Portfolio Update

New City High Yield Fund Limited
02 October 2007



To:     RNS
From:   New City High Yield Fund plc
Date:   02-Oct-07



Listing Rule 15



In accordance with paragraph 15.6.8(2) of the Listing Rules New City High Yield
Fund plc announces its top ten holdings, including all holdings with a value
greater than 5% of its total assets, as at 30-Sep-07:




New City High Yield Fund
Top 10 Holdings
Company                                            % Total Assets
Balfour 10.75% CumPf                               4.8
AMI 31/10/13 10% Cv                                3.7
Cable & W 8.625% 19                                2.8
Novae 7% 15/12/08                                  2.6
Alliance Pha 8 Cv 13                               2.5
REA Finance 9.5% 17                                2.3
Myer Grp 10.1938% 13                               2.2
Gen Motors 8.875 23                                2.2
Libra Natur 8% Cv 10                               2.2
Real Est 7.5% 2011                                 2.1





For further information please contact:

Michael Campbell
F&C Investment Business Limited
0207 628 8000




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