I'm not a VC++ guy either, but here's what I understand about it:

VC++ can produce either managed or unmanaged code. To produce managed code, you use the ".Net extensions".

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>Here somebody will have to correct me as I am not a VC developer and my experience with .Net so far is somewhat limited. I understand that VC++ is part of .Net and can produce managed code (CLR) or unmanage (i.e. 'old style' VC++ code).