Dividend Declaration

City Merchants High Yield Trust Limited                    

HEADLINE:  3rd Interim Dividend

The Directors of the Company are pleased to announce the 3rd interim dividend,
in respect of the period from 2 April 2012 to 31 December 2012, of 2.5 pence
per Ordinary share. This dividend will be paid on 28 February 2013, to
shareholders on the register on 8 February 2013. The shares will be marked
ex-dividend on 6 February 2013.

With this payment, the Company will have paid total dividends, for the period
from Admission to 31 December 2012, of 7.6 pence per share in line with the
target in the Prospectus dated 23 February 2012. Together with the Special
Dividend of 2.4 pence per share paid by City Merchants High Yield Trust plc on
28 March 2012, total dividends of 10 pence per share will have been paid in
respect of the 12 months to 31 December 2012. The Board continues to target
total dividends at the same level for the current year.

Issued for and on behalf of City Merchants High Yield Trust Limited

Contacts:

Hilary Jones
R&H Fund Services (Jersey) Limited
Telephone: [phone]

14 January 2013