  AdS_2/CFT_1 correspondence predicts that the logarithm of a Z_N twisted index
over states carrying a fixed set of charges grows as 1/N times the entropy of
the black hole carrying the same set of charges. In this paper we verify this
explicitly by calculating the microscopic Z_N twisted index for a class of
states in the CHL models. This demonstrates that black holes carry more
information about the microstates than just the total degeneracy.
