Net Asset Value

From:               CQS New City High Yield Fund Limited
Date:                30 December 2016

Net Asset Value

The unaudited net asset value (NAV) of the Company is noted below in pence per share. NAVs are calculated in accordance with stated policies. Applicable accounting standards and AIC recommendations are followed.

The NAV per ordinary share as at the close of business on 29 December 2016 was:

	Pence per   Share Cum             Ex Income         Income
Basic	57.46            56.49

                                                    
For further information please contact:

Martin Cassels / Lucy Robertson

R&H Fund Services Limited
0131 550 3760/ 3764

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Source: CQS New City High Yield Fund Limited via Globenewswire