HYF Managed High Yield Plus Fund, Inc.

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 June 28, 2013 to shareholders of record as of June 20, 2013. The ex-dividend date is June 18, 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 May 31, 2013*

    Net Asset Value per share $2.28 Market Price per share $2.12 NAV Yield 7.89% Market Yield 8.49% *   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.

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