Holding(s) in Company

Capital Gearing Trust plc

22 December 2010

NOTIFICATION OF MAJOR INTERESTS IN SHARES

Identity of the issuer to which voting rights are attached: 

Capital Gearing Trust plc

Reason for the notification:

Disposal of voting rights

Full name of person subject to the notification obligation:

Smith & Williamson Holdings Limited

Full name of shareholders:

See `Chain of Controlled Undertakings' section below

Date of the transaction:

21 December 2010

Date on which issuer notified:

22 December 2010

Threshold that is crossed:

Proportion of voting rights has fallen below the 10% threshold.

Voting rights attached to shares:

Situation previous to the Triggering transaction

Class of shares          Number of shares         Number of voting Rights    
                                                                             
Ord 25p Shares           283,806                  283,806                    
                                                                             
(GB0001738615)                                                               

Resulting situation after the triggering transaction

Class of Shares: Ord 25p Shares (GB0001738615)

Number of       Number of voting rights          % of voting rights            
shares                                                                         
                                                                               
Direct          Direct   Indirect    Total       Direct     Indirect   Total   
                                                                               
N/A             N/A      282,616     282,616     N/A        9.97%      9.97%   

Chain of controlled undertakings through which the voting rights are
effectively held:

Smith & Williamson Nominees Limited, a subsidiary of Smith & Williamson
Investment Management Limited, subsidiary of Smith & Williamson Holdings
Limited - 265,466 shares

Royal Bank of Scotland as custodian for Smith & Williamson Fund Administration
Limited, subsidiary of Smith & Williamson Investment Management Limited, a
subsidiary of Smith & Williamson Holdings Limited. - 11,600 shares.

BNP Paribas as custodian for Smith & Williamson Investment Management Limited,
a subsidiary of Smith & Williamson Holdings Limited - 2,550 shares.

The Corporation of Lloyds for whom Smith & Williamson Investment Management
Limited, a subsidiary of Smith & Williamson Holdings Limited are discretionary
managers - 3,000 shares.

Proxy Voting:

Name of the proxy holder:

N/A

Number of voting rights proxy holder will cease to hold:

N/A

Date on which proxy holder will cease to hold voting rights:

N/A

Contact name:

Keith Hawkins

Contact telephone number:

01582 439 276