Dividend Declaration

City of Oxford Geared Inc Tst PLC
18 April 2001



Announcement Body Information:

Fourth Interim Dividend - Year to 31 March 2001

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The Board of The City of Oxford Geared Income Trust PLC has today declared a
fourth Interim Dividend on its Geared Ordinary and Income shares. The fourth
Interim Dividend is in respect of the year ending 31 March 2001 and amounts to
3.00p net per Geared Ordinary share. The Income share dividend rate is 2.15p
per share, calculated in accordance with the formula set out in the Company's
Articles of Association. Both dividends are payable on 18th May 2001 to
shareholders on the register as at 27th April 2001. This payment brings the
total payment for the year to 11.58p per Geared Ordinary share and 8.30p per
Income share.