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

NEW YORK--(BUSINESS WIRE)--

Managed High Yield Plus Fund Inc. (the "Fund") 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 $0.0150 per share. The dividend is payable on February 28, 2013 to shareholders of record as of February 21, 2013. The ex-dividend date is February 19, 2013.

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, 2013*
Net Asset Value per share	$2.26
Market Price per share	$2.17
NAV Yield	7.96%
Market Yield	8.29%

*

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.