Additional Listing

New City High Yield Fund Limited
14 June 2007

                                  14 June 2007

                NEW CITY HIGH YIELD FUND LIMITED (the 'COMPANY')

                              ADDITIONAL LISTING

Application has been made to the UK Listing Authority and the London Stock
Exchange Plc for 3.5 million ordinary shares of no par value ('Shares') to be
admitted to the Official List under an Ordinary Shares Blocklisting Facility.

Shares may be issued under this facility for general business purposes subject
to guidelines laid down by the Board and at prices not less than the net asset
value per share.  The Shares will, when issued, rank pari passu with the
existing ordinary shares of the Company.

Enquiries
Sue Inglis/Darren Willis Intelli Corporate Finance Limited    Tel: [phone]
Adam Cooke               New City Investment Managers Limited Tel: [phone]



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