Managed High Yield Plus Fund Inc. (NYSE: HYF) (the "Fund"), a closed-end management investment company seeking high income, and secondarily, capital appreciation, primarily through investments in lower-rated, income-producing debt and related equity securities, today announced its performance for the second quarter and fiscal year-to-date ended November 30, 2011.

For the second quarter ended November 30, 2011, the Fund's earnings from net investment income were $3,048,058, equal to $0.05 per share. Total net realized and unrealized losses from investment activities were $(3,894,360), equal to $(0.06) per share, for the same period. This compares to earnings from net investment income of $3,729,562, equal to $0.06 per share, and total net realized and unrealized gains from investment activities of $3,707,345, equal to $0.06 per share, for the second quarter ended November 30, 2010.

For the six months ended November 30, 2011, the Fund's earnings from net investment income were $6,297,273, equal to $0.10 per share. Total net realized and unrealized losses from investment activities were $(15,638,798), equal to $(0.25) per share, for the same period. This compares to earnings from net investment income of $7,239,832, equal to $0.12 per share, and total net realized and unrealized gains from investment activities of $6,437,723, equal to $0.10 per share, for the six months ended November 30, 2010.

On November 30, 2011, net assets of the Fund were $123,750,717. The net asset value per share was $1.99, based on 62,065,408 shares outstanding, which represents a decrease of 8.29% from the net asset value per share of $2.17 ($134,116,274 applicable to 61,691,984 shares outstanding) on November 30, 2010.

UBS Global Asset Management
Closed-End Funds Desk: 888-793 8637
ubs.com