Dividend Declaration

City Merchants High Yield Trust Limited                    

HEADLINE: 2nd Interim Dividend

The Directors of the Company are pleased to announce the 2nd interim dividend,
in respect of the year ended 31 December 2014, of 2.5 pence per Ordinary share.
This dividend will be paid on 22 August 2014, to shareholders on the register
on 25 July 2014. The shares will be marked ex-dividend on 23 July 2014.

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]

14 July 2014