Dividend Declaration

City Natural Res High Yield Tst PLC
20 July 2005

          
To:       RNS
From:     City Natural Resources High Yield Trust plc
Date:     21 July 2005


Fourth Interim Dividend


The Board announces a fourth interim dividend of 0.5p per share payable on 26
August 2005, with an ex dividend date of 27 July 2005.  This makes for a
maintained total dividend of 2.0 pence per share for the year to 30 June 2005
(2.0 pence for the year to 30 June 2004).

The income generated from the portfolio during the year was lower than
anticipated, principally as a result of a high weighting in natural resource
equities.  This, in turn, contributed significantly to a strong asset value
performance, with a net asset value total return per share of 32.0 per cent for
the year compared with a 22.0 per cent for the benchmark index.

We remain positive about the outlook for the natural resource sector and
consequently have maintained the Company's high equity weighting.  Accordingly
the Board felt that it would be prudent to add to revenue reserves in the
current year.

Henceforth it is the intention that the Company will continue to pay a base
dividend of 0.5 pence per quarter and where there are additional income
receipts, these are expected to be reflected in a higher fourth interim or final
dividend payout.


For further information please contact:

Richard Lockwood
New City Investment Managers Limited
0207 557 4370

Martin A Cassels
F&C Asset Management plc
0131 465 1000




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