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Morgan Stanley High Yield Fund, Inc. Stockholders Elect New Directors and Adjourn Stockholder Meeting to Consider New Advisory

^{Published on 2010-05-12 13:40:17 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--At the Special Meeting of Stockholders for the Morgan Stanley High Yield Fund, Inc. (NYSE: MSY), the Funda™s stockholders approved a new Board for the Fund. The Funda™s stockholders also voted to adjourn the Special Meeting of Stockholders until June 17, 2010 at 3:00 p.m., Central time, at 11 Greenway Plaza, 25^th Floor, Houston, Texas 77046-1173, to solicit additional proxies in favor of proposals to approve a new investment advisory agreement and master sub-advisory agreement for the Fund with Invesco Advisers, Inc. and various affiliated sub-advisers.

On October 19, 2009, Morgan Stanley announced that it had entered into a definitive agreement to sell substantially all of its retail asset management business to Invesco Ltd., a leading global investment management company (the aTransactiona).

Morgan Stanley Investment Advisors Inc. (aMSIAa) is the investment adviser for the Fund. MSIA, together with its investment advisory affiliates, has nearly 1,000 investment professionals around the world and approximately $395 billion in assets under management or supervision as of March 31, 2010¹. By leveraging its global acommunity of boutiquesa™ structure and the strength of Morgan Stanley, MSIA strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,300 offices in 42 countries. For further information about Morgan Stanley, please visit [ www.morganstanley.com ].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state.

¹ Amount includes the Retail Asset Management business, including Van Kampen, which is expected to be sold to Invesco, Ltd.