Top Ten Holdings

City Natural Res High Yield Tst PLC
06 April 2004

To:          RNS

From:        City Natural Resources High Yield Trust plc

Date:        6 April 2004


Listing Rule 21

In accordance with paragraph 21.20 I (ii) of the Listing Rules City Natural
Resources High Yield Trust plc announces its top ten holdings, including all
holdings with a value grater than 5% of its gross assets, as at 31 March 2004:

Company

                                                        % Total Assets

KIMBERLEY DIAMOND COMPANY NL COM AUD NPV                     3.10

ALLIANCE PHARMA CNV UNSEC LOAN STK 2013                      2.94

PERILYA AUD NPV                                              2.52

UK COAL ORD GBP0.01                                          2.32

PLANESTATION 8% CNV UNS LN STK 31/12/10 GBP                  2.25

EQUITABLE FINANCE 8% CALL PERP 06/08/07 GBP                  2.12

RELIANCE MINING 9.5% UNSECURED CNV NTS 08/09/06 AU           2.03

MANO RIVER RESOURCES COM NPV                                 2.03

KIRKLAND LAKE GOLD CAD NPV                                   1.87

CORUS & REGAL HOTEL GROUP 9% 30/06/06 GBP                    1.83



For further information please contact:

Michael Campbell

ISIS Asset Management plc

0131 465 1000


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