Re Portfolio of Investments

City of Oxford Geared Inc Tst PLC
19 September 2000


The company announces the following unaudited data relating to its portfolio
of investments as at 15 September 2000:

TOTAL ASSETS                              £156,674,117
TOTAL BANK DEBT                           £ 47,550,000
NET ASSETS                                £109,124,117

NAV PER ZERO DIVIDEND PREFERENCE SHARE         116.40p
NAV (EX INCOME) PER INCOME SHARE               100.02p
NAV (EX INCOME) PER GEARED ORDINARY SHARE      100.56p