TWENTYFOUR SELECT MONTHLY INCOME FUND - Issue of Equity

12 January 2015

TWENTYFOUR SELECT MONTHLY INCOME FUND LIMITED

(a closed-ended investment company incorporated in Guernsey with registration
number 57985)

Issue of equity

The board of TwentyFour Select Monthly Income Fund Limited (the "Company",
"SMIF") is pleased to announce that 600,000 new ordinary shares of 1p each were
today issued for cash at 96.62 pence per share (the "New Shares") under the
Placing Programme (as described in the Company's prospectus, dated 18 February
2014).

As a result of the issue of equity set out above, the Company's issued share
capital consists of 131,735,881 Ordinary shares.

Application has been made for the New Shares to be admitted to the premium
segment of the Official List and to trading on the Main Market of the London
Stock Exchange. It is expected that dealings in the new shares will commence at
8.00 a.m. on 14 January 2015.

For further information, please contact:

Numis Securities Limited:
Nathan Brown     [phone]
Hugh Jonathan

TwentyFour Select Monthly Income Fund Limited:
John Magrath     [phone]
Alistair Wilson