From:                CQS New City High Yield Fund Limited

LEI:                  549300KMGN75B0PTWT07

Date:                18 October 2017

CQS New City High Yield Fund Limited

("the Company")

First Interim Dividend

CQS New City High Yield Fund Limited (ticker symbol NCYF) today announces its first interim dividend of 0.99 pence per share (2016 - 0.98 pence) payable on 30 November 2017 to shareholders on the register on 27 October 2017, having an ex-dividend date of 26 October 2017.

For further information please contact:

Craig Cleland

New City Investment Managers

0207 201 5368

Martin Cassels

Maitland Administration Services (Scotland) Limited

0131 550 3760

Note to Editors:

CQS New City High Yield is managed by Ian Francis of New City Investment Managers.

The investment objective of the Company is to provide a high gross dividend yield and the potential for capital growth by investing mainly in high yielding fixed interest securities.

If you would like to receive the monthly factsheet on CQS New City High Yield Fund Limited or any of the other New City Investment Managers' funds please email: clientservice@cqsm.com                     

Please see the below table for the Company's ordinary share and NAV performance over a 5 year period from 30 September 2012.

*Total return performance based on bid prices/Source: R&H Fund Services Limited.

Data correct as at 30 September 2017.