Additional Listing

Capital Gearing Trust PLC
15 July 2002


Capital Gearing Trust plc

Application has been made to The UK Listing Authority and the London Stock
Exchange for a block listing of 116,000 Ordinary shares of 25p each, issued by
the Investment Trust, to trade on the London Stock Exchange and to be admitted
to the Official List upon issuance. The shares shall rank pari passu with the
existing issued shares of the Company.

Copies of this announcement are available from the office of Cazenove & Co. Ltd
for the period of 2 business days from the date hereof.


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