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

Capital only: 3,136p
Including income: 3,144p

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

Date: 23 October 2014