Directorate Change

Capital Gearing Trust PLC
13 May 2004


GEARING TRUST plc

Capital Gearing Trust plc - appointment of director

Capital Gearing Trust plc ('capital Gearing') is pleased to announce the 
appointment of EG Meek as a non-executive director with effect from 13 May 2004.

Graham Meek (56) is a former investment banker and stockbroker and holds 
non-executive directorships with Filtronic plc and ICM Computer Group plc.



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