MANAGED HIGH YIELD PLUS FD I
			Symbol			HYF

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Managed High Yield Plus Fund Inc.—Dividend declaration, fund commentary and statistics

2009-10-12 17:01 ET - News Release

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 $0.0180 per share. The dividend is payable on October 30, 2009 to shareholders of record as of October 22, 2009. The ex-dividend date is October 20, 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.

Fund Commentary for the month of September 2009 from UBS Global Asset Management (Americas) Inc. (“UBS Global AM”), the Fund’s investment advisor:

The market for US dollar-denominated high yield securities continued to exhibit strength, returning 5.85% during the month, as measured by the Merrill Lynch US High Yield Cash Pay Constrained Index, the "Index." As of September 30, the market, as measured by the Index, returned 48.16% year to date, with CCC-rated and distressed issues leading the way. The Index ended the month with a spread over Treasury securities of 781 basis points (i.e., 7.81%), which represented a tightening of 110 basis points (i.e., 1.10%) during the month. (Spread is the difference between the yield paid on US Treasury bonds and higher-risk securities.)

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