Net Asset Value(s)-Replace

New City High Yield Fund Limited
15 March 2007

The 'Net Asset Value' announcement released on 12th March 2007 at 15:06 under
RNS No 7818S, should have been issued under the Company name of New City High
Yield Fund Limited and not under the Company name of New City High Yield Trust
PLC. 

The announcement text is unchanged and is reproduced in full below.



NAV's as at close of business on 09/03/07

F & C Asset Management plc Investment Trusts announces the unaudited Net Asset
Values for the following Investment Trusts.

(Pence per share).  Investments valued on a bid price basis.



New City High Yield Fund                                            53.42


Note: NAVs are diluted, where appropriate.




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