Dividend Declaration

GUINNESS FLIGHT GEARED INCOME & GROWTH TRUST PLC
19 July 1999

The Board of Guinness Flight Geared Income & Growth Trust PLC has today
declared a Second Interim Dividend on its Geared Ordinary and Income shares in
respect of the period ending 31 March 2000 of 3.31p net per Geared Ordinary
share and 2.3725p net per Income share.  

The dividend will be payable on 12 August 1999 to shareholders on the register
at the close of business on 30 July 1999.