The Morgan Stanley High Yield Fund, Inc. Declares Monthly Income Dividend

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Tue May 19, 2009 4:15pm EDT 

NEW YORK--(Business Wire)--
The Morgan Stanley High Yield Fund, Inc. (NYSE: MSY) declared today a monthly
dividend of $0.0400 per share of net investment income.

                                                      
 EX-DATE           RECORD DATE          PAYABLE DATE  
 05/27/09          05/29/09             06/15/09      
                                                      


The Morgan Stanley High Yield Fund, Inc. (the "Fund"), advised by Morgan Stanley
Investment Management Inc., is a closed-end management investment company
investing primarily in debt securities that are rated below investment grade or
are unrated and considered to have a credit quality below investment grade. 

The Fund's primary investment objective is to seek a high level of current
income and its secondary objective is to seek capital appreciation. 

In order to comply with the requirements of Section 19 of the Investment Company
Act of 1940, The Fund will provide its shareholders of record on the record date
with a Section 19 Notice disclosing the sources of its dividend payment when a
distribution includes anything other than net investment income. The Section 19
Notice is not provided for tax reporting purposes but for informational purposes
only. 

Morgan Stanley Investment Management, together with its investment advisory
affiliates, has nearly 1,000 investment professionals around the world and
approximately $356 billion in assets under management or supervision as of March
31, 2009. 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 36 countries. For further information about Morgan Stanley, please
visit www.morganstanley.com. 



Morgan Stanley High Yield Fund, Inc.
800-231-2608 

Copyright Business Wire 2009
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