Subscription Offer

ACM European Enhanced Inc.Fund PLC
30 November 1999


OFFER FOR SUBSCRIPTION AND ADMISSION TO THE OFFICIAL LIST

ACM European Enhanced Income Fund plc ('the Company') is
pleased to announce that, as a result of its recent offer
for subscription, 49,854,743 shares have been issued at
100 pence per share.  Dealings in the shares on the
London Stock Exchange commenced on Monday, 29 November
1999.

The Company expects to make a draw down on 2 December
1999 under the loan facility as described in its
prospectus dated 22 November 1999.

Information on the Company

The Company's objective is to provide a high level of
income through investment in European corporate and
sovereign fixed income securities.  The Company will be
managed by Alliance Capital Management L.P., a global
investment adviser supervising client accounts with
assets as of 30 September 1999 totalling approximately
US$317 billion.

The Company is an Irish incorporated closed-ended fund.
The Shares are intended to be 'qualifying' investments
for the stocks and shares component of an ISA and for a
PEP.


Enquiries:

Alliance Capital Management L.P.
Robert MacIntyre                 0171 470 0100

Deutsche Bank
Simon Colson                     0171 545 8000