Net Asset Value(s)

City Merchants High Yield Trust Limited                                        
                                                                               
As at close of business on 07-August-2015                                      
                                                                               
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value               
                                                                               
EXCLUDING undistributed current year revenue                 179.91p           
                                                                               
INCLUDING current year revenue                               181.12p           
                                                                               
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