LETTERHEAD]

                                  [LETTERHEAD]


                                August 26, 1998




Xxxxxxxx Xxxxxxxx
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000


     Re:  PaineWebber RMA New York Municipal Money Fund, a series of the
          PaineWebber Managed Municipal Trust (the "New York Fund")
          --------------------------------------------------------------

          We hereby consent to the filing of this consent as an exhibit to the
registration statement on Form N-1A for the New York Fund dated as of the date
hereof (the "Registration Statement") and to the use of our name as counsel to
the New York Fund with respect to New York law in the Registration Statement and
the Prospectus for the New York Fund.

                              Very truly yours,


                              /s/ Xxxxxx, Xxxxxxxxxx & Xxxxxxxxx LLP

                              Xxxxxx, Xxxxxxxxxx & Xxxxxxxxx LLP