Annual Report and Accounts

Capital Gearing Trust PLC
09 June 2005


Capital Gearing Trust PLC

REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2005

A copy of the above document has been submitted to the UK Listing Authority, and 
will shortly be available for inspection at the UK Listing Authority's Document 
Viewing Facility, which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London, E14 5HS
Tel No: 020 7066 1000

Enquiries

Andrew Kane
Ernst & Young LLP
01582 643272

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