RNS Number:2137K
Global High Yield Bond Trust Ld
22 April 2003


                        GLOBAL HIGH YIELD BOND TRUST LTD 
                              April 2003 Payments

Due to the failure of par tests at the determination date, Euro6.040m A notes have 
been redeemed in accordance with the offering circular.

The partial redemption of the A notes has resulted in there being insufficient 
funds to pay the interest due on the B, C & D notes. This interest has been 
deferred in accordance with the offering circular.

The effects of the above have had the following effect on the aggregate 
principal amount of Notes outstanding as at 22/04/03:

                 Principal amount of Notes outstanding
                 A Notes                   198,720,000 
                 B Notes                    31,699,707 
                 C Notes                    22,573,046 
                 D Notes                    11,510,543

There was no dividend paid on the Preference shares for the period. 

Enquiries
Morley Fund Management Ltd. 
Neil Smith   020 7809 6151

UBS Warburg Ltd. 
John Szymanowski 020 7568 4219




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