Net Asset Value(s)

Aberforth Geared Income Trust plc ("AGIT")                                   
                                                                             
The Net Asset Values ("NAVs") for the above company as at the close of       
business on 20 December 2013 were:-                                          
                                                                             
Ordinary Share (excluding current year revenue) = 193.01p                    
                                                                             
Ordinary Share (including current year revenue) = 196.79p                    
                                                                             
Zero Dividend Preference Share = 126.87p                                     
                                                                             
The market value of investments was GBP305.4m less net liabilities (including
Zero Dividend Preference Shares) of GBP89.9m to leave Shareholders' Funds of 
GBP215.5m.                                                                   
                                                                             
Contact - Gary Tait (Tel: [phone])                                     
                                                                             
Aberforth Partners LLP, Secretaries - 23 December 2013