Portfolio of Investments

Guinness Flight Geared Inc&Gwth Tst
6 June 2000


The company announces the following unaudited data relating to its portfolio
of investments as at 2 June 2000:

TOTAL ASSETS                              £155,590,661
TOTAL BANK DEBT                            £47,550,000
NET ASSETS                                £108,040,661

NAV PER ZERO DIVIDEND PREFERENCE SHARE         113.70p
NAV (EX INCOME) PER INCOME SHARE               100.00p
NAV (EX INCOME) PER GEARED ORDINARY SHARE      100.04p