Dividend Declaration

City Merchants High Yield Trust Limited

HEADLINE:       2^nd Interim Dividend

The Directors of the Company are pleased to announce the 2^nd interim dividend, in respect of the year ended 31 December 2015, of 2.5 pence per Ordinary share. This dividend will be paid on 21 August 2015, to shareholders on the register on 24 July 2015.  The shares will be marked ex-dividend on 23 July 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]

13 July 2015