Morgan Stanley Investment Management Names Steven Kreider Sole Portfolio Manager for The Morgan Stanley High Yield Fund, Inc.

Morgan Stanley Investment Management today announced that Steven Kreider has been named sole Portfolio Manager for The Morgan Stanley High Yield Fund, Inc. (NYSE: MSY). The Morgan Stanley High Yield Fund, Inc. is managed by the Taxable Fixed Income team of Morgan Stanley Investment Management Inc. (the “Investment Adviser”). Mr. Kreider, a Managing Director of the Investment Adviser, will have primary responsibility for the day-to-day management and the execution of the overall strategy of the Fund’s portfolio.

Mr. Kreider has been associated with the Investment Adviser in an investment management capacity since 1988 and began managing the Fund in June 2007.

The composition of the Fund’s portfolio management team may change without notice from time to time.

Morgan Stanley Investment Management, together with its investment advisory affiliates, has nearly 1,000 investment professionals around the world and approximately $577 billion in assets under management or supervision as of February 29, 2008. By leveraging its global ‘community of boutiques’ structure and the strength of Morgan Stanley, MSIM strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 33 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
Contacts

The Morgan Stanley High Yield Fund, Inc.
888-378-1568