Holding(s) in Company

SCHEDULE 10

                    NOTIFICATION OF MAJOR INTERESTS IN SHARES

1)   Name of company
Aberforth Geared Capital & Income Trust plc

2)   Name of shareholder having a major interest
Apollo Fund plc

3)   Please state whether notification indicates that it is in respect of
     holding of the shareholder named in 2 above or in respect of a
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18
Notification is in respect of holding of the shareholder named in 2 above.

4)   Name of the registered holder(s) and, if more than one holder, the
     number of shares held by each of them
Chetwyn Nominees Limited

5)   Number of shares/amount of stock acquired
215,000

6)   Percentage of issued class
0.88%

7)   Number of shares/amount of stock disposed
N/A

8)   Percentage of issued class
N/A

9)   Class of security
Income Shares of 1p

10)  Date of transaction
19 March 2004

11)  Date company informed
19 March 2004

12)  Total holding following this notification
1,000,000

13)  Total percentage holding of issued class following this notification
4.08%

14)  Any additional information
Hamilton Lunn Asset Management Limited is the investment manager of Apollo Fund
plc.  Hamilton Lunn Asset Management Limited is also the investment manager of
CedarHold Fund, which holds 200,000 Aberforth Geared Capital & Income Trust plc
Income Shares of 1p; this represents a further 0.82% holding of the issued class
of Income Shares of 1p.

15)  Name of contact and telephone number for queries
Steven McKeane - 0131 220 0733

16)  Name and signature of authorised company official responsible for
     making this notification
Steven McKeane, for Aberforth Partners, Secretaries.

     Date of notification - 22 March 2004