Purchase of Own Securities

Capital Gearing Trust PLC
16 June 2000


Capital Gearing Trust p.l.c.

Repurchase of ordinary shares for cancellation

Capital Gearing Trust p.l.c. announces that on 16th June,
2000 it purchased for cancellation 50,000 ordinary shares
in the market at a price of 976p per ordinary share.
There remains 2,280,906 ordinary shares in issue.

Enquiries:

Peter Spiller         0207 588 2828
Cazenove Fund Management