ACM Government Opportunity Fund Releases Monthly Portfolio Update

NEW YORK, Oct. 26  /PRNewswire-FirstCall/ -- ACM Government Opportunity Fund, Inc. [NYSE: AOF] (the "Fund") today released its monthly portfolio update as of September 30, 2005.

                  ACM Government Opportunity Fund, Inc.

  Top 10 Fixed-Income Holdings
                                                          Portfolio%
   1)  US Treasury Notes 3.75% (05/15/08)                     10.79%
   2)  US Treasury Bonds 6.25% (05/15/30)                      8.20%
   3)  US Treasury Notes 3.50% (11/15/09)                      7.81%
   4)  US Treasury Bonds 14.00% (11/15/11)                     7.69%
   5)  US Treasury Notes 3.50% (05/31/07)                      7.46%
   6)  US Treasury Notes 6.50% (02/15/10)                      6.73%
   7)  US Treasury Notes 2.75% (08/15/07)                      3.61%
   8)  US Treasury Inflation Index 3.88% (01/15/09)            2.34%
   9)  Intl Bk Recon & Develop 0.00% (02/17/26)                2.23%
  10)  US Treasury Notes 2.25% (02/15/07)                      2.17%

  Security Type Breakdown
                                     Portfolio%
  Treasury                               56.32%
  Sovereign                              27.91%
  Inflation Indexed Bonds                 2.99%
  FNMA                                    1.78%
  FHLMC                                   1.24%
  Brady Bonds                             0.16%
  GNMA                                    0.13%
  Corporate:
    Supranationals                        4.25%
    Sovereign                             0.59%
    SUBTOTAL                              4.84%
  Short-term:
    REPO                                  4.63%
    SUBTOTAL                              4.63%
  Total                                 100.00%

  Country Breakdown
                                     Portfolio%
  United States                          67.09%
  Brazil                                  5.44%
  Mexico                                  4.48%
  Argentina                               3.16%
  South Africa                            2.78%
  Venezuela                               2.36%
  Peru                                    2.12%
  Philippines                             1.91%
  Turkey                                  1.91%
  Russia                                  1.85%
  Poland                                  1.58%
  Colombia                                1.56%
  Ukraine                                 1.00%
  Indonesia                               0.98%
  Dominican Republic                      0.71%
  Hungary                                 0.52%
  Panama                                  0.28%
  Bulgaria                                0.27%
  Total                                 100.00%

  Credit Quality Breakdown
                                     Portfolio%
  AAA                                    71.35%
  A                                       7.14%
  BBB                                     2.98%
  BB                                     10.62%
  B                                       7.91%
  Total                                 100.00%

  Portfolio Statistics
    Percentage of Leverage:
      Bank Loans:                         0%
      Investment Operations:              32.59%*
      Preferred Stock:                    0%
    Total:                                32.59%

  Avg. Maturity:                          10.73 Years
  Duration:                               7.15 Years
  Total Net Assets:                       $110.6 Million
  Net Asset Value:                        $8.57
  Number of Holdings:                     55

  * Investment Operations 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.



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 Government Opportunity Fund, Inc.



CONTACT:  ACM Government Opportunity Fund, Inc., Shareholder Contact:

1-800-221-5672



Web site:  http://www.alliancecapital.com/ 

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