Net Asset Value(s)

City Merchants High Yield Trust Limited                        
                                                              
As at close of business on 28-August-2015                      
                                                              
NAV per Ordinary share (unaudited) with Debt at Par & Fair     
Value                                                          
                                                              
EXCLUDING undistributed current year            177.39p        
revenue                                                        
                                                              
INCLUDING current year                          179.17p        
revenue                                                        
                                                              
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