Net Asset Value(s)

CAPITAL GEARING TRUST P.L.C (the "Company")

Net Asset Value

The Company announces that as at the close of business on 9 December 2011, the
unaudited capital only net asset value per ordinary share, valued on a `bid
price' basis, was 2,828.52p

Enquiries:
Keith Hawkins, TMF Corporate Secretarial Services Limited
Email: [e-mail]

Date: 13 December 2011