Alliance World Dollar Government Fund Releases Monthly Portfolio Update

NEW YORK, Aug. 23  /PRNewswire-FirstCall/ -- Alliance World Dollar Government Fund, Inc. [NYSE: AWG] (the "Fund") today released its monthly portfolio update as of July 31, 2005.

               Alliance World Dollar Government Fund, Inc.

   Top 10 Fixed-Income Holdings
                                                        Portfolio%
   1) Russian Federation - Reg S Iss 5.00% (03/31/30)        7.66%
   2) United Mexican States 8.00% (09/24/22)                 5.63%
   3) United Mexican States 8.13% (12/30/19)                 5.63%
   4) Brazil (Republic of) 11.00% (08/17/40)                 4.44%
   5) Russia Min Fin VII 3.00% (05/14/11)                    4.11%
   6) Venezuela (Republic of) 9.25% (09/15/27)               3.75%
   7) Argentina (Republic of) Boden 3.01% (08/03/12)         3.37%
   8) Brazil (Republic of) 12.75% (01/15/20)                 3.30%
   9) United Mexican States 9.88% (02/01/10)                 2.67%
  10) Russia (Ministry of Finance) 3.00% (05/14/08)          2.58%

  Security Type Breakdown
                             Portfolio%
   Sovereign                     83.80%
   Brady Bonds                    1.67%
   Loan Part./Loan Assign.        0.46%
   Short-term:
     Time Deposit                14.07%
   Total                        100.00%

   Country Breakdown
                      Portfolio%
   Mexico                 17.35%
   Russia                 14.35%
   United States          14.07%
   Brazil                 13.24%
   Argentina               5.76%
   Turkey                  4.88%
   Venezuela               4.85%
   Philippines             4.76%
   Peru                    4.11%
   Panama                  2.99%
   Ukraine                 2.80%
   Colombia                1.35%
   Uruguay                 1.30%
   Dominican Republic      1.25%
   El Salvador             1.23%
   Jamaica                 1.07%
   Indonesia               1.03%
   Nigeria                 0.85%
   Lebanon                 0.72%
   Ecuador                 0.62%
   Malaysia                0.52%
   Morocco                 0.46%
   Bulgaria                0.44%
   Total                 100.00%

  Portfolio Statistics
   Percentage of Leverage:
    Bank Loans:            0%
    Investment Operations: 12.97%*
    Preferred Stock:       0%
   Total:                  12.97%

   Avg. Maturity:          12.10 Years
   Duration:               5.72 Years
   Total Net Assets:       $125.7 Million
   Net Asset Value:        $14.13
   Number of Holdings:     76

   * 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: Alliance World Dollar Government Fund, Inc.



CONTACT:  Shareholder Contact for Alliance World Dollar Government Fund,

Inc., 1-800-221-5672



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

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