Third Interim Dividend

City of Oxford Geared Inc Tst PLC
17 January 2001


Third Interim Dividend
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The Board of The City of Oxford Geared Income Trust PLC has today declared a
Third Interim Dividend on its Geared Ordinary and Income shares.  The Third
Interim Dividend is in respect of the year ending 31 March 2001 and amounts to
2.86p net per Geared Ordinary share and the Income share dividend rate is
2.05p per share, calculated in accordance with the formula set out in the
Company's Articles of Association.

The dividends will be payable on 21 February 2001 to eligible shareholders on
the register at the close of business on 2 February 2001.

The third interim dividend has been raised to the level of the previous
interim dividends for the year and reflects the intention of the board to
equalise the pattern of distributions.  While this results in a cashflow
benefit to shareholderss it is likely to entail a lower final dividend than
last year's 3.00p per geared ordinary share and 2.15p per income share.