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

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 $0.0150 per share. The dividend is payable on September 30, 2013 to shareholders of record as of September 19, 2013. The ex-dividend date is September 17, 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 August 31, 2013*

        
        
           
        
        
           
        
        
           
        
      
      
        
          Net Asset Value per share
        
        
           
        
        
           
        
        
           
        
        
          $2.18
        
        
           
        
        
           
        
        
        
      
      
        
          Market Price per share
        
        
        
        
        
        
        
        
          $1.92
        
        
        
        
        
        
        
      
      
        
          NAV Yield
        
        
        
        
        
        
        
        
          8.26%
        
        
        
        
        
        
        
      
      
        
          Market Yield
        
        
        
        
        
        
        
        
          9.38%
        
        
        
        
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
    
    

* 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.

Any Fund performance information reflects the deduction of the Fund’s fees and expenses, as indicated in its shareholder reports, such as management fees, custody fees, exchange listing fees, etc. It does not reflect any transaction charges that a shareholder may incur when (s)he buys or sells shares (e.g., a shareholder’s brokerage commissions).

Further information regarding the Fund, including a discussion of principal objectives, principal investment strategies and principal risks, may be found in the fund overview located at http://www.ubs.com/closedendfundsinfo. You may also request copies of the fund overview by calling the Closed-End Funds Desk at 888-793 8637.

UBS Global Asset ManagementClosed-End Funds Desk, 888-793 8637ubs.com