Top 10 Holdings

City Natural Res High Yield Tst PLC
4 October 2004

To:                RNS
From:              City Natural Resources High Yield Trust plc
Date:              04 October 2004


Listing Rule 21


In accordance with paragraph 21.20 l (ii) of the Listing Rules City Natural
Resources High Yield Trust plc announces its top ten holdings, including all
holdings with a value greater than 5% of its gross assets, as at 30 September
2004:



City Natural Resources High Yield Trust
Top 10 Holdings
Company                                            % Total Assets
UK Coal                                            3.5
Alliance Pha 8 Cv 13                               2.9
Planestatn 8% Cv 10                                2.8
Equit Life Fi 8% 07                                2.5
Kirkland Lake Gold                                 2.5
Anglo-Eastern Plant                                2.1
Cons Min 9% Cv 05                                  2.0
NPI 9.625% Perp 06                                 2.0
Corus & Regal 9% 06                                1.9
1st Hydro Fin 9% 21                                1.8



For further information please contact:

Martin Cassels
ISIS Asset Management plc
0131 465 1000





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