Net Asset Value

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

Net Asset Value

The Company announces that as at the close of business on 4 November 2011, the
unaudited capital only net asset value per ordinary share, valued on a `bid
price' basis, was 2,826.99p

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

Date: 7 November 2011