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, 2010.

For the second quarter ended November 30, 2010, the Fund's earnings from net investment income were $3,729,562, equal to $0.06 per share. Total net realized and unrealized gains from investment activities were $3,707,345, equal to $0.06 per share, for the same period. This compares to earnings from net investment income of $3,618,407, equal to $0.06 per share, and total net realized and unrealized gains from investment activities of $9,707,292, equal to $0.16 per share, for the second quarter ended November 30, 2009.

For the six months ended November 30, 2010, the Fund's earnings from net investment income were $7,239,832, equal to $0.12 per share. Total net realized and unrealized gains from investment activities were $6,437,723, equal to $0.10 per share, for the same period. This compares to earnings from net investment income of $7,615,468, equal to $0.12 per share, and total net realized and unrealized gains from investment activities of $20,786,809, equal to $0.34 per share, for the six months ended November 30, 2009.

On November 30, 2010, net assets of the Fund were $134,116,274. The net asset value per share was $2.17, based on 61,691,984 shares outstanding, which represents an increase of 5.85% from the net asset value per share of $2.05 ($125,703,258 applicable to 61,308,650 shares outstanding) on November 30, 2009.

UBS Global Asset Management Closed-End Funds Desk, 888-793-8637