Net Asset Value(s)

City Merchants High Yield Trust Limited                        
                                                               
As at close of business on 09-August-2016                      
                                                               
NAV per Ordinary share (unaudited) with Debt at Par & Fair     
Value                                                          
                                                               
EXCLUDING undistributed current year            183.41p        
revenue                                                        
                                                               
INCLUDING current year                          184.73p        
revenue