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SIGNATURE VINCENT L. PEREIRA
TITLE VICE PRESIDENT
<TABLE> <S> <C>
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<CIK> 0001032078
<NAME> MANAGED INCOME SECURITIES PLUS FUND, INC.
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INDEPENDENT AUDITORS' REPORT
To the Board of Directors and Shareholders of
Managed Income Securities Plus Fund, Inc.:
In planning and performing our audit of the financial statements of Managed
Income Securities Plus Fund, Inc. (the "Fund") for the year ended December
31, 1997 (on which we have issued our report dated February 18, 1998), 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, and not to provide assurance
on the Fund's internal control.
The management of the Fund 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 entity's objective of preparing financial statements
for external purposes that are fairly presented in conformity with
generally accepted accounting principles. Those controls include the
safeguarding of assets against unauthorized acquisition, use, or disposition.
Because of inherent limitations in any internal control, errors 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 the Fund's internal control would not necessarily
disclose all matters in internal control that might be material weaknesses
under standards established by the American Institute of Certified Public
Accountants. 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 errors 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 the Fund's internal control and its operation,
including controls for safeguarding securities, that we consider to be
material weaknesses as defined above as of December 31, 1997.
The report is intended solely for the information and use of management,
the Board of Directors of Managed Income Securities Plus Fund, Inc., and
the Securities and Exchange Commission.
DELOITTE & TOUCHE LLP
Two World Financial Center
New York, NY 10281
February 18, 1998
