Portfolio Update Top 10 Investments

ABERFORTH GEARED CAPITAL & INCOME TRUST plc


The  Board  of  Aberforth Geared Capital & Income Trust  plc  ("the  Company")
confirms  that,  as  at  31 December 2006, the top ten investments  ranked  by
market  value  (based on bid prices) of the Company's total investable  assets
were as follows: -


Company                     Value (£)           Weight (%)           Accumulated (%)

Greggs                     4,475,010                   3.2%                      3.2%
Brown (N.) Group           4,051,776                   2.9%                      6.1%
ITE Group                  3,772,550                   2.7%                      8.8%
Croda International        3,510,338                   2.5%                     11.3%
Headlam Group              3,397,875                   2.4%                     13.7%
BSS Group                  3,183,919                   2.3%                     16.0%
Shanks Group               3,157,800                   2.2%                     18.2%
RPC Group                  3,024,000                   2.1%                     20.3%
Spirax-Sarco Engineering   3,000,000                   2.1%                     22.4%
Holidaybreak               2,964,822                   2.1%                     24.5%


Contact for enquiries
Gary Tait
Aberforth Partners LLP
0131 220 0733

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