MHY Western Asset Managed High Income Fund, Inc.

Western Asset Managed High Income Fund Inc. (NYSE: MHY) today announced the financial position of the Fund as of November 30, 2014.

    Current Q     Previous Q     Prior Yr Q November 30, 2014 August 31, 2014 November 30, 2013 Total Net Assets $ 281,758,031 $ 295,141,177 $ 294,830,046 NAV Per Share of Common Stock (a) $ 5.97 $ 6.25 $ 6.25 Market Price Per Share $ 5.36 $ 5.61 $ 5.61 Premium / (Discount) (10.22 )% (10.24 )% (10.24 )% Outstanding Shares 47,203,436 47,203,436 47,203,436   Total Net Investment Income (b) $ 4,762,581 $ 4,783,208 $ 5,134,120 Total Net Realized/Unrealized Gain/(Loss) (b) $ (13,260,172 ) $ (2,333,210 ) $ 6,297,356   Net Increase (Decrease) in Net Assets From Operations (b) $ (8,497,591 ) $ 2,449,998   $ 11,431,476     Earnings per Common Share Outstanding Total Net Investment Income (b) $ 0.10 $ 0.10 $ 0.11 Total Net Realized/Unrealized Gain/(Loss) (b) $ (0.28 ) $ (0.05 ) $ 0.13   Net Increase (Decrease) in Net Assets From Operations (b) $ (0.18 ) $ 0.05   $ 0.24     Undistributed/(Overdistributed) Net Investment Income (c) $ (900,418 ) $ (777,444 ) $ (625,836 ) Undistributed/(Overdistributed) Net Investment Income Per Share (c) $ (0.02 ) $ (0.02 ) $ (0.01 )

Footnotes:

(a)   NAVs are calculated as of the close of business on the last business day in the periods indicated above. (b) For the quarter indicated. (c) As of the date indicated above.

This financial data is unaudited.

The Fund files its semi-annual and annual reports with the Securities and Exchange Commission, as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year on Form N-Q. These reports are available on the Commission’s website at www.sec.gov. To obtain information on Form N-Q or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102.

Western Asset Managed High Income Fund Inc., a diversified, closed-end management investment company, is managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Legg Mason, Inc., and is sub-advised by Western Asset Management Company, an affiliate of the investment manager.

For more information about the Fund, please call 1-888-777-0102 or consult the Fund’s web site at www.lmcef.com. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.

Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Fund.

Western Asset Managed High Income Fund Inc.Maria Rosati, 212-805-6036mrosati@leggmason.com