Dividend Declaration

City Merchants High Yield Trust Limited

HEADLINE:       4^th Interim Dividend

The Directors of the Company are pleased to announce the 4^th interim dividend, in respect of the year ended 31 December 2015, of 2.5 pence per Ordinary share. This dividend will be paid on 26 February 2016, to shareholders on the register on 22 January 2016.  The shares will be marked ex-dividend on 21 January 2016.

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 2016