Non Mainstream Pooled Product Rules

To:      RNS
From:  New City High Yield Fund Limited
Date:   17 December 2013

Non Mainstream Pooled Product Rules

The Board notes the proposed changes to the FCA rules relating to the restrictions on the retail distribution of unregulated collective investment schemes and close substitutes which will come into effect on 1 January 2014.  The Board confirms that it conducts its affairs, and intends to continue to conduct its affairs, so that the Company's shares will be excluded securities under these new rules and will therefore be excluded from the FCA's restrictions which apply to non-mainstream investment products.  

The Company's shares are excluded securities because the Company is a non-UK company which would qualify as an investment trust were it to seek HMRC approval.  

For further information please contact:

Martin Cassels
R&H Fund Services Limited
0131 524 6140

Ian Francis          
New City Investment Managers
0207 201 5366

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: New City High Yield Fund Ltd via Globenewswire

HUG#1750463