Dividend Declaration

New City High Yield Fund Limited
17 July 2007



To:            RNS

From:          New City High Yield Fund Limited

Date:          17 July 2007



Initial Interim Dividend



New City High Yield Fund Limited announces an initial interim dividend of 0.85
pence per share payable on 24 August 2007 to shareholders on the register on 27
July 2007, having an ex-dividend date of 25 July 2007.



This is directly in line with the dividend payment anticipated in the Prospectus
published in February 2007.







Enquiries:



Richard Lockwood - New City Investment Managers Ltd, Tel: [phone]








                      This information is provided by RNS
            The company news service from the London Stock Exchange