EXHIBIT (a)(1)(viii)

                    Form of Letter to Stockholders Who Have
                 Requested Information Regarding the Offer by

                     ACM MANAGED DOLLAR INCOME FUND, INC.

         To Purchase for Cash 1,110,972 of Its Issued and Outstanding
                      Shares at Net Asset Value Per Share

Dear Stockholder:

  Pursuant to your request, enclosed for your consideration are the Offer to
Purchase dated April 2, 2001 of ACM Managed Dollar Income Fund, Inc. (the
"Fund") and the related Letter of Transmittal pursuant to which the Fund is
offering to purchase 1,110,972 shares of its issued and outstanding common
stock, par value $0.01 per share (the "Shares"), for cash at a price equal to
their net asset value ("NAV") determined as of the close of the regular
trading session of the New York Stock Exchange ("NYSE") on April 30, 2001,
upon the terms and subject to the conditions set forth in the Offer to
Purchase dated April 2, 2001 and the related Letter of Transmittal (which
together with any amendments or supplements thereto collectively constitute
the "Offer"). THE OFFER EXPIRES AT 12:00 MIDNIGHT EASTERN TIME ON APRIL 27,
2001, UNLESS EXTENDED (THE "EXPIRATION DATE"). If the Offer is extended beyond
April 27, 2001, the purchase price for Shares will be their NAV determined as
of the close of the regular trading session of the NYSE on the date after the
new Expiration Date, as extended.

  Neither the Fund nor its Board of Directors nor Alliance Capital Management
L.P. (the Fund's investment adviser) is making any recommendation to any
holder of Shares as to whether to tender Shares. Each Stockholder is urged to
consult the Stockholder's own investment and tax advisors before deciding
whether to tender Shares. If, after considering the Offer to Purchase and
Letter of Transmittal, you wish to tender your Shares pursuant to the Offer,
if you are the record owner of Shares, you should follow the instructions
contained in the Offer to Purchase and Letter of Transmittal, and, if the
Shares are held of record in the name of a broker, dealer, commercial bank,
trust company or other nominee, you should contact that firm to effect the
tender for you.

  Your attention is called to the following:

    1. Unless extended, the Offer expires at 12:00 Midnight Eastern Time on
  April 27, 2001 and withdrawal rights expire at 5:00 P.M. Eastern Time on
  May 1, 2001.

    2. The Offer is subject to certain conditions set forth in the Offer to
  Purchase. Under certain circumstances, the Fund will not be required to
  accept for payment, purchase or pay for any Shares tendered, and the Fund
  may also amend, extend or terminate the Offer.

    3. A Stockholder wishing to accept the Offer must tender, or cause the
  tender of, all Shares owned by the Stockholder and all Shares attributed to
  the Stockholder for federal income tax purposes under Section 318 of the
  Internal Revenue Code of 1986, as amended, as of the date of purchase of
  Shares pursuant to the Offer. Stockholders should consult their tax
  advisors as to the application of the constructive ownership rules of
  Section 318.

    4. If more than 1,110,972 Shares are duly tendered (and not timely
  withdrawn), the Fund will purchase Shares from tendering Stockholders, in
  accordance with the terms and subject to the conditions specified in the
  Offer to Purchase, on a pro rata basis (disregarding fractions) in
  accordance with the number of Shares duly tendered by each Stockholder
  during the period the Offer is open (and not timely withdrawn), unless the
  Fund determines not to purchase any Shares.

    5. Each tendering Stockholder is required to submit a check in the amount
  of $25.00 payable to EquiServe Trust Company, N.A. (the "Depositary") as a
  processing fee to help defray the cost associated with effecting the Offer.
  A broker, dealer, commercial bank, trust company or other nominee may also
  charge a fee for processing transactions on behalf of a Stockholder.
  Tendering Stockholders are not obligated to pay brokerage commissions or,
  subject to Instruction 6 of the Letter of Transmittal, transfer taxes on
  the purchase of Shares by the Fund pursuant to the Offer.


  The Offer is not being made to (nor will tenders be accepted from or on
behalf of) holders of Shares in any jurisdiction in which the Offer or its
acceptance would violate the laws of such jurisdiction. In any jurisdiction
where the securities, blue sky or other laws require the Offer to be made by a
licensed broker or dealer, the Offer shall be deemed to be made on behalf of
the Fund by one or more registered brokers or dealers licensed under the laws
of that jurisdiction.

  Should you have any other questions concerning the enclosed material, please
contact your broker, dealer, commercial bank, trust company or other nominee,
or call the Depositary at the number indicated in the Offer to Purchase.

                                         Very truly yours,

                                         ACM Managed Dollar Income Fund, Inc.