Portfolio of Investments

City of Oxford Geared Inc Tst PLC
21 November 2000


The company announces the following un audited data relating to its portfolio
of investments as at 17 November 2000:

                                              As at                           
                                           17 Nov 2000

TOTAL ASSETS                              £160,545,101 
TOTAL BANK DEBT                           £ 47,550,000      
NET ASSETS                                £112,995,101      

NAV PER ZERO DIVIDEND PREFERENCE SHARE         118.05p 
NAV (EX INCOME) PER INCOME SHARE               100.02p
NAV (EX INCOME) PER GEARED ORDINARY SHARE      119.40p