Issue of Equity

27 April 2015

TWENTYFOUR SELECT MONTHLY INCOME FUND LIMITED

(a closed-ended investment company incorporated in Guernsey with registration
number 57985)

Issue of equity

The board of TwentyFour Select Monthly Income Fund Limited (the "Company",
"SMIF") is pleased to announce that 750,000 ordinary shares of 1p each
("Ordinary Shares") were today sold for cash from treasury at 99.89 pence per
share.

As a result of the sale from treasury set out above, the Company's issued share
capital consists of 143,985,881 Ordinary Shares and 11,923,887 Ordinary Shares
held in treasury. Accordingly, the total number of voting rights in the Company
is 143,985,881.

For further information, please contact:

Numis Securities Limited:
Nathan Brown          [phone]
Hugh Jonathan

TwentyFour Select Monthly Income Fund Limited:
John Magrath          [phone]
Alistair Wilson