Alliance World Dollar Government Fund Releases Monthly Portfolio Update NEW YORK, Oct. 1 /PRNewswire-FirstCall/ -- Alliance World Dollar Government Fund, Inc. [NYSE: AWG] (the "Fund") today released its monthly portfolio update as of August 31, 2004. Alliance World Dollar Government Fund, Inc. Top 10 Fixed-Income Holdings Portfolio% 1) Brazil (Republic of) 11.00% (08/17/40) 8.38% 2) Russian Federation - Reg S Iss 5.00% (03/31/30) 8.35% 3) United Mexican States 11.38% (09/15/16) 7.80% 4) Brazil (Republic) C Bonds Int 8.00% (04/15/14) 5.91% 5) United Mexican States 8.13% (12/30/19) 5.26% 6) Venezuela (Republic of) 9.25% (09/15/27) 3.93% 7) Colombia (Republic of) 11.75% (02/25/20) 3.01% 8) Russia (Ministry of Finance) 3.00% (05/14/08) 2.96% 9) Turkey (Republic of) 12.38% (06/15/09) 2.65% 10) United Mexican States 10.38% (02/17/09) 2.16% Security Type Portfolio% Sovereign 86.06% Brady Bonds 3.58% Loan Part./Loan Assign. 0.45% Short-term: Time Deposit 9.91% Total 100.00% Holdings by Issuer Country Portfolio% Brazil 20.40% Mexico 17.05% Russia 13.38% United States 9.91% Venezuela 5.54% Turkey 4.57% Peru 4.21% Ukraine 4.19% Colombia 3.92% Philippines 3.42% Panama 3.03% Argentina 2.84% Ecuador 1.96% South Africa 1.35% Indonesia 0.91% Bulgaria 0.85% Uruguay 0.85% Jamaica 0.57% Morocco 0.45% El Salvador 0.39% Belize 0.21% Total 100.00% Percentage of Leverage: Bank Loans: 0% Investment Operations: 11.15% (*) Preferred Stock: 0% Total: 11.15% Avg. Maturity: 13.69 Years Duration: 6.12 Years Total Net Assets: $118.6 Million Net Asset Value: $13.33 Number of Holdings: 61 (*) 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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