Dividend Declaration

City Merchants High Yield Trust Limited                    

HEADLINE: 2nd Interim Dividend

The Directors of the Company are pleased to announce the 2nd interim dividend,
in respect of the period from 1 April 2013 to 30 June 2013, of 2.5 pence per
Ordinary share. This dividend will be paid on 23 August 2013, to shareholders
on the register on 26 July 2013.

The shares will be marked ex-dividend on 24 July 2013.

The Board continues to target total dividends of 10 pence 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]

15 July 2013