Dividend Declaration

City Merchants High Yield Trust Limited                    

HEADLINE: 4th Interim Dividend

The Directors of the Company are pleased to announce the 4th interim dividend,
in respect of the year ended 31 December 2014, of 2.5 pence per Ordinary share.
This dividend will be paid on 27th February 2015, to shareholders on the
register on 23rd January 2015. The shares will be marked ex-dividend on 22
January 2015.

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]

12 January 2015