Net Asset Value(s)

ABERFORTH GEARED CAPITAL & INCOME TRUST plc ("AGCiT")                      

The Net Asset Values ("NAVs") for the above company as at the close of     
business on 3 March 2011 were:-                                            

Capital Share (per Articles) = 551.86p                                     

Capital Share (capital entitlement of 100p per Income Share and nil swap   
valuation) = 560.53p                                                       

Income Share (including All Revenue) = 104.42p                             

Income Share (excluding All Revenue) = 99.59p                              

The market value of investments was £117.4m less bank debt and net current 
assets/liabilities (excluding Income Shares) of £33.9m to leave            
Shareholders' Funds (including Income Shares) of £83.5m.                   

Contact - Gary Tait (Tel: [phone])                                   
Aberforth Partners LLP, Secretaries - 4 March 2011                         

ANNOUNCEMENT ENDS