From:                CQS New City High Yield Fund Limited (the "Company")

LEI:                  549300KMGN75B0PTWT07

Date:                6 October 2017

Board changes

The Company announces the following change to its Board of Directors with immediate effect.

John Newlands has joined the Board of the Company as a non-executive Director.  John had a more than twenty year career in the City after he left the Royal Navy in 1995, the last ten years of it with Brewin Dolphin Limited as Head of Investment Companies.

Jimmy West, Chairman of the Company, said:

"I am delighted to welcome John to the Board.  The depth of his experience and expertise in the investment trust sector is universally recognised, and I look forward to all that he will bring to the Board's deliberations as the Company looks to build upon the success of recent years."

There is no additional disclosure to be made in respect of John Newlands pursuant to paragraph LR 9.6.13R of the Listing Rules of the UK Listing Authority.

John Newlands has an existing shareholding of 10,000 Ordinary Shares in the Company.

Enquiries:

Martin Cassels

Maitland Administration Services (Scotland) Ltd

Tel:       +44 (0) 131 550 3760