Dividend Declaration

City Natural Res High Yield Tst PLC
21 January 2004


21 January 2004

City Natural Resources High Yield Trust PLC ('the Company')

Interim Dividend

In accordance with the terms of the prospectus of the Company dated 3 October
2003, the Board of City Natural Resources High Yield Trust PLC has today
declared a first interim dividend of 0.5p (2003: n/a) in respect of the year
ending 30 June 2004 which will be paid on 27 February 2004 to holders of
Ordinary 25p shares on the register on 30 January 2004.






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