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 16 May 2014, the
unaudited net asset values per ordinary share, valued on a 'bid price' basis,
were:

Capital only: 3,103.34p
Including income: 3,123.50p

Enquiries:

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

Date: 20 May 2014