Portfolio Update Top Ten Investments

ABERFORTH GEARED CAPITAL & INCOME TRUST plc


The Board of Aberforth Geared Capital & Income Trust plc ("the Company") confirms that, as at 31 March 2007, 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                     5,289,745    3.6%       3.6%
Croda International        3,871,384    2.7%       6.3%
Shanks Group               3,725,650    2.6%       8.9%
BSS Group                  3,567,835    2.5%       11.4%
Spirax-Sarco Engineering   3,526,371    2.4%       13.8%
Brown (N) Group            3,377,676    2.3%       16.1%
Headlam Group              3,298,425    2.3%       18.4%
Hiscox plc                 3,218,316    2.2%       20.6%
Interserve                 3,163,875    2.2%       22.8%
RPC Group                  3,033,000    2.1%       24.9%

Contact for enquiries
Gary Tait
Aberforth Partners LLP
0131 220 0733