AN ACR FLT IS ASSIGNED THE CLRNC INTENDED FOR ANOTHER COMPANY FLT WITH A SIMILAR CALL SIGN BY APCH CTLR AT IAH; TX.

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UPON CONTACTING HOUSTON APCH; WAS INFORMED THERE WAS ACR AFBF ON FREQ. WE WERE ACR AHBF (ACFT X). WAS ISSUED A 085 DEG HDG OFF OXONN INTXN AND TOLD TO EXPECT ILS RWY 27 AT IAH. DEPARTED OXONN ON 085 DEG HDG AND WAS TOLD TO SLOW TO 220 KTS. ACR AFBF (ACFT Y) ALSO WAS ISSUED INSTRUCTIONS AND TOLD TO EXPECT ILS RWY 26 IAH. 5 MI FROM OXONN ON 085 DEG HDG; ATC CLRED US 'ACFT X; SLOW TO 170 KTS; THEN DOWN TO 4000 FT.' READ BACK CLRNC AND I STARTED TO SLOW. UPON REACHING 170 KTS; I STARTED TO DSND TO 4000 FT. AT 5600 FT; ATC ASKED 'ACR X; YOU ARE LEVEL 6000 FT?' I IMMEDIATELY CLBED BACK UP TO 6000 FT. ATC STATED THAT THERE WAS NO PROB. ATC THEN CLRED ACR Y TO SLOW TO 170 KTS AND DSND TO 4000 FT. THE FO AND I BOTH HEARD AND HE ACKNOWLEDGED CLRNC TO 4000 FT. ACR Y NEVER QUESTIONED ATC EITHER AND REMAINED AT 6000 FT UNTIL CTLR CLRED HIM DOWN TO 4000 FT. THIS INCIDENT IS A RECURRING PROB WITH LIKE SOUNDING CALL NUMBERS. ACR Y COMES IN FROM THE N AND IS SCHEDULED TO LAND AT AB30. ACR X COMES IN FROM S AND IS SCHEDULED TO LAND 7 MINS LATER. THIS CREATES A SIT FOR CTLRS WHERE 2 ACFT ARE BEING VECTORED FOR 2 APCHS TO 2 DIFFERENT RWYS AT THE SAME TIME BY THE SAME CTLR AND HAVE VERY SIMILAR SOUNDING CALL SIGNS. THIS CREATES PLT AND CTLR CONFUSION DURING ONE OF THE MOST CRITICAL PHASES OF FLT. EVEN WITH EVERYONE BEING MADE AWARE OF THE CALL SIGNS; THE POTENTIAL EXISTS FOR MISTAKES.