Statement re Appointment of New Administrator

City Merchants High Yield Trust Limited

HEADLINE:   Appointment of new Administrator

City Merchants High Yield Trust Limited (the “Company”) announces the appointment of JTC Fund Solutions (Jersey) Limited (“JTC”) as the Company's new administrator with immediate effect.

The Board of the Company looks forward to working with JTC, which has an established track record of working successfully with listed funds.

The Board would like to extend its gratitude to R&H Fund Services (Jersey) Limited for its diligent support of the Company as the Company's administrator over the last 8 years.

The new registered office address of the Company is 28 Esplanade, St Helier, Jersey, JE2 3QA.

Issued for and on behalf of City Merchants High Yield Trust Limited.

Contacts:

Hilary Jones

JTC Fund Solutions (Jersey) Limited

Telephone: [phone]

10 December 2019