Issue of Equity

21 September  2015

TWENTYFOUR SELECT MONTHLY INCOME FUND LIMITED

(a closed-ended investment company incorporated in Guernsey with registration number 57985)

Issue of equity

The board of TwentyFour Select Monthly Income Fund Limited (the "Company", "SMIF") is pleased to announce that 600,000 ordinary shares of 1p each (“Ordinary Shares”) were today sold for cash from treasury at 96.497 pence per share.

As a result of the sale from treasury set out above, the Company's issued share capital consists of 145,335,881 Ordinary Shares and 10,573,887 Ordinary Shares held in treasury. Accordingly, the total number of voting rights in the Company is 145,335,881.

For further information, please contact:

Numis Securities Limited:

Nathan Brown             [phone]

Hugh Jonathan

TwentyFour Select Monthly Income Fund Limited:

John Magrath              [phone]

Alistair Wilson