Net Asset Value(s)

City Merchants High Yield Trust Limited                                        
                                                                              
As at close of business on 07-October-2015                                     
                                                                              
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value               
                                                                              
EXCLUDING undistributed current year revenue                 176.09p           
                                                                              
INCLUDING current year revenue                               178.89p           
                                                                              
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