Appointment of Co-Manager

RNS Number : 0764Q

City Natural Res High Yield Tst PLC

13 October 2011

To: RNS

From: City Natural Resources High Yield Trust plc

Date: 13 October 2011

City Natural Resources High Yield Trust plc

("City Natural Resources" or "the Company")

Appointment of Co-Manager

The Board today announces the appointment of Ian Francis as co-manager of City Natural Resources High Yield Trust plc alongside Will Smith who has been co-manager to the Company since 2008. Ian will concentrate on the Company's income portfolio while Will has responsibility for providing growth from a portfolio of mining and resource equities.

Merfyn Roberts, who has co-managed the Company since September 2010, is leaving to focus on his other interests, including directorships of resource companies. The Board would like to express their thanks to Merfyn for all his valuable work on the Company's portfolio and wish him well in his future endeavours.

City Natural Resources Co-Managers

Ian Francis has been with New City Investment Managers since 2007 and is lead fund manager of New City High Yield Fund Limited. Ian is also co-manager of New City Energy Limited. He has extensive experience of investing in both the income and convertible spheres. Ian worked in a variety of roles in convertible bond trading and sales at firms including Collins Stewart Limited, where he was Head of Trading and Convertibles; West LB Panmure as Head of Convertibles, James Capel & Co. and Hoare Govett & Co.

Will Smith has been with New City Investment Managers since 2008 and has been co-manager of City Natural Resources since he joined the company. Will also works alongside Ian Francis as co-manager of New City Energy Limited. Will has over thirty years' investment experience with Panmure Gordon, UBS and Morgan Grenfell Securities.

Will Smith and Ian Francis will have day to day responsibility for managing the Company's portfolio and are supported by the New City Investment Managers team.

For further information please contact:

Adam Cooke

New City Investment Managers

0207 201 5368

Martin A Cassels

F&C Asset Management plc

0207 628 8000

Beth Harris

Threadneedle Communications

0207 653 9850

Note to Editors:

The investment objective of the Company is to provide shareholders with capital growth and income from a portfolio of mining and resource equities, resources and industrial fixed interest securities.

If you would like to receive the monthly factsheet on the City Natural Resources High Yield Trust or any of the other New City Investment Managers' trusts please email beth.harris@threadneedlepr.co.uk

Please see the below table for the Company's ordinary share and NAV performance since 2003:

Data correct as at 30 September 2011.

	1 Month %	3 Months %	6 Months %	12 Months %	3 Years %	5 Years %	From 01/08/03 %
Fund NAV	-13.07	-15.36	-21.96	+3.18	+111.37	+163.14	+569.18
Share Price	-17.00	-18.81	-27.24	-0.31	+112.64	+133.92	+450.37
Benchmark	-13.95	-19.32	-22.21	-9.42	+50.94	+76.15	+247.84