Portfolio Update - June 2015

CAPITAL GEARING TRUST P.L.C. (the ‘Company’)

Monthly Portfolio Update (Amended)

Further to the announcement made on 1^st July 2015, the Company wishes to release a correction to its monthly portfolio update for June 2015.

Capital Gearing Trust P.l.c. announces that, as at 30 June 2015, it held the following investments in other listed closed-ended investment funds, which do not have a stated investment policy to invest no more than 15% of their total assets in other listed closed-ended investment funds:

Name	Percentage of portfolio
Utilico Finance Ltd Zero Div Pref 2018	1.12%
Utilico Finance Ltd Zero Div Pref 2016	0.94%
Miton Worldwide Growth Investment Trust	0.47%
LMS Capital	0.40%
Schroder Global Real Estates	0.36%
Utilico Finance Ltd Zero Div Pref 2020	0.26%
VPC Specialty Lending Investments	0.21%
SQN Asset Finance Income	0.19%
Dexion Absolute EUR	0.18%
Dexion Absolute USD	0.15%
Hansa Trust ‘A’ (Non-Voting)	0.12%
BACIT	0.07%
Total	4.47%

Capital Gearing Trust P.l.c. also announces that, as at 30 June 2015, the ten largest investments were as follows:

Name	Percentage of portfolio
UK Treasury 2.0% Index-Linked 2016	5.85%
UK Treasury 1.25% Index-Linked 2017	4.73%
North Atlantic Smaller Companies	4.32%
USA Treasury 1.375% Index-Linked 2018	3.43%
USA Treasury 2.0% Index-Linked 2026	3.19%
M&G High Income Investment Trust	3.03%
UK Treasury 0.125% Index-Linked 2024	2.94%
Ecofin Water & Power Opportunities	2.86%
USA Treasury 0.625% Index-Linked 2021	2.69%
Switzerland 3.0% Index-Linked 2018	2.37%
Total	35.41%

There were no additional investments with a value greater than 5% of the Company’s portfolio.

It should be noted that the above percentages are calculated using ‘bid’ prices.

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

Date: 02 July 2015