Net Asset Values

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

Net Asset Values

The Company announces that as at the close of business on 4 May 2012, the
unaudited net asset values per ordinary share, valued on a `bid price' basis,
were:

Capital only - 2,867.42p
Including income - 2,890.35p 


Enquiries:

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

Date: 9 May 2012