<DOCUMENT>
<TYPE>EX-99.77B ACCT LTTR
<SEQUENCE>2
<FILENAME>item77b.txt
<TEXT>
Managed Municipals Portfolio


Sub-Item 77B


Report of Independent Registered Public Accounting Firm
The Board of Directors and Shareholders Managed Municipals Portfolio
 Inc.: In planning and performing our audit of the financial statements
 of Managed Municipals Portfolio Inc., as of and for the year ended
May 31, 2006, in accordance with the standards of the Public Company
Accounting Oversight Board (United States), we considered its internal
control over financial reporting, including control activities for
safeguarding securities, as a basis for designing our auditing procedures
 for the purpose of expressing our opinion on the financial statements
and to comply with the requirements of Form N-SAR, but not for the
purpose of expressing an opinion on the effectiveness of the Fund's
internal control over financial reporting. Accordingly, we express no
such opinion. The management of the Fund is responsible for establishing
 and maintaining effective internal control over financial reporting.
In fulfilling this responsibility, estimates and judgments by managementare
required to assess the expected benefits and related costs of controls.
 A fund's internal control over financial reporting is a process designed
to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial
statements for external purposes in accordance with U.S. generally accepted
accounting principles.  Such internal control includes policies and
procedures that provide reasonable assurance regarding prevention or timely
detection of unauthorized acquisition, use or disposition of a fund's assets
that could have a material effect on the financial statements. Because of
its inherent limitations, internal control over financial reporting may not
prevent or detect misstatements. Also, projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may
become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate. A control
deficiency exists when the design or operation of a control does not
allow management or employees, in the normal course of performing their
 assigned functions, to prevent or detect misstatements on a timely basis.
 A significant deficiency is a control deficiency, or combination of
control deficiencies, that adversely affects a fund's ability to initiate,
authorize, record, process or report external financial data reliably in
accordance with U.S. generally accepted accounting principles such that
there is more than a remote likelihood that a misstatement of a fund's
annual or interim financial statements that is more than inconsequential
will not be prevented or detected. A material weakness is a significant
deficiency,or combination of significant deficiencies, that results in
more than a remote likelihood that a material misstatement of the annual
or interim financialstatements will not be prevented or detected.

Our consideration of the Fund's internal control over financial reporting
was for the limited purpose described in the first paragraph and would not
necessarily disclose all deficiencies in internal control that might be
significant deficiencies or material weaknesses under standards established
 by the Public Company Accounting Oversight Board (United States).
However, we noted no deficiencies in the Fund's internal control over
financial reporting and its operation, including controls for safeguarding
 securities that we consider to be a material weakness as defined above as
 of May 31, 2006. This report is intended solely for the information and
use of management and the Board of Directors of Managed Municipals Portfolio
Inc. and the Securities and Exchange Commission and is not intended to be
and should not be used by anyone other than these specified parties.


New York, New York
July 24, 2006
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