11

Industry Allocation: Top 10 Sectors
------------------------------- ----
Cable + Media 11.32%
Telecommunications 11.69

Credit Quality (Higher of S+P or Moody's)
-----------------------------------------
BBB or higher 10.22
C 0.39%
Cash + Other Assets 4.0430 per month
(Dividends are declared quarterly, paid monthly)

Managed High Income Portfolio Inc.

level equivalent

77
UK 0.30%
BB 17.2 years
Average Maturity: 8.37
Bahamas 0.29
Gaming 4.

or tournaments

Portfolio Composition(a)

Asset Allocations:
------------------
High Yield 94.45
Ireland 0.

Business Editors/Financial Editors

NEW YORK----Managed High Income
Portfolio Inc.43
Services - Other 4.01%
BB 18.71
C 0.

high level

47

Country Allocation:
-------------------
US 86.94
B 47.32%
Telecommunications 10 .84
Chemicals 5.10
NAV $6.

high secondary

40
Luxembourg 0.17

(Daily NAV is available on market quotation systems using the symbol
XHIOX.67
Luxembourg 0.00
Leverage No

Treasury Duration: 4.

high school

High Income Opportunity Fund as of March 31 2005

69
France 0.22
CCC 15.71
Cash + Equivalent 5.1 years
Spread Duration: 4.

Portfolio Composition(a)

Asset Allocations
-----------------
High Yield 95.69
France 0.

Portfolio Statistics
--------------------

Inception Date March 26, 1993
Inception Price $12.)
Dividend $0., a diversified investment
management company, is managed by Smith Barney Fund Management LLC, an
indirect wholly owned subsidiary of Citigroup Inc.citigroupam.

baseball teams

Capital appreciation is a secondary objective.14
Healthcare 3.14
NR 3.2 years
Average Life: 8. Capital appreciation is a secondary objective.11

Industry Allocations: Top 10 Sectors
------------------------------------
Cable + Media 12.2 years
Average Maturity: 8.com

school teams

94
Paper/Forest Products 4 .56
Services (Other) 4.22%
Canada 4.18
Netherlands 0.61
Cash + Equivalent 4.96
(Daily NAV is available on market quotation systems using the symbol
XMHYX.

Managed High Income Portfolio as of March 31 2005

29
Bermuda 0.
For more information, please call 1-888-735-6507 or consult the
Fund's web site at www.

secondary teams

Business Editors

NEW YORK----High Income Opportunity
Fund Inc.90%
Canada 4.66
Bahamas 0.37
Bermuda 0 .18
Netherlands 0.78
Utilities 5.25
Gaming 5.47

(a) Portfolio holdings and weightings are subject to change at any
time .)

Dividend Rate: $0. 802 million
Market Price $6 .

states level

80
Healthcare 4.35
Consumer Prod/Tobacco 3.59
Paper/Forest Products 3.84
CCC 13.1 years
Spread Duration: 4.2 years
Average Life: 8.2 years

Total Net Assets $317 .

Sites of or relating to high school or equivalent secondary-school level baseball and baseball teams .

secondary high

(NYSE: HIO) as March 31, 2005
Investment Objective: The Fund seeks a high current income.17
Chemicals 4.902 million
Market Price: $6.0450 per share
Frequency: Monthly

(Dividends are declared quarterly, paid monthly)

High Income Opportunity Fund Inc. (NYSE: MHY) as of March 31, 2005
Investment Objective: The Portfolio's primary investment objective
is high current income.08
B 48.

baseball high

21
Energy 7.31
NAV: $7., a diversified investment
management company , is managed by Smith Barney Fund Management LLC, an
indirect wholly owned subsidiary of Citigroup Inc.citigroupassetmanagement.61

Country Allocation
------------------
US 88.68
UK 0.18
Ireland 0.51

Credit Quality (Higher of S+P or Moody's)
-----------------------------------------

BBB or higher 11.14
NR 3.61

(a)Portfolio holdings and weightings are subject to change at any
time.

sites canada

53%
Cash + Other Assets 5.75
Consumer Prod/Tobacco 3.1 years

Total Net Assets: $529.98
Energy 8.39
Utilities 5.