MANAGED HIGH INCOME PORTFOLIO INC.
(the "Portfolio")
Supplement dated September 5, 1997
to the Statement of Additional Information dated June 27, 1997
The following information supplements, and to the extent inconsistent
therewith, supersedes, the information set forth in the Statement of
Additional Information under Investment Objectives and Policies --Investment
Restrictions."
13. Investing in illiquid securities, including repurchase agreements
maturing in more than seven days, securities that are not readily marketable
and restricted securities not eligible for resale pursuant to Rule 144A under
the Securities Act of 1933, as amended, if more than 15% of the net assets of
the Portfolio would be invested in such securities.
u:\legal\funds\#mhy\misc\saistck.doc