New York, September 15, 2005  -- Managed High Yield Plus Fund Inc. (HYF), a closed-end management investment company, today announced the results of its 2005 Annual Meeting of Shareholders. At the meeting held earlier today, each of the current directors was reelected.

In response to a question from a shareholder, the Fund's portfolio manager stated that the Fund did not currently own securities issued by Delta Air Lines or Northwest Airlines. The Fund currently has less than 1% of its net assets invested in securities of issuers in the airline industry.

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.