Net Asset Value

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

Net Asset Values

The Company announces that, as at the close of business on 10 November 2014,
the unaudited net asset values per ordinary share, valued on a 'bid price'
basis, were:

Capital only: 3,163p
Including income: 3,172p

Enquiries:
Katherine Manson, TMF Corporate Secretarial Services Limited
Email: [e-mail]

Date: 11 November 2014