Investment Portfolio

Guinness Flight Geared Inc&Gwth Tst
8 February 2000


The company announces the following unaudited data relating to its portfolio
of investments as at 4 February 2000:

TOTAL ASSETS                              £139,973,932
TOTAL BANK DEBT                           £ 47,550,000
NET ASSETS                                £ 92,423,932

NAV PER ZERO DIVIDEND PREFERENCE SHARE         110.71p
NAV (EX INCOME) PER INCOME SHARE               100.00p
NAV (EX INCOME) PER GEARED ORDINARY SHARE       16.30p