 per share and the per share market price on the Exchange was $5.92, representing an 11.51% discount from net asset value.
This announcement is not an offer to purchase or solicitation of an offer to sell shares of the Fund. The offer is made only by the Offer to Purchase and the related Letter of Transmittal. As a result of the extension, the Fund has promptly filed with the Securities and Exchange Commission amendments to its tender offer documents. The amendments and other filed documents are available to investors for free both at the website of the Securities and Exchange Commission and from the Fund.
The Fund is a non-diversified, closed-end U.S. registered management investment company whose investment adviser is AllianceBernstein L.P. As of May 28, 2009, the Fund's total net assets were approximately $123,805,628. DATASOURCE: ACM Managed Dollar Income Fund, Inc.
CONTACT: Shareholder Contact, +1-800-221-5672
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