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 10 March 2011 were:-                                           

Capital Share (per Articles) = 545.49p                                     

Capital Share (capital entitlement of 100p per Income Share and nil swap   
valuation) = 554.46p                                                       

Income Share (including All Revenue) = 105.12p                             

Income Share (excluding All Revenue) = 99.69p                              

The market value of investments was £117.1m less bank debt and net current 
assets/liabilities (excluding Income Shares) of £34.1m to leave            
Shareholders' Funds (including Income Shares) of £83.0m.                   

Contact - Gary Tait (Tel: [phone])                                   

Aberforth Partners LLP, Secretaries - 11 March 2011                        

ANNOUNCEMENT ENDS