From:               CQS New City High Yield Fund Limited

LEI:                  549300KMGN75B0PTWT07

Date:                16 January 2019

CQS New City High Yield Fund Limited

("the Company")

Second Interim Dividend

CQS New City High Yield Fund Limited (ticker symbol NCYF) today announces its second interim dividend of 1.00 pence per share (2018 - 0.99 pence) payable on 28 February 2019 to shareholders on the register on 25 January 2019, having an ex-dividend date of 24 January 2019.

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: ContactNCIM@cqsm.com                    

Please see the below table for the Company's ordinary share and NAV performance over a 5 year period from 31 December 2013.

*Total return performance based on bid prices/Source: Maitland Administration Services (Scotland) Limited.

Data correct as at 31 December 2018.