Exhibit 99.1350CERT

         Certification Pursuant to Section 906 of the Sarbanes Oxley Act

      I, Terry K. Glenn, President of Corporate High Yield Fund V, Inc. (the
      "Fund"), certify that:

            1.    The N-CSR of the Fund (the "Report") fully complies with the
                  requirements of Section 13(a) or 15(d) of the Securities
                  Exchange Act of 1934; and

            2.    The information contained in the Report fairly presents, in
                  all material respects, the financial condition and results of
                  operations of the Fund.

      Dated: April 21, 2003


                                               /s/ Terry K. Glenn
                                               ------------------
                                               Terry K. Glenn,
                                               President of
                                               Corporate High Yield Fund V, Inc.



Exhibit 99.1350CERT

         Certification Pursuant to Section 906 of the Sarbanes Oxley Act

      I, Donald C. Burke, Chief Financial Officer of Corporate High Yield Fund
      V, Inc. (the "Fund"), certify that:

            1.    The N-CSR of the Fund (the "Report") fully complies with the
                  requirements of Section 13(a) or 15(d) of the Securities
                  Exchange Act of 1934; and

            2.    The information contained in the Report fairly presents, in
                  all material respects, the financial condition and results of
                  operations of the Fund.

      Dated: April 21, 2003


                                               /s/ Donald C. Burke
                                               -------------------
                                               Donald C. Burke,
                                               Chief Financial Officer of
                                               Corporate High Yield Fund V, Inc.