EX-99.77Q2 ITEM 405

For period ending May 31, 2005
Exhibit 77Q(2)

File number 811-8765

Managed High Yield Plus Fund Inc.

Section 16(a) Beneficial Ownership Reporting Compliance

      The registrant is not aware of any outstanding report required to
be filed pursuant to Section 16(a) of the Securities Exchange Act of
1934 by any board member or officer.

EX-99

Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Directors of
Managed High Yield Plus Fund Inc.

In planning and performing our audit of the financial statements of
Managed High Yield Plus Fund Inc., for the year ended May 31, 2005,
we considered its internal control, including control activities for
safeguarding securities, in order to determine our auditing procedures
for the purpose of expressing our opinion on the financial statements
and to comply with the requirements of Form N-SAR, not to provide
assurance on internal control.

The management of Managed High Yield Plus Fund Inc. is responsible for
establishing and maintaining internal control.  In fulfilling this
responsibility, estimates and judgments by management are required to
assess the expected benefits and related costs of controls. Generally,
controls that are relevant to an audit pertain to the entitys objective
of preparing financial statements for external purposes that are fairly
presented in conformity with U.S. generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use, or disposition.

Because of inherent limitations in internal control, error or fraud may
occur and not be detected. Also, projection of any evaluation of internal
control to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the effectiveness of
the design and operation may deteriorate.

Our consideration of internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under
auditing standards of the Public Company Accounting Oversight Board
(United States). A material weakness is a condition in which the design
or operation of one or more of the internal control components does not
reduce to a relatively low level the risk that misstatements caused by
error or fraud in amounts that would be material in relation to the
financial statements being audited may occur and not be detected within
a timely period by employees in the normal course of performing their
assigned functions.  However, we noted no matters involving internal
control and its operation, including controls for safeguarding securities
that we consider to be material weaknesses as defined above as of May 31, 2005.

This report is intended solely for the information and use of management,
the Shareholders and the Board of Directors of Managed High Yield Plus Fund
Inc. and the Securities and Exchange Commission and is not intended to be
and should not be used by anyone other than these specified parties.


							Ernst & Young LLP

New York, New York
July 12, 2005