Issue of Equity

Capital Gearing Trust PLC
04 October 2002

Capital Gearing Trust p.l.c.

Issue of Ordinary Shares

The Board of Capital Gearing Trust p.l.c. are pleased to announce the issue of
70,000 ordinary shares at a price of 1187p per share on 4 October 2002. The
shares were allotted for cash at a premium to the net asset value under section
95 (disapplication of pre-emption provisions) of the Companies Act 1985.
Following the issue, there will be 2,425,906 ordinary shares in issue.

Enquiries:

Peter Spiller

CG Asset Management 020 7776 5448

END


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