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 7 July 2011 were:-                                                 
                                                                               
Capital Share (per Articles) = 614.02p                                         
                                                                               
Capital Share (nil swap valuation) = 617.34p                                   
                                                                               
Income Share (including All Revenue) = 113.08p                                 
                                                                               
Income Share (excluding All Revenue) = 100.00p                                 
                                                                               
The market value of investments was £122.6m less bank debt and net current     
assets/liabilities (excluding Income Shares) of £30.4m to leave Shareholders'  
Funds (including Income Shares) of £92.2m.                                     
                                                                               
Contact - Gary Tait (Tel: [phone])                                       
                                                                               
Aberforth Partners LLP, Secretaries - 8 July 2011                              
                                                                               
ANNOUNCEMENT ENDS