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Managed High Yield Plus Fund Inc."Dividend Declaration and Updated Price & Yield Information

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^{Published in Business and Finance on Monday, February 9th 2009 at 13:58 GMT, Last Modified on 2009-02-09 13:59:04 by Market Wire}  

NEW YORK--([ BUSINESS WIRE ])--Managed High Yield Plus Fund Inc. (the "Fund") (NYSE: HYF), a closed-end management investment company, today announced that the Fund's Board of Directors has declared a dividend from net investment income of $0.0225 per share. The dividend is payable on February 27, 2009 to shareholders of record as of February 19, 2009. The ex-dividend date is February 17, 2009. Managed High Yield Plus Fund Inc. seeks high income and, secondarily, capital appreciation, primarily through investments in lower-rated, income producing debt and related equity securities.

Characteristics as of January 31, 2009:*

* Net asset value (NAV), market price and yields will fluctuate. NAV yield is calculated by multiplying the current month's dividend by 12 and dividing by the month-end net asset value. Market yield is calculated by multiplying the current month's dividend by 12 and dividing by the month-end market price.