<PAGE> PAGE 1
000 B000000 02/28/97
000 C000000 895523
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 J000000 A
001 A000000 SMITH BARNEY MANAGED HIGH INCOME FUND, INC
001 B000000 811-7396
001 C000000 2128166550
002 A000000 388 GREENWICH ST.
002 B000000 NEW YORK
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012 A000001 FIRST DATA INVESTOR SERVICES GROUP
012 B000001 84-
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012 C020001 MA
012 C030001 02109
013 A000001 KPMG PEAT MARWICK LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10154
015 A000001 PNC BANK
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015 E010001 X
018 000000 Y
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<PAGE> PAGE 2
020 A000001 PAINE WEBBER INC.
020 B000001 13-2638166
020 C000001 187
020 A000002 OPPENHEIMER
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020 C000002 5
020 A000003 DONALDSON, LUFKIN & JERRETTE
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020 C000004 1
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022 A000001 CHASE SECURITIES
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022 A000002 CITIBANK
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022 A000003 CHEMICAL SECURITIES
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022 C000003 77738
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022 A000004 DONALDSON, LUFKIN & JERRETTE
022 B000004 13-2741729
022 C000004 42943
022 D000004 43229
022 A000005 GRANCHESTER
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022 C000005 21375
022 D000005 59237
022 A000006 MORGAN STANLEY
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022 C000006 45178
022 D000006 16784
022 A000007 BEAR STEARNS
022 B000007 13-3299429
022 C000007 37129
022 D000007 19011
022 A000008 LEHMAN BROTHERS
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022 C000008 26112
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<PAGE> PAGE 3
022 A000009 SALOMON BROTHERS
022 B000009 13-3082694
022 C000009 22353
022 D000009 24007
022 A000010 MERRILL LYNCH
022 B000010 13-5674085
022 C000010 17868
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
070 I010000 N
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<PAGE> PAGE 7
072BB000000 435
072CC010000 9609
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<PAGE> PAGE 8
083 A000000 N
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SIGNATURE THOMAS REYNOLDS
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000895523
[NAME] MANAGED HIGH INCOME PORTFOLIO INC.
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] FEB-28-1997
[PERIOD-END] FEB-28-1997
[INVESTMENTS-AT-COST] 465,104,182
[INVESTMENTS-AT-VALUE] 486,902,631
[RECEIVABLES] 18,876,910
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 505,779,541
[PAYABLE-FOR-SECURITIES] 4,847,000
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 6,810,650
[TOTAL-LIABILITIES] 11,657,650
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 509,094,925
[SHARES-COMMON-STOCK] 42,602,095
[SHARES-COMMON-PRIOR] 41,981,589
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 472,328
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 36,557,652
[ACCUM-APPREC-OR-DEPREC] 21,798,449
[NET-ASSETS] 493,905,996
[DIVIDEND-INCOME] 3,074,785
[INTEREST-INCOME] 49,826,414
[OTHER-INCOME] 52,901,199
[EXPENSES-NET] 5,703,458
[NET-INVESTMENT-INCOME] 47,197,741
[REALIZED-GAINS-CURRENT] (435,421)
[APPREC-INCREASE-CURRENT] 9,609,068
[NET-CHANGE-FROM-OPS] 56,371,388
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 46,290,254
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 0
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 620,506
[NET-CHANGE-IN-ASSETS] 17,081,731
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 1,379,815
[OVERDIST-NET-GAINS-PRIOR] 36,122,231
[GROSS-ADVISORY-FEES] 4,253,885
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 4,253,885
[AVERAGE-NET-ASSETS] 475,467,921
[PER-SHARE-NAV-BEGIN] 11.36
[PER-SHARE-NII] 01.12
[PER-SHARE-GAIN-APPREC] 00.21
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 01.10
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 11.59
[EXPENSE-RATIO] 01.20
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
