BIPS Invesco Bond Income Plus Limited

                    City Merchants High Yield Trust Limited

HEADLINE: Issue of Equity

The Board of City Merchants High Yield Trust Limited (the `Company') announces
that it has agreed today to issue and allot 100,000 ordinary shares of no par
value in the Company at a price of 184.5p per share under its block listing
facility. This allotment is to satisfy secondary market demand and is made
under the annual authority granted by the Company's shareholders for such
allotments. These shares rank pari passu with the existing shares in issue in
all respects.

Following this issue the total number of ordinary shares in issue is
79,436,327, which should be used as the denominator for calculating interests
in the Company.

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Issued for and on behalf of City Merchants High Yield Trust Limited

Contact:

Hilary Jones
R&H Fund Services (Jersey) Limited
Telephone: 01534 825323

21 October 2014