Dividend Declaration

City of Oxford Geared Inc Tst PLC
8 January 2002


City of Oxford Geared Income Trust PLC

8 January 2002

Announcement Body Information:

Third Interim Dividend - Year to 31 March 2002

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The Board of The City of Oxford Geared Income Trust PLC has today declared a
Third Interim Dividend on its Geared Ordinary and Income shares. The Third
Interim Dividend is in respect of the year ending 31 March 2002 and amounts to
2.86 net per Geared Ordinary share (2001: 2.86p). The Income share dividend
rate is 2.05 per share (2001: 2.05p), calculated in accordance with the
formula set out in the Company's Articles of Association. Both dividends are
payable on 25th February 2002 to shareholders on the register as at 1st
February 2002.