New City High Yield Fund Ltd : Issue of Equity

8 March 2013

NEW CITY HIGH YIELD FUND LIMITED

Issue of Equity

The Company announces that, on 8 March 2013, it issued 4,521,758 new ordinary shares of no par value (the "New Shares") for cash at a price of 65.99 pence per share.  The New Shares rank pari passu with the existing ordinary shares of no par value.

Applications are now being made for the New Shares to be admitted (i) to the premium segment of the Official List of the UK Listing Authority, (ii) to trading on the London Stock Exchange's main market for listed securities, (iii) to the Daily Official List of Channel Islands Stock Exchange, LBG and (iv) to trading on Channel Islands Stock Exchange, LBG, and dealings in the New Shares are expected to commence on 13 March 2013.

Following the issue of the New Shares, the Company's issued share capital consists of 244,239,339 ordinary shares of no par value, none of which are held in treasury.  Accordingly, with effect from 14 March 2013, the total number of voting rights in the Company is 244,239,339 and that figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest, in the Company under the Disclosure and Transparency Rules.

Enquiries

Adam Cooke	New City Investment Managers	T: 020 7201 6900
Martin Cassels / Philip Rorke	R&H Fund Services Limited	T: 0131 625 2951/ 0131 625 2953

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Source: New City High Yield Fund Ltd via Thomson Reuters ONE

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