NEW YORK, Sept. 21 /PRNewswire-FirstCall/ -- ACM Income Fund, Inc. [NYSE: ACG] (the "Fund") today released its monthly portfolio update as of August 31, 2005. ACM Income Fund, Inc. Top 10 Fixed-Income Holdings Portfolio% 1) US Treasury Bonds 11.25% (02/15/15) 8.31% 2) US Treasury Bonds 13.25% (05/15/14) 6.60% 3) US Treasury Stripped Prin 0.00% (05/15/17) 5.31% 4) US Treasury Stripped Prin 0.00% (11/15/21) 4.69% 5) FNMA 30 Yr TBA Sep 6.00% (09/25/35) 4.39% 6) Russian Federation - 144a 5.00% (03/31/30) 3.79% 7) US Treasury Bonds 12.00% (08/15/13) 3.35% 8) US Treasury Bonds 12.50% (08/15/14) 3.08% 9) US Treasury Bonds 6.25% (05/15/30) 2.68% 10) US Treasury Notes 3.25% (08/15/07) 2.63% Security Type Breakdown Portfolio% Treasury 47.96% Sovereign 20.85% FHLMC/CMO 5.44% FNMA 5.04% Bank Loans 3.35% FNMA/CMO 3.11% Inflation Indexed Bonds 1.97% Yankee Bonds 0.44% FHLMC 0.38% Government Agency 0.32% GNMA 0.18% Brady Bonds 0.10% Preferred Stock 0.05% Corporate: Communications-Mobile 0.74% Financial 0.74% Cable 0.61% Communications-fixed 0.58% Automotive 0.46% Banking 0.45% Broadcasting/Media 0.44% Industrial 0.43% Paper/Packaging 0.42% Communications 0.36% Public Utilities - Elec & Gas 0.27% Metals/Mining 0.22% Entertainment/Leisure 0.17% Technology 0.17% Chemicals 0.12% Petroleum Products 0.12% Building/Real Estate 0.11% Insurance 0.07% Healthcare 0.04% Agriculture 0.03% Energy 0.03% Containers 0.02% Food/Beverage 0.02% Corporate 0.01% Publishing 0.01% Retail 0.01% Sovereign 0.01% Supranationals 0.01% SUBTOTAL 6.67% Short-term: REPO 4.14% SUBTOTAL 4.14% Total 100.00% Country Breakdown Portfolio% United States 76.39% Brazil 5.33% Russia 4.04% Mexico 3.50% Turkey 3.00% Argentina 1.10% Canada 0.83% Colombia 0.80% Philippines 0.69% United Kingdom 0.64% Venezuela 0.63% Germany 0.53% Peru 0.49% Japan 0.34% Indonesia 0.28% Netherlands 0.22% Uruguay 0.22% Bermuda 0.17% Cayman Islands 0.10% Panama 0.10% Kazakhstan 0.09% Ukraine 0.09% Ecuador 0.07% Jamaica 0.07% Australia 0.05% Luxembourg 0.04% Dominican Republic 0.03% El Salvador 0.03% Nigeria 0.03% Lebanon 0.02% Spain 0.02% Bulgaria 0.01% China 0.01% Hong Kong 0.01% Ireland 0.01% South Africa 0.01% Sweden 0.01% Total 100.00% Credit Quality Breakdown Portfolio% AAA 68.45% AA 0.51% A 3.69% BBB 5.86% BB 10.50% B 8.83% CCC 1.81% A-1+ 0.32% NR 0.03% Total 100.00% Portfolio Statistics Percentage of Leverage: Bank Loans: 13.05% Investment Operations: 24.40% Preferred Stock: 0% Total: 37.45%* * The total percentage of leverage constitutes 13.05% in bank loans and 24.40% in investment operations which may include the use of certain portfolio management techniques such as credit default swaps, dollar rolls, negative cash, reverse repurchase agreements and when-issued securities. Avg. Maturity: 12.15 Years Duration: Corporate 7.57 yrs Emerging Market 5.16 yrs US Treasury 3.34 yrs High Yield 2.62 yrs Total Portfolio: 3.79 Years Total Net Assets: $1916.6 Million Net Asset Value: $8.37 Number of Holdings: 402 The foregoing portfolio characteristics are as of the date indicated and can be expected to change. The Fund is a closed-end U.S.-registered management investment company advised by Alliance Capital Management L. P. DATASOURCE: ACM Income Fund, Inc. CONTACT: Shareholder Contact for ACM Income Fund, Inc., 1-800-221-5672 Web site: http://www.alliancecapital.com/

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