Issue of Equity

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, TO US PERSONS OR IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA,
THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND, JAPAN OR ANY
JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

This announcement does not constitute or form part of, and should not be
construed as, any offer for sale or subscription of, or solicitation of any
offer to buy or subscribe for, any shares in TwentyFour Select Monthly Income
Fund Limited or securities in any other entity, in any jurisdiction, including
the United States, nor shall it, or any part of it, or the fact of its
distribution, form the basis of, or be relied on in connection with, any
contract or investment decision whatsoever, in any jurisdiction. This
announcement does not constitute a recommendation regarding any securities.

10 February 2015

TwentyFour Select Monthly Income Fund Limited

(a non-cellular company limited by shares incorporated in the Island of
Guernsey under the Companies (Guernsey) Law 2008, as amended, with registered
number 57985 and registered as a Registered Closed-ended Collective Investment
Scheme with the Guernsey Financial Services Commission)

Issue of equity

The board of TwentyFour Select Monthly Income Fund Limited (the "Company")
announces that on 9 February 2015 it issued for cash under the Placing
Programme (as described in the Company's Prospectus, dated 18 February 2014)
14,173,887 ordinary shares of 1p each in the capital of the Company (the
"Shares") at a price of 94.90p equivalent to the net asset value ("NAV") per
share as published on Thursday, 5 February 2015.

These same shares will be immediately repurchased by the Company,
at the same prices (being the latest published NAV per share), to be held in
treasury.

The Shares held in treasury will be available to be sold to meet
ongoing market demand. These shares will be issued at a premium to the
prevailing NAV per share. The shares are being issued under the Placing
Programme set out in the Prospectus dated 18 February 2014, which closes on 17
February 2015.

As a result of this issue of equity, the Company's issued share capital will
consist of 155,909,768 Ordinary shares of which 14,173,887 Ordinary shares of
1p each are held in treasury.

It is expected that dealings in the new shares will commence at 8.00 a.m. on 
13 February 2014.


For further information, please contact:

Numis Securities Limited: [phone]
Chris Gook (Sales)
Hugh Jonathan / Nathan Brown (Corporate Finance & Broking)

TwentyFour Income Fund Limited: [phone]
John Magrath / Alistair Wilson


Important Information

This announcement has been prepared by, and is the sole responsibility of,
TwentyFour Select Monthly Income Fund Limited (the "Company").

Numis Securities Limited is acting only for the Company in connection with the
matters described in this announcement and is not acting for or advising any
other person, or treating any other person as its client, in relation thereto
and will not be responsible for providing the regulatory protection afforded
to clients of Numis Securities Limited or advice to any other person in
relation to the matters contained herein.

The Company is not and will not be registered under the US Investment Company
Act of 1940, as amended. The New Shares have not been, nor will they be,
registered under the US Securities Act of 1933, as amended (the "Securities
Act") or with any securities regulatory authority of any state or other
jurisdiction of the United States or under the applicable securities laws of
Australia, Canada, Japan, the Republic of Ireland or the Republic of South
Africa or any other jurisdiction that is a member state of the European
Economic Area (other than the United Kingdom). Subject to certain exceptions,
the New Shares may not be offered or sold in the United States, Australia,
Canada, Japan, the Republic of Ireland or the Republic of South Africa or any
other jurisdiction that is a member state of the European Economic Area (other
than the United Kingdom) or to or for the account or benefit of any national,
resident or citizen of any member state of the European Economic Area (other
than the United Kingdom), Australia, Canada, Japan, the Republic of Ireland or
the Republic of South Africa or any person located in the United States.
Placings under the Issue and the distribution of this announcement in other
jurisdictions may be restricted by law and the persons into whose possession
this announcement comes should inform themselves about, and observe, any such
restrictions.

This announcement includes "forward-looking statements". All statements other
than statements of historical facts included in this announcement, including,
without limitation, those regarding the Company's business strategy and plans
are forward-looking statements.Forward-looking statements are subject to risks
and uncertainties and accordingly the Company's actual future financial
results and operational performance may differ materially from the results and
performance expressed in, or implied by, the statements. These forward-looking
statements speak only as at the date of this announcement. The Company
expressly disclaims any obligation or undertaking to update or revise any
forward-looking statements contained herein to reflect actual results or any
change in the assumptions, conditions or circumstances on which any such
statements are based unless required to do so by the Financial Services and
Markets Act 2000, the Financial Services Act 2012, the Listing Rules or
Prospectus Rules of the Financial Conduct Authority or other applicable laws,
regulations or rules.