Director Shareholding

City Natural Res High Yield Tst PLC
30 June 2003

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1. Name of company
City Natural Resources High Yield Trust plc

2. Name of director
Michael Coulson

3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest
Beneficial

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified)
Michael Coulson

5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)




6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary




7. Number of shares / amount of stock acquired
20,000

8. Percentage of issued class
0.10%

9. Number of shares/amount of stock disposed
N/A

10. Percentage of issued class
N/A

11. Class of security
Ordinary 25p shares

12. Price per share
53p

13. Date of transaction
30 June 2003

14. Date company informed
30 June 2003

15. Total holding following this notification
20,000

16. Total percentage holding of issued class following this notification
0.10%

If a director has been granted options by the company please complete the
following boxes.

17. Date of grant




18. Period during which or date on which exercisable




19. Total amount paid (if any) for grant of the option




20. Description of shares or debentures involved: class, number




21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at time of exercise




22. Total number of shares or debentures over which options held following this
notification




23. Any additional information




24. Name of contact and telephone number for queries
Ruth Humphrey, 020 7463 6305

25. Name and signature of authorised company official responsible for making
this notification
Aberdeen Asset Management PLC - Secretary

Date of Notification
30 June 2003




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