Director Declaration

City Merchants High Yield Trust Ltd                      

HEADLINE: Change in Director's Details

In accordance with LR 9.6.14, the Board of City Merchants High Yield Trust Ltd
announces that Philip Taylor has been appointed to the Board of JPMorgan Global
Convertibles Income Fund Limited, a new Guernsey incorporated London listed
fund which published its prospectus on 17th May 2013. The offer is due to close
on 5 June 2013 with admission and dealing expected to commence on 11 June 2013.

.

Hilary Jones

For and on behalf of

R&H Fund Services (Jersey) Ltd

20 May 2013