Dividend Declaration

City Merchants High Yield Trust Limited                    

HEADLINE: 1st Interim Dividend

The Directors of the Company are pleased to announce the 1st interim dividend,
in respect of the year ended 31 December 2013, of 2.5 pence per Ordinary share.
This dividend will be paid on 24 May 2013, to shareholders on the register on
26 April 2013. The shares will be marked ex-dividend on 24 April 2013.

The Board continues to target total dividends of 10 pence for the current year.

Issued for and on behalf of City Merchants High Yield Trust Limited

Contacts:

Hilary Jones

R&H Fund Services (Jersey) Limited

Telephone: [phone]

16 April 2013