Portfolio of Investments

City of Oxford Geared Inc Tst PLC
1 August 2000


The company announces the following unaudited data relating to its portfolio
of investments as at 28 July 2000:

TOTAL ASSETS                              £155,432,479
TOTAL BANK DEBT                           £ 47,550,000
NET ASSETS                                £107,882,479

NAV PER ZERO DIVIDEND PREFERENCE SHARE         115.13p
NAV (EX INCOME) PER INCOME SHARE               100.02p
NAV (EX INCOME) PER GEARED ORDINARY SHARE       96.06p