Issue of Equity

2 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 1,000,000 ordinary shares of 1p each
("Ordinary Shares") were today sold for cash from treasury at 99.5 pence per
share.

As a result of the sales from treasury set out above, the Company's issued
share capital consists of 142,735,881 Ordinary Shares and 13,173,887 Ordinary
Shares held in treasury. Accordingly, the total number of voting rights in the
Company is 142,735,881.

For further information, please contact:

Numis Securities Limited:
Nathan Brown [phone]
Hugh Jonathan

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