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 11 May 2012, the
unaudited net asset values per ordinary share, valued on a `bid price' basis,
were:

Capital only - 2,871.87p
Including income - 2,894.62p  


Enquiries:

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

Date: 15 May 2012