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  ACM Municipal Securities Income Fund Releases Monthly Portfolio Update

    NEW YORK, March 28 /PRNewswire-FirstCall/ -- ACM Municipal Securities
Income Fund, Inc. (NYSE: AMU) (the "Fund") today released its monthly
portfolio update as of February 28, 2005.

                  ACM Municipal Securities Income Fund, Inc.

          Top 10 Fixed-Income Holdings
                                                              Portfolio%
     1)   Tennessee Ed Loan Ser 97B AMT 6.200% (12/01/21)          4.71%
     2)   Florida Hsg Fin Corp AMT FSA 5.400% (03/01/42)           4.19%
     3)   New York NY Ind Dev Auth Ser94 6.125% (01/01/24)         3.89%
     4)   Adams Cnty MS Environ Impt Pcr 6.250% (09/01/23)         2.47%
     5)   Harris Cnty FSA 5.125% (08/15/32)                        2.45%
     6)   Mass Hlth & Ed Fac Auth Ycn 8.880% (07/01/18)            2.45%
     7)   Ohio St Wtr Dev Auth AMT 6.450% (09/01/20)               1.98%
     8)   Miami Dade Cnty Fl 5.000% (04/01/24)                     1.98%
     9)   Gulfport MS Hosp Fin Auth 5.750% (07/01/31)              1.97%
     10)  New Jersey St Ed Fac Ser 02a 9.152% (09/01/21)           1.89%

     Industry/Sector Breakdown
                                                  Portfolio%
     General Obligation                               18.37%
     Hospital/Health Care                             15.72%
     Cop/Lease Rental                                 10.37%
     Water/SWR                                         6.51%
     Housing-Rental Units                              5.93%
     Utility                                           5.56%
     Student Loan                                      4.71%
     Special Tax                                       4.42%
     Miscellaneous                                     4.30%
     Airport Facility                                  3.74%
     Higher Education                                  3.61%
     Housing-Mortgages                                 3.43%
     Continuing Care Facility                          3.26%
     Transportation                                    3.03%
     Education                                         2.90%
     Resource Recovery/Solid Waste                     2.70%
     Housing                                           0.71%
     Industrial                                        0.54%
     Corporate Airline                                 0.19%
     Total:                                          100.00%

     Holdings by State
                                        Portfolio%
     Florida                                11.67%
     California                             10.82%
     Texas                                   7.91%
     Massachusetts                           6.78%
     New York                                6.65%
     Illinois                                6.23%
     Ohio                                    5.85%
     Tennessee                               4.71%
     Mississippi                             4.43%
     New Jersey                              4.28%
     Alaska                                  3.84%
     Michigan                                2.98%
     New Mexico                              2.92%
     Alabama                                 2.80%
     Pennsylvania                            2.55%
     Wisconsin                               2.40%
     Connecticut                             1.39%
     Arizona                                 1.38%
     Rhode Island                            1.35%
     North Dakota                            1.30%
     Utah                                    1.26%
     Hawaii                                  1.22%
     Colorado                                1.13%
     Indiana                                 1.09%
     Nevada                                  1.01%
     Washington                              0.71%
     Minnesota                               0.57%
     North Carolina                          0.50%
     South Carolina                          0.24%
     Lousiana                                0.03%
     Total                                 100.00%

     Bond Rating
                                        Portfolio%
     AAA                                    52.38%
     AA                                     18.35%
     A                                      17.07%
     BBB                                    10.34%
     BB                                      1.86%
     Total                                 100.00%

     AMT Percentage:             26.05%
     Average Coupon:              5.56%
     Percentage of Leverage:
       Bank Loans:                   0%
       Investment Operations:        0%
       Preferred Stock:          41.43%*
     Total:                      41.43%

     Total Net Assets:          $217.2 Million
     Net Asset Value:           $11.42
     Number of Holdings:            97

    * Represents issued and outstanding preferred stock.

    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.


  SOURCE ACM Municipal Securities Income Fund, Inc.




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Related links:
  • http://www.alliancecapital.com
    CONTACT:
    Shareholder Contact, ACM Municipal Securities
    Income Fund, Inc., 1-800-221-5672

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