Net Asset Value(s)

New City High Yield Fund Limited
01 May 2007


Below is shown the unaudited net asset value for the Company as at close of
business on 30/04/07

NAV per share (at bid market values) in £ sterling. Pence per share.

New City High Yield Fund Ltd                                             53.34


Note: NAVs are diluted, where appropriate.



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