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 March 2005, the top ten investments  ranked  by
market value of the Company's total investable assets were as follows: -


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

RPC Group             3,030,000       2.9%            2.9%
Greggs                2,980,933       2.9%            5.8%
Carillion             2,596,472       2.5%            8.3%
ITE Group             2,419,302       2.3%           10.6%
Johnson Service       2,361,830       2.3%           12.9%
Group
Croda                 2,329,688       2.2%           15.1%
International
Interserve            2,229,500       2.1%           17.2%
British Vita          2,215,625       2.1%           19.3%
Headlam Group         2,194,380       2.1%           21.4%
Holidaybreak          2,179,240       2.1%           23.5%


Contact for enquiries
Gary Tait
Aberforth Partners
0131 220 0733

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