"The Italy Fund Inc"
Managed High Income Portfolio Inc. Announces Results of Annual Meeting of Shareholders Business Editors NEW YORK – (Business Wire) – July 27, 2006 Managed High Income Portfolio Inc., which is traded on the New York Stock Exchange under the symbol “MHY,” announced today the results of the votes cast at the Fund’s annual meeting of stockholders held on July 26, 2006. Robert A. Frankel and R. Jay Gerken were elected as Class II Directors of Managed High Income Portfolio Inc. to hold office until the annual meeting of stockholders in the year 2009 or thereafter when their respective successors are duly elected and qualified. Managed High Income Portfolio Inc., a diversified investment management company, is managed by Smith Barney Fund Management LLC, a wholly owned subsidiary of Legg Mason, Inc. For more information, please call 1-888-735-6507 or consult the Fund’s web site at www.leggmason.com/InvestorServices. Note: “Smith Barney,” “Salomon Brothers” and “Citi” are service marks of Citigroup, licensed for use by Legg Mason as the names of funds and investment advisers. Legg Mason and its affiliates, as well as the fund’s investment manager, are not affiliated with Citigroup. Contact: Brenda Grandell Director, Closed-End Funds Legg Mason & Co., LLC 212-291-3775 Media Relations: Mary Athridge Media Relations Legg Mason & Co., LLC 212-559-0104