Alliance World Dollar Government Fund Releases Monthly Portfolio Update

NEW YORK, Sept. 21  /PRNewswire-FirstCall/ -- Alliance World Dollar Government Fund, Inc. [NYSE: AWG] (the "Fund") today released its monthly portfolio update as of August 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)         7.42%
   2) United Mexican States 8.00% (09/24/22)                  5.42%
   3) United Mexican States 8.13% (12/30/19)                  5.41%
   4) Venezuela (Republic of) 9.25% (09/15/27)                4.52%
   5) Brazil (Republic of) 11.00% (08/17/40)                  4.23%
   6) Russia Min Fin VII 3.00% (05/14/11)                     3.91%
   7) Brazil (Republic of) 12.75% (01/15/20)                  3.85%
   8) Argentina (Republic of) Boden 4.01% (08/03/12)          3.65%
   9) United Mexican States 9.88% (02/01/10)                  2.54%
  10) Russia (Ministry of Finance) 3.00% (05/14/08)           2.44%

  Security Type Breakdown
                             Portfolio%
   Sovereign                     83.18%
   Brady Bonds                    1.81%
   Loan Part./Loan Assign.        0.43%
   Short-term:
     Time Deposit                14.58%
     SUBTOTAL                    14.58%
   Total                        100.00%

   Country Breakdown
                      Portfolio%
   Mexico                 16.66%
   Brazil                 14.63%
   United States          14.58%
   Russia                 13.77%
   Argentina               5.86%
   Venezuela               5.82%
   Philippines             5.24%
   Turkey                  4.56%
   Peru                    3.47%
   Panama                  2.66%
   Ukraine                 2.13%
   Colombia                1.96%
   Uruguay                 1.53%
   Dominican Republic      1.19%
   El Salvador             1.17%
   Indonesia               1.10%
   Nigeria                 0.81%
   Lebanon                 0.67%
   Jamaica                 0.60%
   Malaysia                0.50%
   Morocco                 0.43%
   Bulgaria                0.41%
   Ecuador                 0.25%
   Total                 100.00%

   Credit Quality Breakdown
                      Portfolio%
   A                       0.50%
   BBB                    32.01%
   BB                     35.08%
   B                      16.77%
   CCC                     0.25%
   A-1+                   14.58%
   NR                      0.81%
   Total                 100.00%

  Portfolio Statistics
    Percentage of Leverage:
     Bank Loans:             0%
     Investment Operations:  9.28%*
     Preferred Stock:        0%
    Total:                   9.28%

   Avg. Maturity:            12.87 Years
   Duration:                 6.08 Years
   Total Net Assets:         $127.1 Million
   Net Asset Value:          $14.29
   Number of Holdings:       75

   * 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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